KEMX vs. VWO
Compare and contrast key facts about KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) and Vanguard FTSE Emerging Markets ETF (VWO).
KEMX and VWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KEMX is a passively managed fund by CICC that tracks the performance of the MSCI Emerging Markets ex China Index. It was launched on Apr 12, 2019. VWO is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Index. It was launched on Mar 4, 2005. Both KEMX and VWO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
KEMX vs. VWO - Performance Comparison
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KEMX vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 10.61% | 38.28% | 0.36% | 20.57% | -19.35% | 10.55% | 12.84% | 7.93% |
VWO Vanguard FTSE Emerging Markets ETF | 0.84% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 15.17% | 5.00% |
Returns By Period
In the year-to-date period, KEMX achieves a 10.61% return, which is significantly higher than VWO's 0.84% return.
KEMX
- 1D
- 1.15%
- 1M
- -8.33%
- YTD
- 10.61%
- 6M
- 21.39%
- 1Y
- 51.35%
- 3Y*
- 20.78%
- 5Y*
- 9.30%
- 10Y*
- —
VWO
- 1D
- 0.30%
- 1M
- -5.29%
- YTD
- 0.84%
- 6M
- 1.39%
- 1Y
- 22.71%
- 3Y*
- 13.84%
- 5Y*
- 3.90%
- 10Y*
- 7.66%
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KEMX vs. VWO - Expense Ratio Comparison
KEMX has a 0.25% expense ratio, which is higher than VWO's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
KEMX vs. VWO — Risk / Return Rank
KEMX
VWO
KEMX vs. VWO - 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 Vanguard FTSE Emerging Markets ETF (VWO). 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.
| KEMX | VWO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.41 | 1.28 | +1.13 |
Sortino ratioReturn per unit of downside risk | 3.05 | 1.80 | +1.25 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.26 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 3.39 | 1.89 | +1.50 |
Martin ratioReturn relative to average drawdown | 13.94 | 7.18 | +6.76 |
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
| KEMX | VWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.41 | 1.28 | +1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.23 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.25 | +0.26 |
Correlation
The correlation between KEMX and VWO is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
KEMX vs. VWO - Dividend Comparison
KEMX's dividend yield for the trailing twelve months is around 2.97%, more than VWO's 2.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.97% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.68% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Drawdowns
KEMX vs. VWO - Drawdown Comparison
The maximum KEMX drawdown since its inception was -38.80%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for KEMX and VWO.
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Drawdown Indicators
| KEMX | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -67.68% | +28.88% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | -12.23% | -3.13% |
Max Drawdown (5Y)Largest decline over 5 years | -30.85% | -32.80% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -10.66% | -8.13% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -9.02% | -15.93% | +6.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.73% | 3.22% | +0.51% |
Volatility
KEMX vs. VWO - Volatility Comparison
KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a higher volatility of 11.42% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 7.41%. This indicates that KEMX's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KEMX | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.42% | 7.41% | +4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.99% | 12.26% | +4.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.41% | 17.83% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.56% | 17.21% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 19.18% | +1.43% |