KEMX vs. EVLU
KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - KEMX tracks the MSCI Emerging Markets ex China Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, KEMX returned 56.00% vs 54.31% for EVLU. Their correlation of 0.85 means they have usually moved in the same direction. KEMX charges 0.25%/yr vs 0.35%/yr for EVLU.
Performance
KEMX vs. EVLU - Performance Comparison
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Returns By Period
In the year-to-date period, KEMX achieves a 30.22% return, which is significantly higher than EVLU's 27.72% return.
KEMX
- 1D
- 0.80%
- 1M
- -4.08%
- 6M
- 16.35%
- YTD
- 30.22%
- 1Y
- 56.00%
- 3Y*
- 25.12%
- 5Y*
- 12.08%
- 10Y*
- —
- ALL TIME*
- 12.50%
EVLU
- 1D
- 1.05%
- 1M
- 1.55%
- 6M
- 17.67%
- YTD
- 27.72%
- 1Y
- 54.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 35.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $177.11K | $141.92K | $126.02K | |
| $527.87K | $528.96K | $586.53K |
KEMX vs. EVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 30.22% | 38.28% | -5.81% |
EVLU iShares MSCI Emerging Markets Value Factor ETF | 27.72% | 38.54% | 1.21% |
Correlation
The correlation between KEMX and EVLU is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.85 |
The correlation between KEMX and EVLU has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
KEMX vs. EVLU — Risk / Return Rank
KEMX
EVLU
KEMX vs. EVLU - 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 iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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 | EVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.45 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 4.23 | -0.74 |
| Martin ratioReturn relative to average drawdown | 10.97 | 12.22 | -1.24 |
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Drawdowns
KEMX vs. EVLU - Drawdown Comparison
The maximum KEMX drawdown since its inception was -38.80%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for KEMX and EVLU.
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Drawdown Indicators
| KEMX | EVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -17.17% | -21.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.11% | -12.90% | -3.21% |
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 | -11.37% | -6.86% | -4.51% |
Average DrawdownAverage peak-to-trough decline | -8.82% | -3.76% | -5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 4.46% | +0.66% |
Volatility
KEMX vs. EVLU - Volatility Comparison
KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a higher volatility of 9.60% compared to iShares MSCI Emerging Markets Value Factor ETF (EVLU) at 6.42%. This indicates that KEMX's price experiences larger fluctuations and is considered to be riskier than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KEMX | EVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.60% | 6.42% | +3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 24.90% | 18.35% | +6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 20.92% | +6.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.41% | 20.36% | -0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 20.36% | +1.15% |
KEMX vs. EVLU - Expense Ratio Comparison
KEMX has a 0.25% expense ratio, which is lower than EVLU's 0.35% expense ratio.
Dividends
KEMX vs. EVLU - Dividend Comparison
KEMX's dividend yield for the trailing twelve months is around 2.52%, less than EVLU's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EVLU iShares MSCI Emerging Markets Value Factor ETF | 3.81% | 5.20% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.52% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% |
Frequently Asked Questions
KEMX and EVLU have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMX has higher volatility (9.60%) compared to EVLU (6.42%). In terms of maximum drawdown, KEMX dropped -38.80% vs EVLU's -17.17%.
On 1-year performance, KEMX leads with 56.00% vs 54.31% for EVLU. On fees, KEMX is cheaper at 0.25% per year. On volatility, EVLU has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KEMX has performed better with a 56.00% return vs 54.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMX is cheaper with a 0.25% expense ratio, compared with 0.35% for EVLU.
EVLU has the higher dividend yield at 3.81%, compared with 2.52% for KEMX.
KEMX tracks MSCI Emerging Markets ex China Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: CICC and iShares. Their fees differ too: 0.25% for KEMX and 0.35% for EVLU.
EVLU currently has the higher Sharpe Ratio (2.61 vs 2.09), 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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