EQLT vs. EMXC

Last updated Jun 4, 2026

EQLT (iShares MSCI Emerging Markets Quality Factor ETF) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both Emerging Markets Equities funds from iShares - EQLT tracks the MSCI Emerging Markets Quality Factor Select Index while EMXC tracks the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past year, EQLT returned 61.52% vs 77.94% for EMXC. Their correlation of 0.88 suggests significant overlap in exposure. EQLT charges 0.35%/yr vs 0.49%/yr for EMXC.

Performance

EQLT vs. EMXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Quality Factor ETF (EQLT) and iShares MSCI Emerging Markets ex China ETF (EMXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQLT achieves a 31.35% return, which is significantly lower than EMXC's 41.72% return.

EQLT

• 1D: -1.96%
• 1M: 8.08%
• YTD: 31.35%
• 6M: 34.63%
• 1Y: 61.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMXC

• 1D: -1.00%
• 1M: 12.61%
• YTD: 41.72%
• 6M: 46.94%
• 1Y: 77.94%
• 3Y*: 29.08%
• 5Y*: 12.76%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EQLT vs. EMXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EQLT iShares MSCI Emerging Markets Quality Factor ETF	31.35%	33.93%	-1.29%
EMXC iShares MSCI Emerging Markets ex China ETF	41.72%	35.14%	-3.42%

Correlation

The correlation between EQLT and EMXC is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024	0.88

The correlation between EQLT and EMXC has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

EQLT vs. EMXC - Sectors Allocation Comparison

Sectors	EQLT	EMXC
Technology	40.7%	45.0%
Financial Services	16.8%	19.6%
Consumer Cyclical	9.0%	4.5%
Industrials	7.4%	8.3%
Basic Materials	6.7%	6.8%
Communication Services	6.4%	3.4%
Energy	3.8%	4.2%
Consumer Defensive	3.3%	2.9%
Healthcare	2.4%	2.2%
Utilities	2.4%	2.3%
Real Estate	1.1%	1.0%

Return for Risk

EQLT vs. EMXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EQLT

EQLT Risk / Return Rank: 87
EQLT Sharpe Ratio Rank: 88
EQLT Sortino Ratio Rank: 84
EQLT Omega Ratio Rank: 85
EQLT Calmar Ratio Rank: 88
EQLT Martin Ratio Rank: 90

EMXC

EMXC Risk / Return Rank: 91
EMXC Sharpe Ratio Rank: 93
EMXC Sortino Ratio Rank: 91
EMXC Omega Ratio Rank: 92
EMXC Calmar Ratio Rank: 89
EMXC Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EQLT vs. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Quality Factor ETF (EQLT) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.

	EQLT	EMXC	Difference
Sharpe ratio: Return per unit of total volatility	2.93	3.61	-0.68
Sortino ratio: Return per unit of downside risk	3.74	4.39	-0.66
Omega ratio: Gain probability vs. loss probability	1.52	1.64	-0.11
Calmar ratio: Return relative to maximum drawdown	5.15	5.44	-0.28
Martin ratio: Return relative to average drawdown	20.74	21.99	-1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQLT vs. EMXC - Sharpe Ratio Comparison

The current EQLT Sharpe Ratio is 2.93, which is comparable to the EMXC Sharpe Ratio of 3.61. The chart below compares the historical Sharpe Ratios of EQLT and EMXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQLT	EMXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	3.61	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.83	0.55	+1.29

Drawdowns

EQLT vs. EMXC - Drawdown Comparison

The maximum EQLT drawdown since its inception was -17.38%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for EQLT and EMXC.

Drawdown Indicators

	EQLT	EMXC	Difference
Max Drawdown Largest peak-to-trough decline	-17.38%	-42.81%	+25.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-14.41%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.91%	—
Current Drawdown Current decline from peak	-1.96%	-1.00%	-0.96%
Average Drawdown Average peak-to-trough decline	-3.60%	-10.19%	+6.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.56%	-0.59%

Volatility

EQLT vs. EMXC - Volatility Comparison

iShares MSCI Emerging Markets Quality Factor ETF (EQLT) and iShares MSCI Emerging Markets ex China ETF (EMXC) have volatilities of 9.92% and 9.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQLT	EMXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.92%	9.88%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	19.34%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	21.11%	21.70%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.56%	17.45%	+3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.56%	19.82%	+0.74%

EQLT vs. EMXC - Expense Ratio Comparison

EQLT has a 0.35% expense ratio, which is lower than EMXC's 0.49% expense ratio.

Dividends

EQLT vs. EMXC - Dividend Comparison

EQLT's dividend yield for the trailing twelve months is around 2.63%, more than EMXC's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMXC iShares MSCI Emerging Markets ex China ETF	1.99%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%
EQLT iShares MSCI Emerging Markets Quality Factor ETF	2.63%	3.10%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQLT and EMXC in my portfolio?

With a correlation of 0.92, EQLT and EMXC 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.

Which is riskier, EQLT or EMXC?

EQLT has higher volatility (9.92%) compared to EMXC (9.88%). In terms of maximum drawdown, EQLT dropped -17.38% vs EMXC's -42.81%.

Which ETF is better, EQLT or EMXC?

On 1-year performance, EMXC leads with 77.94% vs 61.52% for EQLT. On fees, EQLT is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQLT or EMXC?

Over the 1-year period, EMXC has performed better with a 77.94% return vs 61.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQLT or EMXC?

EQLT is cheaper with a 0.35% expense ratio, compared with 0.49% for EMXC.

Which ETF pays a higher dividend yield, EQLT or EMXC?

EQLT has the higher dividend yield at 2.63%, compared with 1.99% for EMXC.

What is the main difference between EQLT and EMXC?

EQLT tracks MSCI Emerging Markets Quality Factor Select Index, while EMXC tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.35% for EQLT and 0.49% for EMXC.

Which has better risk-adjusted returns?

EMXC currently has the higher Sharpe Ratio (3.61 vs 2.93), 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.