VNM vs. FOXY

Last updated Jun 23, 2026

VNM (VanEck Vectors Vietnam ETF) and FOXY (Simplify Currency Strategy ETF) are both exchange-traded funds - VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index, while FOXY is a Leveraged Currency fund actively managed by Simplify. VNM is passively managed, while FOXY is actively managed. Over the past year, VNM returned 40.04% vs 19.26% for FOXY. At a correlation of -0.05, they often move in opposite directions. VNM charges 0.68%/yr vs 0.81%/yr for FOXY.

Performance

VNM vs. FOXY - Performance Comparison

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

Returns By Period

In the year-to-date period, VNM achieves a -2.25% return, which is significantly lower than FOXY's 11.43% return.

VNM

• 1D: 1.63%
• 1M: -0.53%
• YTD: -2.25%
• 6M: 0.21%
• 1Y: 40.04%
• 3Y*: 13.31%
• 5Y*: -0.09%
• 10Y*: 4.07%

FOXY

• 1D: -0.41%
• 1M: -0.27%
• YTD: 11.43%
• 6M: 7.48%
• 1Y: 19.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VNM vs. FOXY - Yearly Performance Comparison

	2026 (YTD)	2025
VNM VanEck Vectors Vietnam ETF	-2.25%	67.13%
FOXY Simplify Currency Strategy ETF	11.43%	14.71%

Correlation

The correlation between VNM and FOXY is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	-0.05

Return for Risk

VNM vs. FOXY — Risk / Return Rank

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

VNM

VNM Risk / Return Rank: 43
VNM Sharpe Ratio Rank: 44
VNM Sortino Ratio Rank: 43
VNM Omega Ratio Rank: 40
VNM Calmar Ratio Rank: 49
VNM Martin Ratio Rank: 38

FOXY

FOXY Risk / Return Rank: 68
FOXY Sharpe Ratio Rank: 61
FOXY Sortino Ratio Rank: 66
FOXY Omega Ratio Rank: 60
FOXY Calmar Ratio Rank: 85
FOXY Martin Ratio Rank: 68

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. FOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and Simplify Currency Strategy ETF (FOXY). 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	FOXY	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.97	-0.47
Sortino ratio: Return per unit of downside risk	2.14	2.91	-0.77
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.36	4.47	-2.12
Martin ratio: Return relative to average drawdown	5.80	12.11	-6.31

VNM vs. FOXY - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 1.50, which is comparable to the FOXY Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of VNM and FOXY, 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. FOXY - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, which is greater than FOXY's maximum drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for VNM and FOXY.

Drawdown Indicators

	VNM	FOXY	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-13.09%	-50.10%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-4.32%	-12.75%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	—	—
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	-23.87%	-1.42%	-22.45%
Average Drawdown Average peak-to-trough decline	-37.80%	-2.10%	-35.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.93%	1.60%	+5.33%

Volatility

VNM vs. FOXY - Volatility Comparison

VanEck Vectors Vietnam ETF (VNM) has a higher volatility of 5.92% compared to Simplify Currency Strategy ETF (FOXY) at 2.82%. This indicates that VNM's price experiences larger fluctuations and is considered to be riskier than FOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNM	FOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	2.82%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	18.18%	7.61%	+10.57%
Volatility (1Y) Calculated over the trailing 1-year period	26.83%	9.81%	+17.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.32%	14.91%	+9.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	14.91%	+8.58%

VNM vs. FOXY - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is lower than FOXY's 0.81% expense ratio.

Dividends

VNM vs. FOXY - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.20%, less than FOXY's 8.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOXY Simplify Currency Strategy ETF	8.15%	5.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNM VanEck Vectors Vietnam ETF	0.20%	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 FOXY in my portfolio?

VNM and FOXY have a correlation of -0.14, 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 FOXY?

VNM has higher volatility (5.92%) compared to FOXY (2.82%). In terms of maximum drawdown, VNM dropped -63.19% vs FOXY's -13.09%.

Which ETF is better, VNM or FOXY?

On 1-year performance, VNM leads with 40.04% vs 19.26% for FOXY. On fees, VNM is cheaper at 0.68% per year. On volatility, FOXY has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or FOXY?

Over the 1-year period, VNM has performed better with a 40.04% return vs 19.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or FOXY?

VNM is cheaper with a 0.68% expense ratio, compared with 0.81% for FOXY.

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

FOXY has the higher dividend yield at 8.15%, compared with 0.20% for VNM.

What is the main difference between VNM and FOXY?

VNM is categorized as Asia Pacific Equities, while FOXY is Leveraged Currency. They also come from different issuers: VanEck and Simplify. Their fees differ too: 0.68% for VNM and 0.81% for FOXY.

Which has better risk-adjusted returns?

FOXY currently has the higher Sharpe Ratio (1.97 vs 1.50), 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.