EMXC vs SPY
iShares MSCI Emerging Markets ex China ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EMXC delivered stronger 1-year returns. EMXC offers more diversification with 581 holdings.
Side-by-Side Comparison
| Metric | EMXC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $23.5B | $789.1B | |
| Dividend Yield | 1.88% | 1.01% | |
| Holdings | 644 | 505 | |
| YTD Return | +27.95% | +13.39% | |
| 1Y Return | +51.64% | +22.52% | |
| 3Y Return (annualized) | +25.21% | +21.36% | |
| 5Y Return (annualized) | +11.31% | +13.19% | |
| Volatility (annualized) | 19.0% | 15.3% | |
| Max Drawdown | -46.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 18, 2017 | Jan 22, 1993 |
EMXC vs SPY Performance
iShares MSCI Emerging Markets ex China ETF (EMXC) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EMXC returned +51.64% while SPY returned +22.52%. Year to date, EMXC is up 27.95% versus a gain of 13.39% for SPY.
Over three years, EMXC compounded at +25.21% per year against +21.36% for SPY; over five years the annualized figures are +11.31% and +13.19% respectively. Across the full 11-year window we track, SPY has the edge at +8.84% annualized vs +7.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMXC has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -46.1% for EMXC and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EMXC charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, EMXC currently yields 1.88% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, EMXC or SPY?
EMXC has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, EMXC or SPY?
Over the past year EMXC returned +51.64% vs +22.52% for SPY, so EMXC leads on 1-year performance. Over the longest common window we track (11 years), EMXC annualized +7.41% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, EMXC or SPY?
EMXC has been the more volatile fund at 19.0% annualized versus 15.3% for SPY. Worst drawdown: EMXC -46.1% vs SPY -56.5%.
Should I hold both EMXC and SPY?
EMXC and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EMXC and SPY?
EMXC and SPY share 2 common holdings with a 0.1% weight overlap. Combined, they hold 1082 unique securities.
Which pays a higher dividend, EMXC or SPY?
EMXC yields 1.88% while SPY yields 1.01%, so EMXC currently pays the higher dividend yield.
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