XBAK.DE vs. EMXC.DE
XBAK.DE (Xtrackers MSCI Pakistan Swap UCITS ETF (Acc)) and EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both Emerging Markets Equities funds - XBAK.DE tracks the MSCI Pakistan Investable Market Index while EMXC.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, XBAK.DE returned 10.75%/yr vs 13.80%/yr for EMXC.DE. At a 0.22 correlation, their price movements are largely independent. XBAK.DE charges 0.85%/yr vs 0.15%/yr for EMXC.DE.
Performance
XBAK.DE vs. EMXC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBAK.DE achieves a 5.19% return, which is significantly lower than EMXC.DE's 43.03% return.
XBAK.DE
- 1D
- 0.62%
- 1M
- 10.20%
- 6M
- 2.53%
- YTD
- 5.19%
- 1Y
- 35.00%
- 3Y*
- 41.08%
- 5Y*
- 10.75%
- 10Y*
- -1.05%
EMXC.DE
- 1D
- 2.86%
- 1M
- 0.14%
- 6M
- 39.96%
- YTD
- 43.03%
- 1Y
- 64.73%
- 3Y*
- 25.39%
- 5Y*
- 13.80%
- 10Y*
- —
XBAK.DE vs. EMXC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XBAK.DE Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) | 5.19% | 20.31% | 75.92% | 15.36% | -24.63% | -7.97% | -15.81% | 19.27% |
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 43.03% | 19.92% | 9.13% | 14.31% | -13.59% | 17.56% | 2.25% | -4.50% |
Correlation
The correlation between XBAK.DE and EMXC.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2019 | 0.22 |
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Return for Risk
XBAK.DE vs. EMXC.DE — Risk / Return Rank
XBAK.DE
EMXC.DE
XBAK.DE vs. EMXC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE). 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.
| XBAK.DE | EMXC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.51 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 5.42 | -3.95 |
| Martin ratioReturn relative to average drawdown | 3.81 | 18.82 | -15.02 |
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Drawdowns
XBAK.DE vs. EMXC.DE - Drawdown Comparison
The maximum XBAK.DE drawdown since its inception was -79.30%, which is greater than EMXC.DE's maximum drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for XBAK.DE and EMXC.DE.
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Drawdown Indicators
| XBAK.DE | EMXC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -40.89% | -38.41% |
Max Drawdown (1Y)Largest decline over 1 year | -23.67% | -11.87% | -11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -23.67% | -20.47% | -3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -49.06% | -20.47% | -28.59% |
Max Drawdown (10Y)Largest decline over 10 years | -79.30% | — | — |
Current DrawdownCurrent decline from peak | -32.50% | -5.27% | -27.23% |
Average DrawdownAverage peak-to-trough decline | -37.83% | -7.72% | -30.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.17% | 3.43% | +5.74% |
Volatility
XBAK.DE vs. EMXC.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) is 5.51%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a volatility of 10.93%. This indicates that XBAK.DE experiences smaller price fluctuations and is considered to be less risky than EMXC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAK.DE | EMXC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 10.93% | -5.42% |
Volatility (6M)Calculated over the trailing 6-month period | 24.19% | 19.82% | +4.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 22.15% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 16.49% | +8.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 19.10% | +5.45% |
XBAK.DE vs. EMXC.DE - Expense Ratio Comparison
XBAK.DE has a 0.85% expense ratio, which is higher than EMXC.DE's 0.15% expense ratio.
Dividends
XBAK.DE vs. EMXC.DE - Dividend Comparison
Neither XBAK.DE nor EMXC.DE has paid dividends to shareholders.
Frequently Asked Questions
XBAK.DE and EMXC.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMXC.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMXC.DE is cheaper with a 0.15% expense ratio, compared with 0.85% for XBAK.DE.
XBAK.DE tracks MSCI Pakistan Investable Market Index, while EMXC.DE tracks MSCI EM NR USD. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.85% for XBAK.DE and 0.15% for EMXC.DE.
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