PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VEE.TO vs. EMGF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEE.TO vs. EMGF

Last updated Jun 24, 2026

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) are both Emerging Markets Equities funds - VEE.TO tracks the FTSE Emerging Markets All Cap China A Inclusion Index while EMGF tracks the MSCI Emerging Markets Diversified Multiple-Factor Index. Both are passively managed. Over the past 10 years, VEE.TO returned 9.30%/yr vs 12.35%/yr for EMGF. A 0.74 correlation means they provide meaningful diversification when combined. VEE.TO charges 0.25%/yr vs 0.45%/yr for EMGF.

Performance

VEE.TO vs. EMGF - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

VEE.TO is traded in CAD, while EMGF is traded in USD. To make them comparable, the EMGF values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEE.TO achieves a 14.29% return, which is significantly lower than EMGF's 30.03% return. Over the past 10 years, VEE.TO has underperformed EMGF with an annualized return of 9.30%, while EMGF has yielded a comparatively higher 12.35% annualized return.

VEE.TO

1D
-2.71%
1M
3.73%
YTD
14.29%
6M
14.83%
1Y
30.69%
3Y*
19.62%
5Y*
7.45%
10Y*
9.30%

EMGF

1D
-5.52%
1M
5.65%
YTD
30.03%
6M
30.69%
1Y
50.90%
3Y*
28.66%
5Y*
13.11%
10Y*
12.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEE.TO vs. EMGF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		14.29%19.32%19.06%6.24%-12.79%0.06%12.32%14.32%-7.93%22.60%
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		30.03%25.41%18.30%8.22%-11.26%6.59%7.65%15.98%-12.96%32.73%

Correlation

The correlation between VEE.TO and EMGF is 0.79, 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

0.79

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (10Y)
Calculated over the trailing 10-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Dec 10, 2015

0.74

The correlation between VEE.TO and EMGF has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

VEE.TO vs. EMGF - Sectors Allocation Comparison

Sectors
VEE.TO
EMGF

Technology

26.3%
41.4%

Financial Services

20.5%
17.4%

Consumer Cyclical

11.2%
9.6%

Basic Materials

8.4%
5.3%

Industrials

7.9%
7.2%

Communication Services

7.8%
6.5%

Energy

4.7%
3.6%

Healthcare

4.1%
2.4%

Consumer Defensive

3.9%
3.4%

Utilities

3.0%
2.3%

Real Estate

2.3%
1.0%

Technology

VEE.TO
26.3%
EMGF
41.4%

Financial Services

VEE.TO
20.5%
EMGF
17.4%

Consumer Cyclical

VEE.TO
11.2%
EMGF
9.6%

Basic Materials

VEE.TO
8.4%
EMGF
5.3%

Industrials

VEE.TO
7.9%
EMGF
7.2%

Communication Services

VEE.TO
7.8%
EMGF
6.5%

Energy

VEE.TO
4.7%
EMGF
3.6%

Healthcare

VEE.TO
4.1%
EMGF
2.4%

Consumer Defensive

VEE.TO
3.9%
EMGF
3.4%

Utilities

VEE.TO
3.0%
EMGF
2.3%

Real Estate

VEE.TO
2.3%
EMGF
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Emerging Markets All Cap Index ETF

iShares Edge MSCI Multifactor Emerging Markets ETF

Often compared with VEE.TO:
VEE.TO vs. XEC.TOVEE.TO vs. ZEM.TOVEE.TO vs. VFV.TOVEE.TO vs. XEQT.TOVEE.TO vs. VIDY.TOVEE.TO vs. VOOVEE.TO vs. VXUS
Often compared with EMGF:
EMGF vs. EEMEMGF vs. SPEMEMGF vs. AVESEMGF vs. FDEMEMGF vs. VWOEMGF vs. XCEMEMGF vs. SPY

Return for Risk

VEE.TO vs. EMGF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEE.TO
VEE.TO Risk / Return Rank: 6060
Overall Rank
VEE.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
VEE.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
VEE.TO Omega Ratio Rank: 6161
Omega Ratio Rank
VEE.TO Calmar Ratio Rank: 6161
Calmar Ratio Rank
VEE.TO Martin Ratio Rank: 6060
Martin Ratio Rank
EMGF
EMGF Risk / Return Rank: 6868
Overall Rank
EMGF Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
EMGF Sortino Ratio Rank: 6060
Sortino Ratio Rank
EMGF Omega Ratio Rank: 7070
Omega Ratio Rank
EMGF Calmar Ratio Rank: 7272
Calmar Ratio Rank
EMGF Martin Ratio Rank: 7272
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.

VEE.TO vs. EMGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). 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.

VEE.TOEMGFDifference
Sharpe ratioReturn per unit of total volatility
1.89
2.23

-0.34

Sortino ratioReturn per unit of downside risk
2.61
2.87

-0.26

Omega ratioGain probability vs. loss probability

1.36

1.41

-0.05

Calmar ratioReturn relative to maximum drawdown

2.87

4.16

-1.29

Martin ratioReturn relative to average drawdown

10.24

14.40

-4.16

VEE.TO vs. EMGF - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 1.89, which is comparable to the EMGF Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of VEE.TO and EMGF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

VEE.TO vs. EMGF - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, smaller than the maximum EMGF drawdown of -32.40%. Use the drawdown chart below to compare losses from any high point for VEE.TO and EMGF.

Loading charts...

Drawdown Indicators

VEE.TOEMGFDifference

Max Drawdown

Largest peak-to-trough decline

-29.84%

-32.40%

+2.56%

Max Drawdown (1Y)

Largest decline over 1 year

-10.74%

-12.28%

+1.54%

Max Drawdown (3Y)

Largest decline over 3 years

-14.97%

-15.01%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-26.10%

-22.32%

-3.78%

Max Drawdown (10Y)

Largest decline over 10 years

-29.84%

-32.40%

+2.56%

Current Drawdown

Current decline from peak

-2.71%

-5.52%

+2.81%

Average Drawdown

Average peak-to-trough decline

-8.70%

-8.09%

-0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

3.55%

-0.55%

Volatility

VEE.TO vs. EMGF - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) is 6.87%, while iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a volatility of 12.95%. This indicates that VEE.TO experiences smaller price fluctuations and is considered to be less risky than EMGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VEE.TOEMGFDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.87%

12.95%

-6.08%

Volatility (6M)

Calculated over the trailing 6-month period

14.15%

21.08%

-6.93%

Volatility (1Y)

Calculated over the trailing 1-year period

16.32%

23.00%

-6.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.52%

19.35%

-3.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.00%

20.71%

-3.71%

VEE.TO vs. EMGF - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than EMGF's 0.45% expense ratio.

Dividends

VEE.TO vs. EMGF - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.82%, less than EMGF's 2.00% yield.

PositionTTM20252024202320222021202020192018201720162015
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		2.00%2.52%3.42%5.94%4.04%2.48%1.95%2.63%2.73%1.94%2.04%0.00%
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF		1.82%2.26%2.45%2.83%3.35%2.18%1.62%2.71%2.24%1.93%2.01%2.53%

Frequently Asked Questions

VEE.TO and EMGF have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.45% for EMGF.

VEE.TO tracks FTSE Emerging Markets All Cap China A Inclusion Index, while EMGF tracks MSCI Emerging Markets Diversified Multiple-Factor Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEE.TO and 0.45% for EMGF.

Portfolio Optimizer

Find the right allocation for VEE.TO and EMGF

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer