LDEM vs. VEXC

Last updated Jun 25, 2026

LDEM (iShares ESG MSCI EM Leaders ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - LDEM tracks the MSCI EM Extended ESG Leaders 5% Issuer Capped Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. LDEM charges 0.16%/yr vs 0.07%/yr for VEXC.

Performance

LDEM vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG MSCI EM Leaders ETF (LDEM) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDEM achieves a 3.61% return, which is significantly lower than VEXC's 19.77% return.

LDEM

• 1D: -0.86%
• 1M: -1.29%
• YTD: 3.61%
• 6M: 3.12%
• 1Y: 15.34%
• 3Y*: 13.82%
• 5Y*: 1.25%
• 10Y*: —

VEXC

• 1D: -0.75%
• 1M: 2.90%
• YTD: 19.77%
• 6M: 20.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LDEM vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
LDEM iShares ESG MSCI EM Leaders ETF	3.61%	0.17%
VEXC Vanguard Emerging Markets Ex-China ETF	19.77%	4.50%

Correlation

The correlation between LDEM and VEXC is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.90

Return for Risk

LDEM vs. VEXC — Risk / Return Rank

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

LDEM

LDEM Risk / Return Rank: 26
LDEM Sharpe Ratio Rank: 25
LDEM Sortino Ratio Rank: 24
LDEM Omega Ratio Rank: 26
LDEM Calmar Ratio Rank: 26
LDEM Martin Ratio Rank: 29

VEXC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

LDEM vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI EM Leaders ETF (LDEM) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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.

	LDEM	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	0.83	—	—
Sortino ratio: Return per unit of downside risk	1.24	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.17	—	—
Martin ratio: Return relative to average drawdown	3.64	—	—

Drawdowns

LDEM vs. VEXC - Drawdown Comparison

The maximum LDEM drawdown since its inception was -40.82%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for LDEM and VEXC.

Drawdown Indicators

	LDEM	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-40.82%	-12.42%	-28.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.17%	—	—
Current Drawdown Current decline from peak	-6.90%	-4.05%	-2.85%
Average Drawdown Average peak-to-trough decline	-17.25%	-2.24%	-15.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	—	—

Volatility

Volatility by Period

	LDEM	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	20.24%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.42%	20.24%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.91%	20.24%	+0.67%

LDEM vs. VEXC - Expense Ratio Comparison

LDEM has a 0.16% expense ratio, which is higher than VEXC's 0.07% 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%.

Dividends

LDEM vs. VEXC - Dividend Comparison

LDEM's dividend yield for the trailing twelve months is around 2.96%, more than VEXC's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
LDEM iShares ESG MSCI EM Leaders ETF	2.96%	3.26%	2.64%	3.20%	4.93%	1.82%	1.89%
VEXC Vanguard Emerging Markets Ex-China ETF	1.44%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDEM and VEXC in my portfolio?

With a correlation of 0.90, LDEM and VEXC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, LDEM or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDEM or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.16% for LDEM.

Which ETF pays a higher dividend yield, LDEM or VEXC?

LDEM has the higher dividend yield at 2.96%, compared with 1.44% for VEXC.

What is the main difference between LDEM and VEXC?

LDEM tracks MSCI EM Extended ESG Leaders 5% Issuer Capped Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.16% for LDEM and 0.07% for VEXC.