IEMG vs. XC
IEMG (iShares Core MSCI Emerging Markets ETF) and XC (WisdomTree Emerging Markets ex-China Fund) are both Emerging Markets Diversified funds - IEMG tracks the MSCI Emerging Markets Investable Market Index (USD) (Net) while XC tracks the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, IEMG returned 22.21%/yr vs 10.25%/yr for XC. Their correlation of 0.84 suggests significant overlap in exposure. IEMG charges 0.09%/yr vs 0.32%/yr for XC.
Performance
IEMG vs. XC - Performance Comparison
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Returns By Period
In the year-to-date period, IEMG achieves a 22.14% return, which is significantly higher than XC's -2.14% return.
IEMG
- 1D
- 0.16%
- 1M
- 1.90%
- YTD
- 22.14%
- 6M
- 22.65%
- 1Y
- 40.36%
- 3Y*
- 22.21%
- 5Y*
- 6.93%
- 10Y*
- 10.40%
XC
- 1D
- -0.18%
- 1M
- 0.45%
- YTD
- -2.14%
- 6M
- -2.43%
- 1Y
- 3.87%
- 3Y*
- 10.25%
- 5Y*
- —
- 10Y*
- —
IEMG vs. XC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 22.14% | 32.56% | 6.50% | 11.52% | 3.59% |
XC WisdomTree Emerging Markets ex-China Fund | -2.14% | 18.19% | 5.49% | 21.31% | 1.58% |
Correlation
The correlation between IEMG and XC is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.84 |
The correlation between IEMG and XC has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
IEMG vs. XC — Risk / Return Rank
IEMG
XC
IEMG vs. XC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) 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.
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.
| IEMG | XC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.06 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 0.31 | +2.76 |
| Martin ratioReturn relative to average drawdown | 11.18 | 0.82 | +10.36 |
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Drawdowns
IEMG vs. XC - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, which is greater than XC's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for IEMG and XC.
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Drawdown Indicators
| IEMG | XC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -20.97% | -17.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -12.47% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -20.97% | +3.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | — | — |
Current DrawdownCurrent decline from peak | -5.29% | -8.11% | +2.82% |
Average DrawdownAverage peak-to-trough decline | -12.93% | -4.17% | -8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 4.72% | -1.10% |
Volatility
IEMG vs. XC - Volatility Comparison
iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 12.22% compared to WisdomTree Emerging Markets ex-China Fund (XC) at 5.04%. This indicates that IEMG'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.
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Volatility by Period
| IEMG | XC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.22% | 5.04% | +7.18% |
Volatility (6M)Calculated over the trailing 6-month period | 20.12% | 13.19% | +6.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.11% | 15.07% | +7.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 15.91% | +3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.19% | 15.91% | +4.28% |
IEMG vs. XC - Expense Ratio Comparison
IEMG has a 0.09% expense ratio, which is lower than XC's 0.32% expense ratio.
Dividends
IEMG vs. XC - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.21%, less than XC's 12.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 2.21% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
XC WisdomTree Emerging Markets ex-China Fund | 12.25% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEMG and XC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMG has higher volatility (12.22%) compared to XC (5.04%). In terms of maximum drawdown, IEMG dropped -38.71% vs XC's -20.97%.
On 3-year performance, IEMG leads with 22.21% vs 10.25% for XC. On fees, IEMG is cheaper at 0.09% per year. On volatility, XC has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEMG has performed better with a 22.21% return vs 10.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEMG is cheaper with a 0.09% expense ratio, compared with 0.32% for XC.
XC has the higher dividend yield at 12.25%, compared with 2.21% for IEMG.
IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.09% for IEMG and 0.32% for XC.
IEMG currently has the higher Sharpe Ratio (1.84 vs 0.26), 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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