A multi-stage aqueous emulsion polymer including a first polymer having a calculated Hansch parameter >2.0, the first polymer including 0.5-5 wt. % copolymerized acid monomer, based on the weight of the first polymer, and a second polymer including from zero to less that half the wt. % of acid monomer in the first polymer, based on the weight of the second polymer, the second polymer being from 50% to 85% of the total weight of the first polymer and the second polymer, wherein the difference between the calculated Tgs of the first and the second polymer is from 0.degree. C. to less than 20.degree. C. is provided. Also provided is an aqueous coating composition including the multi-stage emulsion polymer and a method for providing a coating.