QEMM vs. VEXC
QEMM (SPDR MSCI Emerging Markets StrategicFactors ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - QEMM tracks the MSCI EM Factor Mix A-Series (USD) while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. QEMM charges 0.30%/yr vs 0.07%/yr for VEXC.
Performance
QEMM vs. VEXC - Performance Comparison
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Returns By Period
In the year-to-date period, QEMM achieves a 24.39% return, which is significantly higher than VEXC's 20.21% return.
QEMM
- 1D
- -1.21%
- 1M
- 6.69%
- YTD
- 24.39%
- 6M
- 26.00%
- 1Y
- 42.27%
- 3Y*
- 19.52%
- 5Y*
- 7.37%
- 10Y*
- 8.96%
VEXC
- 1D
- -1.20%
- 1M
- 4.95%
- YTD
- 20.21%
- 6M
- 23.59%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QEMM vs. VEXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF | 24.39% | 2.94% |
VEXC Vanguard Emerging Markets Ex-China ETF | 20.21% | 4.80% |
Correlation
The correlation between QEMM 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 3, 2025 | 0.90 |
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Return for Risk
QEMM vs. VEXC — Risk / Return Rank
QEMM
VEXC
QEMM vs. VEXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) 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.
| QEMM | VEXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.48 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | — | — |
| Martin ratioReturn relative to average drawdown | 14.92 | — | — |
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
| QEMM | VEXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 2.21 | -1.87 |
Drawdowns
QEMM vs. VEXC - Drawdown Comparison
The maximum QEMM drawdown since its inception was -36.89%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for QEMM and VEXC.
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Drawdown Indicators
| QEMM | VEXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.89% | -12.42% | -24.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.89% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -1.20% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -10.64% | -2.23% | -8.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | — | — |
Volatility
QEMM vs. VEXC - Volatility Comparison
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Volatility by Period
| QEMM | VEXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.29% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.78% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 18.89% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 18.89% | -3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 18.89% | -2.00% |
QEMM vs. VEXC - Expense Ratio Comparison
QEMM has a 0.30% expense ratio, which is higher than VEXC's 0.07% expense ratio.
Dividends
QEMM vs. VEXC - Dividend Comparison
QEMM's dividend yield for the trailing twelve months is around 4.34%, more than VEXC's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF | 4.34% | 4.90% | 5.17% | 4.88% | 4.07% | 2.35% | 2.48% | 3.05% | 2.86% | 2.11% | 2.03% | 2.14% |
VEXC Vanguard Emerging Markets Ex-China ETF | 0.74% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, QEMM 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.
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.
VEXC is cheaper with a 0.07% expense ratio, compared with 0.30% for QEMM.
QEMM has the higher dividend yield at 4.34%, compared with 0.74% for VEXC.
QEMM tracks MSCI EM Factor Mix A-Series (USD), while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for QEMM and 0.07% for VEXC.
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