VNM vs. FLIN

Last updated Jun 13, 2026

VNM (VanEck Vectors Vietnam ETF) and FLIN (Franklin FTSE India ETF) are both Asia Pacific Equities funds - VNM tracks the MVIS Vietnam Index while FLIN tracks the FTSE India RIC Capped Index. Both are passively managed. Over the past 5 years, VNM returned -0.94%/yr vs 3.89%/yr for FLIN. At a 0.30 correlation, their price movements are largely independent. VNM charges 0.68%/yr vs 0.19%/yr for FLIN.

Performance

VNM vs. FLIN - Performance Comparison

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

Returns By Period

In the year-to-date period, VNM achieves a -6.66% return, which is significantly higher than FLIN's -10.29% 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%

FLIN

• 1D: 1.11%
• 1M: -0.40%
• YTD: -10.29%
• 6M: -8.41%
• 1Y: -10.13%
• 3Y*: 5.77%
• 5Y*: 3.89%
• 10Y*: —

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

VNM vs. FLIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VNM VanEck Vectors Vietnam ETF	-6.66%	66.55%	-11.15%	15.01%	-43.74%	22.05%	9.84%	9.24%	-15.55%
FLIN Franklin FTSE India ETF	-10.29%	2.40%	10.33%	20.58%	-7.96%	24.96%	14.50%	4.77%	-7.13%

Correlation

The correlation between VNM and FLIN is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Feb 8, 2018	0.30

The correlation between VNM and FLIN shifts across timeframes, from 0.17 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

VNM vs. FLIN - Sectors Allocation Comparison

Sectors	VNM	FLIN
Real Estate	31.4%	1.3%
Financial Services	27.5%	27.2%
Industrials	14.9%	10.3%
Consumer Defensive	14.4%	5.8%
Basic Materials	7.9%	9.2%
Technology	1.7%	8.4%
Energy	1.2%	9.5%
Utilities	1.0%	5.3%
Communication Services	-	4.6%
Consumer Cyclical	-	12.0%
Healthcare	-	6.5%

Return for Risk

VNM vs. FLIN — Risk / Return Rank

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

VNM

VNM Risk / Return Rank: 40
VNM Sharpe Ratio Rank: 40
VNM Sortino Ratio Rank: 40
VNM Omega Ratio Rank: 37
VNM Calmar Ratio Rank: 45
VNM Martin Ratio Rank: 36

FLIN

FLIN Risk / Return Rank: 3
FLIN Sharpe Ratio Rank: 3
FLIN Sortino Ratio Rank: 4
FLIN Omega Ratio Rank: 4
FLIN Calmar Ratio Rank: 5
FLIN Martin Ratio Rank: 2

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. FLIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and Franklin FTSE India ETF (FLIN). 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.

	VNM	FLIN	Difference
Sharpe ratio: Return per unit of total volatility	1.26	-0.76	+2.02
Sortino ratio: Return per unit of downside risk	1.85	-1.03	+2.88
Omega ratio: Gain probability vs. loss probability	1.22	0.88	+0.34
Calmar ratio: Return relative to maximum drawdown	1.98	-0.61	+2.58
Martin ratio: Return relative to average drawdown	4.93	-1.44	+6.37

VNM vs. FLIN - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 1.26, which is higher than the FLIN Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of VNM and FLIN, 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

VNM vs. FLIN - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, which is greater than FLIN's maximum drawdown of -41.90%. Use the drawdown chart below to compare losses from any high point for VNM and FLIN.

Drawdown Indicators

	VNM	FLIN	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-41.90%	-21.29%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-18.79%	+1.72%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	-22.85%	-8.75%
Max Drawdown (5Y) Largest decline over 5 years	-49.95%	-22.85%	-27.10%
Max Drawdown (10Y) Largest decline over 10 years	-51.67%	—	—
Current Drawdown Current decline from peak	-27.30%	-17.41%	-9.89%
Average Drawdown Average peak-to-trough decline	-37.81%	-8.04%	-29.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	7.93%	-1.10%

Volatility

VNM vs. FLIN - Volatility Comparison

VanEck Vectors Vietnam ETF (VNM) has a higher volatility of 4.95% compared to Franklin FTSE India ETF (FLIN) at 4.11%. This indicates that VNM's price experiences larger fluctuations and is considered to be riskier than FLIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNM	FLIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.11%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	18.57%	12.89%	+5.68%
Volatility (1Y) Calculated over the trailing 1-year period	26.72%	15.03%	+11.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.27%	15.76%	+8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.46%	20.43%	+3.03%

VNM vs. FLIN - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is higher than FLIN's 0.19% expense ratio.

Dividends

VNM vs. FLIN - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.21%, less than FLIN's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLIN Franklin FTSE India ETF	0.62%	0.56%	1.58%	0.73%	0.73%	2.26%	0.68%	0.90%	0.92%	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 VNM and FLIN in my portfolio?

VNM and FLIN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNM or FLIN?

VNM has higher volatility (4.95%) compared to FLIN (4.11%). In terms of maximum drawdown, VNM dropped -63.19% vs FLIN's -41.90%.

Which ETF is better, VNM or FLIN?

On 5-year performance, FLIN leads with 3.89% vs -0.94% for VNM. On fees, FLIN is cheaper at 0.19% per year. On volatility, FLIN has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or FLIN?

Over the 5-year period, FLIN has performed better with a 3.89% return vs -0.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or FLIN?

FLIN is cheaper with a 0.19% expense ratio, compared with 0.68% for VNM.

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

FLIN has the higher dividend yield at 0.62%, compared with 0.21% for VNM.

What is the main difference between VNM and FLIN?

VNM tracks MVIS Vietnam Index, while FLIN tracks FTSE India RIC Capped Index. They also come from different issuers: VanEck and Franklin Templeton. Their fees differ too: 0.68% for VNM and 0.19% for FLIN.

Which has better risk-adjusted returns?

VNM currently has the higher Sharpe Ratio (1.26 vs -0.76), 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.