VEXC vs. SPEM
VEXC (Vanguard Emerging Markets Ex-China ETF) and SPEM (SPDR Portfolio Emerging Markets ETF) are both Emerging Markets Equities funds - VEXC tracks the FTSE Emerging ex China Index while SPEM tracks the S&P Emerging BMI Index. Both are passively managed. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
VEXC vs. SPEM - Performance Comparison
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Returns By Period
In the year-to-date period, VEXC achieves a 20.67% return, which is significantly higher than SPEM's 11.15% return.
VEXC
- 1D
- -3.33%
- 1M
- 3.67%
- YTD
- 20.67%
- 6M
- 21.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPEM
- 1D
- -3.05%
- 1M
- 1.24%
- YTD
- 11.15%
- 6M
- 11.38%
- 1Y
- 28.20%
- 3Y*
- 18.16%
- 5Y*
- 5.70%
- 10Y*
- 9.62%
VEXC vs. SPEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VEXC Vanguard Emerging Markets Ex-China ETF | 20.67% | 4.50% |
SPEM SPDR Portfolio Emerging Markets ETF | 11.15% | 1.04% |
Correlation
The correlation between VEXC and SPEM is 0.95, 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 | 0.95 |
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Return for Risk
VEXC vs. SPEM — Risk / Return Rank
VEXC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPEM
VEXC vs. SPEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Ex-China ETF (VEXC) and SPDR Portfolio Emerging Markets ETF (SPEM). 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 | SPEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.49 | — |
| Martin ratioReturn relative to average drawdown | — | 8.92 | — |
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Drawdowns
VEXC vs. SPEM - Drawdown Comparison
The maximum VEXC drawdown since its inception was -12.42%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for VEXC and SPEM.
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Drawdown Indicators
| VEXC | SPEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.42% | -64.41% | +51.99% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.36% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.62% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.06% | — |
Current DrawdownCurrent decline from peak | -3.33% | -3.05% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -14.72% | +12.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.17% | — |
Volatility
VEXC vs. SPEM - Volatility Comparison
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Volatility by Period
| VEXC | SPEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.51% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.76% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.27% | 17.03% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.27% | 17.35% | +2.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.27% | 18.80% | +1.47% |
VEXC vs. SPEM - Expense Ratio Comparison
Both VEXC and SPEM 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. SPEM - Dividend Comparison
VEXC's dividend yield for the trailing twelve months is around 1.43%, less than SPEM's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPEM SPDR Portfolio Emerging Markets ETF | 2.52% | 2.77% | 2.78% | 2.80% | 3.38% | 3.14% | 1.92% | 2.94% | 2.34% | 1.12% | 1.51% | 2.40% |
VEXC Vanguard Emerging Markets Ex-China ETF | 1.43% | 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
With a correlation of 0.95, VEXC and SPEM 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.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VEXC and SPEM have the same expense ratio: 0.07% per year.
SPEM has the higher dividend yield at 2.52%, compared with 1.43% for VEXC.
VEXC tracks FTSE Emerging ex China Index, while SPEM tracks S&P Emerging BMI Index. They also come from different issuers: Vanguard and State Street.
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