GEM vs VWO: Differences, Returns & Fees
GEM and VWO hold 54% of their weight in the same names, and GEM returned +26.6% over the year. Net assets: $1.8bn on Oct 8, 2026 for Goldman Sachs ActiveBeta Emerging Markets Equity ETF, and $125.4bn on Sep 30, 2026 for Vanguard FTSE Emerging Markets ETF.
VWO costs 0.29 points a year less; their one-year returns differ by 14.5 points.
| GEM | VWO | |
|---|---|---|
| Expense ratio | 0.35% | 0.06% |
| Net assets, GEM as of Oct 8, 2026 and VWO as of Sep 30, 2026 | $1.8bn | $125.4bn |
| Total return, 1 year | +26.6% | +12.1% |
| What it tracks | Goldman Sachs ActiveBeta Emerging Markets Equity Index | FTSE Emerging Markets All Cap China A Inclusion Index |
| Holdings in common | 54% | |
| Top ten holdings, share of the fund | 36.9% | 28.9% |
| Below its high | 5.9%, high on Jun 22, 2026 | |
Holdings in common uses holdings dated May 31, 2026 and Aug 31, 2026.
What they hold in common
By the books each fund has filed, GEM and VWO hold 54% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Aug 31, 2026.
half
54% in common
On the same fields
GEM and VWO on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About GEM
GEM tracks an index. Over the year to Oct 9, 2026 it returned +26.6% with distributions reinvested. The prospectus expense ratio is 0.35% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 743 positions, with the top ten at 36.9%. It sat 5.9% below its high of Jun 22, 2026 on Oct 9, 2026.
About VWO
VWO tracks an index of Emerging markets. Over the year to Oct 9, 2026 it returned +12.1% with distributions reinvested. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer as of Aug 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 6,356 positions, with the top ten at 28.9%.
Questions people ask
- Which returned more over the last year, GEM or VWO?
- In the year to Oct 9, 2026, with distributions reinvested, GEM returned +26.6% and VWO +12.1%.
- Which is cheaper, GEM or VWO?
- VWO is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. 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, GEM against VWO, data as of Oct 9, 2026. https://etfiq.com/compare/any/gem-vs-vwo
ETFIQ. (Oct 9, 2026). GEM against VWO. Retrieved from https://etfiq.com/compare/any/gem-vs-vwo
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