VEXC vs. EMXF

Last updated Jun 4, 2026

VEXC (Vanguard Emerging Markets Ex-China ETF) and EMXF (iShares ESG Advanced MSCI EM ETF) are both Emerging Markets Equities funds - VEXC tracks the FTSE Emerging ex China Index while EMXF tracks the MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. VEXC charges 0.07%/yr vs 0.16%/yr for EMXF.

Performance

VEXC vs. EMXF - Performance Comparison

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

Returns By Period

In the year-to-date period, VEXC achieves a 20.21% return, which is significantly lower than EMXF's 24.76% return.

VEXC

• 1D: -1.20%
• 1M: 4.95%
• YTD: 20.21%
• 6M: 23.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMXF

• 1D: -1.30%
• 1M: 8.70%
• YTD: 24.76%
• 6M: 27.57%
• 1Y: 47.21%
• 3Y*: 21.67%
• 5Y*: 7.15%
• 10Y*: —

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

VEXC vs. EMXF - Yearly Performance Comparison

	2026 (YTD)	2025
VEXC Vanguard Emerging Markets Ex-China ETF	20.21%	4.80%
EMXF iShares ESG Advanced MSCI EM ETF	24.76%	4.40%

Correlation

The correlation between VEXC and EMXF 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 3, 2025	0.91

Return for Risk

VEXC vs. EMXF — Risk / Return Rank

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

EMXF

EMXF Risk / Return Rank: 77
EMXF Sharpe Ratio Rank: 78
EMXF Sortino Ratio Rank: 76
EMXF Omega Ratio Rank: 78
EMXF Calmar Ratio Rank: 75
EMXF Martin Ratio Rank: 76

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. EMXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Ex-China ETF (VEXC) and iShares ESG Advanced MSCI EM ETF (EMXF). 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.

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

Sharpe Ratios by Period

	VEXC	EMXF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.55	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	0.51	+1.70

Drawdowns

VEXC vs. EMXF - Drawdown Comparison

The maximum VEXC drawdown since its inception was -12.42%, smaller than the maximum EMXF drawdown of -33.13%. Use the drawdown chart below to compare losses from any high point for VEXC and EMXF.

Drawdown Indicators

	VEXC	EMXF	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-33.13%	+20.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.89%	—
Current Drawdown Current decline from peak	-1.20%	-1.30%	+0.10%
Average Drawdown Average peak-to-trough decline	-2.23%	-12.02%	+9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.25%	—

Volatility

Volatility by Period

	VEXC	EMXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.89%	18.60%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	22.15%	-3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	21.77%	-2.88%

VEXC vs. EMXF - Expense Ratio Comparison

VEXC has a 0.07% expense ratio, which is lower than EMXF's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEXC vs. EMXF - Dividend Comparison

VEXC's dividend yield for the trailing twelve months is around 0.74%, less than EMXF's 2.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
EMXF iShares ESG Advanced MSCI EM ETF	2.75%	3.43%	2.92%	2.25%	2.42%	1.87%	0.41%
VEXC Vanguard Emerging Markets Ex-China ETF	0.74%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEXC and EMXF in my portfolio?

With a correlation of 0.91, VEXC and EMXF 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.

Which ETF is better, VEXC or EMXF?

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, VEXC or EMXF?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.16% for EMXF.

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

EMXF has the higher dividend yield at 2.75%, compared with 0.74% for VEXC.

What is the main difference between VEXC and EMXF?

VEXC tracks FTSE Emerging ex China Index, while EMXF tracks MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VEXC and 0.16% for EMXF.