SCHE vs. EMCR

Last updated Jun 6, 2026

SCHE (Schwab Emerging Markets Equity ETF) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both Emerging Markets Equities funds - SCHE tracks the FTSE Emerging Index while EMCR tracks the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. Both are passively managed. Over the past 5 years, SCHE returned 4.08%/yr vs 7.46%/yr for EMCR. Their correlation of 0.92 suggests significant overlap in exposure. SCHE charges 0.11%/yr vs 0.15%/yr for EMCR.

Performance

SCHE vs. EMCR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Emerging Markets Equity ETF (SCHE) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHE achieves a 7.33% return, which is significantly lower than EMCR's 14.66% return.

SCHE

• 1D: -4.07%
• 1M: -4.85%
• YTD: 7.33%
• 6M: 7.81%
• 1Y: 23.65%
• 3Y*: 16.32%
• 5Y*: 4.08%
• 10Y*: 8.21%

EMCR

• 1D: -6.11%
• 1M: -3.85%
• YTD: 14.66%
• 6M: 16.19%
• 1Y: 37.41%
• 3Y*: 20.41%
• 5Y*: 7.46%
• 10Y*: —

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

SCHE vs. EMCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SCHE Schwab Emerging Markets Equity ETF	7.33%	26.54%	10.60%	8.93%	-17.84%	-0.65%	14.49%	20.31%	-2.43%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	14.66%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-1.76%

Correlation

The correlation between SCHE and EMCR is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.92

The correlation between SCHE and EMCR has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

SCHE vs. EMCR - Sectors Allocation Comparison

Sectors	SCHE	EMCR
Technology	30.8%	36.2%
Financial Services	13.6%	20.7%
Consumer Cyclical	8.9%	10.6%
Communication Services	5.2%	9.9%
Industrials	4.9%	6.7%
Basic Materials	3.9%	3.9%
Energy	3.1%	0.1%
Healthcare	2.8%	5.6%
Utilities	2.1%	1.5%
Consumer Defensive	2.0%	2.8%
Real Estate	1.0%	1.8%

Return for Risk

SCHE vs. EMCR — Risk / Return Rank

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

SCHE

SCHE Risk / Return Rank: 43
SCHE Sharpe Ratio Rank: 41
SCHE Sortino Ratio Rank: 40
SCHE Omega Ratio Rank: 43
SCHE Calmar Ratio Rank: 44
SCHE Martin Ratio Rank: 47

EMCR

EMCR Risk / Return Rank: 58
EMCR Sharpe Ratio Rank: 57
EMCR Sortino Ratio Rank: 52
EMCR Omega Ratio Rank: 61
EMCR Calmar Ratio Rank: 58
EMCR Martin Ratio Rank: 60

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.

SCHE vs. EMCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Emerging Markets Equity ETF (SCHE) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.

	SCHE	EMCR	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.83	-0.41
Sortino ratio: Return per unit of downside risk	1.99	2.39	-0.40
Omega ratio: Gain probability vs. loss probability	1.27	1.35	-0.08
Calmar ratio: Return relative to maximum drawdown	2.10	2.72	-0.61
Martin ratio: Return relative to average drawdown	7.54	10.27	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHE vs. EMCR - Sharpe Ratio Comparison

The current SCHE Sharpe Ratio is 1.42, which is comparable to the EMCR Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SCHE and EMCR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCHE	EMCR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.83	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.38	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.55	-0.31

Drawdowns

SCHE vs. EMCR - Drawdown Comparison

The maximum SCHE drawdown since its inception was -36.20%, which is greater than EMCR's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for SCHE and EMCR.

Drawdown Indicators

	SCHE	EMCR	Difference
Max Drawdown Largest peak-to-trough decline	-36.20%	-34.28%	-1.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-13.84%	+2.55%
Max Drawdown (3Y) Largest decline over 3 years	-17.08%	-18.38%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-33.37%	-34.28%	+0.91%
Max Drawdown (10Y) Largest decline over 10 years	-36.20%	—	—
Current Drawdown Current decline from peak	-5.46%	-8.19%	+2.73%
Average Drawdown Average peak-to-trough decline	-12.59%	-9.33%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	3.65%	-0.51%

Volatility

SCHE vs. EMCR - Volatility Comparison

The current volatility for Schwab Emerging Markets Equity ETF (SCHE) is 6.56%, while Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) has a volatility of 9.85%. This indicates that SCHE experiences smaller price fluctuations and is considered to be less risky than EMCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHE	EMCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	9.85%	-3.29%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	18.13%	-3.91%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	20.57%	-3.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	19.48%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.50%	19.98%	-0.48%

SCHE vs. EMCR - Expense Ratio Comparison

SCHE has a 0.11% expense ratio, which is lower than EMCR's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SCHE vs. EMCR - Dividend Comparison

SCHE's dividend yield for the trailing twelve months is around 2.68%, more than EMCR's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	2.12%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	0.00%	0.00%	0.00%
SCHE Schwab Emerging Markets Equity ETF	2.68%	2.88%	3.03%	3.83%	2.88%	2.86%	2.09%	3.27%	2.64%	2.31%	2.27%	2.50%

Frequently Asked Questions

Can I hold both SCHE and EMCR in my portfolio?

With a correlation of 0.95, SCHE and EMCR 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 is riskier, SCHE or EMCR?

EMCR has higher volatility (9.85%) compared to SCHE (6.56%). In terms of maximum drawdown, SCHE dropped -36.20% vs EMCR's -34.28%.

Which ETF is better, SCHE or EMCR?

On 5-year performance, EMCR leads with 7.46% vs 4.08% for SCHE. On fees, SCHE is cheaper at 0.11% per year. On volatility, SCHE has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHE or EMCR?

Over the 5-year period, EMCR has performed better with a 7.46% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHE or EMCR?

SCHE is cheaper with a 0.11% expense ratio, compared with 0.15% for EMCR.

Which ETF pays a higher dividend yield, SCHE or EMCR?

SCHE has the higher dividend yield at 2.68%, compared with 2.12% for EMCR.

What is the main difference between SCHE and EMCR?

SCHE tracks FTSE Emerging Index, while EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. They also come from different issuers: Charles Schwab and Deutsche Bank. Their fees differ too: 0.11% for SCHE and 0.15% for EMCR.

Which has better risk-adjusted returns?

EMCR currently has the higher Sharpe Ratio (1.83 vs 1.42), 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.