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EPP vs. VWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EPP vs. VWO

Last updated Aug 2, 2026
Documentation

EPP (iShares MSCI Pacific ex Japan ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - EPP is a Asia Pacific Equities fund tracking the MSCI Pacific ex-Japan Index, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Both are passively managed. Over the past 10 years, EPP returned 7.34%/yr vs 7.86%/yr for VWO. Their correlation of 0.82 means they have usually moved in the same direction. EPP charges 0.48%/yr vs 0.08%/yr for VWO.

Performance

EPP vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Pacific ex Japan ETF (EPP) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EPP achieves a 13.66% return, which is significantly higher than VWO's 9.41% return. Over the past 10 years, EPP has underperformed VWO with an annualized return of 7.34%, while VWO has yielded a comparatively higher 7.86% annualized return.

EPP

1D
-1.26%
1M
5.83%
6M
7.04%
YTD
13.66%
1Y
19.08%
3Y*
13.55%
5Y*
6.35%
10Y*
7.34%
ALL TIME*
9.07%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EPP

iShares MSCI Pacific ex Japan ETF
$14.47M$15.53M$19.44M

VWO

Vanguard FTSE Emerging Markets ETF
$386.61M$469.40M$499.89M

EPP vs. VWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EPP
iShares MSCI Pacific ex Japan ETF		13.66%19.70%4.76%5.76%-6.59%4.26%6.04%18.30%-10.78%26.05%
VWO
Vanguard FTSE Emerging Markets ETF		9.41%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%31.49%

Correlation

The correlation between EPP and VWO is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.77

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.79

Correlation (10Y)
Provides a long-term view across more market conditions.

0.79

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2005

0.82

The correlation between EPP and VWO shifts across timeframes, from 0.71 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

EPP vs. VWO - Sectors Allocation Comparison

Sectors
EPP
VWO

Financial Services

45.0%
19.4%

Basic Materials

15.8%
7.2%

Industrials

8.7%
7.9%

Real Estate

7.2%
2.0%

Consumer Cyclical

6.9%
9.1%

Healthcare

3.8%
3.7%

Utilities

3.5%
2.8%

Consumer Defensive

3.2%
3.3%

Communication Services

2.6%
6.6%

Energy

2.5%
3.8%

Technology

1.0%
34.2%

Financial Services

EPP
45.0%
VWO
19.4%

Basic Materials

EPP
15.8%
VWO
7.2%

Industrials

EPP
8.7%
VWO
7.9%

Real Estate

EPP
7.2%
VWO
2.0%

Consumer Cyclical

EPP
6.9%
VWO
9.1%

Healthcare

EPP
3.8%
VWO
3.7%

Utilities

EPP
3.5%
VWO
2.8%

Consumer Defensive

EPP
3.2%
VWO
3.3%

Communication Services

EPP
2.6%
VWO
6.6%

Energy

EPP
2.5%
VWO
3.8%

Technology

EPP
1.0%
VWO
34.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Pacific ex Japan ETF

Vanguard FTSE Emerging Markets ETF

Often compared with EPP:
EPP vs. AAXJEPP vs. EWTEPP vs. BBAXEPP vs. EWHEPP vs. AIAEPP vs. EWYEPP vs. VPL
Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX

Return for Risk

EPP vs. VWO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EPP
EPP Risk / Return Rank: 5252
Overall Rank
EPP Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 5050
Sortino Ratio Rank
EPP Omega Ratio Rank: 5050
Omega Ratio Rank
EPP Calmar Ratio Rank: 6161
Calmar Ratio Rank
EPP Martin Ratio Rank: 5151
Martin Ratio Rank
VWO
VWO Risk / Return Rank: 5151
Overall Rank
VWO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4848
Sortino Ratio Rank
VWO Omega Ratio Rank: 4949
Omega Ratio Rank
VWO Calmar Ratio Rank: 5454
Calmar Ratio Rank
VWO Martin Ratio Rank: 5353
Martin Ratio Rank
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.

EPP vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex Japan ETF (EPP) 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.

EPPVWODifference
Sharpe ratioReturn per unit of total volatility
1.23
1.20

+0.02

Sortino ratioReturn per unit of downside risk
1.77
1.72

+0.05

Omega ratioGain probability vs. loss probability

1.22

1.22

0.00

Calmar ratioReturn relative to maximum drawdown

2.13

1.89

+0.24

Martin ratioReturn relative to average drawdown

5.94

6.16

-0.22

EPP vs. VWO - Sharpe Ratio Comparison

The current EPP Sharpe Ratio is 1.23, which is comparable to the VWO Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of EPP and VWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EPP vs. VWO - Drawdown Comparison

The maximum EPP drawdown since its inception was -66.01%, roughly equal to the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for EPP and VWO.

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Drawdown Indicators

EPPVWODifference

Max Drawdown

Largest peak-to-trough decline

-66.01%

-67.68%

+1.67%

Max Drawdown (1Y)

Largest decline over 1 year

-8.79%

-11.17%

+2.38%

Max Drawdown (3Y)

Largest decline over 3 years

-19.29%

-17.37%

-1.92%

Max Drawdown (5Y)

Largest decline over 5 years

-24.55%

-30.88%

+6.33%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-36.39%

-2.91%

Current Drawdown

Current decline from peak

-1.26%

-4.07%

+2.81%

Average Drawdown

Average peak-to-trough decline

-10.57%

-15.73%

+5.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

3.43%

-0.28%

Volatility

EPP vs. VWO - Volatility Comparison

The current volatility for iShares MSCI Pacific ex Japan ETF (EPP) is 3.89%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 5.58%. This indicates that EPP experiences smaller price fluctuations and is considered to be less risky than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EPPVWODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.89%

5.58%

-1.69%

Volatility (6M)

Calculated over the trailing 6-month period

12.79%

15.22%

-2.43%

Volatility (1Y)

Calculated over the trailing 1-year period

15.30%

17.58%

-2.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.52%

17.56%

-0.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.01%

19.17%

-0.16%

EPP vs. VWO - Expense Ratio Comparison

EPP has a 0.48% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

EPP vs. VWO - Dividend Comparison

EPP's dividend yield for the trailing twelve months is around 3.31%, more than VWO's 2.35% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.31%3.77%3.81%4.10%4.37%4.58%2.28%3.89%5.00%4.15%3.96%4.90%
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

EPP and VWO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VWO has higher volatility (5.58%) compared to EPP (3.89%). In terms of maximum drawdown, EPP dropped -66.01% vs VWO's -67.68%.

On 10-year performance, VWO leads with 7.86% vs 7.34% for EPP. On fees, VWO is cheaper at 0.08% per year. On volatility, EPP has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VWO has performed better with a 7.86% return vs 7.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VWO is cheaper with a 0.08% expense ratio, compared with 0.48% for EPP.

EPP has the higher dividend yield at 3.31%, compared with 2.35% for VWO.

EPP is categorized as Asia Pacific Equities, while VWO is Emerging Markets Equities. EPP tracks MSCI Pacific ex-Japan Index, while VWO tracks FTSE Emerging Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.48% for EPP and 0.08% for VWO.

EPP currently has the higher Sharpe Ratio (1.23 vs 1.20), 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.

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