SPEM vs. VIGI

Last updated Jun 9, 2026

SPEM (SPDR Portfolio Emerging Markets ETF) and VIGI (Vanguard International Dividend Appreciation ETF) are both exchange-traded funds - SPEM is a Emerging Markets Equities fund tracking the S&P Emerging Markets BMI, while VIGI is a Dividend fund tracking the S&P Global Ex-U.S. Dividend Growers Index. Both are passively managed. Over the past 10 years, SPEM returned 9.23%/yr vs 7.98%/yr for VIGI. A 0.79 correlation means they provide meaningful diversification when combined. SPEM charges 0.11%/yr vs 0.15%/yr for VIGI.

Performance

SPEM vs. VIGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Emerging Markets ETF (SPEM) and Vanguard International Dividend Appreciation ETF (VIGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPEM achieves a 8.69% return, which is significantly higher than VIGI's 2.47% return. Over the past 10 years, SPEM has outperformed VIGI with an annualized return of 9.23%, while VIGI has yielded a comparatively lower 7.98% annualized return.

SPEM

• 1D: 0.69%
• 1M: -3.31%
• YTD: 8.69%
• 6M: 10.06%
• 1Y: 24.84%
• 3Y*: 16.86%
• 5Y*: 5.19%
• 10Y*: 9.23%

VIGI

• 1D: 0.03%
• 1M: 0.19%
• YTD: 2.47%
• 6M: 4.07%
• 1Y: 5.29%
• 3Y*: 9.70%
• 5Y*: 4.29%
• 10Y*: 7.98%

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

SPEM vs. VIGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPEM SPDR Portfolio Emerging Markets ETF	8.69%	25.63%	11.40%	10.51%	-17.90%	1.51%	14.55%	19.69%	-13.26%	34.82%
VIGI Vanguard International Dividend Appreciation ETF	2.47%	16.88%	2.73%	16.30%	-16.79%	12.51%	14.66%	27.53%	-11.50%	27.97%

Correlation

The correlation between SPEM and VIGI is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 3, 2016	0.79

The correlation between SPEM and VIGI shifts across timeframes, from 0.68 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

SPEM vs. VIGI - Sectors Allocation Comparison

Sectors	SPEM	VIGI
Technology	28.2%	11.5%
Financial Services	20.2%	29.0%
Consumer Cyclical	10.4%	3.1%
Industrials	8.5%	17.1%
Basic Materials	8.2%	4.1%
Communication Services	7.2%	1.3%
Energy	4.7%	2.8%
Healthcare	4.0%	14.6%
Consumer Defensive	3.9%	9.7%
Utilities	2.8%	4.8%
Real Estate	1.9%	1.3%

Return for Risk

SPEM vs. VIGI — Risk / Return Rank

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

SPEM

SPEM Risk / Return Rank: 49
SPEM Sharpe Ratio Rank: 48
SPEM Sortino Ratio Rank: 47
SPEM Omega Ratio Rank: 50
SPEM Calmar Ratio Rank: 49
SPEM Martin Ratio Rank: 51

VIGI

VIGI Risk / Return Rank: 16
VIGI Sharpe Ratio Rank: 16
VIGI Sortino Ratio Rank: 16
VIGI Omega Ratio Rank: 15
VIGI Calmar Ratio Rank: 16
VIGI Martin Ratio Rank: 18

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.

SPEM vs. VIGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Emerging Markets ETF (SPEM) and Vanguard International Dividend Appreciation ETF (VIGI). 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.

	SPEM	VIGI	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.41	+1.11
Sortino ratio: Return per unit of downside risk	2.10	0.66	+1.44
Omega ratio: Gain probability vs. loss probability	1.29	1.08	+0.21
Calmar ratio: Return relative to maximum drawdown	2.20	0.50	+1.70
Martin ratio: Return relative to average drawdown	7.95	1.75	+6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPEM vs. VIGI - Sharpe Ratio Comparison

The current SPEM Sharpe Ratio is 1.52, which is higher than the VIGI Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of SPEM and VIGI, 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

	SPEM	VIGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	0.41	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.30	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.50	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.53	-0.31

Drawdowns

SPEM vs. VIGI - Drawdown Comparison

The maximum SPEM drawdown since its inception was -64.41%, which is greater than VIGI's maximum drawdown of -31.01%. Use the drawdown chart below to compare losses from any high point for SPEM and VIGI.

Drawdown Indicators

	SPEM	VIGI	Difference
Max Drawdown Largest peak-to-trough decline	-64.41%	-31.01%	-33.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-10.64%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-17.62%	-14.50%	-3.12%
Max Drawdown (5Y) Largest decline over 5 years	-31.76%	-28.80%	-2.96%
Max Drawdown (10Y) Largest decline over 10 years	-36.06%	-31.01%	-5.05%
Current Drawdown Current decline from peak	-4.70%	-2.63%	-2.07%
Average Drawdown Average peak-to-trough decline	-14.74%	-6.17%	-8.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.03%	+0.10%

Volatility

SPEM vs. VIGI - Volatility Comparison

SPDR Portfolio Emerging Markets ETF (SPEM) has a higher volatility of 6.56% compared to Vanguard International Dividend Appreciation ETF (VIGI) at 2.76%. This indicates that SPEM's price experiences larger fluctuations and is considered to be riskier than VIGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPEM	VIGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	2.76%	+3.80%
Volatility (6M) Calculated over the trailing 6-month period	13.95%	10.30%	+3.65%
Volatility (1Y) Calculated over the trailing 1-year period	16.47%	13.09%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	14.45%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	15.89%	+2.95%

SPEM vs. VIGI - Expense Ratio Comparison

SPEM has a 0.11% expense ratio, which is lower than VIGI's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPEM vs. VIGI - Dividend Comparison

SPEM's dividend yield for the trailing twelve months is around 2.55%, more than VIGI's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPEM SPDR Portfolio Emerging Markets ETF	2.55%	2.77%	2.78%	2.80%	3.38%	3.14%	1.92%	2.94%	2.34%	1.12%	1.51%	2.40%
VIGI Vanguard International Dividend Appreciation ETF	2.15%	2.14%	1.93%	1.92%	2.06%	7.02%	1.29%	1.83%	1.99%	1.75%	1.05%	0.00%

Frequently Asked Questions

Can I hold both SPEM and VIGI in my portfolio?

SPEM and VIGI have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPEM or VIGI?

SPEM has higher volatility (6.56%) compared to VIGI (2.76%). In terms of maximum drawdown, SPEM dropped -64.41% vs VIGI's -31.01%.

Which ETF is better, SPEM or VIGI?

On 10-year performance, SPEM leads with 9.23% vs 7.98% for VIGI. On fees, SPEM is cheaper at 0.11% per year. On volatility, VIGI has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPEM or VIGI?

Over the 10-year period, SPEM has performed better with a 9.23% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPEM or VIGI?

SPEM is cheaper with a 0.11% expense ratio, compared with 0.15% for VIGI.

Which ETF pays a higher dividend yield, SPEM or VIGI?

SPEM has the higher dividend yield at 2.55%, compared with 2.15% for VIGI.

What is the main difference between SPEM and VIGI?

SPEM is categorized as Emerging Markets Equities, while VIGI is Dividend. SPEM tracks S&P Emerging Markets BMI, while VIGI tracks S&P Global Ex-U.S. Dividend Growers Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.11% for SPEM and 0.15% for VIGI.

Which has better risk-adjusted returns?

SPEM currently has the higher Sharpe Ratio (1.52 vs 0.41), 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.