PEPFX vs. EMXC
PEPFX (PIMCO RAE Emerging Markets Fund) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both funds - PEPFX is a Emerging Markets Diversified fund managed by PIMCO, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Over the past 5 years, PEPFX returned 7.90%/yr vs 12.43%/yr for EMXC. Their correlation of 0.80 suggests significant overlap in exposure. PEPFX charges 0.85%/yr vs 0.49%/yr for EMXC.
Performance
PEPFX vs. EMXC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PEPFX achieves a 12.34% return, which is significantly lower than EMXC's 37.89% return.
PEPFX
- 1D
- 0.23%
- 1M
- -1.86%
- YTD
- 12.34%
- 6M
- 7.93%
- 1Y
- 23.30%
- 3Y*
- 15.98%
- 5Y*
- 7.90%
- 10Y*
- 11.51%
EMXC
- 1D
- -6.44%
- 1M
- 4.83%
- YTD
- 37.89%
- 6M
- 39.80%
- 1Y
- 67.97%
- 3Y*
- 27.65%
- 5Y*
- 12.43%
- 10Y*
- —
PEPFX vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEPFX PIMCO RAE Emerging Markets Fund | 12.34% | 20.60% | 2.45% | 22.46% | -10.50% | 15.79% | 9.76% | 13.56% | -12.62% | 8.87% |
EMXC iShares MSCI Emerging Markets ex China ETF | 37.89% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.16% |
Correlation
The correlation between PEPFX and EMXC is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017 | 0.80 |
The correlation between PEPFX and EMXC shifts across timeframes, from 0.69 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PEPFX vs. EMXC — Risk / Return Rank
PEPFX
EMXC
PEPFX vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Emerging Markets Fund (PEPFX) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.
| PEPFX | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.50 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 4.74 | -2.39 |
| Martin ratioReturn relative to average drawdown | 7.39 | 18.14 | -10.75 |
Loading charts...
Drawdowns
PEPFX vs. EMXC - Drawdown Comparison
The maximum PEPFX drawdown since its inception was -46.88%, which is greater than EMXC's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for PEPFX and EMXC.
Loading charts...
Drawdown Indicators
| PEPFX | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.88% | -42.81% | -4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -9.99% | -14.41% | +4.42% |
Max Drawdown (3Y)Largest decline over 3 years | -22.09% | -19.12% | -2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -28.91% | +2.73% |
Max Drawdown (10Y)Largest decline over 10 years | -46.88% | — | — |
Current DrawdownCurrent decline from peak | -5.04% | -6.44% | +1.40% |
Average DrawdownAverage peak-to-trough decline | -11.07% | -10.15% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 3.76% | -0.59% |
Volatility
PEPFX vs. EMXC - Volatility Comparison
The current volatility for PIMCO RAE Emerging Markets Fund (PEPFX) is 5.53%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 14.74%. This indicates that PEPFX experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PEPFX | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 14.74% | -9.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 23.44% | -10.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 25.27% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 18.40% | -3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.28% | 20.25% | -2.97% |
PEPFX vs. EMXC - Expense Ratio Comparison
PEPFX has a 0.85% expense ratio, which is higher than EMXC's 0.49% expense ratio.
Dividends
PEPFX vs. EMXC - Dividend Comparison
PEPFX's dividend yield for the trailing twelve months is around 2.59%, more than EMXC's 1.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 1.93% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% | 0.00% |
PEPFX PIMCO RAE Emerging Markets Fund | 2.59% | 2.91% | 1.99% | 4.05% | 11.30% | 9.12% | 9.73% | 2.21% | 11.05% | 8.06% | 2.74% | 2.46% |
Frequently Asked Questions
PEPFX and EMXC have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (14.74%) compared to PEPFX (5.53%). In terms of maximum drawdown, PEPFX dropped -46.88% vs EMXC's -42.81%.
EMXC currently has the higher Sharpe Ratio (2.70 vs 1.59), 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.
Find the right allocation for PEPFX and EMXC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer