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
89.7 B
ASSETS UNDER MGMT
7 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 04, 2005 |
| Assets (mns) | $89,669 |
| Expense ratio | 7 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 +
| TAIWAN SEMICONDUCTOR MANUFAC | 9.4 % |
| TENCENT HOLDINGS LTD | 4.0 % |
| CANVEST ENVIRONMENTAL PROTECTION GROUP C | 2.7 % |
| ALIBABA GROUP HOLDING LTD. | 2.4 % |
| HDFC BANK LIMITED | 1.4 % |
| XIAOMI CORP. CLASS B | 1.3 % |
| RELIANCE INDUSTRIES LTD | 1.0 % |
| CHINA CONSTRUCTION BANK-H | 1.0 % |
| ICICI BANK LTD | 0.9 % |
| MEITUAN DIANPING | 0.9 % |
Constituent Breakdown
| Number of holdings | 5948 |
| Herfindahl-Hirschman Index | 135 |
| Wgt avg mkt cap (mns) | $143,772 |
| Large cap (>$10bn) | 60.0% |
| Mid cap ($2-10bn) | 19.8% |
| Small cap (<$2bn) | 9.0% |
| Developed mkts. | 5.1% |
| Emerging mkts. | 86.3% |
Country Exposure
 |
CHINA | 25.9 % |
 |
TAIWAN | 20.1 % |
 |
INDIA | 17.8 % |
 |
BRAZIL | 4.4 % |
 |
HONG KONG | 4.2 % |
 |
SAUDI ARABIA | 3.6 % |
 |
SOUTH AFRICA | 2.6 % |
 |
MEXICO | 1.9 % |
 |
MALAYSIA | 1.7 % |
 |
THAILAND | 1.5 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 12.3% | 13.0% | 10.3% | 5.9% | 4.5% | 1.9% | 3.6% | 3.4% |
| Dividend Yield | 0.1% | 3.2% | 3.5% | 3.5% | 3.2% | 2.9% | 2.8% | 2.7% |
| Total Returns | 12.4% | 16.2% | 13.7% | 9.4% | 7.7% | 4.9% | 6.4% | 6.1% | Ann. Volatility | 20.5% | 18.7% | 16.3% | 16.7% | 17.9% | 20.0% | 26.6% | 26.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.59 | 35% |
| MSCI EAFE | 0.71 | 52% |
| MSCI Emg Mkts | 0.90 | 90% |
Liquidity Measures
| Avg. volume (000) | 8,419 |
| ADV traded (mns) | $416 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.03% |
Technical Indicators
| Recent close | $49.43 |
| 30d moving avg. | $48.41 |
| Annualized volatility | 16.1% |
| Relative strength (RSI) | 63 |
| Short interest | 2.3% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| IEMG | iShares Core MSCI Emerging Markets ETF | 74.1% | +2 bp | +10.9% |
| SCHE | Schwab Emerging Markets Equity ETF | 71.9% | +4 bp | +11.4% |
| EEM | iShares MSCI Emerging Markets ETF | 70.9% | +62 bp | +10.8% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 70.5% | +4 bp | +10.5% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 69.7% | +59 bp | +10.3% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 69.4% | +29 bp | +10.3% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 68.9% | +8 bp | +10.7% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 67.0% | +28 bp | +9.8% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 66.8% | +23 bp | +10.9% |
| SPEM | SPDR Portfolio Emerging Markets ETF | 65.0% | 0 bp | +11.0% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 7/8/2025
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
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
VWO
10.6%
Cat. Avg
8.2%
ALTAR Score™ Calculation
Category Overview
There are 116 funds in the Emerging Equity category, with an average ALTAR Score™
of 8.2% and a standard deviation of
2.7%. VWO's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places VWO in the 81st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
VWOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| (7 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 | 7.0 | 0.0 | 7 |
| Peer Avg. | 48.1 | 26.6 | 74.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .