XEMC.TO vs. VEXC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) and Vanguard Emerging Markets Ex-China ETF (VEXC).

XEMC.TO and VEXC 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. VEXC is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging ex China Index. It was launched on Sep 30, 2025. Both XEMC.TO and VEXC 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. VEXC - 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 Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

XEMC.TO vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF	9.76%	6.09%
VEXC Vanguard Emerging Markets Ex-China ETF	3.99%	2.96%

Different Trading Currencies

XEMC.TO is traded in CAD, while VEXC is traded in USD. To make them comparable, the VEXC 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 VEXC's 3.99% return.

XEMC.TO

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

VEXC

• 1D: 3.15%
• 1M: -6.26%
• YTD: 3.99%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XEMC.TO vs. VEXC - Expense Ratio Comparison

XEMC.TO has a 0.25% expense ratio, which is higher than VEXC's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XEMC.TO

iShares MSCI Emerging Markets ex China Index ETF

VEXC

Vanguard Emerging Markets Ex-China ETF

Return for Risk

XEMC.TO vs. VEXC — 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

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. VEXC - 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 Vanguard Emerging Markets Ex-China ETF (VEXC). 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	VEXC	Difference
Sharpe ratio Return per unit of total volatility	2.11	—	—
Sortino ratio Return per unit of downside risk	2.75	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	3.20	—	—
Martin ratio Return relative to average drawdown	11.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XEMC.TO	VEXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	0.88	+0.47

Correlation

The correlation between XEMC.TO and VEXC is 0.86, 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. VEXC - Dividend Comparison

XEMC.TO's dividend yield for the trailing twelve months is around 2.26%, more than VEXC's 0.86% yield.

	TTM	2025	2024	2023
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF	2.26%	2.48%	2.28%	1.67%
VEXC Vanguard Emerging Markets Ex-China ETF	0.86%	0.43%	0.00%	0.00%

Drawdowns

XEMC.TO vs. VEXC - Drawdown Comparison

The maximum XEMC.TO drawdown since its inception was -14.55%, which is greater than VEXC's maximum drawdown of -11.65%. Use the drawdown chart below to compare losses from any high point for XEMC.TO and VEXC.

Drawdown Indicators

	XEMC.TO	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-14.55%	-12.42%	-2.13%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	—	—
Current Drawdown Current decline from peak	-9.46%	-9.57%	+0.11%
Average Drawdown Average peak-to-trough decline	-2.22%	-2.27%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	—	—

Volatility

Volatility by Period

	XEMC.TO	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	17.14%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	17.14%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.61%	17.14%	-2.53%