HXEM.TO vs. VEE.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO).

HXEM.TO and VEE.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HXEM.TO is a passively managed fund by Global X that tracks the performance of the Global X Emerging Markets Futures Roll Index (Total Return). It was launched on Aug 4, 2020. VEE.TO is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Markets All Cap China A Inclusion Index. It was launched on Nov 30, 2011. Both HXEM.TO and VEE.TO 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

HXEM.TO vs. VEE.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO). The values are adjusted to include any dividend payments, if applicable.

HXEM.TO vs. VEE.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HXEM.TO Global X Emerging Markets Equity Index Corporate Class ETF	4.95%	26.46%	14.53%	7.09%	-16.39%	-2.71%	12.33%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	1.82%	19.32%	19.06%	6.24%	-12.78%	0.05%	9.63%

Returns By Period

In the year-to-date period, HXEM.TO achieves a 4.95% return, which is significantly higher than VEE.TO's 1.82% return.

HXEM.TO

• 1D: 3.92%
• 1M: -7.43%
• YTD: 4.95%
• 6M: 7.44%
• 1Y: 27.91%
• 3Y*: 16.05%
• 5Y*: 5.13%
• 10Y*: —

VEE.TO

• 1D: 3.01%
• 1M: -5.08%
• YTD: 1.82%
• 6M: 1.29%
• 1Y: 18.12%
• 3Y*: 14.09%
• 5Y*: 5.36%
• 10Y*: 7.75%

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

HXEM.TO vs. VEE.TO - Expense Ratio Comparison

Both HXEM.TO and VEE.TO have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

HXEM.TO

Global X Emerging Markets Equity Index Corporate Class ETF

VEE.TO

Vanguard FTSE Emerging Markets All Cap Index ETF

Return for Risk

HXEM.TO vs. VEE.TO — Risk / Return Rank

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

HXEM.TO

HXEM.TO Risk / Return Rank: 73
HXEM.TO Sharpe Ratio Rank: 75
HXEM.TO Sortino Ratio Rank: 73
HXEM.TO Omega Ratio Rank: 71
HXEM.TO Calmar Ratio Rank: 79
HXEM.TO Martin Ratio Rank: 70

VEE.TO

VEE.TO Risk / Return Rank: 61
VEE.TO Sharpe Ratio Rank: 63
VEE.TO Sortino Ratio Rank: 61
VEE.TO Omega Ratio Rank: 62
VEE.TO Calmar Ratio Rank: 61
VEE.TO Martin Ratio Rank: 59

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.

HXEM.TO vs. VEE.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) and Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO). 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.

	HXEM.TO	VEE.TO	Difference
Sharpe ratio Return per unit of total volatility	1.39	1.06	+0.33
Sortino ratio Return per unit of downside risk	1.89	1.50	+0.39
Omega ratio Gain probability vs. loss probability	1.27	1.22	+0.06
Calmar ratio Return relative to maximum drawdown	2.20	1.45	+0.76
Martin ratio Return relative to average drawdown	7.45	5.34	+2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HXEM.TO vs. VEE.TO - Sharpe Ratio Comparison

The current HXEM.TO Sharpe Ratio is 1.39, which is higher than the VEE.TO Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of HXEM.TO and VEE.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HXEM.TO	VEE.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.06	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.36	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.40	+0.04

Correlation

The correlation between HXEM.TO and VEE.TO is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HXEM.TO vs. VEE.TO - Dividend Comparison

HXEM.TO has not paid dividends to shareholders, while VEE.TO's dividend yield for the trailing twelve months is around 2.13%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HXEM.TO Global X Emerging Markets Equity Index Corporate Class ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	2.13%	2.26%	2.45%	2.83%	3.35%	2.18%	1.61%	2.71%	2.21%	1.89%	1.99%	2.53%

Drawdowns

HXEM.TO vs. VEE.TO - Drawdown Comparison

The maximum HXEM.TO drawdown since its inception was -35.00%, which is greater than VEE.TO's maximum drawdown of -29.84%. Use the drawdown chart below to compare losses from any high point for HXEM.TO and VEE.TO.

Drawdown Indicators

	HXEM.TO	VEE.TO	Difference
Max Drawdown Largest peak-to-trough decline	-35.00%	-29.84%	-5.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-12.77%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-30.44%	-26.10%	-4.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.84%	—
Current Drawdown Current decline from peak	-8.91%	-6.84%	-2.07%
Average Drawdown Average peak-to-trough decline	-14.12%	-8.82%	-5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.46%	+0.34%

Volatility

HXEM.TO vs. VEE.TO - Volatility Comparison

Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) has a higher volatility of 10.71% compared to Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) at 8.09%. This indicates that HXEM.TO's price experiences larger fluctuations and is considered to be riskier than VEE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HXEM.TO	VEE.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.71%	8.09%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	11.79%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	17.18%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	15.09%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	16.87%	-0.32%