EWM vs. VGT

Last updated Jul 21, 2026

EWM (iShares MSCI Malaysia ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - EWM is a Asia Pacific Equities fund tracking the MSCI Malaysia Index, while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, EWM returned 2.51%/yr vs 24.18%/yr for VGT. At a 0.49 correlation, their price movements are largely independent. EWM charges 0.49%/yr vs 0.09%/yr for VGT.

Performance

EWM vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Malaysia ETF (EWM) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EWM achieves a 4.13% return, which is significantly lower than VGT's 20.44% return. Over the past 10 years, EWM has underperformed VGT with an annualized return of 2.51%, while VGT has yielded a comparatively higher 24.18% annualized return.

EWM

• 1D: -0.96%
• 1M: 1.42%
• 6M: 1.13%
• YTD: 4.13%
• 1Y: 20.95%
• 3Y*: 14.15%
• 5Y*: 6.17%
• 10Y*: 2.51%
• ALL TIME*: 1.89%

VGT

• 1D: 0.11%
• 1M: -5.56%
• 6M: 19.62%
• YTD: 20.44%
• 1Y: 32.72%
• 3Y*: 27.18%
• 5Y*: 18.07%
• 10Y*: 24.18%
• ALL TIME*: 14.87%

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

EWM vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EWM iShares MSCI Malaysia ETF	4.13%	15.74%	19.46%	-3.61%	-6.00%	-7.40%	3.12%	-1.41%	-6.28%	24.25%
VGT Vanguard Information Technology ETF	20.44%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between EWM and VGT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.49

The correlation between EWM and VGT shifts across timeframes, from 0.35 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

EWM vs. VGT - Sectors Allocation Comparison

Sectors	EWM	VGT
Financial Services	52.0%	0.5%
Industrials	12.6%	0.4%
Utilities	10.9%	-
Basic Materials	8.3%	0.0%
Communication Services	5.2%	0.5%
Consumer Defensive	4.9%	-
Healthcare	3.2%	0.0%
Energy	3.0%	0.3%
Consumer Cyclical	1.1%	0.1%
Real Estate	-	-
Technology	-	98.6%

Return for Risk

EWM vs. VGT — Risk / Return Rank

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

EWM

EWM Risk / Return Rank: 54
EWM Sharpe Ratio Rank: 59
EWM Sortino Ratio Rank: 58
EWM Omega Ratio Rank: 54
EWM Calmar Ratio Rank: 52
EWM Martin Ratio Rank: 45

VGT

VGT Risk / Return Rank: 51
VGT Sharpe Ratio Rank: 55
VGT Sortino Ratio Rank: 50
VGT Omega Ratio Rank: 50
VGT Calmar Ratio Rank: 52
VGT Martin Ratio Rank: 46

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.

EWM vs. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Malaysia ETF (EWM) and Vanguard Information Technology ETF (VGT). 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.

	EWM	VGT	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.40	+0.07
Sortino ratio: Return per unit of downside risk	2.10	1.89	+0.20
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	1.98	2.00	-0.02
Martin ratio: Return relative to average drawdown	5.50	5.69	-0.19

EWM vs. VGT - Sharpe Ratio Comparison

The current EWM Sharpe Ratio is 1.47, which is comparable to the VGT Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of EWM and VGT, 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

EWM vs. VGT - Drawdown Comparison

The maximum EWM drawdown since its inception was -89.19%, which is greater than VGT's maximum drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for EWM and VGT.

Drawdown Indicators

	EWM	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-89.19%	-54.63%	-34.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-16.40%	+5.79%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-27.23%	+5.92%
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	-35.07%	+12.31%
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	-35.07%	-8.74%
Current Drawdown Current decline from peak	-7.98%	-9.86%	+1.88%
Average Drawdown Average peak-to-trough decline	-31.73%	-7.95%	-23.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	5.76%	-1.94%

Volatility

EWM vs. VGT - Volatility Comparison

The current volatility for iShares MSCI Malaysia ETF (EWM) is 4.42%, while Vanguard Information Technology ETF (VGT) has a volatility of 8.37%. This indicates that EWM experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWM	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	8.37%	-3.95%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	19.51%	-8.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	23.50%	-9.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.77%	25.69%	-11.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.15%	24.81%	-8.66%

EWM vs. VGT - Expense Ratio Comparison

EWM has a 0.49% expense ratio, which is higher than VGT's 0.09% expense ratio.

Dividends

EWM vs. VGT - Dividend Comparison

EWM's dividend yield for the trailing twelve months is around 3.57%, more than VGT's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWM iShares MSCI Malaysia ETF	3.57%	3.41%	3.32%	3.47%	3.00%	6.48%	1.89%	2.91%	3.84%	5.58%	5.97%	37.54%
VGT Vanguard Information Technology ETF	0.38%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both EWM and VGT in my portfolio?

EWM and VGT have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWM or VGT?

VGT has higher volatility (8.37%) compared to EWM (4.42%). In terms of maximum drawdown, EWM dropped -89.19% vs VGT's -54.63%.

Which ETF is better, EWM or VGT?

On 10-year performance, VGT leads with 24.18% vs 2.51% for EWM. On fees, VGT is cheaper at 0.09% per year. On volatility, EWM has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWM or VGT?

Over the 10-year period, VGT has performed better with a 24.18% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWM or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.49% for EWM.

Which ETF pays a higher dividend yield, EWM or VGT?

EWM has the higher dividend yield at 3.57%, compared with 0.38% for VGT.

What is the main difference between EWM and VGT?

EWM is categorized as Asia Pacific Equities, while VGT is Technology Equities. EWM tracks MSCI Malaysia Index, while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.49% for EWM and 0.09% for VGT.

Which has better risk-adjusted returns?

EWM currently has the higher Sharpe Ratio (1.47 vs 1.40), 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.