EEMD vs. VWO

Last updated Aug 2, 2026

EEMD (AAM S&P Emerging Markets High Dividend Value ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds - EEMD tracks the S&P Emerging Markets Dividend and Free Cash Flow Yield while VWO tracks the FTSE Emerging Index. Both are passively managed. Their 0.67 correlation means they have sometimes moved together and sometimes differently. EEMD charges 0.50%/yr vs 0.08%/yr for VWO.

Performance

EEMD vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P Emerging Markets High Dividend Value ETF (EEMD) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EEMD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

VWO

• 1D: 0.96%
• 1M: -0.49%
• 6M: 4.16%
• YTD: 9.41%
• 1Y: 21.69%
• 3Y*: 14.84%
• 5Y*: 6.08%
• 10Y*: 7.86%
• ALL TIME*: 6.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VWO Vanguard FTSE Emerging Markets ETF	$386.61M	$469.40M	$499.89M

EEMD vs. VWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	9.61%	17.60%	-11.21%	5.54%	-0.35%	12.55%	-14.57%	5.00%
VWO Vanguard FTSE Emerging Markets ETF	9.41%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-14.76%	1.60%

Correlation

The correlation between EEMD and VWO is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (All Time) Calculated using the full available price history since Nov 29, 2017	0.67

The correlation between EEMD and VWO shifts across timeframes, from 0.44 (3 years) to 0.67 (all time), reflecting how their relationship changes across market environments.

EEMD vs. VWO - Sectors Allocation Comparison

Sectors	EEMD	VWO
Utilities	11.3%	2.8%
Energy	10.6%	3.8%
Real Estate	9.8%	2.0%
Consumer Defensive	9.7%	3.3%
Healthcare	9.5%	3.7%
Communication Services	9.1%	6.6%
Financial Services	9.0%	19.4%
Consumer Cyclical	8.8%	9.1%
Industrials	8.2%	7.9%
Basic Materials	7.4%	7.2%
Technology	6.6%	34.2%

Return for Risk

EEMD vs. VWO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EEMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VWO

VWO Risk / Return Rank: 51
VWO Sharpe Ratio Rank: 49
VWO Sortino Ratio Rank: 48
VWO Omega Ratio Rank: 49
VWO Calmar Ratio Rank: 54
VWO Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EEMD vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P Emerging Markets High Dividend Value ETF (EEMD) and Vanguard FTSE Emerging Markets ETF (VWO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EEMD	VWO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.20	—
Sortino ratio: Return per unit of downside risk	—	1.72	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.89	—
Martin ratio: Return relative to average drawdown	—	6.16	—

Drawdowns

Drawdown Indicators

	EEMD	VWO	Difference
Max Drawdown Largest peak-to-trough decline	—	-67.68%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.37%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.39%	—
Current Drawdown Current decline from peak	—	-4.07%	—
Average Drawdown Average peak-to-trough decline	—	-15.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.43%	—

Volatility

Volatility by Period

	EEMD	VWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.58%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.56%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.17%	—

EEMD vs. VWO - Expense Ratio Comparison

EEMD has a 0.50% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

EEMD vs. VWO - Dividend Comparison

EEMD has not paid dividends to shareholders, while VWO's dividend yield for the trailing twelve months is around 2.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	4.03%	8.41%	7.66%	6.34%	3.84%	5.35%	4.91%	0.42%	0.00%	0.00%
VWO Vanguard FTSE Emerging Markets ETF	2.35%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%

Frequently Asked Questions

Can I hold both EEMD and VWO in my portfolio?

EEMD and VWO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EEMD or VWO?

On fees, VWO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EEMD or VWO?

VWO is cheaper with a 0.08% expense ratio, compared with 0.50% for EEMD.

Which ETF pays a higher dividend yield, EEMD or VWO?

VWO has the higher dividend yield at 2.35%, compared with 0.00% for EEMD.

What is the main difference between EEMD and VWO?

EEMD tracks S&P Emerging Markets Dividend and Free Cash Flow Yield, while VWO tracks FTSE Emerging Index. They also come from different issuers: Advisors Asset Management and Vanguard. Their fees differ too: 0.50% for EEMD and 0.08% for VWO.