IVSI vs. KEMX
IVSI (Applied Finance IVS International Large ETF) and KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) are both Foreign Large Cap Equities funds. IVSI is actively managed, while KEMX is passively managed. A 0.76 correlation means they provide meaningful diversification when combined. IVSI charges 0.65%/yr vs 0.25%/yr for KEMX.
Performance
IVSI vs. KEMX - Performance Comparison
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Returns By Period
In the year-to-date period, IVSI achieves a 10.03% return, which is significantly lower than KEMX's 38.57% return.
IVSI
- 1D
- -1.39%
- 1M
- 0.22%
- YTD
- 10.03%
- 6M
- 10.05%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KEMX
- 1D
- -5.69%
- 1M
- 5.55%
- YTD
- 38.57%
- 6M
- 40.16%
- 1Y
- 71.39%
- 3Y*
- 28.36%
- 5Y*
- 13.33%
- 10Y*
- —
IVSI vs. KEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IVSI Applied Finance IVS International Large ETF | 10.03% | 0.66% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 38.57% | 1.92% |
Correlation
The correlation between IVSI and KEMX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.76 |
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Return for Risk
IVSI vs. KEMX — Risk / Return Rank
IVSI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KEMX
IVSI vs. KEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International Large ETF (IVSI) 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.
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.
| IVSI | KEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.51 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.67 | — |
| Martin ratioReturn relative to average drawdown | — | 17.76 | — |
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Drawdowns
IVSI vs. KEMX - Drawdown Comparison
The maximum IVSI drawdown since its inception was -11.73%, smaller than the maximum KEMX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for IVSI and KEMX.
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Drawdown Indicators
| IVSI | KEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.73% | -38.80% | +27.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.36% | — |
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 | -1.94% | -5.69% | +3.75% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -8.82% | +6.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.03% | — |
Volatility
IVSI vs. KEMX - Volatility Comparison
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Volatility by Period
| IVSI | KEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 23.20% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 25.26% | -7.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.83% | 18.96% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.83% | 21.33% | -3.50% |
IVSI vs. KEMX - Expense Ratio Comparison
IVSI has a 0.65% expense ratio, which is higher than KEMX's 0.25% expense ratio.
Dividends
IVSI vs. KEMX - Dividend Comparison
IVSI's dividend yield for the trailing twelve months is around 0.04%, less than KEMX's 2.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVSI Applied Finance IVS International Large ETF | 0.04% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.37% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% |
Frequently Asked Questions
IVSI and KEMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KEMX is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KEMX is cheaper with a 0.25% expense ratio, compared with 0.65% for IVSI.
KEMX has the higher dividend yield at 2.37%, compared with 0.04% for IVSI.
They also come from different issuers: Applied Finance and CICC. Their fees differ too: 0.65% for IVSI and 0.25% for KEMX.
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