XCEM vs. JMIEX

Last updated Jul 15, 2026

XCEM (Columbia EM Core ex-China ETF) and JMIEX (JPMorgan Emerging Markets Equity Fund) are both funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while JMIEX is a Emerging Markets Diversified fund managed by JPMorgan. Over the past 10 years, XCEM returned 11.28%/yr vs 10.58%/yr for JMIEX. A 0.77 correlation means they provide meaningful diversification when combined. XCEM charges 0.16%/yr vs 0.90%/yr for JMIEX.

Performance

XCEM vs. JMIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia EM Core ex-China ETF (XCEM) and JPMorgan Emerging Markets Equity Fund (JMIEX). 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 JMIEX's 23.75% return. Over the past 10 years, XCEM has outperformed JMIEX with an annualized return of 11.28%, while JMIEX has yielded a comparatively lower 10.58% 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%

JMIEX

• 1D: -3.96%
• 1M: -3.01%
• 6M: 17.58%
• YTD: 23.75%
• 1Y: 49.06%
• 3Y*: 20.73%
• 5Y*: 4.83%
• 10Y*: 10.58%

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

XCEM vs. JMIEX - 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%
JMIEX JPMorgan Emerging Markets Equity Fund	23.75%	40.27%	3.48%	7.32%	-25.68%	-10.29%	34.88%	32.04%	-15.91%	42.70%

Correlation

The correlation between XCEM and JMIEX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 2, 2015	0.77

The correlation between XCEM and JMIEX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

Return for Risk

XCEM vs. JMIEX — 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

JMIEX

JMIEX Risk / Return Rank: 82
JMIEX Sharpe Ratio Rank: 81
JMIEX Sortino Ratio Rank: 67
JMIEX Omega Ratio Rank: 78
JMIEX Calmar Ratio Rank: 92
JMIEX Martin Ratio Rank: 92

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. JMIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) and JPMorgan Emerging Markets Equity Fund (JMIEX). 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	JMIEX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.08	-0.06
Sortino ratio: Return per unit of downside risk	2.54	2.56	-0.01
Omega ratio: Gain probability vs. loss probability	1.38	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	3.51	3.91	-0.40
Martin ratio: Return relative to average drawdown	12.28	14.22	-1.94

XCEM vs. JMIEX - Sharpe Ratio Comparison

The current XCEM Sharpe Ratio is 2.01, which is comparable to the JMIEX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of XCEM and JMIEX, 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. JMIEX - Drawdown Comparison

The maximum XCEM drawdown since its inception was -41.24%, smaller than the maximum JMIEX drawdown of -62.02%. Use the drawdown chart below to compare losses from any high point for XCEM and JMIEX.

Drawdown Indicators

	XCEM	JMIEX	Difference
Max Drawdown Largest peak-to-trough decline	-41.24%	-62.02%	+20.78%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-12.56%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.92%	-15.06%	-3.86%
Max Drawdown (5Y) Largest decline over 5 years	-29.57%	-43.34%	+13.77%
Max Drawdown (10Y) Largest decline over 10 years	-41.24%	-49.51%	+8.27%
Current Drawdown Current decline from peak	-9.41%	-9.25%	-0.16%
Average Drawdown Average peak-to-trough decline	-8.56%	-20.12%	+11.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	3.44%	+0.68%

Volatility

XCEM vs. JMIEX - Volatility Comparison

Columbia EM Core ex-China ETF (XCEM) and JPMorgan Emerging Markets Equity Fund (JMIEX) have volatilities of 11.62% and 11.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCEM	JMIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.62%	11.97%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	23.61%	21.23%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.20%	23.67%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	20.12%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	19.76%	+0.20%

XCEM vs. JMIEX - Expense Ratio Comparison

XCEM has a 0.16% expense ratio, which is lower than JMIEX's 0.90% expense ratio.

Dividends

XCEM vs. JMIEX - Dividend Comparison

XCEM's dividend yield for the trailing twelve months is around 2.51%, more than JMIEX's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMIEX JPMorgan Emerging Markets Equity Fund	1.10%	1.36%	1.51%	1.56%	0.54%	3.89%	0.14%	0.81%	0.95%	0.44%	0.81%	0.98%
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 JMIEX in my portfolio?

XCEM and JMIEX have a correlation of 0.86, 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 JMIEX?

JMIEX has higher volatility (11.97%) compared to XCEM (11.62%). In terms of maximum drawdown, XCEM dropped -41.24% vs JMIEX's -62.02%.

Which has better risk-adjusted returns?

JMIEX currently has the higher Sharpe Ratio (2.08 vs 2.01), 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.