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VNM vs. EPHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VNM vs. EPHE

Last updated Jun 13, 2026

VNM (VanEck Vectors Vietnam ETF) and EPHE (iShares MSCI Philippines ETF) are both Asia Pacific Equities funds - VNM tracks the MVIS Vietnam Index while EPHE tracks the MSCI Philippines Investable Market Index. Both are passively managed. Over the past 10 years, VNM returned 3.29%/yr vs -2.82%/yr for EPHE. At a 0.32 correlation, their price movements are largely independent. VNM charges 0.68%/yr vs 0.59%/yr for EPHE.

Performance

VNM vs. EPHE - Performance Comparison

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

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Returns By Period

In the year-to-date period, VNM achieves a -6.66% return, which is significantly lower than EPHE's 0.32% return. Over the past 10 years, VNM has outperformed EPHE with an annualized return of 3.29%, while EPHE has yielded a comparatively lower -2.82% annualized return.

VNM

1D
-1.27%
1M
-8.62%
YTD
-6.66%
6M
2.04%
1Y
37.07%
3Y*
12.11%
5Y*
-0.94%
10Y*
3.29%

EPHE

1D
0.97%
1M
0.81%
YTD
0.32%
6M
1.21%
1Y
-7.80%
3Y*
0.90%
5Y*
-3.02%
10Y*
-2.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VNM vs. EPHE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VNM
VanEck Vectors Vietnam ETF		-6.66%66.55%-11.15%15.01%-43.74%22.05%9.84%9.24%-16.83%38.80%
EPHE
iShares MSCI Philippines ETF		0.32%1.56%-1.41%1.27%-15.87%-2.23%-3.95%8.50%-17.50%20.20%

Correlation

The correlation between VNM and EPHE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

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

0.17

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

0.20

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

0.29

Correlation (All Time)
Calculated using the full available price history since Sep 29, 2010

0.32

The correlation between VNM and EPHE shifts across timeframes, from 0.12 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

VNM vs. EPHE - Sectors Allocation Comparison

Sectors
VNM
EPHE

Real Estate

31.4%
10.7%

Financial Services

27.5%
17.3%

Industrials

14.9%
32.0%

Consumer Defensive

14.4%
4.6%

Basic Materials

7.9%
1.0%

Technology

1.7%

-

Energy

1.2%
1.3%

Utilities

1.0%
14.3%

Communication Services

-

5.3%

Consumer Cyclical

-

13.6%

Healthcare

-

-

Real Estate

VNM
31.4%
EPHE
10.7%

Financial Services

VNM
27.5%
EPHE
17.3%

Industrials

VNM
14.9%
EPHE
32.0%

Consumer Defensive

VNM
14.4%
EPHE
4.6%

Basic Materials

VNM
7.9%
EPHE
1.0%

Technology

VNM
1.7%
EPHE

-

Energy

VNM
1.2%
EPHE
1.3%

Utilities

VNM
1.0%
EPHE
14.3%

Communication Services

VNM

-

EPHE
5.3%

Consumer Cyclical

VNM

-

EPHE
13.6%

Healthcare

VNM

-

EPHE

-

Compare stocks, funds, or ETFs

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

VanEck Vectors Vietnam ETF

iShares MSCI Philippines ETF

Often compared with VNM:
VNM vs. VOOVNM vs. INDAVNM vs. IDXVNM vs. SPYVNM vs. VNAMVNM vs. VXUSVNM vs. EMXC
Often compared with EPHE:
EPHE vs. VOOEPHE vs. EWYEPHE vs. EIDOEPHE vs. VTEPHE vs. VTIEPHE vs. VXUSEPHE vs. GOVT

Return for Risk

VNM vs. EPHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VNM
VNM Risk / Return Rank: 4040
Overall Rank
VNM Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
VNM Sortino Ratio Rank: 4040
Sortino Ratio Rank
VNM Omega Ratio Rank: 3737
Omega Ratio Rank
VNM Calmar Ratio Rank: 4545
Calmar Ratio Rank
VNM Martin Ratio Rank: 3636
Martin Ratio Rank
EPHE
EPHE Risk / Return Rank: 55
Overall Rank
EPHE Sharpe Ratio Rank: 55
Sharpe Ratio Rank
EPHE Sortino Ratio Rank: 55
Sortino Ratio Rank
EPHE Omega Ratio Rank: 55
Omega Ratio Rank
EPHE Calmar Ratio Rank: 55
Calmar Ratio Rank
EPHE Martin Ratio Rank: 55
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.

