XC vs XCEM: Grades, Fees and Holdings Compared

WisdomTree True Emerging Markets Fund

XCBNYSE Arca

Columbia EM Core ex-China ETF

XCEMANYSE Arca

Overlap

15.7%by weight

Expense ratio

XCEM −0.16pt a year

XC0.32%XCEM0.16%

Avg volume · 30D

XCEM 12.6×the volume

XC12.9KXCEM162K

3Y return · a year

XCEM +13.2pt

XC+10.6%XCEM+23.8%

XC vs XCEM Performance

Oct 31, 2025 – Oct 30, 2026

−5.0%XC+24.3%XCEM

Expense ratio: XC 0.32%; XCEM 0.16%, better
Fund size: XC $72M; XCEM $2.01B
1Y total return: XC −5.0%; XCEM +24.3%, better
Yield (12M): XC 12.88%, better; XCEM 2.68%
Holdings: XC 549; XCEM 465
Avg volume (30D): XC 12.9K sh; XCEM 162K sh, better
NAV per share: XC $29.80; XCEM $46.99
52W range

ETF.net Grade

Pillar letters and Scores for XC, XCEM, with each pillar’s weight
Pillar	XC	XCEM
Cost30% weight	A71	A90Higher
Mission25% weight	A73	A100Higher
Risk15% weight	C52Higher	C51
Tradability15% weight	C46	B62Higher
Holdings10% weight	A73Higher	B60
Durability5% weight	D30	A78Higher

Rank among Emerging Markets Stocks funds

How we build Categories ›

Same Category. XC and XCEM are both graded against the same 20 Emerging Markets Stocks funds, so their Grades compare head to head.

Emerging Markets Stocks⁠

Category · 20 funds

See all 20 ›

XCEM ranks 2nd and XC 9th of 20 funds in the Emerging Markets Stocks Category.

Rank 1AVEXCVanguard Emerging Markets Ex-China ETFScore 82
Rank 2AXCEMColumbia EM Core ex-China ETFScore 78
Rank 3ABKEMBNY Mellon Emerging Markets Equity ETFScore 76
Rank 9BGSEEGoldman Sachs MarketBeta Emerging Markets Equity ETFScore 63
Rank 9BXCWisdomTree True Emerging Markets FundScore 63
Rank 11BEEMSiShares MSCI Emerging Markets Small-Cap ETFScore 62

Our read on each fund

ETF.net Research

XCBWisdomTree True Emerging Markets Fund

XCEMAColumbia EM Core ex-China ETF

In short

XC Most ex-China EM funds still lean hard on Korea and Taiwan. XC cuts all three, then screens out companies with 20% or more government ownership. Emerging markets at its most literal, roughly 800 names deep.

XCEM The original ex-China emerging markets fund. Columbia launched XCEM in 2015, back when carving China out of an EM sleeve was a fringe idea rather than a crowded shelf. Roughly 150 EM stocks, no China, 0.16% a year.

Stated mandate

XC The Fund seeks to track, before fees and expenses, the price and yield performance of the WisdomTree True Emerging Markets Index.

XCEM The fund seeks investment results that correspond to the performance of the EGAI Emerging Markets ex-China Index before fees and expenses. It generally invests at least 80% of net assets in index companies and seeks to replicate the index.

Why people hold it

XC Two screens stacked: China, Korea and Taiwan are out, and so is any company with 20% or more government ownership. An unusual pairing in the ex-China aisle.wisdomtree.com
Fee is 0.32% a year, below the median for the emerging-markets funds we grade, and the same sticker as WisdomTree's China-inclusive sibling XSOE.
Roughly 800 holdings spread the exposure instead of resting on a few mega-caps, part of why it lands in the upper half of its EM peer group. Pays quarterly.

XCEM Launched in 2015 as the first broad emerging markets ETF built to leave China out, and it has since grown into a billion-dollar-plus fund.morningstar.com
0.16% a year, well under the typical fund in its emerging markets cohort, for a portfolio of about 150 stocks.
Plain mandate, closely followed: at least 80% of net assets in index companies, replicated rather than approximated, with tracking that has stayed tight.
One of the strongest implementations in its emerging markets peer group, and liquid enough that getting in and out is rarely the hard part.

