XMLA.L vs. CMXC.L
XMLA.L (Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C) and CMXC.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) are both Latin America Equities funds - XMLA.L tracks the MSCI EM Latin America NR USD while CMXC.L tracks the MSCI Mexico Capped Index (Net Return Index). Both are passively managed. Over the past 10 years, XMLA.L returned 4.01%/yr vs 6.55%/yr for CMXC.L. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.
Performance
XMLA.L vs. CMXC.L - Performance Comparison
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Different Trading Currencies
XMLA.L is traded in GBp, while CMXC.L is traded in USD. To make them comparable, the CMXC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XMLA.L achieves a 11.19% return, which is significantly higher than CMXC.L's 10.42% return. Over the past 10 years, XMLA.L has underperformed CMXC.L with an annualized return of 4.01%, while CMXC.L has yielded a comparatively higher 6.55% annualized return.
XMLA.L
- 1D
- -1.16%
- 1M
- -0.65%
- 6M
- 6.25%
- YTD
- 11.19%
- 1Y
- 33.34%
- 3Y*
- 8.45%
- 5Y*
- 5.77%
- 10Y*
- 4.01%
CMXC.L
- 1D
- 0.00%
- 1M
- -5.32%
- 6M
- 4.60%
- YTD
- 10.42%
- 1Y
- 32.77%
- 3Y*
- 9.63%
- 5Y*
- 13.24%
- 10Y*
- 6.55%
XMLA.L vs. CMXC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMLA.L Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C | 11.19% | 47.26% | -28.14% | 19.29% | 15.56% | -17.92% | -16.50% | 12.08% | 1.68% | 8.06% |
CMXC.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.42% | 46.08% | -26.83% | 30.93% | 10.61% | 20.19% | -3.01% | 5.62% | -8.45% | 2.85% |
Correlation
The correlation between XMLA.L and CMXC.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.65 |
The correlation between XMLA.L and CMXC.L has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
XMLA.L vs. CMXC.L — Risk / Return Rank
XMLA.L
CMXC.L
XMLA.L vs. CMXC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) and iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMXC.L). 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.
| XMLA.L | CMXC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.44 | -0.09 |
| Martin ratioReturn relative to average drawdown | 6.56 | 8.31 | -1.75 |
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Drawdowns
XMLA.L vs. CMXC.L - Drawdown Comparison
The maximum XMLA.L drawdown since its inception was -75.32%, which is greater than CMXC.L's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for XMLA.L and CMXC.L.
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Drawdown Indicators
| XMLA.L | CMXC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.32% | -50.68% | -24.64% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -13.15% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -28.38% | -29.79% | +1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -30.25% | -29.79% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -49.07% | -50.68% | +1.61% |
Current DrawdownCurrent decline from peak | -40.52% | -6.96% | -33.56% |
Average DrawdownAverage peak-to-trough decline | -53.04% | -14.43% | -38.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.07% | 3.86% | +1.21% |
Volatility
XMLA.L vs. CMXC.L - Volatility Comparison
The current volatility for Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) is 4.84%, while iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMXC.L) has a volatility of 5.62%. This indicates that XMLA.L experiences smaller price fluctuations and is considered to be less risky than CMXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMLA.L | CMXC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 5.62% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 18.36% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.60% | 21.56% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.28% | 22.13% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.02% | 25.06% | -0.04% |
XMLA.L vs. CMXC.L - Expense Ratio Comparison
Both XMLA.L and CMXC.L have an expense ratio of 0.65%.
Dividends
XMLA.L vs. CMXC.L - Dividend Comparison
Neither XMLA.L nor CMXC.L has paid dividends to shareholders.
Frequently Asked Questions
XMLA.L and CMXC.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XMLA.L and CMXC.L have the same expense ratio: 0.65% per year.
XMLA.L tracks MSCI EM Latin America NR USD, while CMXC.L tracks MSCI Mexico Capped Index (Net Return Index). They also come from different issuers: Xtrackers and iShares.
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