EEM vs EMXC: Grades, Fees and Holdings Compared

iShares MSCI Emerging Markets ETF

EEMBNYSE Arca

iShares MSCI Emerging Markets ex China ETF

EMXCBNasdaq

Overlap

80.6%by weight

Expense ratio

EMXC −0.47pt a year

EEM0.72%EMXC0.25%

Avg volume · 30D

EEM 8.9×the volume

EEM20.9MEMXC2.33M

5Y return · a year

EMXC +4.6pt

EEM+6.2%EMXC+10.8%

EEM vs EMXC Performance

Oct 29, 2021 – Oct 30, 2026

+34.9%EEM+66.7%EMXC

Expense ratio: EEM 0.72%; EMXC 0.25%, better
Fund size: EEM $28.2B; EMXC $25.4B
1Y total return: EEM +12.5%; EMXC +27.3%, better
Yield (12M): EEM 1.83%; EMXC 2.14%, better
Holdings: EEM 1206; EMXC 625
Avg volume (30D): EEM 20.9M sh, better; EMXC 2.33M sh
NAV per share: EEM $60.94; EMXC $89.69
52W range

ETF.net Grade

Pillar letters and Scores for EEM, EMXC, with each pillar’s weight
Pillar	EEM	EMXC
Cost30% weight	D27	B63Higher
Mission25% weight	A100	A100
Risk15% weight	C42Higher	D36
Tradability15% weight	A77Higher	C52
Holdings10% weight	C53Higher	D35
Durability5% weight	A73Higher	C47

Rank among MSCI Emerging Markets Core funds

How we build Categories ›

Same Category. EEM and EMXC are both graded against the same 5 MSCI Emerging Markets Core funds, so their Grades compare head to head.

MSCI Emerging Markets Core⁠

Category · 5 funds

See all 5 ›

EMXC ranks 2nd and EEM 3rd of 5 funds in the MSCI Emerging Markets Core Category.

Rank 1AIEMGiShares Core MSCI Emerging Markets ETFScore 76
Rank 2BEMXCiShares MSCI Emerging Markets ex China ETFScore 63
Rank 3BEEMiShares MSCI Emerging Markets ETFScore 59
Rank 4CDBEMXtrackers MSCI Emerging Markets Hedged Equity ETFScore 39

Our read on each fund

ETF.net Research

EEMBiShares MSCI Emerging Markets ETF

EMXCBiShares MSCI Emerging Markets ex China ETF

In short

EEM The 2003 original. iShares' first big emerging-markets fund is still one of the most actively traded ways to own large- and mid-cap stocks across developing economies, and it carries a legacy price tag to match.

EMXC Launched in 2017, EMXC turns one decision into two: own large- and mid-cap emerging markets through a standard MSCI index, then size China on your own, separately. Roughly 600 stocks, one very large country deliberately absent.

Stated mandate

EEM The fund seeks to track an index representing large- and mid-capitalization equities from emerging-market countries.

EMXC The fund seeks to track an index of large- and mid-cap companies across emerging markets while excluding China, providing diversified international equity exposure.

Why people hold it

EEM Launched in 2003, one of the earliest broad emerging-markets ETFs, and still a very actively traded fund with tens of billions in assets, which supports tight pricing for size.
Tracks the MSCI Emerging Markets Index (Net) very closely, with among the tightest measured index-tracking in its peer group.
One ticket for large- and mid-cap companies across emerging-market countries, in a plain 1940 Act fund wrapper rather than a trust or partnership.

EMXC Costs 0.25% a year, well under the roughly 0.66% median in its MSCI emerging-markets cohort.
A multi-billion-dollar, actively traded fund, one of the established ways to run the ex-China version of emerging markets.
No bolted-on tilts. It follows the MSCI Emerging Markets ex China Index of roughly 600 large- and mid-cap names, and the mandate matches the label.ishares.com
iShares frames it as keeping broad emerging-markets exposure while handling the China allocation separately, which fits investors who already own China elsewhere.ishares.com

Worth knowing

EEM The fee is the trade-off: 0.72% a year, above the peer-group median of 0.66%, while the newer core sibling IEMG charges 0.09% for a similar MSCI emerging-markets mandate.
Broad emerging-market equity brings currency swings and single-country politics along with stock risk; measured volatility sits at the higher end of this cohort.
Income arrives once or twice a year, not quarterly or monthly.