Worth knowing

XC The mandate widened in July 2025; before that it was the ex-China fund, so earlier results reflect a different index. The fund itself dates to 2022.wisdomtree.com
Thinly traded, so bid-ask spreads and order type matter more here than with the category's giants.
Cheaper doors into ex-China EM exist, including VEXC at 0.07% and XCEM at 0.16%, though neither applies WisdomTree's proprietary state-ownership screen.wisdomtree.com

XCEM No China means no Tencent, no Alibaba, no A-shares. If that exposure belongs in the portfolio, it has to come from somewhere else.
Emerging market stocks swing hard and currency moves add to the ride. This is one of the higher-volatility corners of equity investing.
Cheap, not cheapest: VEXC runs the same ex-China EM idea at 0.07%. XCEM's edge is a decade of history, not the lowest fee on the shelf.

Full XC profile⁠

Full XCEM profile⁠

XC vs XCEM Holdings

How XC and XCEM differ

Overlap by weight

15.7%

Shared holdings make up 43.8% of XC and 16.2% of XCEM.

Level by level

Holdings134 in both15.7%
Countryby domicile32.8%
Sector11 Sectors52.8%
Asset classEquity100%

Sector

Sector weights in XC and XCEM, widest gap first
Sector	More in XCMore in XCEM	XC	XCEM
Technology	XCEM +47.2 points	4.7%	51.9%
Financials	XC +12.8 points	30.1%	17.3%
Consumer Discretionary	XC +8.2 points	12.5%	4.3%
Consumer Staples	XC +7.1 points	8.8%	1.7%
Materials	XC +6.0 points	11.3%	5.3%
Communication	XC +2.6 points	5.3%	2.7%
Real Estate	XC +2.5 points	3.3%	0.8%
Health Care	XC +2.3 points	4.7%	2.4%
Industrials	XC +2.0 points	11.0%	9.0%
Energy	XC +2.0 points	5.1%	3.1%
Utilities	XC +1.5 points	3.1%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in XC and XCEM, widest gap first
Country	More in XCMore in XCEM	XC	XCEM
Taiwan	XCEM +40.1 points	0.0%	40.1%
South Korea	XCEM +25.3 points	0.0%	25.3%
India	XC +23.3 points	38.8%	15.5%
South Africa	XC +10.1 points	14.7%	4.6%
Mexico	XC +9.2 points	11.4%	2.2%
Brazil	XC +7.6 points	11.3%	3.7%
Thailand	XC +3.6 points	5.4%	1.8%
Poland	XC +2.6 points	4.3%	1.7%
Other countries (13)	XC +9.1 points	14.1%	5.0%

Outside the US: XC 0% developed, 100% emerging. XCEM 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

XC18.5%
XCEM35.3%

Securities held

XC533
XCEM452

Asset class

XC: Equity
XCEM: Equity

Holdings

Only in XC399
In both134
Only in XCEM318

Only in XC

399 securities, 57.6% of XC by weight

MercadoLibre Inc3.27%
Al Rajhi Bank2.20%
Hdfc Bank Limited1.99%
ICICI Bank Ltd1.76%
Kuwaiti Dinar1.41%
Vingroup Jsc1.04%
America Movil Sab De Cv0.95%
Infosys Ltd0.90%
Credicorp Ltd0.89%
Bank Central Asia Tbk PT0.80%
Southern Copper Corp0.76%
Larsen & Toubro Ltd0.69%
Mahindra & Mahindra Ltd0.66%
Allegro.Eu Sa0.63%
Gulf Development Pcl-Nvdr0.60%
Tata Consultancy Services Ltd0.53%
Advanced Info Service PCL - NVDR0.49%
Shoprite Holdings Ltd0.45%
SACI Falabella0.42%
Zomato Ltd0.42%
Discovery Ltd0.42%
Hindustan Unilever Ltd0.41%
Alinma Bank0.39%
Cia de Saneamento Basico do Es0.39%
Santander Bank Polska SA0.38%
Tata Motors Ltd /New0.38%
Abu Dhabi Islamic Bank0.37%
UltraTech Cement Ltd0.35%
Nedbank Group Ltd0.35%
Sanlam Ltd0.35%
MOL Hungarian Oil & Gas PLC0.34%
HCL Technologies Ltd0.34%
Grupo Cibest Sa0.32%
Vista Energy Sab De Cv0.31%
Suzano SA0.28%
Remgro Ltd0.28%
Banco de Credito e Inversiones0.28%
Grasim Industries Ltd0.27%
True Corp Pcl/New-NVDR0.27%
Sar0.27%
Dr Sulaiman Al Habib Medical0.26%
Richter Gedeon Nyrt0.26%
MBank SA0.25%
InterGlobe Aviation Ltd0.25%
Nepi Rockcastle N.V.0.25%
Tech Mahindra Ltd0.25%
Grupo Bimbo SAB de CV0.24%
Equatorial Energia SA0.22%
Banco Santander Chile0.22%
Vinhomes Jsc0.22%

Only in XCEM

318 securities, 83.1% of XCEM by weight

Taiwan Semiconductor Manufacturing Co Ltd15.90%
Samsung Electronics Co Ltd8.48%
Sk Hynix Inc3.31%
Mediatek Inc1.78%
Hon Hai Precision Industry Co Ltd1.11%
Ase Technology Holding Co Ltd1.05%
Delta Electronics Inc1.00%
Icici Bank Ltd0.93%
International Holding Co Pjsc0.92%
Hdfc Bank Ltd0.83%
Vaneck Semiconductor Etf0.73%
Ishares Semiconductor Etf0.69%
Samsung Electro-Mechanics Co Ltd0.68%
Sk Square Co Ltd0.68%
Al Rajhi Bank0.63%
Powszechna Kasa Oszczednosci Bank Polski SA0.63%
Kb Financial Group Inc0.60%
Elite Material Co Ltd0.60%
Ctbc Financial Holding Co Ltd0.56%
Nan Ya Plastics Corp0.55%
Petroleo Brasileiro SA - Petrobras0.51%
United Microelectronics Corp0.51%
Asia Vital Components Co Ltd0.51%
Shinhan Financial Group Co Ltd0.50%
Itau Unibanco Holding SA0.48%
Unimicron Technology Corp0.47%
Chroma Ate Inc0.45%
Saudi Arabian Oil Co0.45%
Hana Financial Group Inc0.45%
Novatek Microelectronics Corp0.44%
Tenaga Nasional Bhd0.42%
Samsung Sdi Co Ltd0.41%
Naspers Ltd0.40%
Hyundai Motor Co0.40%
Vale SA0.39%
Powszechny Zaklad Ubezpieczen SA0.39%
Gold Fields Ltd0.38%
Larsen & Toubro Ltd0.37%
Itausa SA0.37%
Cathay Financial Holding Co Ltd0.36%
Banco Btg Pactual SA0.36%
Celltrion Inc0.35%
Fubon Financial Holding Co Ltd0.35%
First Abu Dhabi Bank Pjsc0.34%
Quanta Computer Inc0.34%
Accton Technology Corp0.33%
Ihh Healthcare Bhd0.33%
State Bank of India0.33%
Mahindra & Mahindra Ltd0.33%
Global Unichip Corp0.33%

Weight gaps

The 100 widest of 134 Holdings in both funds.

Holding weights in XC and XCEM, widest gap first
Holding	More in XCMore in XCEM	XC	XCEM
Reliance Industries Ltd	XC +1.18 points	1.97%	0.79%
National Bank of Kuwait	XC +1.07 points	1.19%	0.12%
Grupo Mexico SAB de CV	XC +0.99 points	1.60%	0.61%
OTP Bank PLC	XC +0.98 points	1.43%	0.45%
Delta Electronics Thailand PCL - NVDR	XC +0.95 points	1.38%	0.43%
Grupo Financiero Banorte-O	XC +0.95 points	1.21%	0.26%
FirstRand Ltd	XC +0.92 points	1.35%	0.43%
Bharti Airtel Ltd	XC +0.91 points	1.47%	0.56%
Standard Bank Group Ltd	XC +0.83 points	1.02%	0.19%
Capitec Bank Holdings Ltd	XC +0.82 points	1.10%	0.28%
MTN Group Ltd	XC +0.68 points	0.94%	0.26%
Fomento Economico Mexicano SAB	XC +0.68 points	0.92%	0.24%
Cemex SAB de CV	XC +0.57 points	0.69%	0.12%
Wal-Mart de Mexico SAB de CV	XC +0.49 points	0.59%	0.10%
Bank Pekao SA	XC +0.46 points	0.55%	0.09%
Grupo Aeroportuario del Pacific	XC +0.43 points	0.52%	0.09%
Weg SA	XC +0.43 points	0.62%	0.19%
International Container Term SerICTEF	XC +0.43 points	0.52%	0.09%
Bajaj Finance Ltd	XC +0.40 points	0.67%	0.27%
ABSA Group Ltd	XC +0.39 points	0.46%	0.07%
Prio SA	XC +0.37 points	0.43%	0.06%
Banco de Chile	XC +0.36 points	0.42%	0.06%
Axis Bank Ltd	XC +0.34 points	0.67%	0.33%
Qatar Islamic Bank	XC +0.35 points	0.45%	0.10%
Press Metal Aluminium Holdings	XC +0.33 points	0.36%	0.03%
Kotak Mahindra Bank Ltd	XC +0.32 points	0.59%	0.27%
Impala Platinum Holdings Ltd	XC +0.31 points	0.42%	0.11%
Sun Pharmaceutical Industries	XC +0.30 points	0.52%	0.22%
Embraer Sa	XC +0.30 points	0.60%	0.30%
Kasikornbank PCL - NVDR	XC +0.29 points	0.39%	0.10%
Ambev S.A.	XC +0.29 points	0.45%	0.16%
Lpp SA	XC +0.28 points	0.38%	0.10%
B3 Sa-Brasil Bolsa Balcao	XC +0.28 points	0.46%	0.18%
Maruti Suzuki India Ltd	XC +0.26 points	0.40%	0.14%
Harmony Gold Mining Co Ltd	XC +0.24 points	0.38%	0.14%
Latam Airlines Group SA	XC +0.23 points	0.35%	0.12%
Industrias Penoles SAB de CV	XC +0.22 points	0.35%	0.13%
Bid Corp Ltd	XC +0.22 points	0.42%	0.20%
CP All PCL-NVDR	XC +0.21 points	0.26%	0.05%
Waaree Energies Ltd	XCEM +0.21 points	0.06%	0.27%
Tata Steel Ltd	XC +0.20 points	0.39%	0.19%
Bank AlBilad	XC +0.21 points	0.21%	<0.01%
Grupo Carso SAB de CV	XC +0.20 points	0.20%	<0.01%
Hindalco Industries Ltd	XC +0.20 points	0.35%	0.16%
Grupo Aeroportuario del Surest	XC +0.19 points	0.20%	<0.01%
JSW Steel Ltd	XC +0.20 points	0.34%	0.14%
BIM Birlesik Magazalar AS	XC +0.19 points	0.29%	0.10%
Etihad Etisalat Co	XC +0.18 points	0.27%	0.09%
Sibanye Stillwater Ltd	XC +0.18 points	0.27%	0.09%
Adani Enterprises Ltd	XC +0.18 points	0.28%	0.10%
Eicher Motors Ltd	XC +0.17 points	0.27%	0.10%
Rede D'Or Sao Luiz Sa	XC +0.18 points	0.24%	0.06%
Tupras Turkiye Petrol Rafine	XC +0.17 points	0.31%	0.14%
Tata Consumer Products Ltd	XC +0.17 points	0.17%	<0.01%
Astra International Tbk PT	XC +0.17 points	0.27%	0.10%
Asian Paints Ltd	XC +0.16 points	0.27%	0.11%
Shriram Finance Ltd	XC +0.17 points	0.31%	0.14%
Coca-Cola Femsa S.A.B. de CV	XC +0.16 points	0.26%	0.10%
Prologis Property Mexico SA de	XC +0.16 points	0.22%	0.06%
Amman Mineral Internasional	XC +0.16 points	0.20%	0.04%
Arca Continental SAB de CV	XC +0.15 points	0.26%	0.11%
Localiza Rent A CAR	XC +0.15 points	0.15%	<0.01%
Divi's Laboratories Ltd	XC +0.15 points	0.35%	0.20%
CD Projekt SA	XC +0.15 points	0.20%	0.05%
Vibra Energia Sa	XC +0.14 points	0.23%	0.09%
Fibra Uno Administracion SA de	XC +0.14 points	0.23%	0.09%
Torrent Pharmaceuticals Ltd	XC +0.13 points	0.19%	0.06%
Grupo Aeroportuario del Centro	XC +0.13 points	0.18%	0.05%
Indusind Bank Ltd	XC +0.12 points	0.12%	<0.01%
Hero Motocorp Ltd	XC +0.12 points	0.17%	0.05%
Akbank TAS	XC +0.11 points	0.15%	0.04%
Nestle India Ltd	XC +0.11 points	0.22%	0.11%
TVS Motor Co Ltd	XC +0.12 points	0.26%	0.14%
Qatar Gas Transport Co Nakilat	XC +0.11 points	0.14%	0.03%
Raia Drogasil SA	XC +0.11 points	0.15%	0.04%
Titan Co Ltd	XC +0.10 points	0.45%	0.35%
Adani Power Ltd	XC +0.10 points	0.24%	0.14%
Bajaj Auto Ltd	XC +0.10 points	0.18%	0.08%
Apollo Hospitals Enterprise Ltd	XC +0.10 points	0.25%	0.15%
Bangkok Bank PCL - NVDR	XC +0.09 points	0.15%	0.06%
Wipro Ltd	XCEM +0.09 points	0.12%	0.21%
Cencosud SA	XC +0.09 points	0.09%	<0.01%
Mr Price Group Ltd	XC +0.09 points	0.12%	0.03%
Mphasis Ltd	XCEM +0.08 points	0.08%	0.16%
Tata Power Co Ltd	XC +0.08 points	0.15%	0.07%
Boubyan Bank KSCP	XC +0.08 points	0.18%	0.10%
Biocon Ltd	XC +0.08 points	0.08%	<0.01%
Makkah Construction & Devepl	XC +0.08 points	0.08%	<0.01%
Haci Omer Sabanci Holding AS	XC +0.08 points	0.08%	<0.01%
Cholamandalam Investment & Finance Ltd	XC +0.07 points	0.18%	0.11%
Totvs SA	XC +0.07 points	0.11%	0.04%
Adani Ports and Special Economic Zone	XC +0.07 points	0.37%	0.30%
Bumi Resources Minerals Tbk	XC +0.07 points	0.09%	0.02%
Adani Energy Solutions Ltd	XC +0.07 points	0.11%	0.04%
Tube Investments of India Ltd	XC +0.07 points	0.07%	<0.01%
Asseco Poland SA	XC +0.06 points	0.15%	0.09%
Dar Al Arkan Real Estate Dev	XC +0.07 points	0.12%	0.05%
Empresas COPEC SA	XC +0.06 points	0.11%	0.05%
Lojas Renner SA	XC +0.06 points	0.06%	0.00%
Barito Pacific Tbk Pt	XC +0.06 points	0.09%	0.03%

