Data as of Oct 28, 2026.
IEMG vs VWO: Differences, Returns & Fees
Over the year to Oct 28, 2026, IEMG returned +15.3% to VWO's +4.8%; 61% 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 $125.4bn on Sep 30, 2026 for Vanguard FTSE Emerging Markets ETF.
Pair scorecard
VWO costs 0.03 points a year less; their one-year returns differ by 10.5 points; IEMG is 1.3 times larger.
| Measure | IEMG | VWO |
|---|---|---|
| Return | ||
| Total return, 1 year | +15.3% | +4.8% |
| Drawdown | ||
| Below its high | 10.1%, high on Jun 22, 2026 | 7.0%, high on Sep 4, 2026 |
| Benchmark | ||
| What it tracks | MSCI Emerging Markets Investable Market Index (IMI) | FTSE Emerging Markets All Cap China A Inclusion Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.06% |
| Net assets, as of Sep 30, 2026 | $160.1bn | $125.4bn |
| Holdings | ||
| Holdings in common | 61% | |
| Top ten holdings, share of the fund | 32.7% | 29.8% |
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 returnsIEMG returned more: +120.7% to +101.1%. VWO swung slightly less: 17.6% to 18.2%. VWO fell slightly less at its worst: −35.3% to −37.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IEMG | VWO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +120.7% | +101.1% | IEMG | Price change plus distributions, reinvested. |
| Annualized | +5.8% | +5.1% | IEMG | Total return as a yearly rate. |
| Price return | +56.0% | +35.9% | IEMG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.2% | 17.6% | VWO (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.0% | 12.6% | VWO (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −37.1% | −35.3% | VWO (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.30 | 0.27 | IEMG | Return above Treasury bills per unit of volatility. |
| Sortino | 0.42 | 0.37 | IEMG | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.14 | IEMG (slight) | 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 VWO hold 61% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
61% in common
Only in one fund ↓
Side by side
IEMG and VWO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IEMG and VWO are built for the same job. How do they differ in cost, holdings and results?
- What each follows. IEMG follows MSCI Emerging Markets Investable Market Index (IMI) and VWO follows FTSE Emerging Markets All Cap China A Inclusion Index.
- One-year total return. Over 1 year to Oct 28, 2026 IEMG returned +15.3% and VWO +4.8% with distributions reinvested, a gap of 10.5 points.
- Holdings in common (similar). 61% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
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.
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, IEMG or VWO?
- In the year to Oct 28, 2026, with distributions reinvested, IEMG returned +15.3% and VWO +4.8%.
- Which is cheaper, IEMG or VWO?
- VWO is cheaper, by 0.03 percentage points a year. That is about $3 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.
Cite this pageCitation, APA and Markdown
ETFIQ, IEMG against VWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/iemg-vs-vwo
ETFIQ. (Oct 28, 2026). IEMG against VWO. Retrieved from https://etfiq.com/compare/any/iemg-vs-vwo
[IEMG against VWO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iemg-vs-vwo)
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