VNAM vs. VNM

Last updated Jun 24, 2026

VNAM (Global X MSCI Vietnam ETF) and VNM (VanEck Vectors Vietnam ETF) are both exchange-traded funds - VNAM is a Emerging Markets Equities fund tracking the MSCI Vietnam Select 25/50 Index, while VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index. Both are passively managed. Over the past 3 years, VNAM returned 15.09%/yr vs 12.37%/yr for VNM. Their correlation of 0.90 suggests significant overlap in exposure. VNAM charges 0.51%/yr vs 0.68%/yr for VNM.

Performance

VNAM vs. VNM - Performance Comparison

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

Returns By Period

In the year-to-date period, VNAM achieves a 0.20% return, which is significantly higher than VNM's -4.66% return.

VNAM

• 1D: -0.79%
• 1M: -2.33%
• YTD: 0.20%
• 6M: -0.72%
• 1Y: 49.37%
• 3Y*: 15.09%
• 5Y*: —
• 10Y*: —

VNM

• 1D: -2.47%
• 1M: -2.99%
• YTD: -4.66%
• 6M: -4.66%
• 1Y: 36.03%
• 3Y*: 12.37%
• 5Y*: -0.63%
• 10Y*: 3.81%

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

VNAM vs. VNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VNAM Global X MSCI Vietnam ETF	0.20%	67.05%	-7.78%	12.95%	-44.16%	2.41%
VNM VanEck Vectors Vietnam ETF	-4.66%	66.55%	-11.15%	15.01%	-43.74%	3.12%

Correlation

The correlation between VNAM and VNM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.90

The correlation between VNAM and VNM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

VNAM vs. VNM - Sectors Allocation Comparison

Sectors	VNAM	VNM
Real Estate	38.3%	31.5%
Financial Services	26.2%	28.1%
Industrials	12.8%	14.9%
Basic Materials	8.6%	7.5%
Consumer Defensive	5.9%	13.9%
Technology	4.6%	1.7%
Energy	2.0%	1.2%
Consumer Cyclical	0.8%	-
Utilities	0.8%	1.1%
Communication Services	-	-
Healthcare	-	-

Return for Risk

VNAM vs. VNM — Risk / Return Rank

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

VNAM

VNAM Risk / Return Rank: 56
VNAM Sharpe Ratio Rank: 59
VNAM Sortino Ratio Rank: 56
VNAM Omega Ratio Rank: 52
VNAM Calmar Ratio Rank: 63
VNAM Martin Ratio Rank: 51

VNM

VNM Risk / Return Rank: 39
VNM Sharpe Ratio Rank: 40
VNM Sortino Ratio Rank: 40
VNM Omega Ratio Rank: 36
VNM Calmar Ratio Rank: 44
VNM 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. VNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Vietnam ETF (VNAM) and VanEck Vectors Vietnam ETF (VNM). 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	VNM	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.35	+0.48
Sortino ratio: Return per unit of downside risk	2.48	1.96	+0.52
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.08
Calmar ratio: Return relative to maximum drawdown	2.91	2.12	+0.79
Martin ratio: Return relative to average drawdown	8.12	5.20	+2.92

VNAM vs. VNM - Sharpe Ratio Comparison

The current VNAM Sharpe Ratio is 1.83, which is higher than the VNM Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of VNAM and VNM, 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. VNM - Drawdown Comparison

The maximum VNAM drawdown since its inception was -52.84%, smaller than the maximum VNM drawdown of -63.19%. Use the drawdown chart below to compare losses from any high point for VNAM and VNM.

Drawdown Indicators

	VNAM	VNM	Difference
Max Drawdown Largest peak-to-trough decline	-52.84%	-63.19%	+10.35%
Max Drawdown (1Y) Largest decline over 1 year	-17.03%	-17.07%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-31.34%	-31.60%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-49.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.67%	—
Current Drawdown Current decline from peak	-6.60%	-25.75%	+19.15%
Average Drawdown Average peak-to-trough decline	-30.26%	-37.79%	+7.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.09%	6.94%	-0.85%

Volatility

VNAM vs. VNM - Volatility Comparison

Global X MSCI Vietnam ETF (VNAM) and VanEck Vectors Vietnam ETF (VNM) have volatilities of 6.03% and 6.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNAM	VNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	6.18%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	19.72%	18.26%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	27.11%	26.90%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.56%	24.35%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.56%	23.46%	+2.10%

VNAM vs. VNM - Expense Ratio Comparison

VNAM has a 0.51% expense ratio, which is lower than VNM's 0.68% expense ratio.

Dividends

VNAM vs. VNM - Dividend Comparison

VNAM's dividend yield for the trailing twelve months is around 0.49%, more than VNM's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VNAM Global X MSCI Vietnam ETF	0.49%	0.50%	1.00%	0.49%	1.04%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNM VanEck Vectors Vietnam ETF	0.21%	0.20%	0.00%	5.21%	0.96%	0.49%	0.40%	0.76%	0.83%	1.14%	2.44%	3.69%

Frequently Asked Questions

Can I hold both VNAM and VNM in my portfolio?

With a correlation of 0.92, VNAM and VNM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VNAM or VNM?

VNM has higher volatility (6.18%) compared to VNAM (6.03%). In terms of maximum drawdown, VNAM dropped -52.84% vs VNM's -63.19%.

Which ETF is better, VNAM or VNM?

On 3-year performance, VNAM leads with 15.09% vs 12.37% for VNM. On fees, VNAM is cheaper at 0.51% per year. On volatility, VNAM has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNAM or VNM?

Over the 3-year period, VNAM has performed better with a 15.09% return vs 12.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNAM or VNM?

VNAM is cheaper with a 0.51% expense ratio, compared with 0.68% for VNM.

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

VNAM has the higher dividend yield at 0.49%, compared with 0.21% for VNM.

What is the main difference between VNAM and VNM?

VNAM is categorized as Emerging Markets Equities, while VNM is Asia Pacific Equities. VNAM tracks MSCI Vietnam Select 25/50 Index, while VNM tracks MVIS Vietnam Index. They also come from different issuers: Global X and VanEck. Their fees differ too: 0.51% for VNAM and 0.68% for VNM.

Which has better risk-adjusted returns?

VNAM currently has the higher Sharpe Ratio (1.83 vs 1.35), 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.