IMVP vs. EMXC
IMVP (Invesco India ETF) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both Emerging Markets Equities funds - IMVP tracks the FTSE India Quality and Yield Select Index while EMXC tracks the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 5 years, IMVP returned 2.42%/yr vs 12.76%/yr for EMXC. A 0.64 correlation means they provide meaningful diversification when combined. IMVP charges 0.78%/yr vs 0.49%/yr for EMXC.
Performance
IMVP vs. EMXC - Performance Comparison
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Returns By Period
In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than EMXC's 41.72% return.
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
EMXC
- 1D
- -1.00%
- 1M
- 12.61%
- YTD
- 41.72%
- 6M
- 46.94%
- 1Y
- 77.94%
- 3Y*
- 29.08%
- 5Y*
- 12.76%
- 10Y*
- —
IMVP vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 6.65% |
EMXC iShares MSCI Emerging Markets ex China ETF | 41.72% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.01% |
Correlation
The correlation between IMVP and EMXC is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2017 | 0.64 |
The correlation between IMVP and EMXC has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.
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Return for Risk
IMVP vs. EMXC — Risk / Return Rank
IMVP
EMXC
IMVP vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.
| IMVP | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.66 | ||
| Sortino ratioReturn per unit of downside risk | -5.86 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.64 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 5.44 | -6.23 |
| Martin ratioReturn relative to average drawdown | -1.84 | 21.99 | -23.83 |
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
| IMVP | EMXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 3.61 | -4.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.74 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.55 | -0.43 |
Drawdowns
IMVP vs. EMXC - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, which is greater than EMXC's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for IMVP and EMXC.
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Drawdown Indicators
| IMVP | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -42.81% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -21.44% | -14.41% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -19.12% | -6.68% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -28.91% | +3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | — | — |
Current DrawdownCurrent decline from peak | -23.71% | -1.00% | -22.71% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -10.19% | -6.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 3.56% | +5.60% |
Volatility
IMVP vs. EMXC - Volatility Comparison
The current volatility for Invesco India ETF (IMVP) is 6.00%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 9.88%. This indicates that IMVP experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMVP | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 9.88% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 19.34% | -5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 21.70% | -5.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 17.45% | -1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 19.82% | -0.23% |
IMVP vs. EMXC - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is higher than EMXC's 0.49% expense ratio.
Dividends
IMVP vs. EMXC - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 8.81%, more than EMXC's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 1.99% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% | 0.00% |
IMVP Invesco India ETF | 8.81% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
Frequently Asked Questions
IMVP and EMXC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (9.88%) compared to IMVP (6.00%). In terms of maximum drawdown, IMVP dropped -64.54% vs EMXC's -42.81%.
On 5-year performance, EMXC leads with 12.76% vs 2.42% for IMVP. On fees, EMXC is cheaper at 0.49% per year. On volatility, IMVP has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMXC has performed better with a 12.76% return vs 2.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMXC is cheaper with a 0.49% expense ratio, compared with 0.78% for IMVP.
IMVP has the higher dividend yield at 8.81%, compared with 1.99% for EMXC.
IMVP tracks FTSE India Quality and Yield Select Index, while EMXC tracks MSCI Emerging Markets ex China Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.78% for IMVP and 0.49% for EMXC.
EMXC currently has the higher Sharpe Ratio (3.61 vs -1.05), 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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