FXP vs. EMCR
FXP (ProShares UltraShort FTSE China 50) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both exchange-traded funds - FXP is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-200%), while EMCR is a Emerging Markets Equities fund tracking the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. Both are passively managed. Over the past 5 years, FXP returned -21.08%/yr vs 8.40%/yr for EMCR. Their -0.77 correlation means they have often moved in opposite directions in the past. FXP charges 0.95%/yr vs 0.15%/yr for EMCR.
Performance
FXP vs. EMCR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXP achieves a 6.18% return, which is significantly lower than EMCR's 18.12% return.
FXP
- 1D
- 0.44%
- 1M
- -23.97%
- 6M
- 9.78%
- YTD
- 6.18%
- 1Y
- -1.26%
- 3Y*
- -27.96%
- 5Y*
- -21.08%
- 10Y*
- -22.22%
- ALL TIME*
- -28.45%
EMCR
- 1D
- 2.37%
- 1M
- 0.98%
- 6M
- 9.43%
- YTD
- 18.12%
- 1Y
- 34.13%
- 3Y*
- 20.55%
- 5Y*
- 8.40%
- 10Y*
- —
- ALL TIME*
- 10.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $103.65K | $132.98K | $134.88K | |
| $103.24K | $95.91K | $96.09K |
FXP vs. EMCR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 6.18% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.62% |
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 18.12% | 33.25% | 9.69% | 10.55% | -18.73% | 5.54% | 13.49% | 22.41% | -2.49% |
Correlation
The correlation between FXP and EMCR is -0.60, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.60 |
Correlation (3Y) Balances recent behavior with more history. | -0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | -0.77 |
The correlation between FXP and EMCR shifts across timeframes, from -0.79 (5 years) to -0.60 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXP vs. EMCR — Risk / Return Rank
FXP
EMCR
FXP vs. EMCR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.
| FXP | EMCR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.27 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.48 | -2.53 |
| Martin ratioReturn relative to average drawdown | -0.11 | 7.61 | -7.71 |
Loading charts...
Drawdowns
FXP vs. EMCR - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.94%, which is greater than EMCR's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for FXP and EMCR.
Loading charts...
Drawdown Indicators
| FXP | EMCR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -34.28% | -65.66% |
Max Drawdown (1Y)Largest decline over 1 year | -25.65% | -13.84% | -11.81% |
Max Drawdown (3Y)Largest decline over 3 years | -82.34% | -18.38% | -63.96% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -34.28% | -53.57% |
Max Drawdown (10Y)Largest decline over 10 years | -93.56% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -5.71% | -94.21% |
Average DrawdownAverage peak-to-trough decline | -94.18% | -9.26% | -84.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.62% | 4.50% | +7.12% |
Volatility
FXP vs. EMCR - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 10.97% compared to Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) at 8.20%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than EMCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXP | EMCR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.97% | 8.20% | +2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 29.41% | 21.31% | +8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.60% | 23.57% | +17.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.72% | 20.16% | +42.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.81% | 20.28% | +34.53% |
FXP vs. EMCR - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is higher than EMCR's 0.15% expense ratio.
Dividends
FXP vs. EMCR - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 3.39%, more than EMCR's 1.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 1.48% | 2.43% | 6.62% | 1.95% | 3.05% | 1.83% | 1.75% | 3.15% | 0.19% |
FXP ProShares UltraShort FTSE China 50 | 3.39% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% |
Frequently Asked Questions
FXP and EMCR have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (10.97%) compared to EMCR (8.20%). In terms of maximum drawdown, FXP dropped -99.94% vs EMCR's -34.28%.
On 5-year performance, EMCR leads with 8.40% vs -21.08% for FXP. On fees, EMCR is cheaper at 0.15% per year. On volatility, EMCR has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMCR has performed better with a 8.40% return vs -21.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMCR is cheaper with a 0.15% expense ratio, compared with 0.95% for FXP.
FXP has the higher dividend yield at 3.39%, compared with 1.48% for EMCR.
FXP is categorized as China Equities, while EMCR is Emerging Markets Equities. FXP tracks FTSE China 50 Net Tax USD (TR) (-200%), while EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. They also come from different issuers: ProShares and Deutsche Bank. Their fees differ too: 0.95% for FXP and 0.15% for EMCR.
EMCR currently has the higher Sharpe Ratio (1.46 vs -0.03), 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.
Find the right allocation for FXP and EMCR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer