EVLU vs. EMXC

Last updated Jun 24, 2026

EVLU (iShares MSCI Emerging Markets Value Factor ETF) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both Emerging Markets Equities funds from iShares - EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net) while EMXC tracks the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past year, EVLU returned 59.59% vs 67.97% for EMXC. Their correlation of 0.84 suggests significant overlap in exposure. EVLU charges 0.35%/yr vs 0.49%/yr for EMXC.

Performance

EVLU vs. EMXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Value Factor ETF (EVLU) 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, EVLU achieves a 28.98% return, which is significantly lower than EMXC's 37.89% return.

EVLU

• 1D: -3.07%
• 1M: 3.10%
• YTD: 28.98%
• 6M: 30.29%
• 1Y: 59.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMXC

• 1D: -6.44%
• 1M: 4.83%
• YTD: 37.89%
• 6M: 39.80%
• 1Y: 67.97%
• 3Y*: 27.65%
• 5Y*: 12.43%
• 10Y*: —

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

EVLU vs. EMXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVLU iShares MSCI Emerging Markets Value Factor ETF	28.98%	38.54%	1.21%
EMXC iShares MSCI Emerging Markets ex China ETF	37.89%	35.14%	-5.36%

Correlation

The correlation between EVLU and EMXC is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.84

The correlation between EVLU and EMXC has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

EVLU vs. EMXC — Risk / Return Rank

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

EVLU

EVLU Risk / Return Rank: 88
EVLU Sharpe Ratio Rank: 91
EVLU Sortino Ratio Rank: 88
EVLU Omega Ratio Rank: 89
EVLU Calmar Ratio Rank: 87
EVLU Martin Ratio Rank: 84

EMXC

EMXC Risk / Return Rank: 85
EMXC Sharpe Ratio Rank: 87
EMXC Sortino Ratio Rank: 77
EMXC Omega Ratio Rank: 86
EMXC Calmar Ratio Rank: 87
EMXC Martin Ratio Rank: 87

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.

EVLU vs. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Value Factor ETF (EVLU) 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.

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.

	EVLU	EMXC	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.70	+0.27
Sortino ratio: Return per unit of downside risk	3.73	3.23	+0.50
Omega ratio: Gain probability vs. loss probability	1.53	1.50	+0.03
Calmar ratio: Return relative to maximum drawdown	4.64	4.74	-0.10
Martin ratio: Return relative to average drawdown	16.27	18.14	-1.86

EVLU vs. EMXC - Sharpe Ratio Comparison

The current EVLU Sharpe Ratio is 2.97, which is comparable to the EMXC Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of EVLU 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.

Drawdowns

EVLU vs. EMXC - Drawdown Comparison

The maximum EVLU drawdown since its inception was -17.17%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for EVLU and EMXC.

Drawdown Indicators

	EVLU	EMXC	Difference
Max Drawdown Largest peak-to-trough decline	-17.17%	-42.81%	+25.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-14.41%	+1.51%
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	-5.94%	-6.44%	+0.50%
Average Drawdown Average peak-to-trough decline	-3.52%	-10.15%	+6.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	3.76%	-0.09%

Volatility

EVLU vs. EMXC - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Value Factor ETF (EVLU) is 9.29%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 14.74%. This indicates that EVLU experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVLU	EMXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	14.74%	-5.45%
Volatility (6M) Calculated over the trailing 6-month period	17.64%	23.44%	-5.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.18%	25.27%	-5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	18.40%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.36%	20.25%	+0.11%

EVLU vs. EMXC - Expense Ratio Comparison

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

Dividends

EVLU vs. EMXC - Dividend Comparison

EVLU's dividend yield for the trailing twelve months is around 3.77%, more than EMXC's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMXC iShares MSCI Emerging Markets ex China ETF	1.93%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.77%	5.20%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVLU and EMXC in my portfolio?

EVLU and EMXC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVLU or EMXC?

EMXC has higher volatility (14.74%) compared to EVLU (9.29%). In terms of maximum drawdown, EVLU dropped -17.17% vs EMXC's -42.81%.

Which ETF is better, EVLU or EMXC?

On 1-year performance, EMXC leads with 67.97% vs 59.59% for EVLU. On fees, EVLU is cheaper at 0.35% per year. On volatility, EVLU has been the lower-risk option at 9.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVLU or EMXC?

Over the 1-year period, EMXC has performed better with a 67.97% return vs 59.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVLU or EMXC?

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

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

EVLU has the higher dividend yield at 3.77%, compared with 1.93% for EMXC.

What is the main difference between EVLU and EMXC?

EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net), while EMXC tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.35% for EVLU and 0.49% for EMXC.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (2.97 vs 2.70), 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.