IBC4.DE vs. EMXC.DE
IBC4.DE (iShares MSCI South Africa UCITS ETF USD (Acc)) and EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both Emerging Markets Equities funds - IBC4.DE tracks the MSCI South Africa Capped Index while EMXC.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, IBC4.DE returned 11.49%/yr vs 13.80%/yr for EMXC.DE. A 0.62 correlation means they provide meaningful diversification when combined. IBC4.DE charges 0.65%/yr vs 0.15%/yr for EMXC.DE.
Performance
IBC4.DE vs. EMXC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC4.DE achieves a -1.83% return, which is significantly lower than EMXC.DE's 43.03% return.
IBC4.DE
- 1D
- 0.65%
- 1M
- -0.00%
- 6M
- -2.26%
- YTD
- -1.83%
- 1Y
- 32.92%
- 3Y*
- 22.90%
- 5Y*
- 11.49%
- 10Y*
- 7.19%
EMXC.DE
- 1D
- 2.86%
- 1M
- 0.14%
- 6M
- 39.96%
- YTD
- 43.03%
- 1Y
- 64.73%
- 3Y*
- 25.39%
- 5Y*
- 13.80%
- 10Y*
- —
IBC4.DE vs. EMXC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | -1.83% | 57.35% | 14.83% | -3.10% | 1.72% | 12.68% | -11.83% | 0.69% |
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 43.03% | 19.92% | 9.13% | 14.31% | -13.59% | 17.56% | 2.25% | -4.50% |
Correlation
The correlation between IBC4.DE and EMXC.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2019 | 0.62 |
The correlation between IBC4.DE and EMXC.DE has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
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Return for Risk
IBC4.DE vs. EMXC.DE — Risk / Return Rank
IBC4.DE
EMXC.DE
IBC4.DE vs. EMXC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE). 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.
| IBC4.DE | EMXC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.51 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 5.42 | -3.90 |
| Martin ratioReturn relative to average drawdown | 3.57 | 18.82 | -15.25 |
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Drawdowns
IBC4.DE vs. EMXC.DE - Drawdown Comparison
The maximum IBC4.DE drawdown since its inception was -55.48%, which is greater than EMXC.DE's maximum drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for IBC4.DE and EMXC.DE.
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Drawdown Indicators
| IBC4.DE | EMXC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -40.89% | -14.59% |
Max Drawdown (1Y)Largest decline over 1 year | -21.54% | -11.87% | -9.67% |
Max Drawdown (3Y)Largest decline over 3 years | -21.54% | -20.47% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -29.74% | -20.47% | -9.27% |
Max Drawdown (10Y)Largest decline over 10 years | -55.48% | — | — |
Current DrawdownCurrent decline from peak | -16.46% | -5.27% | -11.19% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -7.72% | -9.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.21% | 3.43% | +5.78% |
Volatility
IBC4.DE vs. EMXC.DE - Volatility Comparison
The current volatility for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) is 8.06%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a volatility of 10.93%. This indicates that IBC4.DE experiences smaller price fluctuations and is considered to be less risky than EMXC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC4.DE | EMXC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.06% | 10.93% | -2.87% |
Volatility (6M)Calculated over the trailing 6-month period | 25.34% | 19.82% | +5.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.76% | 22.15% | +7.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.63% | 16.49% | +9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 19.10% | +8.74% |
IBC4.DE vs. EMXC.DE - Expense Ratio Comparison
IBC4.DE has a 0.65% expense ratio, which is higher than EMXC.DE's 0.15% expense ratio.
Dividends
IBC4.DE vs. EMXC.DE - Dividend Comparison
Neither IBC4.DE nor EMXC.DE has paid dividends to shareholders.
Frequently Asked Questions
IBC4.DE and EMXC.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMXC.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMXC.DE is cheaper with a 0.15% expense ratio, compared with 0.65% for IBC4.DE.
IBC4.DE tracks MSCI South Africa Capped Index, while EMXC.DE tracks MSCI EM NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.65% for IBC4.DE and 0.15% for EMXC.DE.
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