VEXC vs. CLIP

Last updated Jul 17, 2026

VEXC (Vanguard Emerging Markets Ex-China ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - VEXC is a Emerging Markets Equities fund tracking the FTSE Emerging ex China Index, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. At a correlation of -0.16, they often move in opposite directions. Both charge a 0.07% expense ratio.

Performance

VEXC vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Ex-China ETF (VEXC) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEXC achieves a 17.93% return, which is significantly higher than CLIP's 1.94% return.

VEXC

• 1D: -1.42%
• 1M: -2.43%
• 6M: 13.21%
• YTD: 17.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.82%
• YTD: 1.94%
• 1Y: 3.90%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

VEXC vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025
VEXC Vanguard Emerging Markets Ex-China ETF	17.93%	4.50%
CLIP Global X 1-3 Month T-Bill ETF	1.94%	0.99%

Correlation

The correlation between VEXC and CLIP is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	-0.16

Return for Risk

VEXC vs. CLIP — Risk / Return Rank

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

VEXC

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

VEXC vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Ex-China ETF (VEXC) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	VEXC	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	—	17.89	—
Sortino ratio: Return per unit of downside risk	—	95.22	—
Omega ratio: Gain probability vs. loss probability	—	29.37	—
Calmar ratio: Return relative to maximum drawdown	—	196.07	—
Martin ratio: Return relative to average drawdown	—	1,495.40	—

Drawdowns

VEXC vs. CLIP - Drawdown Comparison

The maximum VEXC drawdown since its inception was -12.42%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for VEXC and CLIP.

Drawdown Indicators

	VEXC	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-0.08%	-12.34%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.08%	—
Current Drawdown Current decline from peak	-5.52%	0.00%	-5.52%
Average Drawdown Average peak-to-trough decline	-2.37%	-0.00%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	VEXC	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.12%	0.22%	+19.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.12%	0.44%	+19.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.12%	0.44%	+19.68%

VEXC vs. CLIP - Expense Ratio Comparison

Both VEXC and CLIP 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

VEXC vs. CLIP - Dividend Comparison

VEXC's dividend yield for the trailing twelve months is around 1.46%, less than CLIP's 3.85% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.85%	4.14%	5.11%	2.75%
VEXC Vanguard Emerging Markets Ex-China ETF	1.46%	0.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEXC and CLIP in my portfolio?

VEXC and CLIP have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEXC or CLIP?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEXC or CLIP?

VEXC and CLIP have the same expense ratio: 0.07% per year.

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

CLIP has the higher dividend yield at 3.85%, compared with 1.46% for VEXC.

What is the main difference between VEXC and CLIP?

VEXC is categorized as Emerging Markets Equities, while CLIP is Ultrashort Bond. VEXC tracks FTSE Emerging ex China Index, while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: Vanguard and Global X.