KEMX vs. EPIN

Last updated Jul 17, 2026

KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) and EPIN (Harbor International Equity ETF) are both Foreign Large Cap Equities funds. KEMX is passively managed, while EPIN is actively managed. Over the past year, KEMX returned 53.99% vs 34.90% for EPIN. Their correlation of 0.84 suggests significant overlap in exposure. KEMX charges 0.25%/yr vs 0.80%/yr for EPIN.

Performance

KEMX vs. EPIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) and Harbor International Equity ETF (EPIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KEMX achieves a 30.63% return, which is significantly higher than EPIN's 21.71% return.

KEMX

• 1D: -2.10%
• 1M: -7.36%
• 6M: 22.54%
• YTD: 30.63%
• 1Y: 53.99%
• 3Y*: 24.03%
• 5Y*: 12.43%
• 10Y*: —

EPIN

• 1D: -1.31%
• 1M: -1.48%
• 6M: 14.51%
• YTD: 21.71%
• 1Y: 34.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEMX vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
KEMX KraneShares MSCI Emerging Markets ex China Index ETF	30.63%	25.19%
EPIN Harbor International Equity ETF	21.71%	14.36%

Correlation

The correlation between KEMX and EPIN is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.84

The correlation between KEMX and EPIN has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

KEMX vs. EPIN - Sectors Allocation Comparison

Sectors	KEMX	EPIN
Technology	46.8%	34.1%
Financial Services	18.7%	17.7%
Industrials	7.6%	20.4%
Basic Materials	7.6%	7.3%
Consumer Cyclical	5.5%	6.1%
Energy	4.0%	4.2%
Communication Services	2.9%	1.2%
Consumer Defensive	2.6%	2.5%
Utilities	1.7%	-
Healthcare	1.5%	6.6%
Real Estate	1.0%	-

Return for Risk

KEMX vs. EPIN — Risk / Return Rank

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

KEMX

KEMX Risk / Return Rank: 79
KEMX Sharpe Ratio Rank: 82
KEMX Sortino Ratio Rank: 72
KEMX Omega Ratio Rank: 80
KEMX Calmar Ratio Rank: 83
KEMX Martin Ratio Rank: 81

EPIN

EPIN Risk / Return Rank: 72
EPIN Sharpe Ratio Rank: 72
EPIN Sortino Ratio Rank: 69
EPIN Omega Ratio Rank: 71
EPIN Calmar Ratio Rank: 74
EPIN Martin Ratio Rank: 75

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.

KEMX vs. EPIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) and Harbor International Equity ETF (EPIN). 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.

	KEMX	EPIN	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.84	+0.23
Sortino ratio: Return per unit of downside risk	2.61	2.53	+0.08
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	3.53	3.01	+0.52
Martin ratio: Return relative to average drawdown	12.27	11.10	+1.16

KEMX vs. EPIN - Sharpe Ratio Comparison

The current KEMX Sharpe Ratio is 2.08, which is comparable to the EPIN Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of KEMX and EPIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KEMX vs. EPIN - Drawdown Comparison

The maximum KEMX drawdown since its inception was -38.80%, which is greater than EPIN's maximum drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for KEMX and EPIN.

Drawdown Indicators

	KEMX	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-38.80%	-11.64%	-27.16%
Max Drawdown (1Y) Largest decline over 1 year	-15.36%	-11.64%	-3.72%
Max Drawdown (3Y) Largest decline over 3 years	-19.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.85%	—	—
Current Drawdown Current decline from peak	-11.09%	-3.78%	-7.31%
Average Drawdown Average peak-to-trough decline	-8.80%	-1.84%	-6.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.41%	3.15%	+1.26%

Volatility

KEMX vs. EPIN - Volatility Comparison

KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a higher volatility of 10.24% compared to Harbor International Equity ETF (EPIN) at 5.63%. This indicates that KEMX's price experiences larger fluctuations and is considered to be riskier than EPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KEMX	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.24%	5.63%	+4.61%
Volatility (6M) Calculated over the trailing 6-month period	24.24%	16.97%	+7.27%
Volatility (1Y) Calculated over the trailing 1-year period	26.14%	19.04%	+7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	18.47%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.42%	18.47%	+2.95%

KEMX vs. EPIN - Expense Ratio Comparison

KEMX has a 0.25% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

KEMX vs. EPIN - Dividend Comparison

KEMX's dividend yield for the trailing twelve months is around 2.51%, more than EPIN's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EPIN Harbor International Equity ETF	0.65%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KEMX KraneShares MSCI Emerging Markets ex China Index ETF	2.51%	3.28%	3.39%	2.00%	4.10%	4.79%	1.69%	2.77%

Frequently Asked Questions

Can I hold both KEMX and EPIN in my portfolio?

KEMX and EPIN have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KEMX or EPIN?

KEMX has higher volatility (10.24%) compared to EPIN (5.63%). In terms of maximum drawdown, KEMX dropped -38.80% vs EPIN's -11.64%.

Which ETF is better, KEMX or EPIN?

On 1-year performance, KEMX leads with 53.99% vs 34.90% for EPIN. On fees, KEMX is cheaper at 0.25% per year. On volatility, EPIN has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEMX or EPIN?

Over the 1-year period, KEMX has performed better with a 53.99% return vs 34.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEMX or EPIN?

KEMX is cheaper with a 0.25% expense ratio, compared with 0.80% for EPIN.

Which ETF pays a higher dividend yield, KEMX or EPIN?

KEMX has the higher dividend yield at 2.51%, compared with 0.65% for EPIN.

What is the main difference between KEMX and EPIN?

They also come from different issuers: CICC and Harbor. Their fees differ too: 0.25% for KEMX and 0.80% for EPIN.

Which has better risk-adjusted returns?

KEMX currently has the higher Sharpe Ratio (2.08 vs 1.84), 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.