All 757 XC holdings⁠All XCEM 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.

XC vs XCEM Cost

Overpaying XC vs XCEM

$3,200

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

XC 0.32%
$6,542
XCEM 0.16%
$3,342

Amount$10,000

Years30 years

Cost over time

XC 0.32%
XCEM 0.16%
Overpaying

Year by year

Year	XC	XCEM	Overpaying
10	$580	$292	$288
20	$2,250	$1,141	$1,109
30	$6,542	$3,342	$3,200

Expense ratio

0.32%XC
0.16%XCEM, cheaper

XCEM0.16%XC0.32%

0.07%0.91%

Middle half of Emerging Markets Stocks funds
Median 0.45%

XCEM 3rd cheapest of 20 funds

XC 6th cheapest of 20 funds

XC vs XCEM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): XC 12.88%, better; XCEM 2.68%
Payout (12M): XC $3.84; XCEM $1.25
Last payment: XC $0.12; XCEM $1.25
Ex-dividend: XC Sep 25, 2026; XCEM Dec 18, 2025
Paid on: XC Sep 29, 2026; XCEM Dec 26, 2025
Frequency: XC Quarterly; XCEM Annual

Distribution history

Per share, 2017 to 2026, same scale for both

XCQuarterly · 16 paymentsAll XC payments⁠

XCEMAnnual · 9 paymentsAll XCEM payments⁠

XC vs XCEM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: XC 12.6%, betterXCEM 20.0%
Return per unit of riskSharpe ratio, 3 years: XC 0.51XCEM 0.95, better
Worst fallMax drawdown, 5 years: XC −21.2%since Sep 2022XCEM −29.5%
Market sensitivityBeta, 5 years: XC 0.81XCEM 1.27; Market = 1

XC and XCEM in the news

All news⁠

Deep Dive
Korea funds gained 94% this year. China internet funds lost 28%
Sep 13, 2026XCEM
Deep Dive
Two $160 billion EM funds are 11 percentage points apart. Korea is why
Sep 5, 2026XCEM

Popular comparisons

XCBvsVEXCA
WisdomTree True Emerging Markets Fund · Vanguard Emerging Markets Ex-China ETF
Expense ratio
0.32% · 0.07%
Category
XCEMAvsVEXCA
Columbia EM Core ex-China ETF · Vanguard Emerging Markets Ex-China ETF
Expense ratio
0.16% · 0.07%
Category
XCBvsBKEMA
WisdomTree True Emerging Markets Fund · BNY Mellon Emerging Markets Equity ETF
Expense ratio
0.32% · 0.11%
Category
XCEMAvsBKEMA
Columbia EM Core ex-China ETF · BNY Mellon Emerging Markets Equity ETF
Expense ratio
0.16% · 0.11%
Category
XCBvsXSOEA
WisdomTree True Emerging Markets Fund · WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
Expense ratio
0.32% · 0.32%
Category
XCEMAvsXSOEA
Columbia EM Core ex-China ETF · WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
Expense ratio
0.16% · 0.32%
Category

XC vs XCEM

In short

Stated mandate

Why people hold it

Worth knowing

How XC and XCEM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in XC

Only in XCEM

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Korea funds gained 94% this year. China internet funds lost 28%

Two $160 billion EM funds are 11 percentage points apart. Korea is why

How XC and XCEM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in XC

Only in XCEM

Weight gaps