TEMX vs. HEEM
TEMX (Touchstone Sands Capital Emerging Markets ex-China Growth ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Equities funds. TEMX is actively managed, while HEEM is passively managed. Over the past year, TEMX returned 34.19% vs 40.79% for HEEM. Their correlation of 0.84 means they have usually moved in the same direction. TEMX charges 0.79%/yr vs 0.72%/yr for HEEM.
Performance
TEMX vs. HEEM - Performance Comparison
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Returns By Period
In the year-to-date period, TEMX achieves a 19.87% return, which is significantly higher than HEEM's 18.81% return.
TEMX
- 1D
- 0.66%
- 1M
- -5.54%
- 6M
- 12.01%
- YTD
- 19.87%
- 1Y
- 34.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 29.92%
HEEM
- 1D
- 0.49%
- 1M
- -3.55%
- 6M
- 9.48%
- YTD
- 18.81%
- 1Y
- 40.79%
- 3Y*
- 21.67%
- 5Y*
- 9.44%
- 10Y*
- 9.74%
- ALL TIME*
- 7.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.82M | $12.11M | $6.28M | |
| $2.56K | $10.48K | $16.04K |
TEMX vs. HEEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEMX Touchstone Sands Capital Emerging Markets ex-China Growth ETF | 19.87% | 21.36% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 18.81% | 27.54% |
Correlation
The correlation between TEMX and HEEM is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025 | 0.84 |
The correlation between TEMX and HEEM has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
TEMX vs. HEEM — Risk / Return Rank
TEMX
HEEM
TEMX vs. HEEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Sands Capital Emerging Markets ex-China Growth ETF (TEMX) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). 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.
| TEMX | HEEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.73 | -0.68 |
| Martin ratioReturn relative to average drawdown | 6.88 | 9.84 | -2.97 |
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Drawdowns
TEMX vs. HEEM - Drawdown Comparison
The maximum TEMX drawdown since its inception was -16.77%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for TEMX and HEEM.
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Drawdown Indicators
| TEMX | HEEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.77% | -33.53% | +16.76% |
Max Drawdown (1Y)Largest decline over 1 year | -16.77% | -15.01% | -1.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -11.28% | -10.84% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -11.08% | +8.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 4.16% | +0.83% |
Volatility
TEMX vs. HEEM - Volatility Comparison
Touchstone Sands Capital Emerging Markets ex-China Growth ETF (TEMX) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) have volatilities of 9.47% and 9.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEMX | HEEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.47% | 9.31% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 24.51% | 20.60% | +3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.65% | 22.65% | +4.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.23% | 18.03% | +7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.23% | 18.41% | +6.82% |
TEMX vs. HEEM - Expense Ratio Comparison
TEMX has a 0.79% expense ratio, which is higher than HEEM's 0.72% expense ratio.
Dividends
TEMX vs. HEEM - Dividend Comparison
TEMX's dividend yield for the trailing twelve months is around 0.91%, less than HEEM's 3.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.23% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
TEMX Touchstone Sands Capital Emerging Markets ex-China Growth ETF | 0.91% | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TEMX and HEEM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEMX has higher volatility (9.47%) compared to HEEM (9.31%). In terms of maximum drawdown, TEMX dropped -16.77% vs HEEM's -33.53%.
On 1-year performance, HEEM leads with 40.79% vs 34.19% for TEMX. On fees, HEEM is cheaper at 0.72% per year. On volatility, HEEM has been the lower-risk option at 9.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HEEM has performed better with a 40.79% return vs 34.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HEEM is cheaper with a 0.72% expense ratio, compared with 0.79% for TEMX.
HEEM has the higher dividend yield at 3.23%, compared with 0.91% for TEMX.
They also come from different issuers: Touchstone and iShares. Their fees differ too: 0.79% for TEMX and 0.72% for HEEM.
HEEM currently has the higher Sharpe Ratio (1.81 vs 1.29), 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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