VNAM vs. TUR

Last updated Jun 4, 2026

VNAM (Global X MSCI Vietnam ETF) and TUR (iShares MSCI Turkey ETF) are both Emerging Markets Equities funds - VNAM tracks the MSCI Vietnam Select 25/50 Index while TUR tracks the MSCI Turkey Investable Market Index. Both are passively managed. Over the past 3 years, VNAM returned 16.20%/yr vs 10.24%/yr for TUR. At a 0.12 correlation, their price movements are largely independent. VNAM charges 0.51%/yr vs 0.59%/yr for TUR.

Performance

VNAM vs. TUR - Performance Comparison

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

Returns By Period

In the year-to-date period, VNAM achieves a -2.39% return, which is significantly lower than TUR's 13.80% return.

VNAM

• 1D: -0.41%
• 1M: -5.03%
• YTD: -2.39%
• 6M: 1.38%
• 1Y: 42.45%
• 3Y*: 16.20%
• 5Y*: —
• 10Y*: —

TUR

• 1D: -2.34%
• 1M: -6.69%
• YTD: 13.80%
• 6M: 16.84%
• 1Y: 30.29%
• 3Y*: 10.24%
• 5Y*: 14.80%
• 10Y*: 2.47%

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

VNAM vs. TUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VNAM Global X MSCI Vietnam ETF	-2.39%	67.05%	-7.78%	12.95%	-44.16%	2.41%
TUR iShares MSCI Turkey ETF	13.80%	-1.54%	12.91%	-8.83%	105.75%	-5.15%

Correlation

The correlation between VNAM and TUR is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021	0.12

VNAM vs. TUR - Sectors Allocation Comparison

Sectors	VNAM	TUR
Real Estate	38.6%	1.2%
Financial Services	25.5%	15.3%
Industrials	12.8%	25.7%
Basic Materials	9.0%	11.5%
Consumer Defensive	5.9%	13.7%
Technology	4.7%	0.8%
Energy	1.9%	6.2%
Consumer Cyclical	0.9%	5.0%
Utilities	0.7%	1.7%
Communication Services	-	3.2%
Healthcare	-	2.0%

Return for Risk

VNAM vs. TUR — Risk / Return Rank

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

VNAM

VNAM Risk / Return Rank: 46
VNAM Sharpe Ratio Rank: 46
VNAM Sortino Ratio Rank: 44
VNAM Omega Ratio Rank: 43
VNAM Calmar Ratio Rank: 51
VNAM Martin Ratio Rank: 45

TUR

TUR Risk / Return Rank: 35
TUR Sharpe Ratio Rank: 33
TUR Sortino Ratio Rank: 33
TUR Omega Ratio Rank: 35
TUR Calmar Ratio Rank: 38
TUR Martin Ratio Rank: 36

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.

VNAM vs. TUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Vietnam ETF (VNAM) and iShares MSCI Turkey ETF (TUR). 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.

	VNAM	TUR	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.20	+0.39
Sortino ratio: Return per unit of downside risk	2.21	1.79	+0.42
Omega ratio: Gain probability vs. loss probability	1.28	1.24	+0.04
Calmar ratio: Return relative to maximum drawdown	2.51	1.89	+0.61
Martin ratio: Return relative to average drawdown	7.34	5.67	+1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNAM vs. TUR - Sharpe Ratio Comparison

The current VNAM Sharpe Ratio is 1.59, which is higher than the TUR Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of VNAM and TUR, 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

	VNAM	TUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.20	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.04	-0.06

Drawdowns

VNAM vs. TUR - Drawdown Comparison

The maximum VNAM drawdown since its inception was -52.84%, smaller than the maximum TUR drawdown of -72.34%. Use the drawdown chart below to compare losses from any high point for VNAM and TUR.

Drawdown Indicators

	VNAM	TUR	Difference
Max Drawdown Largest peak-to-trough decline	-52.84%	-72.34%	+19.50%
Max Drawdown (1Y) Largest decline over 1 year	-17.03%	-16.07%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	-31.63%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.25%	—
Current Drawdown Current decline from peak	-9.01%	-28.38%	+19.37%
Average Drawdown Average peak-to-trough decline	-30.54%	-39.90%	+9.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	5.36%	+0.45%

Volatility

VNAM vs. TUR - Volatility Comparison

The current volatility for Global X MSCI Vietnam ETF (VNAM) is 6.74%, while iShares MSCI Turkey ETF (TUR) has a volatility of 14.14%. This indicates that VNAM experiences smaller price fluctuations and is considered to be less risky than TUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNAM	TUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.74%	14.14%	-7.40%
Volatility (6M) Calculated over the trailing 6-month period	19.91%	19.90%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	26.85%	25.40%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.60%	34.16%	-8.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.60%	34.39%	-8.79%

VNAM vs. TUR - Expense Ratio Comparison

VNAM has a 0.51% expense ratio, which is lower than TUR's 0.59% expense ratio.

Dividends

VNAM vs. TUR - Dividend Comparison

VNAM's dividend yield for the trailing twelve months is around 0.51%, less than TUR's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TUR iShares MSCI Turkey ETF	2.11%	2.40%	1.79%	4.43%	1.97%	4.22%	0.87%	3.29%	4.05%	2.64%	2.89%	3.04%
VNAM Global X MSCI Vietnam ETF	0.51%	0.50%	1.00%	0.49%	1.04%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VNAM and TUR in my portfolio?

VNAM and TUR have a correlation of 0.15, 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 TUR?

TUR has higher volatility (14.14%) compared to VNAM (6.74%). In terms of maximum drawdown, VNAM dropped -52.84% vs TUR's -72.34%.

Which ETF is better, VNAM or TUR?

On 3-year performance, VNAM leads with 16.20% vs 10.24% for TUR. On fees, VNAM is cheaper at 0.51% per year. On volatility, VNAM has been the lower-risk option at 6.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNAM or TUR?

Over the 3-year period, VNAM has performed better with a 16.20% return vs 10.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNAM or TUR?

VNAM is cheaper with a 0.51% expense ratio, compared with 0.59% for TUR.

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

TUR has the higher dividend yield at 2.11%, compared with 0.51% for VNAM.

What is the main difference between VNAM and TUR?

VNAM tracks MSCI Vietnam Select 25/50 Index, while TUR tracks MSCI Turkey Investable Market Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.51% for VNAM and 0.59% for TUR.

Which has better risk-adjusted returns?

VNAM currently has the higher Sharpe Ratio (1.59 vs 1.20), 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.