VNAM vs. EVLU

Last updated Aug 4, 2026

VNAM (Global X MSCI Vietnam ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - VNAM tracks the MSCI Vietnam Select 25/50 Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, VNAM returned 21.90% vs 54.31% for EVLU. Their 0.22 correlation means their historical movements had little consistent relationship. VNAM charges 0.51%/yr vs 0.35%/yr for EVLU.

Performance

VNAM vs. EVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Vietnam ETF (VNAM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNAM achieves a -4.11% return, which is significantly lower than EVLU's 27.72% return.

VNAM

• 1D: 1.90%
• 1M: -4.51%
• 6M: -1.40%
• YTD: -4.11%
• 1Y: 21.90%
• 3Y*: 10.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.00%

EVLU

• 1D: 1.05%
• 1M: 1.55%
• 6M: 17.67%
• YTD: 27.72%
• 1Y: 54.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.77%

*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)
EVLU iShares MSCI Emerging Markets Value Factor ETF	$177.11K	$141.92K	$126.02K
VNAM Global X MSCI Vietnam ETF	$333.97K	$254.89K	$282.03K

VNAM vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VNAM Global X MSCI Vietnam ETF	-4.11%	67.05%	-6.73%
EVLU iShares MSCI Emerging Markets Value Factor ETF	27.72%	38.54%	1.21%

Correlation

The correlation between VNAM and EVLU is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.22

Return for Risk

VNAM vs. EVLU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VNAM

VNAM Risk / Return Rank: 33
VNAM Sharpe Ratio Rank: 32
VNAM Sortino Ratio Rank: 34
VNAM Omega Ratio Rank: 32
VNAM Calmar Ratio Rank: 36
VNAM Martin Ratio Rank: 32

EVLU

EVLU Risk / Return Rank: 90
EVLU Sharpe Ratio Rank: 94
EVLU Sortino Ratio Rank: 91
EVLU Omega Ratio Rank: 91
EVLU Calmar Ratio Rank: 91
EVLU Martin Ratio Rank: 84

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.

VNAM vs. EVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Vietnam ETF (VNAM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.

	VNAM	EVLU	Difference
Sharpe ratio: Return per unit of total volatility	0.81	2.61	-1.80
Sortino ratio: Return per unit of downside risk	1.32	3.32	-2.00
Omega ratio: Gain probability vs. loss probability	1.15	1.45	-0.30
Calmar ratio: Return relative to maximum drawdown	1.28	4.23	-2.95
Martin ratio: Return relative to average drawdown	3.09	12.22	-9.13

VNAM vs. EVLU - Sharpe Ratio Comparison

The current VNAM Sharpe Ratio is 0.81, which is lower than the EVLU Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of VNAM and EVLU, 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

VNAM vs. EVLU - Drawdown Comparison

The maximum VNAM drawdown since its inception was -52.84%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for VNAM and EVLU.

Drawdown Indicators

	VNAM	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-52.84%	-17.17%	-35.67%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-12.90%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	—	—
Current Drawdown Current decline from peak	-10.61%	-6.86%	-3.75%
Average Drawdown Average peak-to-trough decline	-29.78%	-3.76%	-26.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	4.46%	+2.64%

Volatility

VNAM vs. EVLU - Volatility Comparison

Global X MSCI Vietnam ETF (VNAM) has a higher volatility of 8.41% compared to iShares MSCI Emerging Markets Value Factor ETF (EVLU) at 6.42%. This indicates that VNAM's price experiences larger fluctuations and is considered to be riskier than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNAM	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.41%	6.42%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	18.35%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	27.15%	20.92%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.57%	20.36%	+5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.57%	20.36%	+5.21%

VNAM vs. EVLU - Expense Ratio Comparison

VNAM has a 0.51% expense ratio, which is higher than EVLU's 0.35% expense ratio.

Dividends

VNAM vs. EVLU - Dividend Comparison

VNAM's dividend yield for the trailing twelve months is around 0.51%, less than EVLU's 3.81% yield.

Position	TTM	2025	2024	2023	2022	2021
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.81%	5.20%	1.03%	0.00%	0.00%	0.00%
VNAM Global X MSCI Vietnam ETF	0.51%	0.50%	1.00%	0.49%	1.04%	0.13%

Frequently Asked Questions

Can I hold both VNAM and EVLU in my portfolio?

VNAM and EVLU have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNAM or EVLU?

VNAM has higher volatility (8.41%) compared to EVLU (6.42%). In terms of maximum drawdown, VNAM dropped -52.84% vs EVLU's -17.17%.

Which ETF is better, VNAM or EVLU?

On 1-year performance, EVLU leads with 54.31% vs 21.90% for VNAM. On fees, EVLU is cheaper at 0.35% per year. On volatility, EVLU has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNAM or EVLU?

Over the 1-year period, EVLU has performed better with a 54.31% return vs 21.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNAM or EVLU?

EVLU is cheaper with a 0.35% expense ratio, compared with 0.51% for VNAM.

Which ETF pays a higher dividend yield, VNAM or EVLU?

EVLU has the higher dividend yield at 3.81%, compared with 0.51% for VNAM.

What is the main difference between VNAM and EVLU?

VNAM tracks MSCI Vietnam Select 25/50 Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: Global X and iShares. Their fees differ too: 0.51% for VNAM and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (2.61 vs 0.81), 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.