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XSEM.TO vs. EMCL.NEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XSEM.TO vs. EMCL.NEO

Last updated Aug 5, 2026
Documentation

XSEM.TO (iShares ESG Aware MSCI Emerging Markets Index ETF) and EMCL.NEO (Global X Enhanced MSCI Emerging Markets Covered Call ETF) are both Emerging Markets Equities funds. XSEM.TO is passively managed, while EMCL.NEO is actively managed. Over the past year, XSEM.TO returned 37.09% vs 43.02% for EMCL.NEO. Their 0.73 correlation means they have sometimes moved together and sometimes differently. XSEM.TO charges 0.32%/yr vs 1.83%/yr for EMCL.NEO.

Performance

XSEM.TO vs. EMCL.NEO - 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 Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XSEM.TO achieves a 22.30% return, which is significantly lower than EMCL.NEO's 24.18% return.

XSEM.TO

1D
3.52%
1M
-3.09%
6M
16.72%
YTD
22.30%
1Y
37.09%
3Y*
21.19%
5Y*
8.61%
10Y*
—
ALL TIME*
8.76%

EMCL.NEO

1D
4.56%
1M
0.01%
6M
17.22%
YTD
24.18%
1Y
43.02%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
22.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EMCL.NEO

Global X Enhanced MSCI Emerging Markets Covered Call ETF
CA$76.62KCA$60.32KCA$48.53K

XSEM.TO

iShares ESG Aware MSCI Emerging Markets Index ETF
CA$278.16KCA$314.48KCA$405.50K

XSEM.TO vs. EMCL.NEO - Yearly Performance Comparison

2026 (YTD)20252024
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		22.30%27.51%6.58%
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Call ETF		24.18%20.46%3.66%

Correlation

The correlation between XSEM.TO and EMCL.NEO is 0.90, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.90

Correlation (All Time)
Calculated using the full available price history since May 29, 2024

0.73

The correlation between XSEM.TO and EMCL.NEO shifts across timeframes, from 0.73 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

XSEM.TO vs. EMCL.NEO - Sectors Allocation Comparison

Sectors
XSEM.TO
EMCL.NEO

Technology

45.5%
46.9%

Financial Services

22.6%
17.9%

Communication Services

7.3%
5.7%

Consumer Cyclical

6.8%
5.8%

Industrials

5.0%
6.8%

Basic Materials

4.2%
6.3%

Healthcare

2.6%
1.9%

Consumer Defensive

2.0%
2.5%

Energy

1.7%
3.4%

Utilities

1.3%
1.8%

Real Estate

1.0%
1.0%

Technology

XSEM.TO
45.5%
EMCL.NEO
46.9%

Financial Services

XSEM.TO
22.6%
EMCL.NEO
17.9%

Communication Services

XSEM.TO
7.3%
EMCL.NEO
5.7%

Consumer Cyclical

XSEM.TO
6.8%
EMCL.NEO
5.8%

Industrials

XSEM.TO
5.0%
EMCL.NEO
6.8%

Basic Materials

XSEM.TO
4.2%
EMCL.NEO
6.3%

Healthcare

XSEM.TO
2.6%
EMCL.NEO
1.9%

Consumer Defensive

XSEM.TO
2.0%
EMCL.NEO
2.5%

Energy

XSEM.TO
1.7%
EMCL.NEO
3.4%

Utilities

XSEM.TO
1.3%
EMCL.NEO
1.8%

Real Estate

XSEM.TO
1.0%
EMCL.NEO
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares ESG Aware MSCI Emerging Markets Index ETF

Global X Enhanced MSCI Emerging Markets Covered Call ETF

Often compared with XSEM.TO:
XSEM.TO vs. XDSR.TOXSEM.TO vs. XEC.TOXSEM.TO vs. XMM.TOXSEM.TO vs. XEQT.TOXSEM.TO vs. XEF.TOXSEM.TO vs. VE.TOXSEM.TO vs. ZEM.TO
Often compared with EMCL.NEO:
EMCL.NEO vs. EQCC.TOEMCL.NEO vs. EQCL.TOEMCL.NEO vs. BKCL.TOEMCL.NEO vs. ZWC.TOEMCL.NEO vs. EACC.NEOEMCL.NEO vs. BKCC.TOEMCL.NEO vs. HEQT.TO

