XCEM vs. EEMO

Last updated Jun 4, 2026

XCEM (Columbia EM Core ex-China ETF) and EEMO (Invesco S&P Emerging Markets Momentum ETF) are both exchange-traded funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index. Both are passively managed. Over the past 10 years, XCEM returned 12.99%/yr vs 8.88%/yr for EEMO. A 0.70 correlation means they provide meaningful diversification when combined. XCEM charges 0.16%/yr vs 0.31%/yr for EEMO.

Performance

XCEM vs. EEMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia EM Core ex-China ETF (XCEM) and Invesco S&P Emerging Markets Momentum ETF (EEMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCEM achieves a 38.32% return, which is significantly lower than EEMO's 40.25% return. Over the past 10 years, XCEM has outperformed EEMO with an annualized return of 12.99%, while EEMO has yielded a comparatively lower 8.88% annualized return.

XCEM

• 1D: -1.25%
• 1M: 12.13%
• YTD: 38.32%
• 6M: 44.13%
• 1Y: 71.14%
• 3Y*: 26.37%
• 5Y*: 11.95%
• 10Y*: 12.99%

EEMO

• 1D: -1.32%
• 1M: 18.59%
• YTD: 40.25%
• 6M: 41.33%
• 1Y: 57.41%
• 3Y*: 25.30%
• 5Y*: 7.19%
• 10Y*: 8.88%

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

XCEM vs. EEMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XCEM Columbia EM Core ex-China ETF	38.32%	34.05%	0.42%	19.96%	-17.59%	7.87%	9.47%	19.74%	-11.75%	34.78%
EEMO Invesco S&P Emerging Markets Momentum ETF	40.25%	10.99%	9.88%	13.90%	-18.73%	-5.57%	9.66%	21.17%	-17.24%	49.65%

Correlation

The correlation between XCEM and EEMO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 3, 2015	0.70

The correlation between XCEM and EEMO shifts across timeframes, from 0.70 (all time) to 0.82 (3 years), reflecting how their relationship changes across market environments.

XCEM vs. EEMO - Sectors Allocation Comparison

Sectors	XCEM	EEMO
Financial Services	7.7%	18.0%
Communication Services	4.2%	1.5%
Utilities	1.9%	2.0%
Technology	1.1%	43.8%
Consumer Cyclical	1.1%	3.2%
Basic Materials	0.7%	12.9%
Industrials	0.4%	11.5%
Consumer Defensive	0.3%	1.2%
Energy	0.2%	2.5%
Healthcare	0.1%	3.0%
Real Estate	0.0%	0.5%

Return for Risk

XCEM vs. EEMO — Risk / Return Rank

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

XCEM

XCEM Risk / Return Rank: 90
XCEM Sharpe Ratio Rank: 92
XCEM Sortino Ratio Rank: 90
XCEM Omega Ratio Rank: 91
XCEM Calmar Ratio Rank: 87
XCEM Martin Ratio Rank: 89

EEMO

EEMO Risk / Return Rank: 75
EEMO Sharpe Ratio Rank: 71
EEMO Sortino Ratio Rank: 72
EEMO Omega Ratio Rank: 77
EEMO Calmar Ratio Rank: 77
EEMO Martin Ratio Rank: 79

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.

XCEM vs. EEMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) and Invesco S&P Emerging Markets Momentum ETF (EEMO). 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.

	XCEM	EEMO	Difference
Sharpe ratio: Return per unit of total volatility	3.42	2.36	+1.06
Sortino ratio: Return per unit of downside risk	4.27	3.28	+0.99
Omega ratio: Gain probability vs. loss probability	1.61	1.46	+0.14
Calmar ratio: Return relative to maximum drawdown	4.95	3.91	+1.03
Martin ratio: Return relative to average drawdown	19.98	15.67	+4.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCEM vs. EEMO - Sharpe Ratio Comparison

The current XCEM Sharpe Ratio is 3.42, which is higher than the EEMO Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of XCEM and EEMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XCEM	EEMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.42	2.36	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.37	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.41	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.13	+0.50

Drawdowns

XCEM vs. EEMO - Drawdown Comparison

The maximum XCEM drawdown since its inception was -41.24%, smaller than the maximum EEMO drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for XCEM and EEMO.

Drawdown Indicators

	XCEM	EEMO	Difference
Max Drawdown Largest peak-to-trough decline	-41.24%	-48.47%	+7.23%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-14.75%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-26.06%	+7.14%
Max Drawdown (5Y) Largest decline over 5 years	-29.67%	-34.03%	+4.36%
Max Drawdown (10Y) Largest decline over 10 years	-41.24%	-46.57%	+5.33%
Current Drawdown Current decline from peak	-1.25%	-1.32%	+0.07%
Average Drawdown Average peak-to-trough decline	-8.59%	-20.17%	+11.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.67%	-0.10%

Volatility

XCEM vs. EEMO - Volatility Comparison

The current volatility for Columbia EM Core ex-China ETF (XCEM) is 9.43%, while Invesco S&P Emerging Markets Momentum ETF (EEMO) has a volatility of 14.32%. This indicates that XCEM experiences smaller price fluctuations and is considered to be less risky than EEMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCEM	EEMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	14.32%	-4.89%
Volatility (6M) Calculated over the trailing 6-month period	18.72%	22.10%	-3.38%
Volatility (1Y) Calculated over the trailing 1-year period	20.89%	24.45%	-3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	19.33%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	21.59%	-1.87%

XCEM vs. EEMO - Expense Ratio Comparison

XCEM has a 0.16% expense ratio, which is lower than EEMO's 0.31% expense ratio.

Dividends

XCEM vs. EEMO - Dividend Comparison

XCEM's dividend yield for the trailing twelve months is around 2.35%, more than EEMO's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMO Invesco S&P Emerging Markets Momentum ETF	1.64%	2.31%	2.57%	3.65%	3.82%	1.51%	1.53%	2.13%	13.10%	5.13%	1.55%	2.92%
XCEM Columbia EM Core ex-China ETF	2.35%	3.25%	2.76%	1.22%	2.42%	1.94%	1.63%	2.11%	2.70%	9.56%	1.24%	2.63%

Frequently Asked Questions

Can I hold both XCEM and EEMO in my portfolio?

XCEM and EEMO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XCEM or EEMO?

EEMO has higher volatility (14.32%) compared to XCEM (9.43%). In terms of maximum drawdown, XCEM dropped -41.24% vs EEMO's -48.47%.

Which ETF is better, XCEM or EEMO?

On 10-year performance, XCEM leads with 12.99% vs 8.88% for EEMO. On fees, XCEM is cheaper at 0.16% per year. On volatility, XCEM has been the lower-risk option at 9.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCEM or EEMO?

Over the 10-year period, XCEM has performed better with a 12.99% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCEM or EEMO?

XCEM is cheaper with a 0.16% expense ratio, compared with 0.31% for EEMO.

Which ETF pays a higher dividend yield, XCEM or EEMO?

XCEM has the higher dividend yield at 2.35%, compared with 1.64% for EEMO.

What is the main difference between XCEM and EEMO?

XCEM is categorized as Emerging Markets Equities, while EEMO is Momentum. XCEM tracks MSCI Emerging Markets ex China Index, while EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index. They also come from different issuers: Ameriprise Financial and Invesco. Their fees differ too: 0.16% for XCEM and 0.31% for EEMO.

Which has better risk-adjusted returns?

XCEM currently has the higher Sharpe Ratio (3.42 vs 2.36), 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.