VWO — Vanguard Emerging Markets Stock Index Fund

VWO Price Performance — Growth of $10,000

Value of a $10,000 investment in VWO over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

VWO Drawdown

The "underwater" chart: VWO's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Vanguard Emerging Markets Stock Index Fund, trading under the ticker VWO, operates within the Emerging Markets category managed by issuer Vanguard. With assets under management totaling $163 billion, the fund represents a significant position in the sector, which ETFValuer tracks as containing 10 ETFs. This fund holds an overall rank of #162 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 65.8 out of 100. Investors can access the fund at a price of $57.74 with a low expense ratio of 0.06%, while the current dividend yield stands at 1.93%. The substantial asset size and low cost structure suggest broad investor adoption relative to the category average. These metrics collectively define the fund's profile as a large-cap, cost-efficient vehicle within the emerging markets space.

Short-term performance shows negative momentum, with the fund declining 0.84% over one day, 1.90% over one week, and 1.43% over one month. The three-month return extends this negative trend to -1.57%, indicating continued pressure in the near term. However, the six-month horizon shows a reversal to positive territory with a gain of +1.54%, followed by a year-to-date increase of +5.24%. The one-year return accelerates significantly to +16.54%, demonstrating a strong recovery over the past twelve months. This upward trajectory continues into the long term, with the three-year return reaching +52.16%. The data illustrates a clear divergence where short-term declines contrast sharply with robust multi-year gains.

The fund carries a Moderate volatility label and exhibits a beta of 0.78, suggesting it moves less than the broader market in either direction. A Sharpe ratio of 0.66 indicates the fund has generated a moderate amount of excess return per unit of risk taken. Despite the lower beta, the maximum drawdown reached -17.37%, reflecting significant downside potential during market stress periods. This combination of a beta below 1.0 and a substantial drawdown implies that while the fund may be less sensitive to market swings, it still experienced severe declines during specific downturns. The risk profile suggests a balance between reduced market correlation and the inherent volatility of emerging market equities.

AI-generated summary based on the data on this page.

VWO Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 29.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how VWO's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With VWO

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VWO's top 10 — SPEM overlaps most, holding 8 of the same companies as VWO's top 10 (25.2% of VWO's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 120.71 (as of 2026-07-24) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

VWO Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 3.44% and average daily volume is 8.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $163B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: VWO is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

VWO Performance History

How VWO Compares to Other Emerging Markets ETFs