XTL vs. MEMX
XTL (SPDR S&P Telecom ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. XTL is passively managed, while MEMX is actively managed. Over the past 3 years, XTL returned 46.01%/yr vs 24.90%/yr for MEMX. A 0.58 correlation means they provide meaningful diversification when combined. XTL charges 0.35%/yr vs 0.79%/yr for MEMX.
Performance
XTL vs. MEMX - Performance Comparison
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Returns By Period
In the year-to-date period, XTL achieves a 51.28% return, which is significantly higher than MEMX's 29.81% return.
XTL
- 1D
- 0.16%
- 1M
- 2.24%
- YTD
- 51.28%
- 6M
- 51.62%
- 1Y
- 120.42%
- 3Y*
- 46.01%
- 5Y*
- 18.76%
- 10Y*
- 16.27%
MEMX
- 1D
- 0.55%
- 1M
- 5.01%
- YTD
- 29.81%
- 6M
- 38.48%
- 1Y
- 63.43%
- 3Y*
- 24.90%
- 5Y*
- —
- 10Y*
- —
XTL vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XTL SPDR S&P Telecom ETF | 51.28% | 44.95% | 34.89% | -6.09% |
MEMX Matthews Emerging Markets Ex China Active ETF | 29.81% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between XTL and MEMX is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.58 |
The correlation between XTL and MEMX has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.
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Return for Risk
XTL vs. MEMX — Risk / Return Rank
XTL
MEMX
XTL vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Telecom ETF (XTL) and Matthews Emerging Markets Ex China Active ETF (MEMX). 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.
| XTL | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.47 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 7.95 | 4.16 | +3.78 |
| Martin ratioReturn relative to average drawdown | 33.56 | 15.97 | +17.59 |
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Drawdowns
XTL vs. MEMX - Drawdown Comparison
The maximum XTL drawdown since its inception was -37.01%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for XTL and MEMX.
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Drawdown Indicators
| XTL | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.01% | -19.27% | -17.74% |
Max Drawdown (1Y)Largest decline over 1 year | -14.70% | -14.70% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -22.79% | -19.27% | -3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -37.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.01% | — | — |
Current DrawdownCurrent decline from peak | -6.72% | -3.40% | -3.32% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -3.50% | -6.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.83% | -0.35% |
Volatility
XTL vs. MEMX - Volatility Comparison
SPDR S&P Telecom ETF (XTL) and Matthews Emerging Markets Ex China Active ETF (MEMX) have volatilities of 11.43% and 11.94%, 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
| XTL | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.43% | 11.94% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 24.28% | 21.24% | +3.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.13% | 23.42% | +6.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.34% | 17.73% | +7.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.66% | 17.73% | +5.93% |
XTL vs. MEMX - Expense Ratio Comparison
XTL has a 0.35% expense ratio, which is lower than MEMX's 0.79% expense ratio.
Dividends
XTL vs. MEMX - Dividend Comparison
XTL's dividend yield for the trailing twelve months is around 0.86%, less than MEMX's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEMX Matthews Emerging Markets Ex China Active ETF | 3.76% | 4.88% | 0.99% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XTL SPDR S&P Telecom ETF | 0.86% | 1.05% | 0.62% | 0.80% | 0.74% | 1.25% | 0.88% | 0.92% | 1.90% | 2.08% | 1.11% | 1.38% |
Frequently Asked Questions
XTL and MEMX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEMX has higher volatility (11.94%) compared to XTL (11.43%). In terms of maximum drawdown, XTL dropped -37.01% vs MEMX's -19.27%.
On 3-year performance, XTL leads with 46.01% vs 24.90% for MEMX. On fees, XTL is cheaper at 0.35% per year. On volatility, XTL has been the lower-risk option at 11.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTL has performed better with a 46.01% return vs 24.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTL is cheaper with a 0.35% expense ratio, compared with 0.79% for MEMX.
MEMX has the higher dividend yield at 3.76%, compared with 0.86% for XTL.
XTL is categorized as Communications Equities, while MEMX is Emerging Markets Diversified. They also come from different issuers: State Street and Matthews. Their fees differ too: 0.35% for XTL and 0.79% for MEMX.
XTL currently has the higher Sharpe Ratio (3.88 vs 2.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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