EMXF vs. AVSE
EMXF (iShares ESG Advanced MSCI EM ETF) and AVSE (Avantis Responsible Emerging Markets Equity ETF) are both exchange-traded funds - EMXF is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index, while AVSE is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index. Both are passively managed. Over the past 3 years, EMXF returned 21.44%/yr vs 24.48%/yr for AVSE. Their correlation of 0.86 suggests significant overlap in exposure. EMXF charges 0.16%/yr vs 0.33%/yr for AVSE.
Performance
EMXF vs. AVSE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMXF having a 24.26% return and AVSE slightly lower at 23.92%.
EMXF
- 1D
- -4.12%
- 1M
- 5.10%
- YTD
- 24.26%
- 6M
- 24.79%
- 1Y
- 43.07%
- 3Y*
- 21.44%
- 5Y*
- 7.11%
- 10Y*
- —
AVSE
- 1D
- -5.42%
- 1M
- 3.43%
- YTD
- 23.92%
- 6M
- 24.59%
- 1Y
- 44.42%
- 3Y*
- 24.48%
- 5Y*
- —
- 10Y*
- —
EMXF vs. AVSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMXF iShares ESG Advanced MSCI EM ETF | 24.26% | 29.40% | 8.03% | 6.63% | -16.69% |
AVSE Avantis Responsible Emerging Markets Equity ETF | 23.92% | 32.54% | 8.29% | 16.01% | -14.43% |
Correlation
The correlation between EMXF and AVSE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | 0.86 |
The correlation between EMXF and AVSE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
EMXF vs. AVSE — Risk / Return Rank
EMXF
AVSE
EMXF vs. AVSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI EM ETF (EMXF) and Avantis Responsible Emerging Markets Equity ETF (AVSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMXF | AVSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 3.15 | +0.30 |
| Martin ratioReturn relative to average drawdown | 12.92 | 12.04 | +0.88 |
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Drawdowns
EMXF vs. AVSE - Drawdown Comparison
The maximum EMXF drawdown since its inception was -33.13%, which is greater than AVSE's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for EMXF and AVSE.
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Drawdown Indicators
| EMXF | AVSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.13% | -26.28% | -6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -12.53% | -14.17% | +1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -15.93% | -17.68% | +1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -32.89% | — | — |
Current DrawdownCurrent decline from peak | -4.12% | -5.42% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -11.93% | -6.78% | -5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 3.70% | -0.36% |
Volatility
EMXF vs. AVSE - Volatility Comparison
The current volatility for iShares ESG Advanced MSCI EM ETF (EMXF) is 10.32%, while Avantis Responsible Emerging Markets Equity ETF (AVSE) has a volatility of 12.30%. This indicates that EMXF experiences smaller price fluctuations and is considered to be less risky than AVSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXF | AVSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.32% | 12.30% | -1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 18.35% | 19.98% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.37% | 22.13% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.50% | 18.68% | +3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.99% | 18.68% | +3.31% |
EMXF vs. AVSE - Expense Ratio Comparison
EMXF has a 0.16% expense ratio, which is lower than AVSE's 0.33% expense ratio.
Dividends
EMXF vs. AVSE - Dividend Comparison
EMXF's dividend yield for the trailing twelve months is around 2.67%, less than AVSE's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AVSE Avantis Responsible Emerging Markets Equity ETF | 2.81% | 2.68% | 3.03% | 3.20% | 1.27% | 0.00% | 0.00% |
EMXF iShares ESG Advanced MSCI EM ETF | 2.67% | 3.43% | 2.92% | 2.25% | 2.42% | 1.87% | 0.41% |
Frequently Asked Questions
With a correlation of 0.95, EMXF and AVSE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AVSE has higher volatility (12.30%) compared to EMXF (10.32%). In terms of maximum drawdown, EMXF dropped -33.13% vs AVSE's -26.28%.
On 3-year performance, AVSE leads with 24.48% vs 21.44% for EMXF. On fees, EMXF is cheaper at 0.16% per year. On volatility, EMXF has been the lower-risk option at 10.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVSE has performed better with a 24.48% return vs 21.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMXF is cheaper with a 0.16% expense ratio, compared with 0.33% for AVSE.
AVSE has the higher dividend yield at 2.81%, compared with 2.67% for EMXF.
EMXF is categorized as Emerging Markets Equities, while AVSE is Emerging Markets Diversified. EMXF tracks MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index, while AVSE tracks MSCI Emerging Markets Index. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.16% for EMXF and 0.33% for AVSE.
EMXF currently has the higher Sharpe Ratio (2.13 vs 2.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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