XEMC.TO vs. AVXC
XEMC.TO (iShares MSCI Emerging Markets ex China Index ETF) and AVXC (Avantis Emerging Markets ex-China Equity ETF) are both exchange-traded funds - XEMC.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index (Net), while AVXC is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets IMI. Both are passively managed. Over the past year, XEMC.TO returned 79.31% vs 64.47% for AVXC. Their correlation of 0.88 suggests significant overlap in exposure. XEMC.TO charges 0.25%/yr vs 0.33%/yr for AVXC.
Performance
XEMC.TO vs. AVXC - Performance Comparison
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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 43.62% return, which is significantly higher than AVXC's 35.77% return.
XEMC.TO
- 1D
- -0.54%
- 1M
- 14.95%
- YTD
- 43.62%
- 6M
- 46.03%
- 1Y
- 79.31%
- 3Y*
- 29.96%
- 5Y*
- —
- 10Y*
- —
AVXC
- 1D
- -1.04%
- 1M
- 12.83%
- YTD
- 35.77%
- 6M
- 37.64%
- 1Y
- 64.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEMC.TO vs. AVXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 43.62% | 28.28% | 4.62% |
AVXC Avantis Emerging Markets ex-China Equity ETF | 35.77% | 25.42% | 5.45% |
Correlation
The correlation between XEMC.TO and AVXC is 0.89, 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024 | 0.88 |
The correlation between XEMC.TO and AVXC has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.
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Return for Risk
XEMC.TO vs. AVXC — Risk / Return Rank
XEMC.TO
AVXC
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 ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.62 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 6.08 | 5.20 | +0.88 |
| Martin ratioReturn relative to average drawdown | 23.21 | 19.65 | +3.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XEMC.TO | AVXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.85 | 3.36 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.83 | 1.78 | +0.04 |
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.
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Drawdown Indicators
| XEMC.TO | AVXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.55% | -15.71% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -12.47% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.55% | — | — |
Current DrawdownCurrent decline from peak | -0.54% | -1.04% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -2.41% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 3.29% | +0.14% |
Volatility
XEMC.TO vs. AVXC - Volatility Comparison
iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) and Avantis Emerging Markets ex-China Equity ETF (AVXC) have volatilities of 9.10% and 8.88%, 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.
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Volatility by Period
| XEMC.TO | AVXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.10% | 8.88% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 18.42% | 17.08% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.69% | 19.31% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.74% | 17.21% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.74% | 17.21% | -1.47% |
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.
Dividends
XEMC.TO vs. AVXC - Dividend Comparison
XEMC.TO's dividend yield for the trailing twelve months is around 1.72%, more than AVXC's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AVXC Avantis Emerging Markets ex-China Equity ETF | 1.49% | 1.97% | 1.34% | 0.00% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 1.72% | 2.48% | 2.28% | 1.67% |
Frequently Asked Questions
XEMC.TO and AVXC have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEMC.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEMC.TO is cheaper with a 0.25% expense ratio, compared with 0.33% for AVXC.
XEMC.TO is categorized as Emerging Markets Equities, while AVXC is Emerging Markets Diversified. XEMC.TO tracks MSCI Emerging Markets ex China Index (Net), while AVXC tracks MSCI Emerging Markets IMI. They also come from different issuers: iShares and Avantis Investors. Their fees differ too: 0.25% for XEMC.TO and 0.33% for AVXC.
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