QAT vs. VEXC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Qatar ETF (QAT) and Vanguard Emerging Markets Ex-China ETF (VEXC).

QAT and VEXC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QAT is a passively managed fund by iShares that tracks the performance of the MSCI All Qatar Capped Index. It was launched on Apr 29, 2014. VEXC is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging ex China Index. It was launched on Sep 30, 2025. Both QAT and VEXC 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

QAT vs. VEXC - Performance Comparison

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

QAT vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
QAT iShares MSCI Qatar ETF	-1.16%	-1.19%
VEXC Vanguard Emerging Markets Ex-China ETF	2.61%	4.80%

Returns By Period

In the year-to-date period, QAT achieves a -1.16% return, which is significantly lower than VEXC's 2.61% return.

QAT

• 1D: 2.22%
• 1M: -4.42%
• YTD: -1.16%
• 6M: -3.61%
• 1Y: 8.10%
• 3Y*: 5.46%
• 5Y*: 3.59%
• 10Y*: 3.21%

VEXC

• 1D: 3.26%
• 1M: -8.07%
• YTD: 2.61%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QAT vs. VEXC - Expense Ratio Comparison

QAT has a 0.59% expense ratio, which is higher than VEXC's 0.07% expense ratio.

QAT

iShares MSCI Qatar ETF

VEXC

Vanguard Emerging Markets Ex-China ETF

Return for Risk

QAT vs. VEXC — Risk / Return Rank

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

QAT

QAT Risk / Return Rank: 31
QAT Sharpe Ratio Rank: 34
QAT Sortino Ratio Rank: 31
QAT Omega Ratio Rank: 32
QAT Calmar Ratio Rank: 34
QAT Martin Ratio Rank: 25

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.

QAT vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Qatar ETF (QAT) 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.

	QAT	VEXC	Difference
Sharpe ratio Return per unit of total volatility	0.62	—	—
Sortino ratio Return per unit of downside risk	0.86	—	—
Omega ratio Gain probability vs. loss probability	1.13	—	—
Calmar ratio Return relative to maximum drawdown	0.82	—	—
Martin ratio Return relative to average drawdown	1.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	QAT	VEXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.92	-0.85

Correlation

The correlation between QAT and VEXC is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QAT vs. VEXC - Dividend Comparison

QAT's dividend yield for the trailing twelve months is around 3.55%, more than VEXC's 0.86% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QAT iShares MSCI Qatar ETF	3.55%	3.51%	5.90%	3.92%	4.78%	2.33%	2.63%	3.57%	4.63%	4.10%	3.51%	4.49%
VEXC Vanguard Emerging Markets Ex-China ETF	0.86%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QAT vs. VEXC - Drawdown Comparison

The maximum QAT drawdown since its inception was -45.21%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for QAT and VEXC.

Drawdown Indicators

	QAT	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-45.21%	-12.42%	-32.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	—	—
Current Drawdown Current decline from peak	-13.45%	-9.57%	-3.88%
Average Drawdown Average peak-to-trough decline	-19.29%	-2.27%	-17.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.81%	—	—

Volatility

Volatility by Period

	QAT	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	17.51%	-4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	17.51%	-2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	17.51%	+0.09%