VEXC vs. EMGF
VEXC (Vanguard Emerging Markets Ex-China ETF) and EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) are both Emerging Markets Equities funds - VEXC tracks the FTSE Emerging ex China Index while EMGF tracks the MSCI Emerging Markets Diversified Multiple-Factor Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. VEXC charges 0.07%/yr vs 0.45%/yr for EMGF.
Performance
VEXC vs. EMGF - Performance Comparison
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Returns By Period
In the year-to-date period, VEXC achieves a 17.93% return, which is significantly lower than EMGF's 19.60% return.
VEXC
- 1D
- -1.42%
- 1M
- -2.43%
- 6M
- 13.21%
- YTD
- 17.93%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMGF
- 1D
- -2.03%
- 1M
- -7.11%
- 6M
- 12.63%
- YTD
- 19.60%
- 1Y
- 32.59%
- 3Y*
- 21.46%
- 5Y*
- 9.19%
- 10Y*
- 9.87%
VEXC vs. EMGF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VEXC Vanguard Emerging Markets Ex-China ETF | 17.93% | 4.50% |
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF | 19.60% | 2.94% |
Correlation
The correlation between VEXC and EMGF is 0.91, 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 | 0.91 |
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Return for Risk
VEXC vs. EMGF — Risk / Return Rank
VEXC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EMGF
VEXC vs. EMGF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Ex-China ETF (VEXC) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). 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 | EMGF | 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 | — | 2.42 | — |
| Martin ratioReturn relative to average drawdown | — | 8.04 | — |
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Drawdowns
VEXC vs. EMGF - Drawdown Comparison
The maximum VEXC drawdown since its inception was -12.42%, smaller than the maximum EMGF drawdown of -40.23%. Use the drawdown chart below to compare losses from any high point for VEXC and EMGF.
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Drawdown Indicators
| VEXC | EMGF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.42% | -40.23% | +27.81% |
Max Drawdown (1Y)Largest decline over 1 year | — | -13.54% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.23% | — |
Current DrawdownCurrent decline from peak | -5.52% | -10.06% | +4.54% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -10.00% | +7.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.07% | — |
Volatility
VEXC vs. EMGF - Volatility Comparison
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Volatility by Period
| VEXC | EMGF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.60% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.12% | 23.52% | -3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.12% | 18.55% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.12% | 19.72% | +0.40% |
VEXC vs. EMGF - Expense Ratio Comparison
VEXC has a 0.07% expense ratio, which is lower than EMGF's 0.45% expense ratio.
Dividends
VEXC vs. EMGF - Dividend Comparison
VEXC's dividend yield for the trailing twelve months is around 1.46%, less than EMGF's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF | 2.10% | 2.52% | 3.42% | 5.94% | 4.04% | 2.48% | 1.95% | 2.63% | 2.73% | 1.94% | 2.04% |
VEXC Vanguard Emerging Markets Ex-China ETF | 1.46% | 0.43% | 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 0.91, VEXC and EMGF 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.
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.
VEXC is cheaper with a 0.07% expense ratio, compared with 0.45% for EMGF.
EMGF has the higher dividend yield at 2.10%, compared with 1.46% for VEXC.
VEXC tracks FTSE Emerging ex China Index, while EMGF tracks MSCI Emerging Markets Diversified Multiple-Factor Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VEXC and 0.45% for EMGF.
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