VNM vs. EPHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and iShares MSCI Philippines ETF (EPHE). 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.

VNMEPHEDifference
Sharpe ratioReturn per unit of total volatility
1.26
-0.49

+1.75

Sortino ratioReturn per unit of downside risk
1.85
-0.59

+2.45

Omega ratioGain probability vs. loss probability

1.22

0.94

+0.29

Calmar ratioReturn relative to maximum drawdown

1.98

-0.58

+2.56

Martin ratioReturn relative to average drawdown

4.93

-1.06

+5.99

VNM vs. EPHE - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 1.26, which is higher than the EPHE Sharpe Ratio of -0.49. The chart below compares the historical Sharpe Ratios of VNM and EPHE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VNM vs. EPHE - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, which is greater than EPHE's maximum drawdown of -53.82%. Use the drawdown chart below to compare losses from any high point for VNM and EPHE.

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Drawdown Indicators

VNMEPHEDifference

Max Drawdown

Largest peak-to-trough decline

-63.19%

-53.82%

-9.37%

Max Drawdown (1Y)

Largest decline over 1 year

-17.07%

-15.90%

-1.17%

Max Drawdown (3Y)

Largest decline over 3 years

-31.60%

-21.42%

-10.18%

Max Drawdown (5Y)

Largest decline over 5 years

-49.95%

-32.96%

-16.99%

Max Drawdown (10Y)

Largest decline over 10 years

-51.67%

-51.62%

-0.05%

Current Drawdown

Current decline from peak

-27.30%

-33.66%

+6.36%

Average Drawdown

Average peak-to-trough decline

-37.81%

-21.00%

-16.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.83%

9.28%

-2.45%

Volatility

VNM vs. EPHE - Volatility Comparison

VanEck Vectors Vietnam ETF (VNM) and iShares MSCI Philippines ETF (EPHE) have volatilities of 4.95% and 4.96%, 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.

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Volatility by Period

VNMEPHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.95%

4.96%

-0.01%

Volatility (6M)

Calculated over the trailing 6-month period

18.57%

13.49%

+5.08%

Volatility (1Y)

Calculated over the trailing 1-year period

26.72%

18.90%

+7.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.27%

18.05%

+6.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.46%

22.20%

+1.26%

VNM vs. EPHE - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is higher than EPHE's 0.59% expense ratio.

Dividends

VNM vs. EPHE - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.21%, less than EPHE's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
EPHE
iShares MSCI Philippines ETF		2.10%2.11%2.32%2.01%1.73%1.05%0.72%0.78%0.45%0.36%0.71%1.03%
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

VNM and EPHE have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EPHE has higher volatility (4.96%) compared to VNM (4.95%). In terms of maximum drawdown, VNM dropped -63.19% vs EPHE's -53.82%.

On 10-year performance, VNM leads with 3.29% vs -2.82% for EPHE. On fees, EPHE is cheaper at 0.59% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VNM has performed better with a 3.29% return vs -2.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EPHE is cheaper with a 0.59% expense ratio, compared with 0.68% for VNM.

EPHE has the higher dividend yield at 2.10%, compared with 0.21% for VNM.

VNM tracks MVIS Vietnam Index, while EPHE tracks MSCI Philippines Investable Market Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.68% for VNM and 0.59% for EPHE.

VNM currently has the higher Sharpe Ratio (1.26 vs -0.49), 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.

Portfolio Optimizer

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