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VWO vs. IDEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWO vs. IDEV

Last updated Jun 17, 2026

VWO (Vanguard FTSE Emerging Markets ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both exchange-traded funds - VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index, while IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index. Both are passively managed. Over the past 5 years, VWO returned 5.47%/yr vs 9.00%/yr for IDEV. A 0.76 correlation means they provide meaningful diversification when combined. VWO charges 0.08%/yr vs 0.05%/yr for IDEV.

Performance

VWO vs. IDEV - Performance Comparison

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

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Returns By Period

In the year-to-date period, VWO achieves a 11.90% return, which is significantly higher than IDEV's 10.53% return.

VWO

1D
-1.12%
1M
2.94%
YTD
11.90%
6M
14.70%
1Y
26.64%
3Y*
16.40%
5Y*
5.47%
10Y*
8.99%

IDEV

1D
0.25%
1M
3.76%
YTD
10.53%
6M
11.91%
1Y
24.07%
3Y*
16.93%
5Y*
9.00%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWO vs. IDEV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VWO
Vanguard FTSE Emerging Markets ETF		11.90%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%17.17%
IDEV
iShares Core MSCI International Developed Markets ETF		10.53%32.56%4.54%17.36%-14.99%13.00%8.32%23.12%-14.10%17.43%

Correlation

The correlation between VWO and IDEV is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.78

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

0.75

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

0.76

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2017

0.76

The correlation between VWO and IDEV has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

VWO vs. IDEV - Sectors Allocation Comparison

Sectors
VWO
IDEV

Technology

29.6%
11.1%

Financial Services

19.5%
24.0%

Consumer Cyclical

10.7%
7.7%

Industrials

8.0%
18.8%

Basic Materials

8.0%
8.3%

Communication Services

7.1%
4.3%

Energy

4.6%
5.4%

Healthcare

3.9%
8.5%

Consumer Defensive

3.7%
5.8%

Utilities

2.9%
3.4%

Real Estate

2.2%
2.7%

Technology

VWO
29.6%
IDEV
11.1%

Financial Services

VWO
19.5%
IDEV
24.0%

Consumer Cyclical

VWO
10.7%
IDEV
7.7%

Industrials

VWO
8.0%
IDEV
18.8%

Basic Materials

VWO
8.0%
IDEV
8.3%

Communication Services

VWO
7.1%
IDEV
4.3%

Energy

VWO
4.6%
IDEV
5.4%

Healthcare

VWO
3.9%
IDEV
8.5%

Consumer Defensive

VWO
3.7%
IDEV
5.8%

Utilities

VWO
2.9%
IDEV
3.4%

Real Estate

VWO
2.2%
IDEV
2.7%

Compare stocks, funds, or ETFs

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

Vanguard FTSE Emerging Markets ETF

iShares Core MSCI International Developed Markets ETF

Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX
Often compared with IDEV:
IDEV vs. VYMIIDEV vs. VEAIDEV vs. IEFAIDEV vs. IXUSIDEV vs. SCHFIDEV vs. FDEVIDEV vs. VOO

Return for Risk

VWO vs. IDEV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWO
VWO Risk / Return Rank: 4949
Overall Rank
VWO Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4646
Sortino Ratio Rank
VWO Omega Ratio Rank: 4949
Omega Ratio Rank
VWO Calmar Ratio Rank: 4949
Calmar Ratio Rank
VWO Martin Ratio Rank: 5151
Martin Ratio Rank
IDEV
IDEV Risk / Return Rank: 4747
Overall Rank
IDEV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IDEV Sortino Ratio Rank: 4747
Sortino Ratio Rank
IDEV Omega Ratio Rank: 4646
Omega Ratio Rank
IDEV Calmar Ratio Rank: 4444
Calmar Ratio Rank
IDEV Martin Ratio Rank: 5151
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.

VWO vs. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and iShares Core MSCI International Developed Markets ETF (IDEV). 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.

VWOIDEVDifference
Sharpe ratioReturn per unit of total volatility
1.61
1.61

0.00

Sortino ratioReturn per unit of downside risk
2.25
2.28

-0.03

Omega ratioGain probability vs. loss probability

1.30

1.29

+0.01

Calmar ratioReturn relative to maximum drawdown

2.40

2.16

+0.24

Martin ratioReturn relative to average drawdown

8.46

8.45

+0.01

VWO vs. IDEV - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.61, which is comparable to the IDEV Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of VWO and IDEV, 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

VWO vs. IDEV - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, which is greater than IDEV's maximum drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for VWO and IDEV.

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Drawdown Indicators

VWOIDEVDifference

Max Drawdown

Largest peak-to-trough decline

-67.68%

-34.77%

-32.91%

Max Drawdown (1Y)

Largest decline over 1 year

-11.17%

-11.20%

+0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-17.37%

-13.41%

-3.96%

Max Drawdown (5Y)

Largest decline over 5 years

-32.60%

-29.15%

-3.45%

Max Drawdown (10Y)

Largest decline over 10 years

-36.39%

—

—

Current Drawdown

Current decline from peak

-1.68%

0.00%

-1.68%

Average Drawdown

Average peak-to-trough decline

-15.80%

-6.54%

-9.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.16%

2.86%

+0.30%

Volatility

VWO vs. IDEV - Volatility Comparison

Vanguard FTSE Emerging Markets ETF (VWO) has a higher volatility of 6.55% compared to iShares Core MSCI International Developed Markets ETF (IDEV) at 4.99%. This indicates that VWO's price experiences larger fluctuations and is considered to be riskier than IDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWOIDEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.55%

4.99%

+1.56%

Volatility (6M)

Calculated over the trailing 6-month period

14.20%

12.72%

+1.48%

Volatility (1Y)

Calculated over the trailing 1-year period

16.64%

15.01%

+1.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.51%

16.36%

+1.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.24%

17.29%

+1.95%

VWO vs. IDEV - Expense Ratio Comparison

VWO has a 0.08% expense ratio, which is higher than IDEV's 0.05% expense ratio. However, 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. IDEV - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.41%, less than IDEV's 3.20% yield.

PositionTTM20252024202320222021202020192018201720162015
IDEV
iShares Core MSCI International Developed Markets ETF		3.20%3.40%3.30%3.07%2.69%3.05%2.00%3.18%3.16%1.54%0.00%0.00%
VWO
Vanguard FTSE Emerging Markets ETF		2.41%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

VWO and IDEV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VWO has higher volatility (6.55%) compared to IDEV (4.99%). In terms of maximum drawdown, VWO dropped -67.68% vs IDEV's -34.77%.

On 5-year performance, IDEV leads with 9.00% vs 5.47% for VWO. On fees, IDEV is cheaper at 0.05% per year. On volatility, IDEV has been the lower-risk option at 4.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IDEV has performed better with a 9.00% return vs 5.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IDEV is cheaper with a 0.05% expense ratio, compared with 0.08% for VWO.

IDEV has the higher dividend yield at 3.20%, compared with 2.41% for VWO.

VWO is categorized as Emerging Markets Equities, while IDEV is Foreign Large Cap Equities. VWO tracks FTSE Emerging Index, while IDEV tracks MSCI World ex USA Investable Market Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VWO and 0.05% for IDEV.

IDEV currently has the higher Sharpe Ratio (1.61 vs 1.61), 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.

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