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RCL vs. EMXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RCL vs. EMXC

Last updated Jun 13, 2026

RCL (Royal Caribbean Cruises Ltd.) is a stock, while EMXC (iShares MSCI Emerging Markets ex China ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Over the past 5 years, RCL returned 27.43%/yr vs 12.14%/yr for EMXC. At a 0.42 correlation, their price movements are largely independent.

Performance

RCL vs. EMXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royal Caribbean Cruises Ltd. (RCL) and iShares MSCI Emerging Markets ex China ETF (EMXC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RCL achieves a 6.66% return, which is significantly lower than EMXC's 37.25% return.

RCL

1D
2.23%
1M
12.00%
YTD
6.66%
6M
7.04%
1Y
12.68%
3Y*
46.74%
5Y*
27.43%
10Y*
16.48%

EMXC

1D
0.55%
1M
3.75%
YTD
37.25%
6M
42.23%
1Y
65.26%
3Y*
26.47%
5Y*
12.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

RCL vs. EMXC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RCL
Royal Caribbean Cruises Ltd.		6.66%22.46%78.98%161.97%-35.72%2.96%-43.50%39.94%-16.13%4.83%
EMXC
iShares MSCI Emerging Markets ex China ETF		37.25%35.14%2.68%18.96%-19.56%8.54%12.76%15.80%-12.96%7.16%

Correlation

The correlation between RCL and EMXC is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.34

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2017

0.42

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Royal Caribbean Cruises Ltd.

iShares MSCI Emerging Markets ex China ETF

Often compared with RCL:
RCL vs. NCLHRCL vs. CCLRCL vs. SPYRCL vs. DALRCL vs. VOORCL vs. CCL.LRCL vs. VIK
Often compared with EMXC:
EMXC vs. XCEMEMXC vs. IEMGEMXC vs. VWOEMXC vs. EEMEMXC vs. SPEMEMXC vs. VEXCEMXC vs. VNM

Return for Risk

RCL vs. EMXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RCL
RCL Risk / Return Rank: 5151
Overall Rank
RCL Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
RCL Sortino Ratio Rank: 5151
Sortino Ratio Rank
RCL Omega Ratio Rank: 4848
Omega Ratio Rank
RCL Calmar Ratio Rank: 5252
Calmar Ratio Rank
RCL Martin Ratio Rank: 5050
Martin Ratio Rank
EMXC
EMXC Risk / Return Rank: 8989
Overall Rank
EMXC Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 8686
Sortino Ratio Rank
EMXC Omega Ratio Rank: 9090
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8888
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8989
Martin Ratio Rank
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.

RCL vs. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Caribbean Cruises Ltd. (RCL) 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.

RCLEMXCDifference
Sharpe ratioReturn per unit of total volatility
0.27
2.74

-2.47

Sortino ratioReturn per unit of downside risk
0.77
3.35

-2.57

Omega ratioGain probability vs. loss probability

1.09

1.50

-0.41

Calmar ratioReturn relative to maximum drawdown

0.39

4.55

-4.16

Martin ratioReturn relative to average drawdown

0.66

17.51

-16.85

RCL vs. EMXC - Sharpe Ratio Comparison

The current RCL Sharpe Ratio is 0.27, which is lower than the EMXC Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of RCL and EMXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

RCL vs. EMXC - Drawdown Comparison

The maximum RCL drawdown since its inception was -89.49%, which is greater than EMXC's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for RCL and EMXC.

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Drawdown Indicators

RCLEMXCDifference

Max Drawdown

Largest peak-to-trough decline

-89.49%

-42.81%

-46.68%

Max Drawdown (1Y)

Largest decline over 1 year

-32.36%

-14.41%

-17.95%

Max Drawdown (3Y)

Largest decline over 3 years

-35.02%

-19.12%

-15.90%

Max Drawdown (5Y)

Largest decline over 5 years

-67.64%

-28.91%

-38.73%

Max Drawdown (10Y)

Largest decline over 10 years

-83.30%

—

—

Current Drawdown

Current decline from peak

-18.16%

-4.12%

-14.04%

Average Drawdown

Average peak-to-trough decline

-27.76%

-10.17%

-17.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

19.15%

3.74%

+15.41%

Volatility

RCL vs. EMXC - Volatility Comparison

Royal Caribbean Cruises Ltd. (RCL) has a higher volatility of 14.15% compared to iShares MSCI Emerging Markets ex China ETF (EMXC) at 12.83%. This indicates that RCL's price experiences larger fluctuations and is considered to be riskier than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RCLEMXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.15%

12.83%

+1.32%

Volatility (6M)

Calculated over the trailing 6-month period

38.00%

21.90%

+16.10%

Volatility (1Y)

Calculated over the trailing 1-year period

46.50%

23.90%

+22.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

48.52%

18.00%

+30.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

53.35%

20.07%

+33.28%

Dividends

RCL vs. EMXC - Dividend Comparison

RCL's dividend yield for the trailing twelve months is around 1.70%, less than EMXC's 2.05% yield.

PositionTTM20252024202320222021202020192018201720162015
EMXC
iShares MSCI Emerging Markets ex China ETF		2.05%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%0.00%0.00%
RCL
Royal Caribbean Cruises Ltd.		1.70%1.25%0.41%0.00%0.00%0.00%1.04%2.22%2.66%1.81%2.08%1.33%

Frequently Asked Questions

RCL and EMXC have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RCL has higher volatility (14.15%) compared to EMXC (12.83%). In terms of maximum drawdown, RCL dropped -89.49% vs EMXC's -42.81%.

EMXC currently has the higher Sharpe Ratio (2.74 vs 0.27), 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.

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