WXHG.AX vs. WEMG.AX

Last updated Jul 16, 2026

WXHG.AX (SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF) and WEMG.AX (SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF) are both exchange-traded funds - WXHG.AX is a Global Equities fund tracking the SPDR Index, while WEMG.AX is a Emerging Markets Equities fund tracking the SPDR Index. Both are passively managed. Over the past 10 years, WXHG.AX returned 11.88%/yr vs 8.90%/yr for WEMG.AX. At a 0.41 correlation, their price movements are largely independent.

Performance

WXHG.AX vs. WEMG.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) and SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WXHG.AX achieves a 7.43% return, which is significantly higher than WEMG.AX's 6.00% return. Over the past 10 years, WXHG.AX has outperformed WEMG.AX with an annualized return of 11.88%, while WEMG.AX has yielded a comparatively lower 8.90% annualized return.

WXHG.AX

• 1D: 0.11%
• 1M: 0.58%
• 6M: 6.31%
• YTD: 7.43%
• 1Y: 18.40%
• 3Y*: 18.25%
• 5Y*: 10.25%
• 10Y*: 11.88%

WEMG.AX

• 1D: 0.35%
• 1M: 0.27%
• 6M: 0.76%
• YTD: 6.00%
• 1Y: 15.90%
• 3Y*: 15.82%
• 5Y*: 6.49%
• 10Y*: 8.90%

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

WXHG.AX vs. WEMG.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WXHG.AX SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF	7.43%	18.99%	19.77%	23.72%	-19.94%	23.36%	10.60%	25.72%	-8.51%	20.03%
WEMG.AX SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF	6.00%	17.52%	25.30%	5.67%	-13.15%	3.67%	4.15%	20.19%	-2.72%	24.77%

Correlation

The correlation between WXHG.AX and WEMG.AX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Nov 1, 2013	0.41

The correlation between WXHG.AX and WEMG.AX shifts across timeframes, from 0.40 (3 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

WXHG.AX vs. WEMG.AX — Risk / Return Rank

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

WXHG.AX

WXHG.AX Risk / Return Rank: 52
WXHG.AX Sharpe Ratio Rank: 52
WXHG.AX Sortino Ratio Rank: 50
WXHG.AX Omega Ratio Rank: 53
WXHG.AX Calmar Ratio Rank: 48
WXHG.AX Martin Ratio Rank: 59

WEMG.AX

WEMG.AX Risk / Return Rank: 30
WEMG.AX Sharpe Ratio Rank: 31
WEMG.AX Sortino Ratio Rank: 31
WEMG.AX Omega Ratio Rank: 31
WEMG.AX Calmar Ratio Rank: 26
WEMG.AX Martin Ratio Rank: 30

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.

WXHG.AX vs. WEMG.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) and SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX). 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.

	WXHG.AX	WEMG.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.95	+0.51
Sortino ratio: Return per unit of downside risk	2.04	1.41	+0.63
Omega ratio: Gain probability vs. loss probability	1.27	1.18	+0.09
Calmar ratio: Return relative to maximum drawdown	2.00	1.06	+0.95
Martin ratio: Return relative to average drawdown	8.35	3.38	+4.97

WXHG.AX vs. WEMG.AX - Sharpe Ratio Comparison

The current WXHG.AX Sharpe Ratio is 1.46, which is higher than the WEMG.AX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of WXHG.AX and WEMG.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WXHG.AX vs. WEMG.AX - Drawdown Comparison

The maximum WXHG.AX drawdown since its inception was -36.37%, which is greater than WEMG.AX's maximum drawdown of -25.33%. Use the drawdown chart below to compare losses from any high point for WXHG.AX and WEMG.AX.

Drawdown Indicators

	WXHG.AX	WEMG.AX	Difference
Max Drawdown Largest peak-to-trough decline	-36.37%	-25.33%	-11.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-12.68%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-12.68%	-6.25%
Max Drawdown (5Y) Largest decline over 5 years	-26.29%	-22.11%	-4.18%
Max Drawdown (10Y) Largest decline over 10 years	-36.37%	-24.15%	-12.22%
Current Drawdown Current decline from peak	-0.04%	-1.06%	+1.02%
Average Drawdown Average peak-to-trough decline	-4.59%	-7.37%	+2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	4.00%	-1.72%

Volatility

WXHG.AX vs. WEMG.AX - Volatility Comparison

The current volatility for SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF (WXHG.AX) is 2.54%, while SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX) has a volatility of 6.02%. This indicates that WXHG.AX experiences smaller price fluctuations and is considered to be less risky than WEMG.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WXHG.AX	WEMG.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	6.02%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	12.25%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	14.28%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	14.32%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	14.78%	+2.08%

Dividends

WXHG.AX vs. WEMG.AX - Dividend Comparison

WXHG.AX's dividend yield for the trailing twelve months is around 7.12%, which matches WEMG.AX's 7.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WEMG.AX SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF	7.16%	3.46%	1.91%	2.64%	2.86%	2.19%	2.38%	2.36%	2.53%	1.29%	2.19%	2.02%
WXHG.AX SPDR ETFs Australia - State Street SPDR S&P World ex Australia Carbon Aware (Hedged) ETF	7.12%	6.68%	6.35%	5.69%	25.09%	2.77%	3.83%	4.25%	2.54%	2.83%	3.55%	5.33%

Frequently Asked Questions

Can I hold both WXHG.AX and WEMG.AX in my portfolio?

WXHG.AX and WEMG.AX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between WXHG.AX and WEMG.AX?

WXHG.AX is categorized as Global Equities, while WEMG.AX is Emerging Markets Equities. Both ETFs track SPDR Index.