EMXC The carve-out costs extra: IEMG covers broad emerging markets including China for 0.09%. Splitting the exposure also means two tickers to maintain.
Emerging-market equities move hard in both directions, and cutting out one large market leaves the rest of the index carrying the whole load.
Distributions arrive annually or semiannually, not monthly or quarterly.

Full EEM profile⁠

Full EMXC profile⁠

EEM vs EMXC Holdings

How EEM and EMXC differ

Overlap by weight

80.6%

Shared holdings make up 100% of EMXC and 80.7% of EEM.

Level by level

Countryby domicile79.2%
Holdings603 in both80.6%
Sector11 Sectors91.8%
Asset classEquity100%

Sector

Sector weights in EEM and EMXC, widest gap first
Sector	More in EEMMore in EMXC	EEM	EMXC
Technology	EMXC +7.8 points	41.9%	49.7%
Consumer Discretionary	EEM +3.8 points	7.6%	3.8%
Communication	EEM +2.8 points	6.0%	3.2%
Health Care	EEM +0.7 points	2.7%	2.0%
Financials	EEM +0.5 points	20.3%	19.8%
Materials	EMXC +0.2 points	5.9%	6.1%
Industrials	EMXC +0.2 points	6.0%	6.2%
Real Estate	EEM +0.1 points	1.0%	0.9%
Consumer Staples	EEM +0.1 points	2.8%	2.7%
Utilities	Same weight	1.9%	1.9%
Energy	Same weight	3.7%	3.7%

Country, concentration and asset class

Country by domicile

Country weights in EEM and EMXC, widest gap first
Country	More in EEMMore in EMXC	EEM	EMXC
China	EEM +20.8 points	20.8%	0.0%
Taiwan	EMXC +7.2 points	31.0%	38.2%
South Korea	EMXC +5.0 points	21.4%	26.4%
India	EMXC +2.8 points	12.2%	15.0%
South Africa	EMXC +1.7 points	7.1%	8.8%
Thailand	EMXC +1.3 points	0.0%	1.3%
Malaysia	EMXC +1.2 points	0.0%	1.2%
Brazil	EMXC +0.9 points	4.2%	5.1%
Other countries (2)	EMXC +0.7 points	3.2%	3.9%

Outside the US: EEM 0% developed, 100% emerging. EMXC 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EEM37.8%
EMXC42.5%

