VAPX.AS vs. EEMA

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS) and iShares MSCI Emerging Markets Asia ETF (EEMA).

VAPX.AS and EEMA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAPX.AS is a passively managed fund by Vanguard that tracks the performance of the MSCI AC Asia Pac Ex JPN NR USD. It was launched on May 21, 2013. EEMA is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Asia Index. It was launched on Feb 8, 2012. Both VAPX.AS and EEMA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VAPX.AS vs. EEMA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS) and iShares MSCI Emerging Markets Asia ETF (EEMA). The values are adjusted to include any dividend payments, if applicable.

VAPX.AS vs. EEMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAPX.AS Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF	16.65%	24.27%	0.59%	6.01%	-7.19%	8.72%	8.76%	18.36%	-10.39%	15.47%
EEMA iShares MSCI Emerging Markets Asia ETF	4.13%	17.45%	17.51%	3.37%	-16.62%	2.95%	14.86%	21.28%	-11.81%	25.78%

Different Trading Currencies

VAPX.AS is traded in EUR, while EEMA is traded in USD. To make them comparable, the EEMA values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VAPX.AS achieves a 16.65% return, which is significantly higher than EEMA's 4.13% return. Over the past 10 years, VAPX.AS has outperformed EEMA with an annualized return of 9.12%, while EEMA has yielded a comparatively lower 8.24% annualized return.

VAPX.AS

• 1D: 4.98%
• 1M: -7.04%
• YTD: 16.65%
• 6M: 26.38%
• 1Y: 46.19%
• 3Y*: 15.09%
• 5Y*: 7.41%
• 10Y*: 9.12%

EEMA

• 1D: 0.61%
• 1M: -6.91%
• YTD: 4.13%
• 6M: 6.90%
• 1Y: 23.30%
• 3Y*: 12.77%
• 5Y*: 3.36%
• 10Y*: 8.24%

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

VAPX.AS vs. EEMA - Expense Ratio Comparison

VAPX.AS has a 0.15% expense ratio, which is lower than EEMA's 0.50% expense ratio.

EEMA

iShares MSCI Emerging Markets Asia ETF

VAPX.AS

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF

Return for Risk

VAPX.AS vs. EEMA — Risk / Return Rank

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

VAPX.AS

VAPX.AS Risk / Return Rank: 95
VAPX.AS Sharpe Ratio Rank: 93
VAPX.AS Sortino Ratio Rank: 93
VAPX.AS Omega Ratio Rank: 94
VAPX.AS Calmar Ratio Rank: 96
VAPX.AS Martin Ratio Rank: 97

EEMA

EEMA Risk / Return Rank: 78
EEMA Sharpe Ratio Rank: 79
EEMA Sortino Ratio Rank: 79
EEMA Omega Ratio Rank: 77
EEMA Calmar Ratio Rank: 78
EEMA Martin Ratio Rank: 75

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.

VAPX.AS vs. EEMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS) and iShares MSCI Emerging Markets Asia ETF (EEMA). 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.

	VAPX.AS	EEMA	Difference
Sharpe ratio Return per unit of total volatility	2.28	1.09	+1.19
Sortino ratio Return per unit of downside risk	2.88	1.59	+1.29
Omega ratio Gain probability vs. loss probability	1.45	1.22	+0.22
Calmar ratio Return relative to maximum drawdown	4.80	1.67	+3.13
Martin ratio Return relative to average drawdown	19.98	5.96	+14.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAPX.AS vs. EEMA - Sharpe Ratio Comparison

The current VAPX.AS Sharpe Ratio is 2.28, which is higher than the EEMA Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of VAPX.AS and EEMA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VAPX.AS	EEMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.09	+1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.18	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.41	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.35	+0.08

Correlation

The correlation between VAPX.AS and EEMA is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VAPX.AS vs. EEMA - Dividend Comparison

VAPX.AS's dividend yield for the trailing twelve months is around 1.99%, more than EEMA's 1.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAPX.AS Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF	1.99%	2.41%	3.16%	3.28%	4.23%	2.95%	1.80%	2.96%	3.03%	2.78%	2.57%	3.20%
EEMA iShares MSCI Emerging Markets Asia ETF	1.44%	1.48%	1.74%	2.02%	1.78%	2.19%	1.15%	1.86%	2.17%	1.74%	1.74%	2.44%

Drawdowns

VAPX.AS vs. EEMA - Drawdown Comparison

The maximum VAPX.AS drawdown since its inception was -36.99%, roughly equal to the maximum EEMA drawdown of -36.20%. Use the drawdown chart below to compare losses from any high point for VAPX.AS and EEMA.

Drawdown Indicators

	VAPX.AS	EEMA	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-44.18%	+7.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-14.30%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-19.68%	-40.87%	+21.19%
Max Drawdown (10Y) Largest decline over 10 years	-36.99%	-44.18%	+7.19%
Current Drawdown Current decline from peak	-8.63%	-10.61%	+1.98%
Average Drawdown Average peak-to-trough decline	-6.64%	-14.11%	+7.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	3.81%	-0.70%

Volatility

VAPX.AS vs. EEMA - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS) has a higher volatility of 9.36% compared to iShares MSCI Emerging Markets Asia ETF (EEMA) at 8.13%. This indicates that VAPX.AS's price experiences larger fluctuations and is considered to be riskier than EEMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAPX.AS	EEMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.36%	8.13%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	15.36%	14.65%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	21.50%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.71%	18.39%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	19.96%	-2.56%