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USD=X vs. VWO
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. VWO

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while VWO (Vanguard FTSE Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE Emerging Index. Over the past 10 years, USD=X returned 0.00%/yr vs 8.60%/yr for VWO.

Performance

USD=X vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

VWO

1D
0.52%
1M
-3.65%
YTD
8.50%
6M
9.73%
1Y
24.29%
3Y*
16.22%
5Y*
4.65%
10Y*
8.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. VWO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VWO
Vanguard FTSE Emerging Markets ETF		8.50%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%31.49%

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USD Cash

Vanguard FTSE Emerging Markets ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX

Return for Risk

USD=X vs. VWO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
VWO
VWO Risk / Return Rank: 4949
Overall Rank
VWO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4747
Sortino Ratio Rank
VWO Omega Ratio Rank: 5050
Omega Ratio Rank
VWO Calmar Ratio Rank: 4949
Calmar Ratio Rank
VWO Martin Ratio Rank: 5151
Martin Ratio Rank
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.

USD=X vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

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

USD=X vs. VWO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XVWODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.49

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.27

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.45

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.26

—

Drawdowns

USD=X vs. VWO - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for USD=X and VWO.

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Drawdown Indicators

USD=XVWODifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-67.68%

+67.68%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-11.17%

+11.17%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-17.37%

+17.37%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-32.60%

+32.60%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-36.39%

+36.39%

Current Drawdown

Current decline from peak

0.00%

-4.67%

+4.67%

Average Drawdown

Average peak-to-trough decline

0.00%

-15.81%

+15.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

3.12%

-3.12%

Volatility

USD=X vs. VWO - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 6.29%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky 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

USD=XVWODifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

6.29%

-6.29%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

13.80%

-13.80%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

16.37%

-16.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

17.45%

-17.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

19.23%

-19.23%

Frequently Asked Questions

VWO has higher volatility (6.29%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs VWO's -67.68%.

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