VWO vs. ETHA

Last updated Jun 13, 2026

VWO (Vanguard FTSE Emerging Markets ETF) and ETHA (iShares Ethereum Trust ETF) are both exchange-traded funds - VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index, while ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant. Both are passively managed. Over the past year, VWO returned 26.52% vs -34.33% for ETHA. At a 0.44 correlation, their price movements are largely independent. VWO charges 0.08%/yr vs 0.25%/yr for ETHA.

Performance

VWO vs. ETHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Emerging Markets ETF (VWO) and iShares Ethereum Trust ETF (ETHA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWO achieves a 10.77% return, which is significantly higher than ETHA's -43.96% return.

VWO

• 1D: 0.76%
• 1M: -0.68%
• YTD: 10.77%
• 6M: 12.57%
• 1Y: 26.52%
• 3Y*: 16.61%
• 5Y*: 5.03%
• 10Y*: 9.00%

ETHA

• 1D: -1.02%
• 1M: -27.59%
• YTD: -43.96%
• 6M: -45.98%
• 1Y: -34.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VWO vs. ETHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VWO Vanguard FTSE Emerging Markets ETF	10.77%	25.60%	2.18%
ETHA iShares Ethereum Trust ETF	-43.96%	-11.31%	-4.89%

Correlation

The correlation between VWO and ETHA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.44

Return for Risk

VWO vs. ETHA — Risk / Return Rank

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

VWO

VWO Risk / Return Rank: 50
VWO Sharpe Ratio Rank: 49
VWO Sortino Ratio Rank: 47
VWO Omega Ratio Rank: 51
VWO Calmar Ratio Rank: 50
VWO Martin Ratio Rank: 52

ETHA

ETHA Risk / Return Rank: 5
ETHA Sharpe Ratio Rank: 5
ETHA Sortino Ratio Rank: 5
ETHA Omega Ratio Rank: 6
ETHA Calmar Ratio Rank: 5
ETHA Martin Ratio Rank: 5

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.

VWO vs. ETHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and iShares Ethereum Trust ETF (ETHA). 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.

	VWO	ETHA	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-0.56	+2.05
Sortino ratio: Return per unit of downside risk	2.10	-0.51	+2.60
Omega ratio: Gain probability vs. loss probability	1.28	0.94	+0.34
Calmar ratio: Return relative to maximum drawdown	2.21	-0.57	+2.78
Martin ratio: Return relative to average drawdown	7.80	-0.98	+8.78

VWO vs. ETHA - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.49, which is higher than the ETHA Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of VWO and ETHA, 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

VWO vs. ETHA - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, roughly equal to the maximum ETHA drawdown of -67.56%. Use the drawdown chart below to compare losses from any high point for VWO and ETHA.

Drawdown Indicators

	VWO	ETHA	Difference
Max Drawdown Largest peak-to-trough decline	-67.68%	-67.56%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.17%	-67.56%	+56.39%
Max Drawdown (3Y) Largest decline over 3 years	-17.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	—	—
Current Drawdown Current decline from peak	-2.68%	-65.65%	+62.97%
Average Drawdown Average peak-to-trough decline	-15.80%	-33.25%	+17.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	39.22%	-36.05%

Volatility

VWO vs. ETHA - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets ETF (VWO) is 6.64%, while iShares Ethereum Trust ETF (ETHA) has a volatility of 17.30%. This indicates that VWO experiences smaller price fluctuations and is considered to be less risky than ETHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWO	ETHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	17.30%	-10.66%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	46.58%	-32.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	69.29%	-52.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	72.65%	-55.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	72.65%	-53.43%

VWO vs. ETHA - Expense Ratio Comparison

VWO has a 0.08% expense ratio, which is lower than ETHA's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VWO vs. ETHA - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.44%, while ETHA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETHA iShares Ethereum Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWO Vanguard FTSE Emerging Markets ETF	2.44%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%

Frequently Asked Questions

Can I hold both VWO and ETHA in my portfolio?

VWO and ETHA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWO or ETHA?

ETHA has higher volatility (17.30%) compared to VWO (6.64%). In terms of maximum drawdown, VWO dropped -67.68% vs ETHA's -67.56%.

Which ETF is better, VWO or ETHA?

On 1-year performance, VWO leads with 26.52% vs -34.33% for ETHA. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VWO or ETHA?

Over the 1-year period, VWO has performed better with a 26.52% return vs -34.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VWO or ETHA?

VWO is cheaper with a 0.08% expense ratio, compared with 0.25% for ETHA.

Which ETF pays a higher dividend yield, VWO or ETHA?

VWO has the higher dividend yield at 2.44%, compared with 0.00% for ETHA.

What is the main difference between VWO and ETHA?

VWO is categorized as Emerging Markets Equities, while ETHA is Cryptocurrency. VWO tracks FTSE Emerging Index, while ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VWO and 0.25% for ETHA.

Which has better risk-adjusted returns?

VWO currently has the higher Sharpe Ratio (1.49 vs -0.56), 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.