Skip to content
etf.net

EMM vs PEMX

Global X Emerging Markets ex-China ETF

EMMCNYSE Arca

Putnam Emerging Markets Ex-China ETF

PEMXCNYSE Arca

Overlap

Expense ratio

EMM −0.04pt a year

EMM0.66%PEMX0.70%

Avg volume · 30D

EMM 4.8×the volume

EMM6.78KPEMX1.41K

3Y return · a year

PEMX +9.7pt

EMM+20.4%PEMX+30.1%

EMM vs PEMX Performance

Oct 31, 2025 – Oct 30, 2026

+21.0%EMM+23.2%PEMX

Oct 31, 2025 to Oct 30, 2026. EMM +21.0%. PEMX +23.2%. Use the arrow keys to read each point.0%10%30%40%50%Oct 2025Apr 2026Oct 2026
Expense ratio
EMM 0.66%, better
PEMX 0.70%
Fund size
EMM $54M
PEMX $30M
1Y total return
EMM +21.0%
PEMX +23.2%, better
Yield (12M)
EMM 0.82%
PEMX 5.83%, better
Holdings
EMM 48
PEMX 55
Avg volume (30D)
EMM 6.78K sh, better
PEMX 1.41K sh
NAV per share
EMM $40.48
PEMX $78.33
52W range

ETF.net Grade

EMM: Cost 68, Risk 43, Mission 100, Tradability 45, Holdings 26, Durability 77. PEMX: Cost 58, Risk 52, Mission 100, Tradability 19, Holdings 43, Durability 63.
Pillar letters and Scores for EMM, PEMX, with each pillar’s weight
PillarEMMPEMX
Cost30% weightB68HigherB58
Mission25% weightA100A100
Risk15% weightC43C52Higher
Tradability15% weightC45HigherF19
Holdings10% weightD26C43Higher
Durability5% weightA77HigherB63

Rank among Emerging Markets Active Growth funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EMM and PEMX are both graded against the same 9 Emerging Markets Active Growth funds, so their Grades compare head to head.

Emerging Markets Active Growth⁠

Category · 9 funds
See all 9 ›

EMM ranks 3rd and PEMX 4th of 9 funds in the Emerging Markets Active Growth Category.

  1. Rank 1ACGNGCapital Group New Geography Equity ETFScore 77
  2. Rank 2AFFEMFidelity Fundamental Emerging Markets ETFScore 74
  3. Rank 3CEMMGlobal X Emerging Markets ex-China ETFScore 53
  4. Rank 4CPEMXPutnam Emerging Markets Ex-China ETFScore 47
  5. Rank 5CBCEMBaron Emerging Markets Select ETFScore 41

Our read on each fund

ETF.net Research

EMMCGlobal X Emerging Markets ex-China ETF

PEMXCPutnam Emerging Markets Ex-China ETF

In short

EMM Emerging markets with China cut out and no index to hide behind. Global X hands part of the stock picking to Mirae Asset's Hong Kong team, which runs a roughly 40-name book of would-be market leaders at a price below the active ex-China competition.

PEMX China swamps most emerging-market funds. PEMX cuts it out entirely and runs an active, roughly 60-stock book across the rest of the developing world, priced well below the typical active EM manager.

Stated mandate

EMM The fund seeks long-term capital growth by actively selecting emerging-market companies outside China that may achieve or maintain dominant positions in their markets, with emphasis on early winners in growing industries.

PEMX The fund seeks long-term capital appreciation. It invests primarily in emerging-market common stocks outside China and Hong Kong, using active fundamental research to identify companies with favorable investment potential.

Why people hold it

  • EMM 0.66% expense ratio undercuts the active ex-China field, including PEMX at 0.70% and WCME at 0.95%.
  • Part of the stock picking sits with Mirae Asset Global Investments (Hong Kong), an Asia-based sub-adviser hunting early winners in growing industries.globalxetfs.com
  • Portfolio matches the label: roughly 40 emerging-market names, China excluded, picked for dominant positions in their markets rather than index weight.globalxetfs.com
  • Trading since 2010, with a real record behind it, and one of the stronger implementations among active ex-China peers.
  • PEMX 0.70% a year against a 0.95% median for its active peer group. Cheap freight for a stock-picking mandate.
  • About 60 names, not 600. Concentrated enough that the managers' calls actually show up in the portfolio.
  • Does what the label says: an ex-China portfolio measured against the MSCI Emerging Markets ex-China Index, with no China drift in the holdings.franklintempleton.com
  • Trading since 2023 under Franklin Templeton, and it sits in the upper half of the small group of active EM ex-China funds we track.

