XCNY vs. EMKT

Last updated Jun 24, 2026

XCNY (SPDR S&P Emerging Markets ex-China ETF) and EMKT (Lazard Emerging Markets Opportunities ETF) are both Emerging Markets Diversified funds. XCNY is passively managed, while EMKT is actively managed. Their correlation of 0.90 suggests significant overlap in exposure. XCNY charges 0.15%/yr vs 0.74%/yr for EMKT.

Performance

XCNY vs. EMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets ex-China ETF (XCNY) and Lazard Emerging Markets Opportunities ETF (EMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCNY achieves a 19.25% return, which is significantly lower than EMKT's 25.38% return.

XCNY

• 1D: -3.40%
• 1M: 3.23%
• YTD: 19.25%
• 6M: 19.54%
• 1Y: 36.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMKT

• 1D: -5.64%
• 1M: 3.35%
• YTD: 25.38%
• 6M: 26.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCNY vs. EMKT - Yearly Performance Comparison

	2026 (YTD)	2025
XCNY SPDR S&P Emerging Markets ex-China ETF	19.25%	1.32%
EMKT Lazard Emerging Markets Opportunities ETF	25.38%	-1.26%

Correlation

The correlation between XCNY and EMKT is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	0.90

Return for Risk

XCNY vs. EMKT — Risk / Return Rank

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

XCNY

XCNY Risk / Return Rank: 68
XCNY Sharpe Ratio Rank: 69
XCNY Sortino Ratio Rank: 65
XCNY Omega Ratio Rank: 69
XCNY Calmar Ratio Rank: 67
XCNY Martin Ratio Rank: 69

EMKT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XCNY vs. EMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets ex-China ETF (XCNY) and Lazard Emerging Markets Opportunities ETF (EMKT). 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.

	XCNY	EMKT	Difference
Sharpe ratio: Return per unit of total volatility	2.02	—	—
Sortino ratio: Return per unit of downside risk	2.73	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.08	—	—
Martin ratio: Return relative to average drawdown	11.54	—	—

Drawdowns

XCNY vs. EMKT - Drawdown Comparison

The maximum XCNY drawdown since its inception was -19.70%, which is greater than EMKT's maximum drawdown of -14.21%. Use the drawdown chart below to compare losses from any high point for XCNY and EMKT.

Drawdown Indicators

	XCNY	EMKT	Difference
Max Drawdown Largest peak-to-trough decline	-19.70%	-14.21%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	—	—
Current Drawdown Current decline from peak	-3.40%	-5.64%	+2.24%
Average Drawdown Average peak-to-trough decline	-4.09%	-3.10%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	—	—

Volatility

Volatility by Period

	XCNY	EMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.05%	24.71%	-6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	24.71%	-6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	24.71%	-6.33%

XCNY vs. EMKT - Expense Ratio Comparison

XCNY has a 0.15% expense ratio, which is lower than EMKT's 0.74% expense ratio.

Dividends

XCNY vs. EMKT - Dividend Comparison

XCNY's dividend yield for the trailing twelve months is around 2.24%, more than EMKT's 0.44% yield.

Position	TTM	2025	2024
EMKT Lazard Emerging Markets Opportunities ETF	0.44%	0.00%	0.00%
XCNY SPDR S&P Emerging Markets ex-China ETF	2.24%	2.68%	1.07%

Frequently Asked Questions

Can I hold both XCNY and EMKT in my portfolio?

With a correlation of 0.90, XCNY and EMKT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XCNY or EMKT?

On fees, XCNY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCNY or EMKT?

XCNY is cheaper with a 0.15% expense ratio, compared with 0.74% for EMKT.

Which ETF pays a higher dividend yield, XCNY or EMKT?

XCNY has the higher dividend yield at 2.24%, compared with 0.44% for EMKT.

What is the main difference between XCNY and EMKT?

They also come from different issuers: State Street and Lazard. Their fees differ too: 0.15% for XCNY and 0.74% for EMKT.