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on March 13 2023 BlackRock announced an investment strategy update for its eye shares core msci Emerging Markets IMI index ETF with ticker symbol xcc prior to these changes xcc gained its Equity exposure by investing in its U.S based counterpart the ishares core msci Emerging Markets ETF iemg going forward xcc will invest primarily in thousands of individual emerging market stocks this should be welcome news to xcc unit holders as these changes should docHubly reduce the negative effect of foreign withholding taxes on the fund until now xcc was subject to two layers of withholding taxes when held in an rrsp Lira rif LIF or similar account type well iemg was only subject to one layer now foreign dividends paid from the Emerging Markets countries to xcc will bypass the US and head directly to Canada thats one last layer of form withholding taxes for xcc at least on that count xcc and iemg are now on a Level Playing Field as long as youre holding them in the account types just men