Worth knowing

  • EMM A smaller fund that trades lightly. Wider spreads come with the territory, and order type matters more here than in a giant EM index fund.
  • Roughly 40 active picks means results can drift well away from broad EM benchmarks, in either direction, and single names carry real weight.
  • Built for growth, not income: distributions land once or twice a year, and China's market is off the menu by design.
  • PEMX Not the cheapest door into ex-China: Global X's EMM charges 0.66%.
  • Small and thinly traded. Spreads can widen, so limit orders do the heavy lifting.
  • Zero China by design, so results diverge from a broad EM fund and any China sleeve has to come from somewhere else.franklintempleton.com

Full EMM profile⁠

Full PEMX profile⁠

EMM vs PEMX Holdings

As of
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.

EMM vs PEMX Cost

Overpaying PEMX vs EMM

$710

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

  • EMM 0.66%

    $12,896

  • PEMX 0.70%

    $13,606

$10,000
30 years

Cost over time

  • EMM 0.66%
  • PEMX 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PEMX $13,606EMM $12,896

Year by year

YearEMMPEMXOverpaying
10$1,180$1,250$70
20$4,504$4,760$256
30$12,896$13,606$710

Expense ratio

  • 0.66%EMM, cheaper
  • 0.70%PEMX
  • Middle half of Emerging Markets Active Growth funds
  • Median 0.79%

EMM 3rd cheapest of 9 funds

PEMX 4th cheapest of 9 funds

EMM vs PEMX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EMM 0.82%
PEMX 5.83%, better
Payout (12M)
EMM $0.33
PEMX $4.50
Last payment
EMM $0.12
PEMX $4.50
Ex-dividend
EMM Jun 29, 2026
PEMX Dec 19, 2025
Paid on
EMM Jul 7, 2026
PEMX Dec 23, 2025
Frequency
EMM Twice a year
PEMX Annual

Distribution history

Per share, 2023 to 2026, same scale for both

EMMTwice a year · 6 paymentsAll EMM payments⁠
One bar per payment. 6 payments from 2023 to 2026 YTD. Dec 28, 2023 $0.17; Jun 27, 2024 $0.08; Dec 30, 2024 $0.13; Jun 27, 2025 $0.11; Dec 30, 2025 $0.20; Jun 29, 2026 $0.12. Use the arrow keys to read each point.$0$520232026YTD
PEMXAnnual · 3 paymentsAll PEMX payments⁠
One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.33; Dec 27, 2024 $2.57; Dec 19, 2025 $4.50. Use the arrow keys to read each point.$0$520232026YTD

EMM vs PEMX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
EMM 19.9%PEMX 19.8%, better
Return per unit of riskSharpe ratio, 3 years
EMM 0.81PEMX 1.21, better
Worst fallMax drawdown, 5 years
EMM −22.0%since May 2023PEMX −19.0%since May 2023
Market sensitivityBeta, 5 years
EMM 1.18PEMX 1.18Same figure. Both funds show the same value, so neither comes out ahead.

Popular comparisons

  • EMMCvsCGNGA

    Global X Emerging Markets ex-China ETF · Capital Group New Geography Equity ETF

    Expense ratio
    0.66% · 0.64%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsCGNGA

    Putnam Emerging Markets Ex-China ETF · Capital Group New Geography Equity ETF

    Expense ratio
    0.70% · 0.64%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EMMCvsFFEMA

    Global X Emerging Markets ex-China ETF · Fidelity Fundamental Emerging Markets ETF

    Expense ratio
    0.66% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsFFEMA

    Putnam Emerging Markets Ex-China ETF · Fidelity Fundamental Emerging Markets ETF

    Expense ratio
    0.70% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • EMMCvsBCEMC

    Global X Emerging Markets ex-China ETF · Baron Emerging Markets Select ETF

    Expense ratio
    0.66% · 0.80%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsBCEMC

    Putnam Emerging Markets Ex-China ETF · Baron Emerging Markets Select ETF

    Expense ratio
    0.70% · 0.80%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.