iShares MSCI Emerging Markets ex China ETF
Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among Emerging markets equity funds would cost $252 (0.50% a year), so EMXC is $110 cheaper.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at 2 Sept 2026 · 1 securities · top 10 = 99.9%
Country
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.2 | 6.5 | −11.3 | 13.2 | 14.4 | 4.4 | −9.8 | 2.6 | 4.5 | −9.1 | 19.2YTD | ||
| 2025 | −0.8 | −1.8 | −0.8 | 1.6 | 5.3 | 6.7 | 0.5 | −0.6 | 4.0 | 9.1 | −2.7 | 2.5 | 24.7 |
| 2024 | 5.2 | −2.3 | 1.6 | −0.1 | −3.0 | 4.0 | 5.1 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
EMXC questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is iShares MSCI Emerging Markets ex China ETF?
iShares MSCI Emerging Markets ex China ETF holds 1 securities, and its ten largest positions make up 99.9% of the fund, more concentrated than the 27.1% typical of Emerging markets equity funds. That makes it fairly concentrated.
Its country exposure is almost entirely Ireland (100.0%), based on holdings as at 2 Sept 2026.
Which ETFs does EMXC double up with most?
No other ASX fund shares more than 10% of its holdings with EMXC, but its returns move most closely with iShares MSCI Emerging Markets ETF (IEM) (correlation 0.82), Betashares Asia Technology Tigers ETF (ASIA) (correlation 0.80) and Vanguard FTSE Asia Ex-Japan Shares Index ETF (VAE) (correlation 0.80). A correlation near 1 means the two funds tend to rise and fall together, so holding both adds little diversification.
How is iShares MSCI Emerging Markets ex China ETF managed – active or passive?
iShares MSCI Emerging Markets ex China ETF is passively managed: it follows an index and holds what that index holds, rather than relying on a manager's stock picks.
Among Emerging markets equity funds, active funds charge a median 0.72% a year and index funds 0.48%.
What will I pay in fees for EMXC?
EMXC charges a management fee of 0.25% a year, about $25 for every $10,000 invested. That is cheaper than 75% of the 471 ASX ETFs we track, where the median fee is 0.44%. Among Emerging markets equity funds, the median is 0.48%.
It is the cheapest of the 9 broad Emerging markets equity funds we track.
If you would rather have a manager choose the investments, active options such as Fidelity Global Emerging Markets Active ETF (FEMX) at 0.99% and Bell Global Emerging Companies Class A Active ETF (B1SM) at 1.34% cost more.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.16% for EMXC.
Does iShares MSCI Emerging Markets ex China ETF follow a theme?
No. iShares MSCI Emerging Markets ex China ETF is a broad equity fund: it aims to cover a wide slice of its market (Emerging markets) rather than one theme or sector.
What is under the hood of EMXC?
As at 2 Sept 2026, EMXC's largest holding is Ishares Msci Em Ex-China Uci Usdhd (99.9%).
It follows an index. Most broad share indices weight companies by market size, so the largest companies take the biggest share; the exact rules for EMXC's index are in the issuer's PDS. Its top 10 weighting of 99.9% compares with 27.1% for similar funds.
How well has iShares MSCI Emerging Markets ex China ETF performed?
Based on its category, iShares MSCI Emerging Markets ex China ETF aims to grow your capital in line with the index it tracks.
To 23 Oct 2026, with distributions reinvested, it returned 21.3% over 1 year (median 7.0%; ranked 1 of 9). The medians and rankings compare it with Emerging markets equity funds. Since listing in 2024 it has returned 20.6% a year.
Tracking difference is the gap between a fund's return and its index's return. We don't hold index returns, so we can't measure it for EMXC; the issuer reports it in the monthly fact sheet. As a guide, a well-run index fund trails its index by about its fee, here 0.25% a year, and a much bigger gap is a warning sign.
Past performance is not a reliable indicator of future performance.