Return for Risk

XSEM.TO vs. EMCL.NEO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
XSEM.TO
XSEM.TO Risk / Return Rank: 5959
Overall Rank
XSEM.TO Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
XSEM.TO Sortino Ratio Rank: 5252
Sortino Ratio Rank
XSEM.TO Omega Ratio Rank: 5757
Omega Ratio Rank
XSEM.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
XSEM.TO Martin Ratio Rank: 6262
Martin Ratio Rank
EMCL.NEO
EMCL.NEO Risk / Return Rank: 6666
Overall Rank
EMCL.NEO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
EMCL.NEO Sortino Ratio Rank: 5555
Sortino Ratio Rank
EMCL.NEO Omega Ratio Rank: 7272
Omega Ratio Rank
EMCL.NEO Calmar Ratio Rank: 7272
Calmar Ratio Rank
EMCL.NEO Martin Ratio Rank: 6868
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XSEM.TO vs. EMCL.NEO - 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 Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO). 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.

XSEM.TOEMCL.NEODifference
Sharpe ratioReturn per unit of total volatility
1.52
1.71

-0.19

Sortino ratioReturn per unit of downside risk
2.07
2.19

-0.12

Omega ratioGain probability vs. loss probability

1.29

1.34

-0.06

Calmar ratioReturn relative to maximum drawdown

2.70

2.85

-0.16

Martin ratioReturn relative to average drawdown

8.30

9.43

-1.13

XSEM.TO vs. EMCL.NEO - Sharpe Ratio Comparison

The current XSEM.TO Sharpe Ratio is 1.52, which is comparable to the EMCL.NEO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of XSEM.TO and EMCL.NEO, 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

XSEM.TO vs. EMCL.NEO - Drawdown Comparison

The maximum XSEM.TO drawdown since its inception was -37.09%, which is greater than EMCL.NEO's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for XSEM.TO and EMCL.NEO.

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Drawdown Indicators

XSEM.TOEMCL.NEODifference

Max Drawdown

Largest peak-to-trough decline

-37.09%

-19.73%

-17.36%

Max Drawdown (1Y)

Largest decline over 1 year

-13.82%

-15.37%

+1.55%

Max Drawdown (3Y)

Largest decline over 3 years

-15.18%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-32.59%

—

—

Current Drawdown

Current decline from peak

-6.67%

-6.72%

+0.05%

Average Drawdown

Average peak-to-trough decline

-13.06%

-2.90%

-10.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.48%

4.62%

-0.14%

Volatility

XSEM.TO vs. EMCL.NEO - Volatility Comparison

The current volatility for iShares ESG Aware MSCI Emerging Markets Index ETF (XSEM.TO) is 9.15%, while Global X Enhanced MSCI Emerging Markets Covered Call ETF (EMCL.NEO) has a volatility of 11.76%. This indicates that XSEM.TO experiences smaller price fluctuations and is considered to be less risky than EMCL.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XSEM.TOEMCL.NEODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.15%

11.76%

-2.61%

Volatility (6M)

Calculated over the trailing 6-month period

22.47%

24.11%

-1.64%

Volatility (1Y)

Calculated over the trailing 1-year period

24.54%

25.67%

-1.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.17%

24.25%

-6.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.96%

24.25%

-5.29%

XSEM.TO vs. EMCL.NEO - Expense Ratio Comparison

XSEM.TO has a 0.32% expense ratio, which is lower than EMCL.NEO's 1.83% expense ratio.

Dividends

XSEM.TO vs. EMCL.NEO - Dividend Comparison

XSEM.TO's dividend yield for the trailing twelve months is around 1.53%, less than EMCL.NEO's 10.84% yield.

PositionTTM2025202420232022202120202019
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Call ETF		10.84%9.86%3.10%0.00%0.00%0.00%0.00%0.00%
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF		1.53%1.78%2.08%1.10%2.25%2.45%1.14%2.41%

Frequently Asked Questions

XSEM.TO and EMCL.NEO have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 1.83% for EMCL.NEO.

They also come from different issuers: iShares and Global X. Their fees differ too: 0.32% for XSEM.TO and 1.83% for EMCL.NEO.

Portfolio Optimizer

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