Securities held

EEM1,183
EMXC605

Asset class

EEM: Equity
EMXC: Equity

Holdings

Only in EEM580
In both603
Only in EMXC2

Only in EEM

580 securities, 19.5% of EEM by weight

Tencent Holdings2.57%
Alibaba Group Holding1.79%
China Construction Bank Corp H0.95%
Industrial and Commercial Bank of0.56%
Xiaomi0.49%
Bank of China Ltd H0.46%
Meituan0.39%
Pdd Holdings Ads0.36%
Ping An Insurance (Group) Co of Ch0.34%
Netease0.34%
Byd H0.28%
Jd.com Class A0.25%
Petrochina H0.24%
China Merchants Bank H0.22%
Agricultural Bank of China H0.21%
China Life Insurance Ltd H0.20%
Beone Medicines AG0.20%
Trip.com Group0.19%
Zijin Mining Group Ltd H0.18%
Lenovo Group0.18%
Wuxi Biologics Cayman0.18%
Baidu0.17%
China Shenhua Energy Ltd H0.16%
Kweichow Moutai A0.13%
Innovent Biologics0.13%
Yum China Holdings Inc0.13%
Picc Property and Casualty Ltd H0.12%
China Petroleum and Chemical H0.11%
Ke Holdings0.10%
Anta Sports Products Ltd0.10%
Geely Automobile Holdings Ltd0.10%
China Resources Land0.09%
Wuxi Apptec H0.08%
Kuaishou Technology0.08%
Contemporary Amperex Technology A0.08%
Nongfu Spring Ltd H0.08%
China Pacific Insurance (Group) H0.08%
H World Group Adr0.08%
China Citic Bank Corp Ltd H0.08%
Bank of Communications Ltd H0.07%
Cspc Pharmaceutical Group0.07%
Pop Mart International Group0.07%
China Hongqiao Group Ltd0.07%
China Merchants Bank A0.07%
Zto Express (Cayman) Inc0.07%
Contemporary Amperex Technology Class0.07%
Citic Ltd0.06%
Akeso Inc0.06%
China Mengniu Dairy Ltd0.06%
Li Auto Class A0.06%

Only in EMXC

2 securities, 0.0% of EMXC by weight

Axia Energia SA<0.01%
Abu Dhabi Islamic Bank Rights<0.01%

Weight gaps

The 100 widest of 603 Holdings in both funds.

