UAE vs. VEXC

Last updated Jun 26, 2026

UAE (iShares MSCI UAE ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - UAE tracks the MSCI All UAE Capped Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. A 0.51 correlation means they provide meaningful diversification when combined. UAE charges 0.59%/yr vs 0.07%/yr for VEXC.

Performance

UAE vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI UAE ETF (UAE) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAE achieves a 3.39% return, which is significantly lower than VEXC's 19.61% return.

UAE

• 1D: -3.63%
• 1M: 4.26%
• YTD: 3.39%
• 6M: 1.27%
• 1Y: 9.56%
• 3Y*: 13.97%
• 5Y*: 10.19%
• 10Y*: 5.88%

VEXC

• 1D: -0.14%
• 1M: 0.34%
• YTD: 19.61%
• 6M: 20.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UAE vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
UAE iShares MSCI UAE ETF	3.39%	1.67%
VEXC Vanguard Emerging Markets Ex-China ETF	19.61%	4.50%

Correlation

The correlation between UAE and VEXC is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.51

Return for Risk

UAE vs. VEXC — Risk / Return Rank

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

UAE

UAE Risk / Return Rank: 15
UAE Sharpe Ratio Rank: 15
UAE Sortino Ratio Rank: 15
UAE Omega Ratio Rank: 16
UAE Calmar Ratio Rank: 14
UAE Martin Ratio Rank: 14

VEXC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

UAE vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UAE ETF (UAE) 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.

	UAE	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	0.42	—	—
Sortino ratio: Return per unit of downside risk	0.76	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.45	—	—
Martin ratio: Return relative to average drawdown	1.08	—	—

Drawdowns

UAE vs. VEXC - Drawdown Comparison

The maximum UAE drawdown since its inception was -60.49%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for UAE and VEXC.

Drawdown Indicators

	UAE	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-60.49%	-12.42%	-48.07%
Max Drawdown (1Y) Largest decline over 1 year	-21.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.71%	—	—
Current Drawdown Current decline from peak	-11.07%	-4.18%	-6.89%
Average Drawdown Average peak-to-trough decline	-23.84%	-2.25%	-21.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.85%	—	—

Volatility

Volatility by Period

	UAE	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.86%	20.19%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	20.19%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	20.19%	-0.56%

UAE vs. VEXC - Expense Ratio Comparison

UAE has a 0.59% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

UAE vs. VEXC - Dividend Comparison

UAE's dividend yield for the trailing twelve months is around 4.46%, more than VEXC's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UAE iShares MSCI UAE ETF	4.46%	4.10%	3.32%	3.25%	2.67%	4.88%	4.75%	3.54%	5.56%	3.38%	4.74%	3.77%
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

Can I hold both UAE and VEXC in my portfolio?

UAE and VEXC have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UAE or VEXC?

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.

Which ETF is cheaper, UAE or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.59% for UAE.

Which ETF pays a higher dividend yield, UAE or VEXC?

UAE has the higher dividend yield at 4.46%, compared with 1.44% for VEXC.

What is the main difference between UAE and VEXC?

UAE tracks MSCI All UAE Capped Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.59% for UAE and 0.07% for VEXC.