KPHO vs. VEXC

Last updated Jun 4, 2026

KPHO (KraneShares Dragon Capital Vietnam Growth Index ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - KPHO tracks the Dragon Capital Merqube Vietnam Growth Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. A 0.52 correlation means they provide meaningful diversification when combined. KPHO charges 1.03%/yr vs 0.07%/yr for VEXC.

Performance

KPHO vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KPHO achieves a -6.83% return, which is significantly lower than VEXC's 20.21% return.

KPHO

• 1D: -0.11%
• 1M: -2.98%
• YTD: -6.83%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VEXC

• 1D: -1.20%
• 1M: 4.95%
• YTD: 20.21%
• 6M: 23.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KPHO vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
KPHO KraneShares Dragon Capital Vietnam Growth Index ETF	-6.83%	9.78%
VEXC Vanguard Emerging Markets Ex-China ETF	20.21%	2.69%

Correlation

The correlation between KPHO and VEXC is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.52

Return for Risk

KPHO vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	KPHO	VEXC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	2.21	-2.05

Drawdowns

KPHO vs. VEXC - Drawdown Comparison

The maximum KPHO drawdown since its inception was -14.34%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for KPHO and VEXC.

Drawdown Indicators

	KPHO	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-12.42%	-1.92%
Current Drawdown Current decline from peak	-11.98%	-1.20%	-10.78%
Average Drawdown Average peak-to-trough decline	-5.83%	-2.23%	-3.60%

Volatility

Volatility by Period

	KPHO	VEXC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	28.80%	18.89%	+9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.80%	18.89%	+9.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.80%	18.89%	+9.91%

KPHO vs. VEXC - Expense Ratio Comparison

KPHO has a 1.03% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

KPHO vs. VEXC - Dividend Comparison

KPHO's dividend yield for the trailing twelve months is around 11.16%, more than VEXC's 0.74% yield.

Position	TTM	2025
KPHO KraneShares Dragon Capital Vietnam Growth Index ETF	11.16%	10.40%
VEXC Vanguard Emerging Markets Ex-China ETF	0.74%	0.43%

Frequently Asked Questions

Can I hold both KPHO and VEXC in my portfolio?

KPHO and VEXC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KPHO or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KPHO or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 1.03% for KPHO.

Which ETF pays a higher dividend yield, KPHO or VEXC?

KPHO has the higher dividend yield at 11.16%, compared with 0.74% for VEXC.

What is the main difference between KPHO and VEXC?

KPHO tracks Dragon Capital Merqube Vietnam Growth Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: KraneShares and Vanguard. Their fees differ too: 1.03% for KPHO and 0.07% for VEXC.