VWOB — Vanguard Emerging Markets Government Bond Index Fund

VWOB Price Performance — Growth of $10,000

Value of a $10,000 investment in VWOB 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.

VWOB Drawdown

The "underwater" chart: VWOB'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 Government Bond Index Fund (VWOB) operates within the International Bonds category, which ETFValuer currently tracks with 8 distinct ETFs. Issued by Vanguard, this fund has accumulated assets under management of $6.76 billion and trades at a price of $66.13. It holds an overall rank of #237 out of 458 tracked ETFs across all categories, receiving an ETFValuer grade of C with a score of 60.5 out of 100. The fund carries an expense ratio of 0.15% while offering a dividend yield of 5.81%. The substantial asset base and moderate price point suggest significant investor adoption relative to the broader universe of tracked funds. These metrics collectively position VWOB as a mid-tier option within its specific category and the wider market landscape.

Over the most recent trading day, the fund posted a return of +0.17%, though it declined by -0.26% over the subsequent week. A further drop of -1.19% occurred over the one-month period before the fund recovered to a marginal +0.01% gain over three months. Performance accelerated into the half-year mark with a +0.45% return, contributing to a year-to-date gain of +0.92%. The one-year return expanded significantly to +7.19%, while the three-year annualized return reached +27.81%. This trajectory indicates a divergence between short-term volatility and stronger long-term accumulation. The data shows a clear pattern where recent short-term fluctuations contrast with sustained positive growth over the longer horizons.

VWOB carries a volatility label of Very Low despite registering a beta of 1.10, which suggests its price movements may be slightly more sensitive to market shifts than the broader benchmark. The fund's Sharpe ratio stands at 0.41, indicating the level of risk-adjusted return generated relative to the volatility experienced. A maximum drawdown of -7.70% represents the largest peak-to-trough decline recorded for the fund during the measurement period. This combination of a low volatility classification and a beta above 1.0 implies a specific behavior where the fund may experience moderate market correlation without extreme daily swings. The Sharpe ratio and maximum drawdown figures together suggest that while the fund has endured periods of decline, the overall return profile has compensated for the risk taken.

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

VWOB Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 6.0% 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 VWOB's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With VWOB

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VWOB's top 10 — EMHY overlaps most, holding 1 of the same companies as VWOB's top 10 (1.1% of VWOB'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.

High-Yield Credit Spread: 2.81% (as of 2026-07-27) — The extra yield investors demand to hold high-yield corporate bonds over Treasuries — a real-time gauge of credit risk appetite relevant to this fund’s holdings.

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.

VWOB Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 6.03% and average daily volume is 542K/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 $6.76B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: VWOB 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.

VWOB Performance History

How VWOB Compares to Other International Bonds ETFs