XCEM vs. ESGN

Last updated Jul 15, 2026

XCEM (Columbia EM Core ex-China ETF) and ESGN (Columbia Sustainable International Equity Income ETF) are both exchange-traded funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while ESGN is a Foreign Large Cap Equities fund tracking the MSCI Beta ADV Sust Intl Equity Income 100. Both are passively managed. Over the past 10 years, XCEM returned 11.28%/yr vs 9.74%/yr for ESGN. A 0.59 correlation means they provide meaningful diversification when combined. XCEM charges 0.16%/yr vs 0.45%/yr for ESGN.

Performance

XCEM vs. ESGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia EM Core ex-China ETF (XCEM) and Columbia Sustainable International Equity Income ETF (ESGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCEM achieves a 29.80% return, which is significantly higher than ESGN's 8.13% return. Over the past 10 years, XCEM has outperformed ESGN with an annualized return of 11.28%, while ESGN has yielded a comparatively lower 9.74% annualized return.

XCEM

• 1D: 1.49%
• 1M: -3.73%
• 6M: 24.35%
• YTD: 29.80%
• 1Y: 50.50%
• 3Y*: 22.27%
• 5Y*: 10.85%
• 10Y*: 11.28%

ESGN

• 1D: 0.89%
• 1M: 0.69%
• 6M: 7.09%
• YTD: 8.13%
• 1Y: 23.74%
• 3Y*: 18.73%
• 5Y*: 12.52%
• 10Y*: 9.74%

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

XCEM vs. ESGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XCEM Columbia EM Core ex-China ETF	29.80%	34.05%	0.42%	19.96%	-17.59%	7.87%	9.47%	19.74%	-11.75%	34.78%
ESGN Columbia Sustainable International Equity Income ETF	8.13%	39.85%	6.02%	20.88%	-5.95%	10.18%	-0.52%	15.83%	-18.30%	24.88%

Correlation

The correlation between XCEM and ESGN is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jun 13, 2016	0.59

The correlation between XCEM and ESGN shifts across timeframes, from 0.58 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

XCEM vs. ESGN - Sectors Allocation Comparison

Sectors	XCEM	ESGN
Technology	49.5%	7.0%
Financial Services	17.6%	15.4%
Industrials	9.3%	15.8%
Basic Materials	5.3%	1.9%
Consumer Cyclical	4.8%	6.6%
Energy	3.0%	13.0%
Communication Services	3.0%	1.2%
Consumer Defensive	2.4%	3.5%
Healthcare	2.3%	3.9%
Utilities	1.7%	9.3%
Real Estate	1.3%	0.2%

Return for Risk

XCEM vs. ESGN — Risk / Return Rank

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

XCEM

XCEM Risk / Return Rank: 79
XCEM Sharpe Ratio Rank: 80
XCEM Sortino Ratio Rank: 71
XCEM Omega Ratio Rank: 81
XCEM Calmar Ratio Rank: 83
XCEM Martin Ratio Rank: 81

ESGN

ESGN Risk / Return Rank: 64
ESGN Sharpe Ratio Rank: 67
ESGN Sortino Ratio Rank: 67
ESGN Omega Ratio Rank: 67
ESGN Calmar Ratio Rank: 62
ESGN Martin Ratio Rank: 58

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. ESGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) and Columbia Sustainable International Equity Income ETF (ESGN). 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.

	XCEM	ESGN	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.74	+0.27
Sortino ratio: Return per unit of downside risk	2.54	2.45	+0.09
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.51	2.50	+1.01
Martin ratio: Return relative to average drawdown	12.28	8.03	+4.25

XCEM vs. ESGN - Sharpe Ratio Comparison

The current XCEM Sharpe Ratio is 2.01, which is comparable to the ESGN Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of XCEM and ESGN, 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

XCEM vs. ESGN - Drawdown Comparison

The maximum XCEM drawdown since its inception was -41.24%, roughly equal to the maximum ESGN drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for XCEM and ESGN.

Drawdown Indicators

	XCEM	ESGN	Difference
Max Drawdown Largest peak-to-trough decline	-41.24%	-41.71%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-9.56%	-4.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-14.38%	-4.54%
Max Drawdown (5Y) Largest decline over 5 years	-29.57%	-24.51%	-5.06%
Max Drawdown (10Y) Largest decline over 10 years	-41.24%	-41.71%	+0.47%
Current Drawdown Current decline from peak	-9.41%	-2.78%	-6.63%
Average Drawdown Average peak-to-trough decline	-8.56%	-7.03%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	2.97%	+1.15%

Volatility

XCEM vs. ESGN - Volatility Comparison

Columbia EM Core ex-China ETF (XCEM) has a higher volatility of 11.62% compared to Columbia Sustainable International Equity Income ETF (ESGN) at 3.40%. This indicates that XCEM's price experiences larger fluctuations and is considered to be riskier than ESGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCEM	ESGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.62%	3.40%	+8.22%
Volatility (6M) Calculated over the trailing 6-month period	23.61%	11.38%	+12.23%
Volatility (1Y) Calculated over the trailing 1-year period	25.20%	13.71%	+11.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	15.32%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	16.36%	+3.60%

XCEM vs. ESGN - Expense Ratio Comparison

XCEM has a 0.16% expense ratio, which is lower than ESGN's 0.45% expense ratio.

Dividends

XCEM vs. ESGN - Dividend Comparison

XCEM's dividend yield for the trailing twelve months is around 2.51%, less than ESGN's 9.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESGN Columbia Sustainable International Equity Income ETF	9.66%	9.76%	3.11%	3.27%	3.57%	3.43%	2.64%	3.34%	7.25%	4.63%	2.52%	0.00%
XCEM Columbia EM Core ex-China ETF	2.51%	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 ESGN in my portfolio?

XCEM and ESGN have a correlation of 0.58, 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 ESGN?

XCEM has higher volatility (11.62%) compared to ESGN (3.40%). In terms of maximum drawdown, XCEM dropped -41.24% vs ESGN's -41.71%.

Which ETF is better, XCEM or ESGN?

On 10-year performance, XCEM leads with 11.28% vs 9.74% for ESGN. On fees, XCEM is cheaper at 0.16% per year. On volatility, ESGN has been the lower-risk option at 3.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCEM or ESGN?

Over the 10-year period, XCEM has performed better with a 11.28% return vs 9.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCEM or ESGN?

XCEM is cheaper with a 0.16% expense ratio, compared with 0.45% for ESGN.

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

ESGN has the higher dividend yield at 9.66%, compared with 2.51% for XCEM.

What is the main difference between XCEM and ESGN?

XCEM is categorized as Emerging Markets Equities, while ESGN is Foreign Large Cap Equities. XCEM tracks MSCI Emerging Markets ex China Index, while ESGN tracks MSCI Beta ADV Sust Intl Equity Income 100. Their fees differ too: 0.16% for XCEM and 0.45% for ESGN.

Which has better risk-adjusted returns?

XCEM currently has the higher Sharpe Ratio (2.01 vs 1.74), 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.