EMF vs. VNM

Last updated Jun 23, 2026

EMF (Templeton Emerging Markets Fund) and VNM (VanEck Vectors Vietnam ETF) are both funds - EMF is a Emerging Markets Equities fund actively managed by Franklin Templeton, while VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index. EMF is actively managed, while VNM is passively managed. Over the past 10 years, EMF returned 16.28%/yr vs 4.07%/yr for VNM. At a 0.42 correlation, their price movements are largely independent. EMF charges 1.43%/yr vs 0.68%/yr for VNM.

Performance

EMF vs. VNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Emerging Markets Fund (EMF) and VanEck Vectors Vietnam ETF (VNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMF achieves a 46.72% return, which is significantly higher than VNM's -2.25% return. Over the past 10 years, EMF has outperformed VNM with an annualized return of 16.28%, while VNM has yielded a comparatively lower 4.07% annualized return.

EMF

• 1D: 1.94%
• 1M: 12.69%
• YTD: 46.72%
• 6M: 51.89%
• 1Y: 93.11%
• 3Y*: 37.95%
• 5Y*: 13.15%
• 10Y*: 16.28%

VNM

• 1D: 1.63%
• 1M: -0.53%
• YTD: -2.25%
• 6M: 0.21%
• 1Y: 40.04%
• 3Y*: 13.31%
• 5Y*: -0.09%
• 10Y*: 4.07%

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

EMF vs. VNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMF Templeton Emerging Markets Fund	46.72%	58.20%	6.56%	8.84%	-21.53%	-8.23%	24.48%	27.20%	-14.78%	53.55%
VNM VanEck Vectors Vietnam ETF	-2.25%	66.55%	-11.15%	15.01%	-43.74%	22.05%	9.84%	9.24%	-16.83%	38.80%

Correlation

The correlation between EMF and VNM is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Aug 14, 2009	0.42

Over the past year, the correlation between EMF and VNM has dropped to 0.15 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Return for Risk

EMF vs. VNM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMF

EMF Risk / Return Rank: 95
EMF Sharpe Ratio Rank: 99
EMF Sortino Ratio Rank: 95
EMF Omega Ratio Rank: 94
EMF Calmar Ratio Rank: 93
EMF Martin Ratio Rank: 94

VNM

VNM Risk / Return Rank: 43
VNM Sharpe Ratio Rank: 44
VNM Sortino Ratio Rank: 43
VNM Omega Ratio Rank: 40
VNM Calmar Ratio Rank: 49
VNM Martin Ratio Rank: 38

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMF vs. VNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Emerging Markets Fund (EMF) and VanEck Vectors Vietnam ETF (VNM). 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.

	EMF	VNM	Difference
Sharpe ratio: Return per unit of total volatility	3.96	1.50	+2.45
Sortino ratio: Return per unit of downside risk	4.67	2.14	+2.53
Omega ratio: Gain probability vs. loss probability	1.69	1.25	+0.44
Calmar ratio: Return relative to maximum drawdown	4.81	2.36	+2.45
Martin ratio: Return relative to average drawdown	18.78	5.80	+12.98

EMF vs. VNM - Sharpe Ratio Comparison

The current EMF Sharpe Ratio is 3.96, which is higher than the VNM Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of EMF and VNM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMF vs. VNM - Drawdown Comparison

The maximum EMF drawdown since its inception was -76.97%, which is greater than VNM's maximum drawdown of -63.19%. Use the drawdown chart below to compare losses from any high point for EMF and VNM.

Drawdown Indicators

	EMF	VNM	Difference
Max Drawdown Largest peak-to-trough decline	-76.97%	-63.19%	-13.78%
Max Drawdown (1Y) Largest decline over 1 year	-19.48%	-17.07%	-2.41%
Max Drawdown (3Y) Largest decline over 3 years	-19.48%	-31.60%	+12.12%
Max Drawdown (5Y) Largest decline over 5 years	-45.08%	-49.95%	+4.87%
Max Drawdown (10Y) Largest decline over 10 years	-47.65%	-51.67%	+4.02%
Current Drawdown Current decline from peak	0.00%	-23.87%	+23.87%
Average Drawdown Average peak-to-trough decline	-28.96%	-37.80%	+8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.98%	6.93%	-1.95%

Volatility

EMF vs. VNM - Volatility Comparison

Templeton Emerging Markets Fund (EMF) has a higher volatility of 9.25% compared to VanEck Vectors Vietnam ETF (VNM) at 5.92%. This indicates that EMF's price experiences larger fluctuations and is considered to be riskier than VNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMF	VNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	5.92%	+3.33%
Volatility (6M) Calculated over the trailing 6-month period	21.21%	18.18%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	23.72%	26.83%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	24.32%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	23.49%	-2.82%

EMF vs. VNM - Expense Ratio Comparison

EMF has a 1.43% expense ratio, which is higher than VNM's 0.68% expense ratio.

Dividends

EMF vs. VNM - Dividend Comparison

EMF's dividend yield for the trailing twelve months is around 5.82%, more than VNM's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMF Templeton Emerging Markets Fund	5.82%	9.73%	4.28%	6.22%	9.89%	6.92%	3.51%	7.36%	5.92%	12.11%	1.62%	12.81%
VNM VanEck Vectors Vietnam ETF	0.20%	0.20%	0.00%	5.21%	0.96%	0.49%	0.40%	0.76%	0.83%	1.14%	2.44%	3.69%

Frequently Asked Questions

Can I hold both EMF and VNM in my portfolio?

EMF and VNM have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMF or VNM?

EMF has higher volatility (9.25%) compared to VNM (5.92%). In terms of maximum drawdown, EMF dropped -76.97% vs VNM's -63.19%.

Which has better risk-adjusted returns?

EMF currently has the higher Sharpe Ratio (3.96 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.