Holding weights in EEM and EMXC, widest gap first
Holding	More in EEMMore in EMXC	EEM	EMXC
Taiwan Semiconductor Manufacturing	EMXC +3.91 points	15.88%	19.79%
Samsung Electronics Ltd	EMXC +1.65 points	7.06%	8.71%
Sk Hynix	EMXC +0.99 points	5.49%	6.48%
Mediatek	EMXC +0.35 points	1.56%	1.91%
Hdfc Bank	EMXC +0.21 points	0.71%	0.92%
Hon Hai Precision Industry	EMXC +0.21 points	0.81%	1.02%
Samsung Electronics Non Voting Pre	EMXC +0.20 points	0.96%	1.16%
Icici Bank	EMXC +0.19 points	0.67%	0.86%
Reliance Industries Ltd	EMXC +0.17 points	0.61%	0.78%
Ase Technology Holding	EMXC +0.15 points	0.61%	0.76%
Bharti Airtel Ltd	EMXC +0.14 points	0.51%	0.65%
Sk Square	EMXC +0.12 points	0.57%	0.69%
Delta Electronics	EMXC +0.11 points	0.77%	0.88%
Petroleo Brasileiro Pref SA	EMXC +0.11 points	0.39%	0.50%
Cia Vale Do Rio Doce Sh	EMXC +0.11 points	0.35%	0.46%
Al Rajhi Bank	EMXC +0.10 points	0.41%	0.51%
Petroleo Brasileiro SA Petrobras	EMXC +0.10 points	0.36%	0.46%
Infosys	EMXC +0.10 points	0.32%	0.42%
Saudi Arabian Oil	EMXC +0.10 points	0.36%	0.46%
Fubon Financial Holding	EMXC +0.10 points	0.36%	0.46%
Ctbc Financial Holding	EMXC +0.09 points	0.34%	0.43%
Kb Financial Group	EMXC +0.09 points	0.34%	0.43%
Nu Holdings Class ANU	EMXC +0.08 points	0.38%	0.46%
Samsung Electro Mechanics Ltd	EMXC +0.09 points	0.47%	0.56%
Nan Ya Plastics Corp	EMXC +0.08 points	0.40%	0.48%
Itau Unibanco Holding Pref SA	EMXC +0.08 points	0.35%	0.43%
Cathay Financial Holding	EMXC +0.08 points	0.30%	0.38%
United Micro Electronics Corp	EMXC +0.08 points	0.35%	0.43%
Unimicron Technology	EMXC +0.07 points	0.38%	0.45%
Grupo Mexico B	EMXC +0.07 points	0.32%	0.39%
Anglogold Ashanti PLC	EMXC +0.07 points	0.38%	0.45%
Shinhan Financial Group	EMXC +0.07 points	0.24%	0.31%
Ts Financial Holding	EMXC +0.07 points	0.26%	0.33%
Elite Material	EMXC +0.07 points	0.38%	0.45%
Asia Vital Components	EMXC +0.07 points	0.27%	0.34%
Larsen and Toubro Ltd	EMXC +0.06 points	0.24%	0.30%
Quanta Computer	EMXC +0.07 points	0.24%	0.31%
Naspers Limited Class N	EMXC +0.06 points	0.27%	0.33%
The Saudi National Bank	EMXC +0.07 points	0.24%	0.31%
Kotak Mahindra Bank Ltd	EMXC +0.06 points	0.23%	0.29%
Gpo Finance Banorte	EMXC +0.06 points	0.23%	0.29%
Samsung Sdi Ltd	EMXC +0.06 points	0.21%	0.27%
Kuwait Finance House	EMXC +0.06 points	0.24%	0.30%
Firstrand Ltd	EMXC +0.06 points	0.25%	0.31%
Otp Bank	EMXC +0.06 points	0.25%	0.31%
Bajaj Finance Ltd	EMXC +0.06 points	0.21%	0.27%
Hana Financial Group	EMXC +0.06 points	0.21%	0.27%
Mahindra and Mahindra Ltd	EMXC +0.06 points	0.23%	0.29%
Hyundai Motor	EMXC +0.06 points	0.25%	0.31%
Yuanta Financial Holding	EMXC +0.06 points	0.21%	0.27%
First Abu Dhabi Bank	EMXC +0.06 points	0.19%	0.25%
Celltrion	EMXC +0.05 points	0.19%	0.24%
Axis Bank	EMXC +0.05 points	0.26%	0.31%
E.sun Financial Holding	EMXC +0.05 points	0.20%	0.25%
Capitec Shs	EMXC +0.06 points	0.21%	0.27%
Tata Consultancy Services Ltd	EMXC +0.06 points	0.18%	0.24%
Saudi Telecom	EMXC +0.05 points	0.19%	0.24%
Fomento Economico Mexicano	EMXC +0.05 points	0.18%	0.23%
Gold Fields	EMXC +0.05 points	0.28%	0.33%
Mtn Group	EMXC +0.05 points	0.18%	0.23%
Powszechna Kasa Oszczednosci Bank	EMXC +0.05 points	0.23%	0.28%
National Bank of Kuwait	EMXC +0.05 points	0.20%	0.25%
Orlen	EMXC +0.05 points	0.19%	0.24%
Qatar National Bank	EMXC +0.05 points	0.17%	0.22%
Credicorp LtdBAP	EMXC +0.05 points	0.21%	0.26%
Mega Financial Holding Ltd	EMXC +0.04 points	0.17%	0.21%
Chunghwa Telecom Ltd	EMXC +0.05 points	0.16%	0.21%
America Movil B	EMXC +0.04 points	0.16%	0.20%
Standard Bank Group	EMXC +0.05 points	0.21%	0.26%
Global Unichip	EMXC +0.04 points	0.18%	0.22%
Eternal	EMXC +0.04 points	0.15%	0.19%
Emaar Properties	EMXC +0.04 points	0.17%	0.21%
State Bank of India	EMXC +0.05 points	0.16%	0.21%
Saudi Arabian Mining	EMXC +0.04 points	0.15%	0.19%
Accton Technology	EMXC +0.04 points	0.24%	0.28%
Samsung Biologics	EMXC +0.04 points	0.10%	0.14%
Naver	EMXC +0.04 points	0.16%	0.20%
Emirates Telecommunications Group	EMXC +0.04 points	0.17%	0.21%
Sun Pharmaceutical Industries	EMXC +0.04 points	0.15%	0.19%
Sinopac Financial Holdings	EMXC +0.04 points	0.15%	0.19%
Public Bank	EMXC +0.04 points	0.14%	0.18%
Samsung C&T Corp	EMXC +0.04 points	0.17%	0.21%
Yageo	EMXC +0.04 points	0.23%	0.27%
Kgi Financial Holding	EMXC +0.04 points	0.16%	0.20%
Titan Company Ltd	EMXC +0.04 points	0.14%	0.18%
Doosan Enerbility Ltd	EMXC +0.03 points	0.17%	0.20%
Asustek Computer Inc	EMXC +0.04 points	0.17%	0.21%
Wistron	EMXC +0.04 points	0.16%	0.20%
First Financial Holding Ltd	EMXC +0.04 points	0.13%	0.17%
Cemex Cpo	EMXC +0.04 points	0.14%	0.18%
Samsung Fire & Marine Insurance Lt	EMXC +0.04 points	0.12%	0.16%
Ntpc Ltd	EMXC +0.04 points	0.12%	0.16%
Jentech Precision Industrial Ltd	EMXC +0.04 points	0.15%	0.19%
Woori Financial Group Inc	EMXC +0.04 points	0.13%	0.17%
Samsung Life Ltd	EMXC +0.04 points	0.14%	0.18%
Hindustan Unilever Ltd	EMXC +0.03 points	0.12%	0.15%
King Slide Works	EMXC +0.04 points	0.15%	0.19%
Nanya Technology Corp	EMXC +0.03 points	0.17%	0.20%
Hua Nan Financial Holdings	EMXC +0.04 points	0.12%	0.16%
Hcl Technologies Ltd	EMXC +0.04 points	0.11%	0.15%

