FM vs. VEXC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Frontier 100 ETF (FM) and Vanguard Emerging Markets Ex-China ETF (VEXC).

FM and VEXC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FM is a passively managed fund by iShares that tracks the performance of the MSCI Frontier Markets 100 Index. It was launched on Sep 12, 2012. VEXC is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging ex China Index. It was launched on Sep 30, 2025. Both FM and VEXC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FM vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Frontier 100 ETF (FM) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

FM vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
FM iShares MSCI Frontier 100 ETF	0.00%	0.00%
VEXC Vanguard Emerging Markets Ex-China ETF	2.61%	4.80%

Returns By Period

FM

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VEXC

• 1D: 3.26%
• 1M: -8.07%
• YTD: 2.61%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FM vs. VEXC - Expense Ratio Comparison

FM has a 0.79% expense ratio, which is higher than VEXC's 0.07% expense ratio.

FM

iShares MSCI Frontier 100 ETF

VEXC

Vanguard Emerging Markets Ex-China ETF

Return for Risk

FM vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Frontier 100 ETF (FM) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FM	VEXC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.92	—

Dividends

FM vs. VEXC - Dividend Comparison

FM has not paid dividends to shareholders, while VEXC's dividend yield for the trailing twelve months is around 0.86%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FM iShares MSCI Frontier 100 ETF	0.00%	0.00%	3.95%	3.62%	2.70%	2.04%	2.91%	3.12%	4.29%	2.04%	2.15%	2.76%
VEXC Vanguard Emerging Markets Ex-China ETF	0.86%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	FM	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	—	-12.42%	—
Current Drawdown Current decline from peak	—	-9.57%	—
Average Drawdown Average peak-to-trough decline	—	-2.27%	—

Volatility

Volatility by Period

	FM	VEXC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	17.51%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.51%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.51%	—