FMQQ vs. XC

Last updated Jun 4, 2026

FMQQ (FMQQ The Next Frontier Internet & Ecommerce ETF) and XC (WisdomTree Emerging Markets ex-China Fund) are both Emerging Markets Diversified funds - FMQQ tracks the FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net while XC tracks the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, FMQQ returned 1.86%/yr vs 9.87%/yr for XC. A 0.73 correlation means they provide meaningful diversification when combined. FMQQ charges 0.86%/yr vs 0.32%/yr for XC.

Performance

FMQQ vs. XC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and WisdomTree Emerging Markets ex-China Fund (XC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMQQ achieves a -18.43% return, which is significantly lower than XC's -3.47% return.

FMQQ

• 1D: -2.42%
• 1M: -5.36%
• YTD: -18.43%
• 6M: -20.54%
• 1Y: -20.58%
• 3Y*: 1.86%
• 5Y*: —
• 10Y*: —

XC

• 1D: -1.53%
• 1M: -1.76%
• YTD: -3.47%
• 6M: -2.10%
• 1Y: 8.33%
• 3Y*: 9.87%
• 5Y*: —
• 10Y*: —

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

FMQQ vs. XC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	-18.43%	10.77%	12.45%	15.15%	-6.45%
XC WisdomTree Emerging Markets ex-China Fund	-3.47%	18.19%	5.49%	21.31%	1.49%

Correlation

The correlation between FMQQ and XC is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 23, 2022	0.73

The correlation between FMQQ and XC has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

FMQQ vs. XC - Sectors Allocation Comparison

Sectors	FMQQ	XC
Consumer Cyclical	32.7%	6.8%
Technology	9.8%	1.2%
Communication Services	6.4%	2.7%
Financial Services	2.3%	13.8%
Utilities	1.5%	1.3%
Real Estate	1.0%	1.3%
Consumer Defensive	0.6%	4.9%
Industrials	0.4%	4.7%
Basic Materials	-	7.0%
Energy	-	1.6%
Healthcare	-	0.7%

Return for Risk

FMQQ vs. XC — Risk / Return Rank

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

FMQQ

FMQQ Risk / Return Rank: 2
FMQQ Sharpe Ratio Rank: 1
FMQQ Sortino Ratio Rank: 1
FMQQ Omega Ratio Rank: 2
FMQQ Calmar Ratio Rank: 3
FMQQ Martin Ratio Rank: 2

XC

XC Risk / Return Rank: 18
XC Sharpe Ratio Rank: 18
XC Sortino Ratio Rank: 18
XC Omega Ratio Rank: 17
XC Calmar Ratio Rank: 17
XC Martin Ratio Rank: 18

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.

FMQQ vs. XC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and WisdomTree Emerging Markets ex-China Fund (XC). 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.

	FMQQ	XC	Difference
Sharpe ratio Return per unit of total volatility	-1.08	0.57	-1.65
Sortino ratio Return per unit of downside risk	-1.52	0.91	-2.43
Omega ratio Gain probability vs. loss probability	0.83	1.11	-0.28
Calmar ratio Return relative to maximum drawdown	-0.67	0.67	-1.34
Martin ratio Return relative to average drawdown	-1.37	1.94	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMQQ vs. XC - Sharpe Ratio Comparison

The current FMQQ Sharpe Ratio is -1.08, which is lower than the XC Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FMQQ and XC, 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

	FMQQ	XC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.08	0.57	-1.65
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	0.71	-1.34

Drawdowns

FMQQ vs. XC - Drawdown Comparison

The maximum FMQQ drawdown since its inception was -64.51%, which is greater than XC's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for FMQQ and XC.

Drawdown Indicators

	FMQQ	XC	Difference
Max Drawdown Largest peak-to-trough decline	-64.51%	-20.97%	-43.54%
Max Drawdown (1Y) Largest decline over 1 year	-30.82%	-12.47%	-18.35%
Max Drawdown (3Y) Largest decline over 3 years	-30.82%	-20.97%	-9.85%
Current Drawdown Current decline from peak	-55.91%	-9.35%	-46.56%
Average Drawdown Average peak-to-trough decline	-49.37%	-4.12%	-45.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.10%	4.29%	+10.81%

Volatility

FMQQ vs. XC - Volatility Comparison

FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) has a higher volatility of 6.21% compared to WisdomTree Emerging Markets ex-China Fund (XC) at 5.00%. This indicates that FMQQ's price experiences larger fluctuations and is considered to be riskier than XC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMQQ	XC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	5.00%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	15.66%	12.60%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	14.78%	+4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.82%	15.87%	+8.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.82%	15.87%	+8.95%

FMQQ vs. XC - Expense Ratio Comparison

FMQQ has a 0.86% expense ratio, which is higher than XC's 0.32% expense ratio.

Dividends

FMQQ vs. XC - Dividend Comparison

FMQQ's dividend yield for the trailing twelve months is around 0.75%, less than XC's 12.41% yield.

Position	TTM	2025	2024	2023	2022
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	0.75%	0.61%	0.45%	0.11%	0.00%
XC WisdomTree Emerging Markets ex-China Fund	12.41%	11.74%	1.49%	1.42%	0.57%

Frequently Asked Questions

Can I hold both FMQQ and XC in my portfolio?

FMQQ and XC have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMQQ or XC?

FMQQ has higher volatility (6.21%) compared to XC (5.00%). In terms of maximum drawdown, FMQQ dropped -64.51% vs XC's -20.97%.

Which ETF is better, FMQQ or XC?

On 3-year performance, XC leads with 9.87% vs 1.86% for FMQQ. On fees, XC is cheaper at 0.32% per year. On volatility, XC has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMQQ or XC?

Over the 3-year period, XC has performed better with a 9.87% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMQQ or XC?

XC is cheaper with a 0.32% expense ratio, compared with 0.86% for FMQQ.

Which ETF pays a higher dividend yield, FMQQ or XC?

XC has the higher dividend yield at 12.41%, compared with 0.75% for FMQQ.

What is the main difference between FMQQ and XC?

FMQQ tracks FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. They also come from different issuers: EMQQ and WisdomTree. Their fees differ too: 0.86% for FMQQ and 0.32% for XC.

Which has better risk-adjusted returns?

XC currently has the higher Sharpe Ratio (0.57 vs -1.08), 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.