All 1,184 EEM holdings⁠All 607 EMXC holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EEM vs EMXC Cost

Overpaying EEM vs EMXC

$8,798

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EEM 0.72%
$13,957
EMXC 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

EEM 0.72%
EMXC 0.25%
Overpaying

Year by year

Year	EEM	EMXC	Overpaying
10	$1,284	$455	$829
20	$4,888	$1,769	$3,119
30	$13,957	$5,159	$8,798

Expense ratio

0.72%EEM
0.25%EMXC, cheaper

EMXC0.25%EEM0.72%

0.09%1.51%

Middle half of MSCI Emerging Markets Core funds
Median 0.66%

EMXC 2nd cheapest of 5 funds

EEM 4th cheapest of 5 funds

EEM vs EMXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EEM 1.83%; EMXC 2.14%, better
Payout (12M): EEM $1.11; EMXC $1.92
Last payment: EEM $0.35; EMXC $0.59
Ex-dividend: EEM Jun 15, 2026; EMXC Jun 15, 2026
Paid on: EEM Jun 18, 2026; EMXC Jun 18, 2026
Frequency: EEM Twice a year; EMXC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EEMTwice a year · 20 paymentsAll EEM payments⁠

EMXCTwice a year · 19 paymentsAll EMXC payments⁠

EEM vs EMXC Risk

Fall from peak · 5 years

EEM
EMXC

Risk facts

VolatilityStd dev, 3 years: EEM 16.1%, betterEMXC 20.0%
Return per unit of riskSharpe ratio, 3 years: EEM 1.01EMXC 1.04, better
Worst fallMax drawdown, 5 years: EEM −33.2%EMXC −28.9%, better
Market sensitivityBeta, 5 years: EEM 1.03EMXC 1.19; Market = 1

EEM and EMXC in the news

All news⁠

Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026EEM
Top Movers
Brazil funds fall as much as 31.6% after Lula wins the runoff
Oct 26, 2026EEM
Top Movers
Korea funds rose 4% Monday, well ahead of Seoul
Oct 19, 2026EEM
Top Movers
Brazil funds held their election gain through Friday
Oct 9, 2026EEM
New ETFs
BlackRock lists an active emerging-markets ETF 19 days after Goldman
Oct 5, 2026EEM
First-Year Review
Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks
Oct 2, 2026EMXC

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EEM vs EMXC

In short

Stated mandate

Why people hold it