XEMC.TO vs. AVXC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) and Avantis Emerging Markets ex-China Equity ETF (AVXC).

XEMC.TO and AVXC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XEMC.TO is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets ex China Index (Net). It was launched on Feb 7, 2023. AVXC is a passively managed fund by Avantis Investors that tracks the performance of the MSCI Emerging Markets IMI. It was launched on Mar 19, 2024. Both XEMC.TO and AVXC 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

XEMC.TO vs. AVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) and Avantis Emerging Markets ex-China Equity ETF (AVXC). The values are adjusted to include any dividend payments, if applicable.

XEMC.TO vs. AVXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF	9.76%	28.28%	4.62%
AVXC Avantis Emerging Markets ex-China Equity ETF	7.52%	25.42%	5.45%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEMC.TO achieves a 9.76% return, which is significantly higher than AVXC's 7.52% return.

XEMC.TO

• 1D: 4.21%
• 1M: -8.58%
• YTD: 9.76%
• 6M: 18.13%
• 1Y: 41.69%
• 3Y*: 20.37%
• 5Y*: —
• 10Y*: —

AVXC

• 1D: 3.67%
• 1M: -8.44%
• YTD: 7.52%
• 6M: 14.37%
• 1Y: 37.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XEMC.TO vs. AVXC - Expense Ratio Comparison

XEMC.TO has a 0.25% expense ratio, which is lower than AVXC's 0.33% expense ratio.

AVXC

Avantis Emerging Markets ex-China Equity ETF

XEMC.TO

iShares MSCI Emerging Markets ex China Index ETF

Return for Risk

XEMC.TO vs. AVXC — Risk / Return Rank

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

XEMC.TO

XEMC.TO Risk / Return Rank: 91
XEMC.TO Sharpe Ratio Rank: 92
XEMC.TO Sortino Ratio Rank: 93
XEMC.TO Omega Ratio Rank: 91
XEMC.TO Calmar Ratio Rank: 91
XEMC.TO Martin Ratio Rank: 90

AVXC

AVXC Risk / Return Rank: 92
AVXC Sharpe Ratio Rank: 93
AVXC Sortino Ratio Rank: 93
AVXC Omega Ratio Rank: 92
AVXC Calmar Ratio Rank: 89
AVXC Martin Ratio Rank: 91

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.

XEMC.TO vs. AVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) and Avantis Emerging Markets ex-China Equity ETF (AVXC). 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.

	XEMC.TO	AVXC	Difference
Sharpe ratio Return per unit of total volatility	2.11	2.03	+0.07
Sortino ratio Return per unit of downside risk	2.75	2.64	+0.11
Omega ratio Gain probability vs. loss probability	1.39	1.39	+0.01
Calmar ratio Return relative to maximum drawdown	3.20	2.99	+0.21
Martin ratio Return relative to average drawdown	11.76	10.88	+0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XEMC.TO vs. AVXC - Sharpe Ratio Comparison

The current XEMC.TO Sharpe Ratio is 2.11, which is comparable to the AVXC Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XEMC.TO and AVXC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XEMC.TO	AVXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.03	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.20	+0.15

Correlation

The correlation between XEMC.TO and AVXC is 0.88, 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

XEMC.TO vs. AVXC - Dividend Comparison

XEMC.TO's dividend yield for the trailing twelve months is around 2.26%, more than AVXC's 1.89% yield.

	TTM	2025	2024	2023
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF	2.26%	2.48%	2.28%	1.67%
AVXC Avantis Emerging Markets ex-China Equity ETF	1.89%	1.97%	1.34%	0.00%

Drawdowns

XEMC.TO vs. AVXC - Drawdown Comparison

The maximum XEMC.TO drawdown since its inception was -14.55%, smaller than the maximum AVXC drawdown of -15.71%. Use the drawdown chart below to compare losses from any high point for XEMC.TO and AVXC.

Drawdown Indicators

	XEMC.TO	AVXC	Difference
Max Drawdown Largest peak-to-trough decline	-14.55%	-20.44%	+5.89%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-14.04%	+0.92%
Current Drawdown Current decline from peak	-9.46%	-10.78%	+1.32%
Average Drawdown Average peak-to-trough decline	-2.22%	-3.92%	+1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	3.36%	+0.20%

Volatility

XEMC.TO vs. AVXC - Volatility Comparison

iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) has a higher volatility of 11.60% compared to Avantis Emerging Markets ex-China Equity ETF (AVXC) at 10.47%. This indicates that XEMC.TO's price experiences larger fluctuations and is considered to be riskier than AVXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XEMC.TO	AVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.60%	10.47%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	15.49%	14.32%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	18.42%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	15.95%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.61%	15.95%	-1.34%