Data as of Oct 28, 2026.
IEMG vs VEU: Differences, Returns & Fees
Over the year to Oct 28, 2026, IEMG returned +15.3% to VEU's +14.4%; 27% of their weight is in the same names.
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Net assets: $150.4bn on Oct 27, 2026 for iShares Core MSCI Emerging Markets ETF, and $68.1bn on Sep 30, 2026 for Vanguard FTSE All World Ex US ETF.
Pair scorecard
VEU costs 0.05 points a year less; their one-year returns differ by 0.9 points; IEMG is 2.4 times larger.
| Measure | IEMG | VEU |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.3% | +14.4% |
| Drawdown | ||
| Below its high | 10.1%, high on Jun 22, 2026 | 5.0%, high on Sep 4, 2026 |
| Benchmark | ||
| What it tracks | MSCI Emerging Markets Investable Market Index (IMI) | FTSE All-World ex US Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.04% |
| Net assets, as of Sep 30, 2026 | $160.1bn | $68.1bn |
| Holdings | ||
| Holdings in common | 27% | |
| Top ten holdings, share of the fund | 32.7% | 15.2% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Nov 2, 2012 to Oct 23, 2026 · 729 weekly returnsVEU returned more: +181.6% to +120.7%. VEU swung less: 15.7% to 18.2%. VEU fell slightly less at its worst: −33.9% to −37.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IEMG | VEU | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +120.7% | +181.6% | VEU | Price change plus distributions, reinvested. |
| Annualized | +5.8% | +7.7% | VEU | Total return as a yearly rate. |
| Price return | +56.0% | +86.1% | VEU | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.2% | 15.7% | VEU | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.0% | 11.2% | VEU | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −37.1% | −33.9% | VEU (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.30 | 0.43 | VEU | Return above Treasury bills per unit of volatility. |
| Sortino | 0.42 | 0.61 | VEU | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.23 | VEU | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 729 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IEMG and VEU hold 27% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
27% in common
Only in one fund ↓
Side by side
IEMG and VEU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IEMG and VEU do different jobs. What does each one do in a portfolio?
- What each follows. IEMG follows MSCI Emerging Markets Investable Market Index (IMI) and VEU follows FTSE All-World ex US Index.
- Holdings in common. 27% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return (similar). Over 1 year to Oct 28, 2026 IEMG returned +15.3% and VEU +14.4% with distributions reinvested, a gap of 0.9 points.
Data as of Oct 28, 2026.
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IEMG
IEMG tracks the MSCI Emerging Markets. Over the year to Oct 28, 2026 it returned +15.3% with distributions reinvested, against +16.3% for its benchmark, the MSCI Emerging Markets Index. The prospectus expense ratio is 0.09% 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 2,857 positions, with the top ten at 32.7%. It sat 10.1% below its high of Jun 22, 2026 on Oct 28, 2026.
VEU
VEU tracks the FTSE All-World ex-US. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.04% 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 3,816 positions, with the top ten at 15.2%. It sat 5.0% below its high of Sep 4, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, IEMG or VEU?
- In the year to Oct 28, 2026, with distributions reinvested, IEMG returned +15.3% and VEU +14.4%.
- Which is cheaper, IEMG or VEU?
- VEU is cheaper, by 0.05 percentage points a year. That is about $5 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, IEMG against VEU, data as of Oct 28, 2026. https://etfiq.com/compare/any/iemg-vs-veu
ETFIQ. (Oct 28, 2026). IEMG against VEU. Retrieved from https://etfiq.com/compare/any/iemg-vs-veu
[IEMG against VEU (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iemg-vs-veu)
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