Columbia EM Core ex-China ETF (XCEM)

The long-term outlook remains exceptionally strong, driven by a nearly 48% cumulative gain over the last nine years and a consistent upward trajectory with no recent annual declines. The business has successfully navigated geopolitical headwinds by excluding China, delivering double-digit growth in recent years and maintaining a healthy valuation relative to its performance. While the short-term chart shows some consolidation near the 50-day average, the momentum is building off a solid foundation. The dividend yield of roughly 2.6% provides a nice cushion, though it is not the primary driver of value here. The recent price action suggests the market is pausing to digest gains, but the fundamental thesis of emerging markets without Chinese exposure continues to outperform traditional benchmarks.