iShares MSCI Emerging Markets ex China (EMXC) Performance
EMXC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +26.9% since Dec 31, 2025
- 1 year
- +32.3% total return
- 5 years
- +11.1% a year
- Since first price
- +9.0% a year since 2017
EMXC trailing returns vs SPY, QQQ, AGG
| Period | EMXC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.7% | −8.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.6% | −2.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.5% | +3.9% | +7.8% | +8.4% | −1.5% |
| YTD | +26.9% | +26.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +32.3% | +29.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +102.9%+26.6%/yr | +88.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +69.0%+11.1%/yr | +49.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJul 26, 2017 | +122.5%+9.0%/yr | +80.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EMXC vs SPY
From Jul 26, 2017: EMXC grew to $22,250, SPY to $35,427.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EMXC returns by calendar year
6 of 8 full years positive. Best 2025 (+35.1%), worst 2022 (−19.6%). 2026 is year to date.
EMXC annual returns table
| Year | EMXC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +26.9% | −18.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +35.1% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.7% | −10.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +19.0% | −11.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −19.6% | −28.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +8.5% | −7.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +12.8% | −39.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +15.8% | −10.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −12.9% | −22.5% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EMXC largest drawdowns
Now 13.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −42.8% | Mar 23, 2020 | Dec 4, 2020 | 2.2 years | 2.9 years |
| Jan 12, 2022 | −28.9% | Sep 30, 2022 | Jul 3, 2024 | 9 months | 2.5 years |
| Sep 26, 2024 | −19.1% | Apr 8, 2025 | Jun 11, 2025 | 6 months | 8 months |
| Jun 22, 2026 | −18.4% | Jul 29, 2026 | not yet | 37 days | 4 months so far |
| Feb 25, 2026 | −14.4% | Mar 30, 2026 | Apr 17, 2026 | 33 days | 51 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EMXC risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +28.9% | +13.0% | +10.1% |
| Volatility (annualized) | 19.1% | 19.2% | 19.2% |
| Sharpe ratio | 1.20 | 0.55 | 0.47 |
| Sortino ratio | 2.34 | 0.89 | 0.72 |
| Best month | +15.8% | +15.8% | +15.8% |
| Worst month | −10.3% | −11.4% | −20.8% |
| Best 12 months | +75.8% | +75.8% | +75.8% |
| Worst 12 months | −1.8% | −25.3% | −25.3% |
| Positive months | 69% | 60% | 58% |
| Beta vs S&P 500 | 0.97 | 0.89 | — |
| Correlation with S&P 500 | 0.63 | 0.73 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EMXC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 100 | −25.3% | +7.0% | +75.8% | 64% |
| 3-year (a year) | 76 | −2.2% | +5.3% | +29.4% | 86% |
| 5-year (a year) | 52 | −0.6% | +6.0% | +13.1% | 90% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
EMXC performance overview
iShares MSCI Emerging Markets ex China (EMXC) returned +32.3% over the past year and +11.1% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +9.0% a year, turning $10,000 into about $22,250. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −42.8%, from Jan 26, 2018 to Mar 23, 2020, and it took 8 months to get back to the old high. EMXC finished 6 of its 8 full calendar years with a gain; the best year was 2025 (+35.1%) and the worst 2022 (−19.6%). Volatility has been 19.2% a year.
Related: EMXC chart, EMXC holdings, EMXC dividends. See the EMXC overview for the latest quote and fund facts.
EMXC performance FAQ
What is the EMXC return over the past year?
EMXC returned +32.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 29.0%.
What is the average annual return of EMXC?
EMXC has returned +11.1% a year over 5 years, +9.0% a year since July 26, 2017 (total return, distributions reinvested).
How much would $10,000 invested in EMXC be worth?
$10,000 invested in EMXC at its first recorded close on July 26, 2017 would be worth about $22,250 on October 23, 2026 with distributions reinvested.
What was the worst year for EMXC?
The worst calendar year was 2022, with a total return of −19.6%. The best was 2025 at +35.1%.
What is the biggest drawdown of EMXC?
The largest peak-to-trough decline was −42.8% between January 26, 2018 and March 23, 2020. It recovered to the old high on December 4, 2020, 8 months after the bottom.
How volatile is EMXC?
Over the past 3 years EMXC had an annualized volatility of 19.1% and a Sharpe ratio of 1.20 (excess return over 1–3 month T-bills per unit of risk).