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XSEM.TO vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSEM.TO vs. EEM

Last updated Jun 4, 2026

XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) and EEM (iShares MSCI Emerging Markets ETF) are both exchange-traded funds - XSEM.TO is a Emerging Markets Equities fund tracking the Morningstar EM GR CAD, while EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net). Both are passively managed. Over the past 5 years, XSEM.TO returned 9.59%/yr vs 10.07%/yr for EEM. A 0.78 correlation means they provide meaningful diversification when combined. XSEM.TO charges 0.32%/yr vs 0.72%/yr for EEM.

Performance

XSEM.TO vs. EEM - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with XSEM.TO having a 28.13% return and EEM slightly higher at 29.43%.

XSEM.TO

1D
-0.86%
1M
12.07%
YTD
28.13%
6M
29.29%
1Y
57.34%
3Y*
25.23%
5Y*
9.59%
10Y*
—

EEM

1D
-0.84%
1M
11.26%
YTD
29.43%
6M
30.01%
1Y
57.81%
3Y*
25.39%
5Y*
10.07%
10Y*
10.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XSEM.TO vs. EEM - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		28.13%30.16%14.82%7.04%-17.24%-3.58%15.66%5.23%
EEM
iShares MSCI Emerging Markets ETF		29.43%27.83%15.64%6.55%-14.90%-4.50%15.04%5.17%

Correlation

The correlation between XSEM.TO and EEM is 0.92, 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

0.92

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

0.91

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

0.90

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2019

0.78

The correlation between XSEM.TO and EEM shifts across timeframes, from 0.78 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

XSEM.TO vs. EEM - Sectors Allocation Comparison

Sectors
XSEM.TO
EEM

Technology

37.0%
43.6%

Financial Services

24.1%
17.5%

Consumer Cyclical

9.7%
8.1%

Communication Services

8.4%
5.7%

Industrials

5.6%
6.2%

Basic Materials

4.5%
6.1%

Healthcare

2.8%
2.5%

Energy

2.7%
3.3%

Consumer Defensive

2.3%
2.7%

Utilities

1.7%
2.0%

Real Estate

1.2%
0.9%

Technology

XSEM.TO
37.0%
EEM
43.6%

Financial Services

XSEM.TO
24.1%
EEM
17.5%

Consumer Cyclical

XSEM.TO
9.7%
EEM
8.1%

Communication Services

XSEM.TO
8.4%
EEM
5.7%

Industrials

XSEM.TO
5.6%
EEM
6.2%

Basic Materials

XSEM.TO
4.5%
EEM
6.1%

Healthcare

XSEM.TO
2.8%
EEM
2.5%

Energy

XSEM.TO
2.7%
EEM
3.3%

Consumer Defensive

XSEM.TO
2.3%
EEM
2.7%

Utilities

XSEM.TO
1.7%
EEM
2.0%

Real Estate

XSEM.TO
1.2%
EEM
0.9%

Compare stocks, funds, or ETFs

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iShares ESG Aware MSCI Emerging Markets Index ETF

iShares MSCI Emerging Markets ETF

Often compared with XSEM.TO:
XSEM.TO vs. XDSR.TOXSEM.TO vs. XMM.TOXSEM.TO vs. XEQT.TOXSEM.TO vs. XEC.TOXSEM.TO vs. XEF.TOXSEM.TO vs. VE.TOXSEM.TO vs. ZEM.TO
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM

Return for Risk

XSEM.TO vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XSEM.TO
XSEM.TO Risk / Return Rank: 8585
Overall Rank
XSEM.TO Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
XSEM.TO Sortino Ratio Rank: 8383
Sortino Ratio Rank
XSEM.TO Omega Ratio Rank: 8686
Omega Ratio Rank
XSEM.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
XSEM.TO Martin Ratio Rank: 8383
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 8181
Overall Rank
EEM Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7979
Sortino Ratio Rank
EEM Omega Ratio Rank: 8383
Omega Ratio Rank
EEM Calmar Ratio Rank: 7979
Calmar Ratio Rank
EEM Martin Ratio Rank: 8080
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.

XSEM.TO vs. EEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) and iShares MSCI Emerging Markets ETF (EEM). 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.

XSEM.TOEEMDifference
Sharpe ratioReturn per unit of total volatility
2.96
3.04

-0.08

Sortino ratioReturn per unit of downside risk
3.78
3.95

-0.17

Omega ratioGain probability vs. loss probability

1.54

1.57

-0.03

Calmar ratioReturn relative to maximum drawdown

4.69

4.86

-0.18

Martin ratioReturn relative to average drawdown

17.06

17.45

-0.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSEM.TO vs. EEM - Sharpe Ratio Comparison

The current XSEM.TO Sharpe Ratio is 2.96, which is comparable to the EEM Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of XSEM.TO and EEM, 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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Sharpe Ratios by Period

XSEM.TOEEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.96

3.04

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.61

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.60

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.46

+0.09

Drawdowns

XSEM.TO vs. EEM - Drawdown Comparison

The maximum XSEM.TO drawdown since its inception was -37.03%, which is greater than EEM's maximum drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for XSEM.TO and EEM.

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Drawdown Indicators

XSEM.TOEEMDifference

Max Drawdown

Largest peak-to-trough decline

-37.03%

-35.06%

-1.97%

Max Drawdown (1Y)

Largest decline over 1 year

-12.30%

-11.94%

-0.36%

Max Drawdown (3Y)

Largest decline over 3 years

-15.17%

-15.19%

+0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-33.18%

-30.87%

-2.31%

Max Drawdown (10Y)

Largest decline over 10 years

—

-35.06%

—

Current Drawdown

Current decline from peak

-0.86%

-0.84%

-0.02%

Average Drawdown

Average peak-to-trough decline

-13.17%

-10.08%

-3.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

3.32%

+0.05%

Volatility

XSEM.TO vs. EEM - Volatility Comparison

iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) and iShares MSCI Emerging Markets ETF (EEM) have volatilities of 8.35% and 8.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSEM.TOEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.35%

8.38%

-0.03%

Volatility (6M)

Calculated over the trailing 6-month period

17.02%

16.71%

+0.31%

Volatility (1Y)

Calculated over the trailing 1-year period

19.47%

19.13%

+0.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.06%

16.52%

+0.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.26%

17.97%

+0.29%

XSEM.TO vs. EEM - Expense Ratio Comparison

XSEM.TO has a 0.32% expense ratio, which is lower than EEM's 0.72% expense ratio.

Dividends

XSEM.TO vs. EEM - Dividend Comparison

XSEM.TO's dividend yield for the trailing twelve months is around 1.41%, less than EEM's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.74%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		1.41%1.80%2.12%1.12%2.29%2.50%1.16%2.46%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, XSEM.TO and EEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, XSEM.TO is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XSEM.TO is cheaper with a 0.32% expense ratio, compared with 0.72% for EEM.

XSEM.TO is categorized as Emerging Markets Equities, while EEM is Emerging Markets Diversified. XSEM.TO tracks Morningstar EM GR CAD, while EEM tracks MSCI Emerging Markets Index (Net). Their fees differ too: 0.32% for XSEM.TO and 0.72% for EEM.

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