EMXC — iShares MSCI Emerging Markets ex China ETF

EMXC Price Performance — Growth of $10,000

Value of a $10,000 investment in EMXC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

EMXC Drawdown

The "underwater" chart: EMXC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares MSCI Emerging Markets ex China ETF (EMXC) is an iShares-managed fund with $25.3 billion in assets under management. It holds a B+ grade and ranks 1 of 10 within the Emerging Markets category, placing it 42 of 458 across all tracked ETFs. The fund’s 0.25% expense ratio sits below the category median of 0.29%, while its 2.10% dividend yield trails the median of 2.49%. Concentration is notable, with the top ten holdings accounting for 42.4% of assets and Taiwan Semiconductor Manufacturing Company Limited representing the largest single position at 18.9%.

Over the past year, EMXC delivered a 32.90% return, significantly outperforming the category median of 16.16%. This long-term strength contrasts with recent short-term weakness, as the fund declined 8.07% over the last month despite a modest 0.60% gain in the previous day. The price currently trades at 60.0% of its 52-week range, reflecting a period of volatility that includes a 3.0-year history of available data. The ETFValuer grade of B+ has remained unchanged over the last 35 tracked days, indicating stable assessment despite recent price fluctuations.

EMXC exhibits high volatility with an annualized rate of 29.14% and a beta of 1.20, indicating greater sensitivity to market movements than the broader index. The fund has experienced a maximum drawdown of -19.12%, underscoring the potential for significant interim losses. A Sharpe ratio of 0.96 suggests that risk-adjusted returns have been favorable relative to the volatility endured. Liquidity is supported by an average daily volume of 2,135,164 shares, facilitating standard trading activity.

AI-generated summary based on the data on this page.

EMXC Top Holdings

Holdings as of 2026-08-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 42.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how EMXC's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EMXC

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EMXC's top 10 — IEMG overlaps most, holding 6 of the same companies as EMXC's top 10 (39.8% of EMXC's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 121.40 (as of 2026-10-16) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

EMXC Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 2.1M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $25.3B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EMXC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

EMXC Performance History

How EMXC Compares to Other Emerging Markets ETFs