XEMC.TO vs. DRFE.TO
XEMC.TO (iShares MSCI Emerging Markets ex China Index ETF) and DRFE.TO (Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF) are both Emerging Markets Equities funds. XEMC.TO is passively managed, while DRFE.TO is actively managed. Over the past 3 years, XEMC.TO returned 24.68%/yr vs 20.19%/yr for DRFE.TO. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
XEMC.TO vs. DRFE.TO - Performance Comparison
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Returns By Period
In the year-to-date period, XEMC.TO achieves a 29.59% return, which is significantly higher than DRFE.TO's 17.85% return.
XEMC.TO
- 1D
- -1.36%
- 1M
- -10.47%
- 6M
- 19.95%
- YTD
- 29.59%
- 1Y
- 48.72%
- 3Y*
- 24.68%
- 5Y*
- —
- 10Y*
- —
DRFE.TO
- 1D
- -1.72%
- 1M
- -8.01%
- 6M
- 10.15%
- YTD
- 17.85%
- 1Y
- 22.92%
- 3Y*
- 20.19%
- 5Y*
- 11.04%
- 10Y*
- —
XEMC.TO vs. DRFE.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 29.59% | 28.28% | 10.87% | 12.07% |
DRFE.TO Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF | 17.85% | 21.25% | 18.51% | 8.33% |
Correlation
The correlation between XEMC.TO and DRFE.TO is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023 | 0.56 |
Over the past year, XEMC.TO and DRFE.TO have become more correlated (0.85) than their long-term average of 0.56, meaning their price movements have been converging.
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Return for Risk
XEMC.TO vs. DRFE.TO — Risk / Return Rank
XEMC.TO
DRFE.TO
XEMC.TO vs. DRFE.TO - 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 Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF (DRFE.TO). 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.
| XEMC.TO | DRFE.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.22 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 1.87 | +1.44 |
| Martin ratioReturn relative to average drawdown | 11.44 | 5.81 | +5.63 |
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Drawdowns
XEMC.TO vs. DRFE.TO - Drawdown Comparison
The maximum XEMC.TO drawdown since its inception was -14.78%, smaller than the maximum DRFE.TO drawdown of -25.26%. Use the drawdown chart below to compare losses from any high point for XEMC.TO and DRFE.TO.
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Drawdown Indicators
| XEMC.TO | DRFE.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.78% | -25.26% | +10.48% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -12.31% | -2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -14.27% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.05% | — |
Current DrawdownCurrent decline from peak | -14.78% | -11.00% | -3.78% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -6.88% | +4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 3.96% | +0.31% |
Volatility
XEMC.TO vs. DRFE.TO - Volatility Comparison
iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) has a higher volatility of 11.82% compared to Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF (DRFE.TO) at 9.91%. This indicates that XEMC.TO's price experiences larger fluctuations and is considered to be riskier than DRFE.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEMC.TO | DRFE.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.82% | 9.91% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 24.10% | 19.43% | +4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.74% | 21.09% | +4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 16.61% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 17.23% | +0.43% |
Dividends
XEMC.TO vs. DRFE.TO - Dividend Comparison
XEMC.TO's dividend yield for the trailing twelve months is around 1.82%, more than DRFE.TO's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DRFE.TO Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF | 1.65% | 2.10% | 2.60% | 3.04% | 3.00% | 2.49% | 2.45% | 2.05% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 1.82% | 2.48% | 2.28% | 1.67% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEMC.TO and DRFE.TO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: iShares and Desjardins.
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