SPEM vs. VEXC
SPEM (SPDR Portfolio Emerging Markets ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - SPEM tracks the S&P Emerging BMI Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
SPEM vs. VEXC - Performance Comparison
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Returns By Period
In the year-to-date period, SPEM achieves a 10.11% return, which is significantly lower than VEXC's 19.61% return.
SPEM
- 1D
- -0.27%
- 1M
- -1.79%
- YTD
- 10.11%
- 6M
- 10.30%
- 1Y
- 23.82%
- 3Y*
- 17.66%
- 5Y*
- 5.34%
- 10Y*
- 9.65%
VEXC
- 1D
- -0.14%
- 1M
- 0.34%
- YTD
- 19.61%
- 6M
- 20.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPEM vs. VEXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPEM SPDR Portfolio Emerging Markets ETF | 10.11% | 1.04% |
VEXC Vanguard Emerging Markets Ex-China ETF | 19.61% | 4.50% |
Correlation
The correlation between SPEM and VEXC is 0.95, 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 2, 2025 | 0.95 |
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Return for Risk
SPEM vs. VEXC — Risk / Return Rank
SPEM
VEXC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPEM vs. VEXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Emerging Markets ETF (SPEM) 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.
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.
| SPEM | VEXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | — | — |
| Martin ratioReturn relative to average drawdown | 7.49 | — | — |
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Drawdowns
SPEM vs. VEXC - Drawdown Comparison
The maximum SPEM drawdown since its inception was -64.41%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for SPEM and VEXC.
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Drawdown Indicators
| SPEM | VEXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.41% | -12.42% | -51.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.36% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | — | — |
Current DrawdownCurrent decline from peak | -3.95% | -4.18% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -14.71% | -2.25% | -12.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | — | — |
Volatility
SPEM vs. VEXC - Volatility Comparison
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Volatility by Period
| SPEM | VEXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.21% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.75% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.90% | 20.19% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 20.19% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 20.19% | -1.40% |
SPEM vs. VEXC - Expense Ratio Comparison
Both SPEM and VEXC have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPEM vs. VEXC - Dividend Comparison
SPEM's dividend yield for the trailing twelve months is around 2.55%, more than VEXC's 1.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPEM SPDR Portfolio Emerging Markets ETF | 2.55% | 2.77% | 2.78% | 2.80% | 3.38% | 3.14% | 1.92% | 2.94% | 2.34% | 1.12% | 1.51% | 2.40% |
VEXC Vanguard Emerging Markets Ex-China ETF | 1.44% | 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 0.95, SPEM 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.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPEM and VEXC have the same expense ratio: 0.07% per year.
SPEM has the higher dividend yield at 2.55%, compared with 1.44% for VEXC.
SPEM tracks S&P Emerging BMI Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: State Street and Vanguard.
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