ODVIX vs. VWO

Last updated Aug 1, 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 7.17%/yr vs 7.86%/yr for VWO. Their correlation of 0.89 means they have usually moved in the same direction. 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 15.60% return, which is significantly higher than VWO's 9.41% return. Over the past 10 years, ODVIX has underperformed VWO with an annualized return of 7.17%, while VWO has yielded a comparatively higher 7.86% annualized return.

ODVIX

• 1D: 3.15%
• 1M: 1.47%
• 6M: 7.27%
• YTD: 15.60%
• 1Y: 35.83%
• 3Y*: 12.15%
• 5Y*: 3.23%
• 10Y*: 7.17%
• ALL TIME*: 6.06%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ODVIX Invesco Developing Markets Fund Class R6	$0.00	$0.00	$0.00
VWO Vanguard FTSE Emerging Markets ETF	$386.61M	$469.40M	$499.89M

ODVIX vs. VWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODVIX Invesco Developing Markets Fund Class R6	15.60%	28.84%	-0.98%	11.55%	-24.85%	-7.17%	17.66%	24.58%	-11.78%	35.33%
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 ODVIX and VWO is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Dec 29, 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 historical risk-adjusted metric ranks over the past 12 months.

ODVIX

ODVIX Risk / Return Rank: 74
ODVIX Sharpe Ratio Rank: 75
ODVIX Sortino Ratio Rank: 69
ODVIX Omega Ratio Rank: 74
ODVIX Calmar Ratio Rank: 83
ODVIX Martin Ratio Rank: 68

VWO

VWO Risk / Return Rank: 51
VWO Sharpe Ratio Rank: 49
VWO Sortino Ratio Rank: 48
VWO Omega Ratio Rank: 49
VWO Calmar Ratio Rank: 54
VWO Martin Ratio Rank: 53

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.

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.

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.

	ODVIX	VWO	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.20	+0.51
Sortino ratio: Return per unit of downside risk	2.32	1.72	+0.60
Omega ratio: Gain probability vs. loss probability	1.32	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	2.77	1.89	+0.87
Martin ratio: Return relative to average drawdown	8.34	6.16	+2.18

ODVIX vs. VWO - Sharpe Ratio Comparison

The current ODVIX Sharpe Ratio is 1.72, which is higher than the VWO Sharpe Ratio of 1.20. 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.

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	-41.42%	-30.88%	-10.54%
Max Drawdown (10Y) Largest decline over 10 years	-45.88%	-36.39%	-9.49%
Current Drawdown Current decline from peak	-6.77%	-4.07%	-2.70%
Average Drawdown Average peak-to-trough decline	-14.48%	-15.73%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	3.43%	+0.56%

Volatility

ODVIX vs. VWO - Volatility Comparison

Invesco Developing Markets Fund Class R6 (ODVIX) has a higher volatility of 6.53% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.58%. 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	6.53%	5.58%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	16.97%	15.22%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	19.44%	17.58%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	17.56%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	19.17%	-1.09%

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 37.76%, more than VWO's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODVIX Invesco Developing Markets Fund Class R6	37.76%	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	2.35%	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

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 (6.53%) compared to VWO (5.58%). 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 (1.72 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.