EMKT.AX vs. VGE.AX

Last updated Jul 16, 2026

EMKT.AX (VanEck MSCI Multifactor Emerging Markets Equity ETF) and VGE.AX (Vanguard FTSE Emerging Markets Shares ETF) are both Emerging Markets Equities funds - EMKT.AX tracks the MSCI Emerging Markets Multi-Factor Select Index while VGE.AX tracks the Vanguard FTSE Emerging Markets Shares Index. Both are passively managed. Over the past 5 years, EMKT.AX returned 15.12%/yr vs 5.34%/yr for VGE.AX. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

EMKT.AX vs. VGE.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck MSCI Multifactor Emerging Markets Equity ETF (EMKT.AX) and Vanguard FTSE Emerging Markets Shares ETF (VGE.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMKT.AX achieves a 26.61% return, which is significantly higher than VGE.AX's 4.15% return.

EMKT.AX

• 1D: -3.02%
• 1M: -5.25%
• 6M: 18.61%
• YTD: 26.61%
• 1Y: 37.00%
• 3Y*: 25.77%
• 5Y*: 15.12%
• 10Y*: —

VGE.AX

• 1D: -0.09%
• 1M: -0.57%
• 6M: 1.41%
• YTD: 4.15%
• 1Y: 11.82%
• 3Y*: 13.35%
• 5Y*: 5.34%
• 10Y*: 8.28%

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

EMKT.AX vs. VGE.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMKT.AX VanEck MSCI Multifactor Emerging Markets Equity ETF	26.61%	21.60%	25.43%	18.32%	-10.53%	12.71%	0.07%	21.05%	-13.96%
VGE.AX Vanguard FTSE Emerging Markets Shares ETF	4.15%	16.61%	19.57%	5.11%	-12.17%	7.21%	6.36%	20.69%	-8.00%

Correlation

The correlation between EMKT.AX and VGE.AX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018	0.67

The correlation between EMKT.AX and VGE.AX has been stable across timeframes, ranging from 0.66 to 0.69 - a consistent structural relationship.

Return for Risk

EMKT.AX vs. VGE.AX — Risk / Return Rank

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

EMKT.AX

EMKT.AX Risk / Return Rank: 55
EMKT.AX Sharpe Ratio Rank: 51
EMKT.AX Sortino Ratio Rank: 48
EMKT.AX Omega Ratio Rank: 54
EMKT.AX Calmar Ratio Rank: 63
EMKT.AX Martin Ratio Rank: 59

VGE.AX

VGE.AX Risk / Return Rank: 26
VGE.AX Sharpe Ratio Rank: 28
VGE.AX Sortino Ratio Rank: 27
VGE.AX Omega Ratio Rank: 27
VGE.AX Calmar Ratio Rank: 23
VGE.AX Martin Ratio Rank: 26

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.

EMKT.AX vs. VGE.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck MSCI Multifactor Emerging Markets Equity ETF (EMKT.AX) and Vanguard FTSE Emerging Markets Shares ETF (VGE.AX). 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.

	EMKT.AX	VGE.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.85	+0.61
Sortino ratio: Return per unit of downside risk	2.01	1.27	+0.74
Omega ratio: Gain probability vs. loss probability	1.28	1.16	+0.12
Calmar ratio: Return relative to maximum drawdown	2.57	0.90	+1.67
Martin ratio: Return relative to average drawdown	8.39	2.80	+5.59

EMKT.AX vs. VGE.AX - Sharpe Ratio Comparison

The current EMKT.AX Sharpe Ratio is 1.46, which is higher than the VGE.AX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of EMKT.AX and VGE.AX, 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

EMKT.AX vs. VGE.AX - Drawdown Comparison

The maximum EMKT.AX drawdown since its inception was -23.26%, smaller than the maximum VGE.AX drawdown of -27.06%. Use the drawdown chart below to compare losses from any high point for EMKT.AX and VGE.AX.

Drawdown Indicators

	EMKT.AX	VGE.AX	Difference
Max Drawdown Largest peak-to-trough decline	-23.26%	-27.06%	+3.80%
Max Drawdown (1Y) Largest decline over 1 year	-13.55%	-12.53%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	-12.53%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-18.03%	-20.98%	+2.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.93%	—
Current Drawdown Current decline from peak	-7.87%	-2.08%	-5.79%
Average Drawdown Average peak-to-trough decline	-5.78%	-6.81%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	4.13%	+0.10%

Volatility

EMKT.AX vs. VGE.AX - Volatility Comparison

VanEck MSCI Multifactor Emerging Markets Equity ETF (EMKT.AX) has a higher volatility of 11.32% compared to Vanguard FTSE Emerging Markets Shares ETF (VGE.AX) at 4.55%. This indicates that EMKT.AX's price experiences larger fluctuations and is considered to be riskier than VGE.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMKT.AX	VGE.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	4.55%	+6.77%
Volatility (6M) Calculated over the trailing 6-month period	22.45%	11.58%	+10.87%
Volatility (1Y) Calculated over the trailing 1-year period	23.92%	13.39%	+10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.21%	13.53%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	14.50%	+1.68%

Dividends

EMKT.AX vs. VGE.AX - Dividend Comparison

EMKT.AX's dividend yield for the trailing twelve months is around 13.38%, more than VGE.AX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMKT.AX VanEck MSCI Multifactor Emerging Markets Equity ETF	13.38%	2.92%	2.48%	5.28%	4.20%	1.67%	2.40%	1.41%	0.52%	0.00%	0.00%	0.00%
VGE.AX Vanguard FTSE Emerging Markets Shares ETF	0.32%	3.22%	0.50%	1.62%	2.83%	2.68%	3.78%	3.15%	2.22%	2.01%	1.65%	3.22%

Frequently Asked Questions

Can I hold both EMKT.AX and VGE.AX in my portfolio?

EMKT.AX and VGE.AX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between EMKT.AX and VGE.AX?

EMKT.AX tracks MSCI Emerging Markets Multi-Factor Select Index, while VGE.AX tracks Vanguard FTSE Emerging Markets Shares Index. They also come from different issuers: VanEck and Vanguard.