Data as of Oct 28, 2026.
ACWX vs VWO: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWX returned +14.3% to VWO's +4.8%; 20% of their weight is in the same names.
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Net assets: $17.9bn on Oct 27, 2026 for iShares MSCI ACWI ex U.S. ETF, and $125.4bn on Sep 30, 2026 for Vanguard FTSE Emerging Markets ETF.
Pair scorecard
VWO costs 0.26 points a year less; their one-year returns differ by 9.5 points; VWO is 7.2 times larger.
| Measure | ACWX | VWO |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.3% | +4.8% |
| Drawdown | ||
| Below its high | 4.9%, high on Sep 4, 2026 | 7.0%, high on Sep 4, 2026 |
| Benchmark | ||
| What it tracks | MSCI ACWI ex USA Index | FTSE Emerging Markets All Cap China A Inclusion Index |
| Cost and size | ||
| Expense ratio | 0.32% | 0.06% |
| Net assets, as of Sep 30, 2026 | $17.3bn | $125.4bn |
| Holdings | ||
| Holdings in common | 20% | |
| Top ten holdings, share of the fund | 15.6% | 29.8% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Apr 11, 2008 to Oct 23, 2026 · 967 weekly returnsACWX returned more: +129.8% to +94.9%. ACWX swung less: 19.8% to 22.2%. ACWX fell slightly less at its worst: −59.4% to −61.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWX | VWO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +129.8% | +94.9% | ACWX | Price change plus distributions, reinvested. |
| Annualized | +4.6% | +3.7% | ACWX | Total return as a yearly rate. |
| Price return | +42.8% | +17.2% | ACWX | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.8% | 22.2% | ACWX | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.4% | 15.8% | ACWX (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −59.4% | −61.7% | ACWX (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.25 | 0.21 | ACWX | Return above Treasury bills per unit of volatility. |
| Sortino | 0.35 | 0.29 | ACWX | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.08 | 0.06 | ACWX | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 967 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWX and VWO hold 20% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
20% in common
Only in one fund ↓
Side by side
ACWX and VWO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWX and VWO do different jobs. What does each one do in a portfolio?
- What each follows. ACWX follows MSCI ACWI ex USA Index and VWO follows FTSE Emerging Markets All Cap China A Inclusion Index.
- Holdings in common. 20% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ACWX returned +14.3% and VWO +4.8% with distributions reinvested, a gap of 9.5 points.
Data as of Oct 28, 2026.
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ACWX
ACWX tracks the MSCI ACWI ex U.S.. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,939 positions, with the top ten at 15.6%. It sat 4.9% below its high of Sep 4, 2026 on Oct 28, 2026.
VWO
VWO tracks an index of Emerging markets. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6,515 positions, with the top ten at 29.8%. It sat 7.0% below its high of Sep 4, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ACWX or VWO?
- In the year to Oct 28, 2026, with distributions reinvested, ACWX returned +14.3% and VWO +4.8%.
- Which is cheaper, ACWX or VWO?
- VWO is cheaper, by 0.26 percentage points a year. That is about $26 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWX against VWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwx-vs-vwo
ETFIQ. (Oct 28, 2026). ACWX against VWO. Retrieved from https://etfiq.com/compare/any/acwx-vs-vwo
[ACWX against VWO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwx-vs-vwo)
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