GXUS vs. KEMX
GXUS (Goldman Sachs MarketBeta(R) Total International Equity ETF) and KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) are both Foreign Large Cap Equities funds - GXUS tracks the Solactive GBS Global Markets ex United States Large & Mid Cap Index - Benchmark TR Net while KEMX tracks the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past year, GXUS returned 31.75% vs 79.97% for KEMX. Their correlation of 0.80 suggests significant overlap in exposure. GXUS charges 0.18%/yr vs 0.25%/yr for KEMX.
Performance
GXUS vs. KEMX - Performance Comparison
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Returns By Period
In the year-to-date period, GXUS achieves a 14.90% return, which is significantly lower than KEMX's 42.26% return.
GXUS
- 1D
- -0.98%
- 1M
- 5.14%
- YTD
- 14.90%
- 6M
- 17.66%
- 1Y
- 31.75%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KEMX
- 1D
- -1.31%
- 1M
- 13.02%
- YTD
- 42.26%
- 6M
- 47.92%
- 1Y
- 79.97%
- 3Y*
- 29.66%
- 5Y*
- 13.52%
- 10Y*
- —
GXUS vs. KEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GXUS Goldman Sachs MarketBeta(R) Total International Equity ETF | 14.90% | 31.47% | 4.61% | 6.23% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 42.26% | 38.28% | 0.36% | 10.05% |
Correlation
The correlation between GXUS and KEMX is 0.79, 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 | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023 | 0.80 |
The correlation between GXUS and KEMX has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.
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Return for Risk
GXUS vs. KEMX — Risk / Return Rank
GXUS
KEMX
GXUS vs. KEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta(R) Total International Equity ETF (GXUS) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX). 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.
| GXUS | KEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.62 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 5.24 | -2.45 |
| Martin ratioReturn relative to average drawdown | 10.51 | 20.86 | -10.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GXUS | KEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 3.59 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.25 | 0.68 | +0.57 |
Drawdowns
GXUS vs. KEMX - Drawdown Comparison
The maximum GXUS drawdown since its inception was -13.90%, smaller than the maximum KEMX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for GXUS and KEMX.
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Drawdown Indicators
| GXUS | KEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.90% | -38.80% | +24.90% |
Max Drawdown (1Y)Largest decline over 1 year | -11.46% | -15.36% | +3.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.62% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.85% | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.31% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -8.86% | +6.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 3.85% | -0.82% |
Volatility
GXUS vs. KEMX - Volatility Comparison
The current volatility for Goldman Sachs MarketBeta(R) Total International Equity ETF (GXUS) is 5.42%, while KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a volatility of 9.86%. This indicates that GXUS experiences smaller price fluctuations and is considered to be less risky than KEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXUS | KEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 9.86% | -4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 19.90% | -6.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.33% | 22.40% | -6.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 18.21% | -2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.22% | 20.94% | -5.72% |
GXUS vs. KEMX - Expense Ratio Comparison
GXUS has a 0.18% expense ratio, which is lower than KEMX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GXUS vs. KEMX - Dividend Comparison
GXUS's dividend yield for the trailing twelve months is around 2.19%, less than KEMX's 2.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GXUS Goldman Sachs MarketBeta(R) Total International Equity ETF | 2.19% | 2.66% | 2.87% | 1.28% | 0.00% | 0.00% | 0.00% | 0.00% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.31% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% |
Frequently Asked Questions
GXUS and KEMX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMX has higher volatility (9.86%) compared to GXUS (5.42%). In terms of maximum drawdown, GXUS dropped -13.90% vs KEMX's -38.80%.
On 1-year performance, KEMX leads with 79.97% vs 31.75% for GXUS. On fees, GXUS is cheaper at 0.18% per year. On volatility, GXUS has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KEMX has performed better with a 79.97% return vs 31.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXUS is cheaper with a 0.18% expense ratio, compared with 0.25% for KEMX.
KEMX has the higher dividend yield at 2.31%, compared with 2.19% for GXUS.
GXUS tracks Solactive GBS Global Markets ex United States Large & Mid Cap Index - Benchmark TR Net, while KEMX tracks MSCI Emerging Markets ex China Index. They also come from different issuers: Goldman Sachs and CICC. Their fees differ too: 0.18% for GXUS and 0.25% for KEMX.
KEMX currently has the higher Sharpe Ratio (3.59 vs 1.95), 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.
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