IMVP vs. VWO
IMVP (Invesco India ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds - IMVP tracks the FTSE India Quality and Yield Select Index while VWO tracks the FTSE Emerging Index. Both are passively managed. Over the past 10 years, IMVP returned 8.19%/yr vs 8.85%/yr for VWO. A 0.72 correlation means they provide meaningful diversification when combined. IMVP charges 0.78%/yr vs 0.08%/yr for VWO.
Performance
IMVP vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than VWO's 12.22% return. Over the past 10 years, IMVP has underperformed VWO with an annualized return of 8.19%, while VWO has yielded a comparatively higher 8.85% annualized return.
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
VWO
- 1D
- -1.41%
- 1M
- 2.72%
- YTD
- 12.22%
- 6M
- 13.79%
- 1Y
- 30.72%
- 3Y*
- 18.02%
- 5Y*
- 5.17%
- 10Y*
- 8.85%
IMVP vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
VWO Vanguard FTSE Emerging Markets ETF | 12.22% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 15.17% | 20.75% | -14.76% | 31.49% |
Correlation
The correlation between IMVP and VWO is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2008 | 0.72 |
The correlation between IMVP and VWO shifts across timeframes, from 0.54 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IMVP vs. VWO — Risk / Return Rank
IMVP
VWO
IMVP vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) 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.
| IMVP | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.99 | ||
| Sortino ratioReturn per unit of downside risk | -4.16 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.36 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 2.76 | -3.55 |
| Martin ratioReturn relative to average drawdown | -1.84 | 9.96 | -11.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IMVP | VWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 1.94 | -2.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.30 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.46 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.27 | -0.15 |
Drawdowns
IMVP vs. VWO - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, roughly equal to the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for IMVP and VWO.
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Drawdown Indicators
| IMVP | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -67.68% | +3.14% |
Max Drawdown (1Y)Largest decline over 1 year | -21.44% | -11.17% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -17.37% | -8.43% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -32.64% | +6.84% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -36.39% | -3.30% |
Current DrawdownCurrent decline from peak | -23.71% | -1.41% | -22.30% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -15.82% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 3.09% | +6.07% |
Volatility
IMVP vs. VWO - Volatility Comparison
Invesco India ETF (IMVP) has a higher volatility of 6.00% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.61%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier 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
| IMVP | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 5.61% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 13.22% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 15.89% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 17.37% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 19.20% | +0.39% |
IMVP vs. VWO - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is higher than VWO's 0.08% expense ratio.
Dividends
IMVP vs. VWO - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 8.81%, more than VWO's 2.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 8.81% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
VWO Vanguard FTSE Emerging Markets ETF | 2.40% | 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
IMVP and VWO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMVP has higher volatility (6.00%) compared to VWO (5.61%). In terms of maximum drawdown, IMVP dropped -64.54% vs VWO's -67.68%.
On 10-year performance, VWO leads with 8.85% vs 8.19% for IMVP. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 5.61%. 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 8.85% return vs 8.19%. 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 0.78% for IMVP.
IMVP has the higher dividend yield at 8.81%, compared with 2.40% for VWO.
IMVP tracks FTSE India Quality and Yield Select Index, while VWO tracks FTSE Emerging Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.78% for IMVP and 0.08% for VWO.
VWO currently has the higher Sharpe Ratio (1.94 vs -1.05), 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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