VNM vs. VNAM

Last updated Jun 23, 2026

VNM (VanEck Vectors Vietnam ETF) and VNAM (Global X MSCI Vietnam ETF) are both exchange-traded funds - VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index, while VNAM is a Emerging Markets Equities fund tracking the MSCI Vietnam Select 25/50 Index. Both are passively managed. Over the past 3 years, VNM returned 13.31%/yr vs 15.39%/yr for VNAM. Their correlation of 0.90 suggests significant overlap in exposure. VNM charges 0.68%/yr vs 0.51%/yr for VNAM.

Performance

VNM vs. VNAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Vietnam ETF (VNM) and Global X MSCI Vietnam ETF (VNAM). 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 VNAM's 0.99% 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%

VNAM

• 1D: 0.59%
• 1M: -1.55%
• YTD: 0.99%
• 6M: 2.48%
• 1Y: 51.15%
• 3Y*: 15.39%
• 5Y*: —
• 10Y*: —

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

VNM vs. VNAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VNM VanEck Vectors Vietnam ETF	-2.25%	66.55%	-11.15%	15.01%	-43.74%	3.12%
VNAM Global X MSCI Vietnam ETF	0.99%	67.05%	-7.78%	12.95%	-44.16%	2.41%

Correlation

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

VNM vs. VNAM - Sectors Allocation Comparison

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

Return for Risk

VNM vs. VNAM — 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

VNAM

VNAM Risk / Return Rank: 56
VNAM Sharpe Ratio Rank: 58
VNAM Sortino Ratio Rank: 55
VNAM Omega Ratio Rank: 52
VNAM Calmar Ratio Rank: 63
VNAM Martin Ratio Rank: 51

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. VNAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and Global X MSCI Vietnam ETF (VNAM). 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	VNAM	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.90	-0.39
Sortino ratio: Return per unit of downside risk	2.14	2.55	-0.41
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	2.36	3.02	-0.66
Martin ratio: Return relative to average drawdown	5.80	8.44	-2.64

VNM vs. VNAM - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 1.50, which is comparable to the VNAM Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of VNM and VNAM, 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. VNAM - Drawdown Comparison

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

Drawdown Indicators

	VNM	VNAM	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-52.84%	-10.35%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-17.03%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	-31.34%	-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	-23.87%	-5.86%	-18.01%
Average Drawdown Average peak-to-trough decline	-37.80%	-30.28%	-7.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.93%	6.08%	+0.85%

Volatility

VNM vs. VNAM - Volatility Comparison

The current volatility for VanEck Vectors Vietnam ETF (VNM) is 5.92%, while Global X MSCI Vietnam ETF (VNAM) has a volatility of 6.41%. This indicates that VNM experiences smaller price fluctuations and is considered to be less risky than VNAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNM	VNAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	6.41%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	18.18%	19.71%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	26.83%	27.15%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.32%	25.57%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	25.57%	-2.08%

VNM vs. VNAM - Expense Ratio Comparison

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

Dividends

VNM vs. VNAM - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.20%, less than VNAM's 0.49% 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	0.20%	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 VNAM in my portfolio?

With a correlation of 0.92, VNM and VNAM 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, VNM or VNAM?

VNAM has higher volatility (6.41%) compared to VNM (5.92%). In terms of maximum drawdown, VNM dropped -63.19% vs VNAM's -52.84%.

Which ETF is better, VNM or VNAM?

On 3-year performance, VNAM leads with 15.39% vs 13.31% for VNM. On fees, VNAM is cheaper at 0.51% per year. On volatility, VNM has been the lower-risk option at 5.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or VNAM?

Over the 3-year period, VNAM has performed better with a 15.39% return vs 13.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or VNAM?

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

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

VNAM has the higher dividend yield at 0.49%, compared with 0.20% for VNM.

What is the main difference between VNM and VNAM?

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

Which has better risk-adjusted returns?

VNAM currently has the higher Sharpe Ratio (1.90 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.