ODVIX vs. VWO

Last updated Jun 4, 2026

ODVIX (Invesco Developing Markets Fund Class R6) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds. Over the past 10 years, ODVIX returned 8.44%/yr vs 8.85%/yr for VWO. Their correlation of 0.89 suggests significant overlap in exposure. ODVIX charges 0.88%/yr vs 0.08%/yr for VWO.

Performance

ODVIX vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Developing Markets Fund Class R6 (ODVIX) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ODVIX achieves a 23.99% return, which is significantly higher than VWO's 12.22% return. Both investments have delivered pretty close results over the past 10 years, with ODVIX having a 8.44% annualized return and VWO not far ahead at 8.85%.

ODVIX

• 1D: 1.76%
• 1M: 11.49%
• YTD: 23.99%
• 6M: 26.36%
• 1Y: 49.20%
• 3Y*: 16.70%
• 5Y*: 2.69%
• 10Y*: 8.44%

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%

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

ODVIX vs. VWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODVIX Invesco Developing Markets Fund Class R6	23.99%	28.84%	-0.98%	11.55%	-24.85%	-7.17%	17.66%	24.58%	-11.78%	35.33%
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 ODVIX and VWO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Dec 30, 2011	0.89

The correlation between ODVIX and VWO has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

ODVIX vs. VWO — Risk / Return Rank

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

ODVIX

ODVIX Risk / Return Rank: 85
ODVIX Sharpe Ratio Rank: 90
ODVIX Sortino Ratio Rank: 82
ODVIX Omega Ratio Rank: 82
ODVIX Calmar Ratio Rank: 86
ODVIX Martin Ratio Rank: 86

VWO

VWO Risk / Return Rank: 56
VWO Sharpe Ratio Rank: 56
VWO Sortino Ratio Rank: 55
VWO Omega Ratio Rank: 57
VWO Calmar Ratio Rank: 54
VWO Martin Ratio Rank: 56

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.

ODVIX vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund Class R6 (ODVIX) 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.

	ODVIX	VWO	Difference
Sharpe ratio: Return per unit of total volatility	2.96	1.94	+1.01
Sortino ratio: Return per unit of downside risk	3.86	2.69	+1.17
Omega ratio: Gain probability vs. loss probability	1.55	1.36	+0.19
Calmar ratio: Return relative to maximum drawdown	4.09	2.76	+1.33
Martin ratio: Return relative to average drawdown	16.28	9.96	+6.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ODVIX vs. VWO - Sharpe Ratio Comparison

The current ODVIX Sharpe Ratio is 2.96, which is higher than the VWO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of ODVIX 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.

Sharpe Ratios by Period

	ODVIX	VWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	1.94	+1.01
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	0.47	0.46	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.27	+0.13

Drawdowns

ODVIX vs. VWO - Drawdown Comparison

The maximum ODVIX drawdown since its inception was -45.88%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for ODVIX and VWO.

Drawdown Indicators

	ODVIX	VWO	Difference
Max Drawdown Largest peak-to-trough decline	-45.88%	-67.68%	+21.80%
Max Drawdown (1Y) Largest decline over 1 year	-12.05%	-11.17%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-18.10%	-17.37%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-44.77%	-32.64%	-12.13%
Max Drawdown (10Y) Largest decline over 10 years	-45.88%	-36.39%	-9.49%
Current Drawdown Current decline from peak	0.00%	-1.41%	+1.41%
Average Drawdown Average peak-to-trough decline	-14.57%	-15.82%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.09%	-0.07%

Volatility

ODVIX vs. VWO - Volatility Comparison

Invesco Developing Markets Fund Class R6 (ODVIX) has a higher volatility of 6.62% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.61%. This indicates that ODVIX'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.

Volatility by Period

	ODVIX	VWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	5.61%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	13.76%	13.22%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	15.89%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	17.37%	+0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	19.20%	-1.31%

ODVIX vs. VWO - Expense Ratio Comparison

ODVIX has a 0.88% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

ODVIX vs. VWO - Dividend Comparison

ODVIX's dividend yield for the trailing twelve months is around 35.20%, more than VWO's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODVIX Invesco Developing Markets Fund Class R6	35.20%	43.65%	0.42%	0.95%	1.18%	5.56%	0.35%	2.61%	0.80%	0.73%	0.72%	0.99%
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

Can I hold both ODVIX and VWO in my portfolio?

ODVIX and VWO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODVIX or VWO?

ODVIX has higher volatility (6.62%) compared to VWO (5.61%). In terms of maximum drawdown, ODVIX dropped -45.88% vs VWO's -67.68%.

Which has better risk-adjusted returns?

ODVIX currently has the higher Sharpe Ratio (2.96 vs 1.94), 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.