Global X Emerging Markets Ex-China ETF Q1 2026 Commentary
2026-05-01·via All Articles on Seeking Alpha
Summary
Emerging Market ex-China equities (measured by the MSCI Emerging Markets ex-China Index (Net)) climbed 3.16% in the first quarter, compared to a 4.35% decline in the S&P 500.
Despite Middle East-led geopolitical volatility, EM ex-China assets proved resilient, supported by their diversified composition and allocators’ search for value.
In our experience, three factors tend to drive performance across emerging markets ex-China: the U.S. dollar, U.S. interest rates, and global liquidity conditions.
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Emerging Market (“EM”) ex-China equities delivered positive returns over a volatile quarter, supported by commodity strength and relatively attractive valuations.
Market Review
Emerging Market ex-China equities (measured by the MSCI Emerging Markets ex-China Index (Net) (“the benchmark”)) climbed 3.16% in
