XSAB.TO vs. EMXC

Last updated Jun 14, 2026

XSAB.TO (iShares ESG Aware Canadian Aggregate Bond Index ETF) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both exchange-traded funds - XSAB.TO is a Canadian Government Bonds fund tracking the Morningstar Can Core Bd 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, XSAB.TO returned 0.54%/yr vs 15.42%/yr for EMXC. At a 0.05 correlation, their price movements are largely independent. XSAB.TO charges 0.17%/yr vs 0.49%/yr for EMXC.

Performance

XSAB.TO vs. EMXC - Performance Comparison

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

Different Trading Currencies

XSAB.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, XSAB.TO achieves a 1.61% return, which is significantly lower than EMXC's 40.03% return.

XSAB.TO

• 1D: 0.00%
• 1M: 1.23%
• YTD: 1.61%
• 6M: 1.99%
• 1Y: 3.71%
• 3Y*: 4.52%
• 5Y*: 0.54%
• 10Y*: —

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)

XSAB.TO vs. EMXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XSAB.TO iShares ESG Aware Canadian Aggregate Bond Index ETF	1.61%	2.22%	4.03%	6.35%	-11.42%	-2.71%	7.79%	2.30%
EMXC iShares MSCI Emerging Markets ex China ETF	40.03%	28.97%	11.37%	16.13%	-14.46%	8.48%	10.08%	7.66%

Correlation

The correlation between XSAB.TO and EMXC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Mar 28, 2019	0.05

Over the past year, XSAB.TO and EMXC have become more correlated (0.32) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

XSAB.TO vs. EMXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XSAB.TO

XSAB.TO Risk / Return Rank: 25
XSAB.TO Sharpe Ratio Rank: 25
XSAB.TO Sortino Ratio Rank: 23
XSAB.TO Omega Ratio Rank: 23
XSAB.TO Calmar Ratio Rank: 28
XSAB.TO Martin Ratio Rank: 25

EMXC

EMXC Risk / Return Rank: 89
EMXC Sharpe Ratio Rank: 91
EMXC Sortino Ratio Rank: 86
EMXC Omega Ratio Rank: 90
EMXC Calmar Ratio Rank: 88
EMXC Martin Ratio Rank: 89

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware Canadian Aggregate Bond Index ETF (XSAB.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.

	XSAB.TO	EMXC	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.87	-2.07
Sortino ratio: Return per unit of downside risk	1.12	3.50	-2.38
Omega ratio: Gain probability vs. loss probability	1.14	1.51	-0.37
Calmar ratio: Return relative to maximum drawdown	1.24	5.26	-4.02
Martin ratio: Return relative to average drawdown	2.90	19.09	-16.19

XSAB.TO vs. EMXC - Sharpe Ratio Comparison

The current XSAB.TO Sharpe Ratio is 0.80, which is lower than the EMXC Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of XSAB.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.

Drawdowns

XSAB.TO vs. EMXC - Drawdown Comparison

The maximum XSAB.TO drawdown since its inception was -17.96%, smaller than the maximum EMXC drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for XSAB.TO and EMXC.

Drawdown Indicators

	XSAB.TO	EMXC	Difference
Max Drawdown Largest peak-to-trough decline	-17.96%	-33.73%	+15.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-13.17%	+10.45%
Max Drawdown (3Y) Largest decline over 3 years	-5.30%	-14.58%	+9.28%
Max Drawdown (5Y) Largest decline over 5 years	-15.66%	-23.49%	+7.83%
Current Drawdown Current decline from peak	-1.87%	-3.20%	+1.33%
Average Drawdown Average peak-to-trough decline	-6.46%	-7.02%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	3.63%	-2.47%

Volatility

XSAB.TO vs. EMXC - Volatility Comparison

The current volatility for iShares ESG Aware Canadian Aggregate Bond Index ETF (XSAB.TO) is 1.47%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 12.89%. This indicates that XSAB.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.

Volatility by Period

	XSAB.TO	EMXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	12.89%	-11.42%
Volatility (6M) Calculated over the trailing 6-month period	3.20%	22.13%	-18.93%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	24.17%	-19.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.31%	19.06%	-12.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.64%	21.05%	-14.41%

XSAB.TO vs. EMXC - Expense Ratio Comparison

XSAB.TO has a 0.17% expense ratio, which is lower than EMXC's 0.49% expense ratio.

Dividends

XSAB.TO vs. EMXC - Dividend Comparison

XSAB.TO's dividend yield for the trailing twelve months is around 3.26%, more than EMXC's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
XSAB.TO iShares ESG Aware Canadian Aggregate Bond Index ETF	3.26%	3.20%	3.01%	2.81%	2.75%	2.35%	2.49%	2.05%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSAB.TO and EMXC in my portfolio?

XSAB.TO and EMXC have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSAB.TO or EMXC?

On fees, XSAB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSAB.TO or EMXC?

XSAB.TO is cheaper with a 0.17% expense ratio, compared with 0.49% for EMXC.

What is the main difference between XSAB.TO and EMXC?

XSAB.TO is categorized as Canadian Government Bonds, while EMXC is Emerging Markets Equities. XSAB.TO tracks Morningstar Can Core Bd GR CAD, while EMXC tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.17% for XSAB.TO and 0.49% for EMXC.