QEMU has some bad performance penalties, I think partially related to the generic JIT (TCG), extremely strict floating point, and full host memory isolation. ExaGear is significantly closer to native performance but I think only supports emulating 32-bit x86.
Native virtualization dodges a lot of that performance penalty by using the hardware features directly where possible. But that's only really feasible on systems that have nearly identical hardware; x86 is pretty standardized at this point and virtualizes quite well. ARM is much more varied and harder to virtualize, even on other ARM platforms due to differing feature sets.
Here's running aarch64 binaries on x86_64 transparently: https://rwmj.wordpress.com/2013/12/22/how-to-run-aarch64-bin...