VWO
Vanguard FTSE Emerging Markets ETF
Vanguard FTSE Emerging Markets ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the FTSE Emerging Markets All Cap China A Inclusion Index.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
8 bp
EXPENSES
$132.9 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Vanguard |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 04, 2005 |
| Assets (mns) | $132,915 |
| Expense ratio | 8 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Delayed |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| VTB BANK OJSC | 40.6 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 5.1 % |
| TENCENT HOLDINGS LTD | 2.1 % |
| ALIBABA GROUP HOLDING LTD. | 1.2 % |
| RELIANCE INDUSTRIES LTD | 0.9 % |
| HDFC BANK LIMITED | 0.8 % |
| MEITUAN DIANPING | 0.6 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 0.6 % |
| INFOSYS TECHNOLOGIES LTD | 0.5 % |
| HON HAI PRECISION INDUSTRY | 0.5 % |
Constituent Breakdown
| Number of holdings | 5842 |
| Herfindahl-Hirschman Index | 114 |
| Wgt avg mkt cap (mns) | $124,883 |
| Large cap (>$10bn) | 67.4% |
| Mid cap ($2-10bn) | 24.3% |
| Small cap (<$2bn) | 7.5% |
| Developed mkts. | 5.4% |
| Emerging mkts. | 94.6% |
Country Exposure
 |
RUSSIA | 41.7 % |
 |
CHINA | 13.4 % |
 |
INDIA | 12.5 % |
 |
TAIWAN | 12.2 % |
 |
BRAZIL | 2.7 % |
 |
SAUDI ARABIA | 2.4 % |
 |
SOUTH AFRICA | 1.5 % |
 |
MEXICO | 1.3 % |
 |
MALAYSIA | 1.1 % |
 |
THAILAND | 1.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.0% | 12.3% | 6.7% | -3.5% | 3.9% | 3.0% | 6.3% | Volatility | 12.8% | 13.7% | 16.2% | 17.4% | 21.1% | 19.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.58 | 40% |
| MSCI EAFE | 0.73 | 60% |
| MSCI Emg Mkts | 0.92 | 97% |
Liquidity Measures
| Avg. volume (000) | 8,348 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.03% |
| ADV of underlying (mns) | $82,938 |
Technical Indicators
| Recent close | $43.24 |
| 30d moving avg. | $44.48 |
| Annualized volatility | 16.4% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. VWO |
Expenses vs. VWO |
ALTAR Score™ vs. VWO |
|---|---|---|---|---|
| IEMG | iShares Core MSCI Emerging Markets ETF | 50.8% | +1 bp | +0.3% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 46.2% | +27 bp | +0.2% |
| EEM | iShares MSCI Emerging Markets ETF | 45.2% | +61 bp | -0.3% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 44.8% | +3 bp | +0.3% |
| TLTE | FlexShares Morningstar Emerging Markets Factor Tilt Index | 44.3% | +51 bp | +2.0% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 43.8% | +28 bp | 0.0% |
| SCHE | Schwab Emerging Markets Equity ETF | 43.7% | +3 bp | +0.1% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 43.6% | +58 bp | -0.4% |
| SPEM | SPDR Portfolio Emerging Markets ETF | 42.9% | -1 bp | +0.2% |
| DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 41.8% | +30 bp | +0.9% |
Risk and Returns: VWO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
VWO
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
VWO
7.2%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.2% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. VWO's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places VWO in the 47th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
VWO
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| VWO (8 bp) Percentile rank | 3 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VWO | 8.0 | 2.5 | 10.5 |
| Peer Avg. | 45.7 | 21.0 | 66.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .