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XEM.TO vs. VSGX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XEM.TO vs. VSGX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Emerging Markets Index ETF (XEM.TO) and Vanguard ESG International Stock ETF (VSGX).

XEM.TO and VSGX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XEM.TO is a passively managed fund by iShares that tracks the performance of the Morningstar EM GR CAD. It was launched on Jun 18, 2009. VSGX is a passively managed fund by Vanguard that tracks the performance of the FTSE Global All Cap ex US Choice Index.. It was launched on Sep 18, 2018. Both XEM.TO and VSGX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XEM.TO vs. VSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Emerging Markets Index ETF (XEM.TO) and Vanguard ESG International Stock ETF (VSGX). The values are adjusted to include any dividend payments, if applicable.

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XEM.TO vs. VSGX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
XEM.TO
iShares MSCI Emerging Markets Index ETF		6.06%27.25%14.98%6.49%-15.74%-4.09%14.12%11.48%-2.50%
VSGX
Vanguard ESG International Stock ETF		3.41%24.77%14.81%13.08%-12.80%6.27%11.10%16.99%-7.84%
Different Trading Currencies

XEM.TO is traded in CAD, while VSGX is traded in USD. To make them comparable, the VSGX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XEM.TO achieves a 6.06% return, which is significantly higher than VSGX's 3.41% return.

XEM.TO

1D
0.83%
1M
-5.27%
YTD
6.06%
6M
7.42%
1Y
29.24%
3Y*
16.62%
5Y*
5.34%
10Y*
7.95%

VSGX

1D
1.23%
1M
-4.45%
YTD
3.41%
6M
5.63%
1Y
23.63%
3Y*
16.31%
5Y*
8.47%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Emerging Markets Index ETF

Vanguard ESG International Stock ETF

Often compared with XEM.TO:
XEM.TO vs. XEC.TOXEM.TO vs. XEF.TOXEM.TO vs. XEQT.TOXEM.TO vs. VOOXEM.TO vs. VXC.TOXEM.TO vs. ZEA.TOXEM.TO vs. VFV.TO
Often compared with VSGX:
VSGX vs. VXUSVSGX vs. VOOVSGX vs. VTIVSGX vs. VEAVSGX vs. FNIDXVSGX vs. AVDVVSGX vs. EFAX

XEM.TO vs. VSGX - Expense Ratio Comparison

XEM.TO has a 0.81% expense ratio, which is higher than VSGX's 0.12% expense ratio.

XEM.TO
iShares MSCI Emerging Markets Index ETF
VSGX
Vanguard ESG International Stock ETF

Return for Risk

XEM.TO vs. VSGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEM.TO
XEM.TO Risk / Return Rank: 7777
Overall Rank
XEM.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XEM.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
XEM.TO Omega Ratio Rank: 7676
Omega Ratio Rank
XEM.TO Calmar Ratio Rank: 8080
Calmar Ratio Rank
XEM.TO Martin Ratio Rank: 7272
Martin Ratio Rank
VSGX
VSGX Risk / Return Rank: 7878
Overall Rank
VSGX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VSGX Sortino Ratio Rank: 7979
Sortino Ratio Rank
VSGX Omega Ratio Rank: 7878
Omega Ratio Rank
VSGX Calmar Ratio Rank: 7777
Calmar Ratio Rank
VSGX Martin Ratio Rank: 7676
Martin Ratio Rank
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.

XEM.TO vs. VSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Index ETF (XEM.TO) and Vanguard ESG International Stock ETF (VSGX). 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.

XEM.TOVSGXDifference

Sharpe ratio

Return per unit of total volatility

1.50

1.45

+0.05

Sortino ratio

Return per unit of downside risk

2.03

1.94

+0.09

Omega ratio

Gain probability vs. loss probability

1.30

1.29

+0.01

Calmar ratio

Return relative to maximum drawdown

2.34

1.89

+0.45

Martin ratio

Return relative to average drawdown

7.84

7.12

+0.71

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEM.TO vs. VSGX - Sharpe Ratio Comparison

The current XEM.TO Sharpe Ratio is 1.50, which is comparable to the VSGX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of XEM.TO and VSGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XEM.TOVSGXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.50

1.45

+0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.33

0.65

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.57

-0.20

Correlation

The correlation between XEM.TO and VSGX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XEM.TO vs. VSGX - Dividend Comparison

XEM.TO's dividend yield for the trailing twelve months is around 1.80%, less than VSGX's 3.23% yield.

TTM20252024202320222021202020192018201720162015
XEM.TO
iShares MSCI Emerging Markets Index ETF		1.80%1.90%2.08%2.39%2.10%1.91%1.28%2.57%1.96%1.78%1.96%2.22%
VSGX
Vanguard ESG International Stock ETF		3.23%3.23%3.10%2.77%2.61%2.49%1.67%2.28%0.38%0.00%0.00%0.00%

Drawdowns

XEM.TO vs. VSGX - Drawdown Comparison

The maximum XEM.TO drawdown since its inception was -35.29%, which is greater than VSGX's maximum drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for XEM.TO and VSGX.

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Drawdown Indicators

XEM.TOVSGXDifference

Max Drawdown

Largest peak-to-trough decline

-35.29%

-33.09%

-2.20%

Max Drawdown (1Y)

Largest decline over 1 year

-12.64%

-12.84%

+0.20%

Max Drawdown (5Y)

Largest decline over 5 years

-31.08%

-32.14%

+1.06%

Max Drawdown (10Y)

Largest decline over 10 years

-35.29%

—

—

Current Drawdown

Current decline from peak

-8.08%

-8.51%

+0.43%

Average Drawdown

Average peak-to-trough decline

-10.54%

-7.90%

-2.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.78%

3.28%

+0.50%

Volatility

XEM.TO vs. VSGX - Volatility Comparison

iShares MSCI Emerging Markets Index ETF (XEM.TO) has a higher volatility of 9.22% compared to Vanguard ESG International Stock ETF (VSGX) at 7.99%. This indicates that XEM.TO's price experiences larger fluctuations and is considered to be riskier than VSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEM.TOVSGXDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.22%

7.99%

+1.23%

Volatility (6M)

Calculated over the trailing 6-month period

14.53%

11.76%

+2.77%

Volatility (1Y)

Calculated over the trailing 1-year period

19.66%

16.40%

+3.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.34%

13.11%

+3.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.85%

15.03%

+2.82%