XC vs. SPEM
XC (WisdomTree Emerging Markets ex-China Fund) and SPEM (SPDR Portfolio Emerging Markets ETF) are both Emerging Markets Equities funds - XC tracks the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net while SPEM tracks the S&P Emerging BMI Index. Both are passively managed. Over the past 3 years, XC returned 9.35%/yr vs 15.56%/yr for SPEM. Their correlation of 0.81 means they have usually moved in the same direction. XC charges 0.32%/yr vs 0.07%/yr for SPEM.
Performance
XC vs. SPEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XC achieves a 0.10% return, which is significantly lower than SPEM's 9.89% return.
XC
- 1D
- -0.09%
- 1M
- 1.18%
- 6M
- -3.23%
- YTD
- 0.10%
- 1Y
- 7.41%
- 3Y*
- 9.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.81%
SPEM
- 1D
- 0.77%
- 1M
- -0.37%
- 6M
- 4.56%
- YTD
- 9.89%
- 1Y
- 22.14%
- 3Y*
- 15.56%
- 5Y*
- 6.70%
- 10Y*
- 8.53%
- ALL TIME*
- 5.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $90.49M | $105.53M | $120.92M | |
| $811.45K | $489.30K | $569.06K |
XC vs. SPEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XC WisdomTree Emerging Markets ex-China Fund | 0.10% | 18.19% | 5.49% | 21.31% | 1.58% |
SPEM SPDR Portfolio Emerging Markets ETF | 9.89% | 25.63% | 11.40% | 10.51% | 2.71% |
Correlation
The correlation between XC and SPEM is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.81 |
The correlation between XC and SPEM has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
XC vs. SPEM - Sectors Allocation Comparison
Sectors
XC
SPEM
Financial Services
Consumer Cyclical
Industrials
Basic Materials
Consumer Defensive
Communication Services
Healthcare
Energy
Real Estate
Utilities
Technology
Financial Services
XC
SPEM
Consumer Cyclical
XC
SPEM
Industrials
XC
SPEM
Basic Materials
XC
SPEM
Consumer Defensive
XC
SPEM
Communication Services
XC
SPEM
Healthcare
XC
SPEM
Energy
XC
SPEM
Real Estate
XC
SPEM
Utilities
XC
SPEM
Technology
XC
SPEM
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XC vs. SPEM — Risk / Return Rank
XC
SPEM
XC vs. SPEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-China Fund (XC) 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.
| XC | SPEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.23 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 1.91 | -1.30 |
| Martin ratioReturn relative to average drawdown | 1.48 | 6.31 | -4.83 |
Loading charts...
Drawdowns
XC vs. SPEM - Drawdown Comparison
The maximum XC drawdown since its inception was -20.97%, smaller than the maximum SPEM drawdown of -64.41%. Use the drawdown chart below to compare losses from any high point for XC and SPEM.
Loading charts...
Drawdown Indicators
| XC | SPEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.97% | -64.41% | +43.44% |
Max Drawdown (1Y)Largest decline over 1 year | -12.47% | -11.36% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -20.97% | -17.62% | -3.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.06% | — |
Current DrawdownCurrent decline from peak | -6.00% | -4.14% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -14.66% | +10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 3.43% | +1.71% |
Volatility
XC vs. SPEM - Volatility Comparison
The current volatility for WisdomTree Emerging Markets ex-China Fund (XC) is 4.16%, while SPDR Portfolio Emerging Markets ETF (SPEM) has a volatility of 5.72%. This indicates that XC experiences smaller price fluctuations and is considered to be less risky than SPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XC | SPEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 5.72% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 13.39% | 15.43% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 17.70% | -2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 17.36% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 18.80% | -2.97% |
XC vs. SPEM - Expense Ratio Comparison
XC has a 0.32% expense ratio, which is higher than SPEM's 0.07% expense ratio.
Dividends
XC vs. SPEM - Dividend Comparison
XC's dividend yield for the trailing twelve months is around 12.01%, more than SPEM's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPEM SPDR Portfolio Emerging Markets ETF | 2.55% | 2.77% | 2.78% | 2.80% | 3.38% | 3.14% | 1.92% | 2.94% | 2.34% | 1.12% | 1.51% | 2.40% |
XC WisdomTree Emerging Markets ex-China Fund | 12.01% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XC and SPEM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPEM has higher volatility (5.72%) compared to XC (4.16%). In terms of maximum drawdown, XC dropped -20.97% vs SPEM's -64.41%.
On 3-year performance, SPEM leads with 15.56% vs 9.35% for XC. On fees, SPEM is cheaper at 0.07% per year. On volatility, XC has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPEM has performed better with a 15.56% return vs 9.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPEM is cheaper with a 0.07% expense ratio, compared with 0.32% for XC.
XC has the higher dividend yield at 12.01%, compared with 2.55% for SPEM.
XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while SPEM tracks S&P Emerging BMI Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.32% for XC and 0.07% for SPEM.
SPEM currently has the higher Sharpe Ratio (1.23 vs 0.51), 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.
Find the right allocation for XC and SPEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer