XC vs. EMXC
XC (WisdomTree Emerging Markets ex-China Fund) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both exchange-traded funds - XC is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 3 years, XC returned 10.32%/yr vs 27.65%/yr for EMXC. Their correlation of 0.90 suggests significant overlap in exposure. XC charges 0.32%/yr vs 0.49%/yr for EMXC.
Performance
XC vs. EMXC - Performance Comparison
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Returns By Period
In the year-to-date period, XC achieves a -1.97% return, which is significantly lower than EMXC's 37.89% return.
XC
- 1D
- -1.25%
- 1M
- 0.63%
- YTD
- -1.97%
- 6M
- -2.47%
- 1Y
- 7.06%
- 3Y*
- 10.32%
- 5Y*
- —
- 10Y*
- —
EMXC
- 1D
- -6.44%
- 1M
- 4.83%
- YTD
- 37.89%
- 6M
- 39.80%
- 1Y
- 67.97%
- 3Y*
- 27.65%
- 5Y*
- 12.43%
- 10Y*
- —
XC vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XC WisdomTree Emerging Markets ex-China Fund | -1.97% | 18.19% | 5.49% | 21.31% | 1.58% |
EMXC iShares MSCI Emerging Markets ex China ETF | 37.89% | 35.14% | 2.68% | 18.96% | 2.04% |
Correlation
The correlation between XC and EMXC is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.90 |
The correlation between XC and EMXC shifts across timeframes, from 0.77 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XC vs. EMXC — Risk / Return Rank
XC
EMXC
XC vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-China Fund (XC) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.
| XC | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.50 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 4.74 | -4.17 |
| Martin ratioReturn relative to average drawdown | 1.51 | 18.14 | -16.63 |
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Drawdowns
XC vs. EMXC - Drawdown Comparison
The maximum XC drawdown since its inception was -20.97%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for XC and EMXC.
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Drawdown Indicators
| XC | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.97% | -42.81% | +21.84% |
Max Drawdown (1Y)Largest decline over 1 year | -12.47% | -14.41% | +1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -20.97% | -19.12% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.91% | — |
Current DrawdownCurrent decline from peak | -7.94% | -6.44% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -4.17% | -10.15% | +5.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 3.76% | +0.93% |
Volatility
XC vs. EMXC - Volatility Comparison
The current volatility for WisdomTree Emerging Markets ex-China Fund (XC) is 5.04%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 14.74%. This indicates that XC experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XC | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 14.74% | -9.70% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 23.44% | -10.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.09% | 25.27% | -10.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 18.40% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.92% | 20.25% | -4.33% |
XC vs. EMXC - Expense Ratio Comparison
XC has a 0.32% expense ratio, which is lower than EMXC's 0.49% expense ratio.
Dividends
XC vs. EMXC - Dividend Comparison
XC's dividend yield for the trailing twelve months is around 12.22%, more than EMXC's 1.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 1.93% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% |
XC WisdomTree Emerging Markets ex-China Fund | 12.22% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XC and EMXC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (14.74%) compared to XC (5.04%). In terms of maximum drawdown, XC dropped -20.97% vs EMXC's -42.81%.
On 3-year performance, EMXC leads with 27.65% vs 10.32% for XC. On fees, XC is cheaper at 0.32% per year. On volatility, XC has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMXC has performed better with a 27.65% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XC is cheaper with a 0.32% expense ratio, compared with 0.49% for EMXC.
XC has the higher dividend yield at 12.22%, compared with 1.93% for EMXC.
XC is categorized as Emerging Markets Diversified, while EMXC is Emerging Markets Equities. XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while EMXC tracks MSCI Emerging Markets ex China Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.32% for XC and 0.49% for EMXC.
EMXC currently has the higher Sharpe Ratio (2.70 vs 0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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