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XEN.TO vs. EMXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XEN.TO vs. EMXC

Last updated Jun 14, 2026

XEN.TO (iShares Jantzi Social Index ETF) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both exchange-traded funds - XEN.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 5 years, XEN.TO returned 14.69%/yr vs 15.42%/yr for EMXC. At a 0.49 correlation, their price movements are largely independent. XEN.TO charges 0.55%/yr vs 0.49%/yr for EMXC.

Performance

XEN.TO vs. EMXC - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, XEN.TO achieves a 7.42% return, which is significantly lower than EMXC's 40.03% return.

XEN.TO

1D
-0.02%
1M
-0.17%
YTD
7.42%
6M
8.02%
1Y
30.37%
3Y*
22.08%
5Y*
14.69%
10Y*
12.24%

EMXC

1D
0.74%
1M
4.61%
YTD
40.03%
6M
44.26%
1Y
72.44%
3Y*
28.36%
5Y*
15.42%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XEN.TO vs. EMXC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XEN.TO
iShares Jantzi Social Index ETF		7.42%34.17%16.91%12.18%-3.38%28.00%-0.30%17.33%-7.93%9.33%
EMXC
iShares MSCI Emerging Markets ex China ETF		40.03%28.97%11.37%16.13%-14.46%8.48%10.08%11.02%-5.64%7.67%

Correlation

The correlation between XEN.TO and EMXC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2017

0.49

XEN.TO vs. EMXC - Sectors Allocation Comparison

Sectors
XEN.TO
EMXC

Financial Services

34.8%
17.4%

Energy

18.6%
3.4%

Basic Materials

18.3%
6.0%

Industrials

10.0%
6.9%

Technology

8.1%
52.4%

Consumer Cyclical

3.3%
4.1%

Consumer Defensive

3.1%
2.4%

Utilities

2.6%
1.9%

Communication Services

0.8%
3.0%

Real Estate

0.4%
0.8%

Healthcare

-

1.8%

Financial Services

XEN.TO
34.8%
EMXC
17.4%

Energy

XEN.TO
18.6%
EMXC
3.4%

Basic Materials

XEN.TO
18.3%
EMXC
6.0%

Industrials

XEN.TO
10.0%
EMXC
6.9%

Technology

XEN.TO
8.1%
EMXC
52.4%

Consumer Cyclical

XEN.TO
3.3%
EMXC
4.1%

Consumer Defensive

XEN.TO
3.1%
EMXC
2.4%

Utilities

XEN.TO
2.6%
EMXC
1.9%

Communication Services

XEN.TO
0.8%
EMXC
3.0%

Real Estate

XEN.TO
0.4%
EMXC
0.8%

Healthcare

XEN.TO

-

EMXC
1.8%

Compare stocks, funds, or ETFs

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iShares Jantzi Social Index ETF

iShares MSCI Emerging Markets ex China ETF

Often compared with XEN.TO:
XEN.TO vs. GEQT.TOXEN.TO vs. XCSR.TOXEN.TO vs. XDSR.TOXEN.TO vs. VFV.TOXEN.TO vs. DMEC.TOXEN.TO vs. XIU.TOXEN.TO vs. XIC.TO
Often compared with EMXC:
EMXC vs. XCEMEMXC vs. IEMGEMXC vs. VWOEMXC vs. EEMEMXC vs. SPEMEMXC vs. VEXCEMXC vs. VNM

Return for Risk

XEN.TO vs. EMXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XEN.TO
XEN.TO Risk / Return Rank: 8383
Overall Rank
XEN.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
XEN.TO Sortino Ratio Rank: 8484
Sortino Ratio Rank
XEN.TO Omega Ratio Rank: 8484
Omega Ratio Rank
XEN.TO Calmar Ratio Rank: 7878
Calmar Ratio Rank
XEN.TO Martin Ratio Rank: 8686
Martin Ratio Rank
EMXC
EMXC Risk / Return Rank: 8989
Overall Rank
EMXC Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 8686
Sortino Ratio Rank
EMXC Omega Ratio Rank: 9090
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8888
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8989
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.

XEN.TO vs. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Jantzi Social Index ETF (XEN.TO) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.

XEN.TOEMXCDifference
Sharpe ratioReturn per unit of total volatility
2.44
2.87

-0.42

Sortino ratioReturn per unit of downside risk
3.29
3.50

-0.21

Omega ratioGain probability vs. loss probability

1.45

1.51

-0.07

Calmar ratioReturn relative to maximum drawdown

3.56

5.26

-1.70

Martin ratioReturn relative to average drawdown

15.82

19.09

-3.27

XEN.TO vs. EMXC - Sharpe Ratio Comparison

The current XEN.TO Sharpe Ratio is 2.44, which is comparable to the EMXC Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of XEN.TO and EMXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XEN.TO vs. EMXC - Drawdown Comparison

The maximum XEN.TO drawdown since its inception was -49.97%, which is greater than EMXC's maximum drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for XEN.TO and EMXC.

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Drawdown Indicators

XEN.TOEMXCDifference

Max Drawdown

Largest peak-to-trough decline

-49.97%

-33.73%

-16.24%

Max Drawdown (1Y)

Largest decline over 1 year

-8.55%

-13.17%

+4.62%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-14.58%

+1.27%

Max Drawdown (5Y)

Largest decline over 5 years

-17.79%

-23.49%

+5.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.24%

—

—

Current Drawdown

Current decline from peak

-2.74%

-3.20%

+0.46%

Average Drawdown

Average peak-to-trough decline

-7.76%

-7.02%

-0.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

3.63%

-1.71%

Volatility

XEN.TO vs. EMXC - Volatility Comparison

The current volatility for iShares Jantzi Social Index ETF (XEN.TO) is 3.10%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 12.89%. This indicates that XEN.TO experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XEN.TOEMXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.10%

12.89%

-9.79%

Volatility (6M)

Calculated over the trailing 6-month period

9.98%

22.13%

-12.15%

Volatility (1Y)

Calculated over the trailing 1-year period

12.46%

24.17%

-11.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.95%

19.06%

-5.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.07%

21.05%

-5.98%

XEN.TO vs. EMXC - Expense Ratio Comparison

XEN.TO has a 0.55% expense ratio, which is higher than EMXC's 0.49% expense ratio.

Dividends

XEN.TO vs. EMXC - Dividend Comparison

XEN.TO's dividend yield for the trailing twelve months is around 1.72%, less than EMXC's 2.05% yield.

PositionTTM20252024202320222021202020192018201720162015
EMXC
iShares MSCI Emerging Markets ex China ETF		2.05%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%0.00%0.00%
XEN.TO
iShares Jantzi Social Index ETF		1.72%1.83%2.29%2.46%2.60%1.74%3.72%2.13%2.31%1.75%2.07%2.56%

Frequently Asked Questions

XEN.TO and EMXC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMXC is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMXC is cheaper with a 0.49% expense ratio, compared with 0.55% for XEN.TO.

XEN.TO is categorized as Canada Equities, while EMXC is Emerging Markets Equities. XEN.TO tracks Morningstar Canada GR CAD, while EMXC tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.55% for XEN.TO and 0.49% for EMXC.

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