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VWO vs. IXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWO vs. IXC

Last updated Jun 12, 2026

VWO (Vanguard FTSE Emerging Markets ETF) and IXC (iShares Global Energy ETF) are both exchange-traded funds - VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index, while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Both are passively managed. Over the past 10 years, VWO returned 8.88%/yr vs 9.93%/yr for IXC. A 0.61 correlation means they provide meaningful diversification when combined. VWO charges 0.08%/yr vs 0.40%/yr for IXC.

Performance

VWO vs. IXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Emerging Markets ETF (VWO) and iShares Global Energy ETF (IXC). 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 9.93% return, which is significantly lower than IXC's 28.81% return. Over the past 10 years, VWO has underperformed IXC with an annualized return of 8.88%, while IXC has yielded a comparatively higher 9.93% annualized return.

VWO

1D
2.39%
1M
-0.49%
YTD
9.93%
6M
10.69%
1Y
23.70%
3Y*
16.63%
5Y*
4.87%
10Y*
8.88%

IXC

1D
-1.12%
1M
-1.50%
YTD
28.81%
6M
27.41%
1Y
39.54%
3Y*
17.54%
5Y*
19.08%
10Y*
9.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWO vs. IXC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VWO
Vanguard FTSE Emerging Markets ETF		9.93%25.60%10.59%9.25%-17.98%1.26%15.17%20.75%-14.76%31.49%
IXC
iShares Global Energy ETF		28.81%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%5.54%

Correlation

The correlation between VWO and IXC is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.04

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

0.23

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

0.33

Correlation (10Y)
Calculated over the trailing 10-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Mar 10, 2005

0.61

The correlation between VWO and IXC shifts across timeframes, from -0.04 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

VWO vs. IXC - Sectors Allocation Comparison

Sectors
VWO
IXC

Technology

29.6%

-

Financial Services

19.5%

-

Consumer Cyclical

10.7%

-

Industrials

8.0%

-

Basic Materials

8.0%

-

Communication Services

7.1%

-

Energy

4.6%
100.0%

Healthcare

3.9%

-

Consumer Defensive

3.7%

-

Utilities

2.9%

-

Real Estate

2.2%

-

Technology

VWO
29.6%
IXC

-

Financial Services

VWO
19.5%
IXC

-

Consumer Cyclical

VWO
10.7%
IXC

-

Industrials

VWO
8.0%
IXC

-

Basic Materials

VWO
8.0%
IXC

-

Communication Services

VWO
7.1%
IXC

-

Energy

VWO
4.6%
IXC
100.0%

Healthcare

VWO
3.9%
IXC

-

Consumer Defensive

VWO
3.7%
IXC

-

Utilities

VWO
2.9%
IXC

-

Real Estate

VWO
2.2%
IXC

-

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 Global Energy ETF

Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX
Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. DDMIXC vs. XDW0.DE

Return for Risk

VWO vs. IXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWO
VWO Risk / Return Rank: 5252
Overall Rank
VWO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4949
Sortino Ratio Rank
VWO Omega Ratio Rank: 5252
Omega Ratio Rank
VWO Calmar Ratio Rank: 5252
Calmar Ratio Rank
VWO Martin Ratio Rank: 5353
Martin Ratio Rank
IXC
IXC Risk / Return Rank: 7777
Overall Rank
IXC Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 7474
Sortino Ratio Rank
IXC Omega Ratio Rank: 7171
Omega Ratio Rank
IXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
IXC Martin Ratio Rank: 7676
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. IXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and iShares Global Energy ETF (IXC). 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.

VWOIXCDifference
Sharpe ratioReturn per unit of total volatility
1.44
2.11

-0.67

Sortino ratioReturn per unit of downside risk
2.03
2.73

-0.70

Omega ratioGain probability vs. loss probability

1.27

1.35

-0.08

Calmar ratioReturn relative to maximum drawdown

2.13

4.11

-1.98

Martin ratioReturn relative to average drawdown

7.51

11.84

-4.33

VWO vs. IXC - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.44, which is lower than the IXC Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of VWO and IXC, 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. IXC - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, roughly equal to the maximum IXC drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for VWO and IXC.

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Drawdown Indicators

VWOIXCDifference

Max Drawdown

Largest peak-to-trough decline

-67.68%

-67.88%

+0.20%

Max Drawdown (1Y)

Largest decline over 1 year

-11.17%

-9.66%

-1.51%

Max Drawdown (3Y)

Largest decline over 3 years

-17.37%

-19.06%

+1.69%

Max Drawdown (5Y)

Largest decline over 5 years

-32.60%

-24.93%

-7.67%

Max Drawdown (10Y)

Largest decline over 10 years

-36.39%

-64.16%

+27.77%

Current Drawdown

Current decline from peak

-3.42%

-7.29%

+3.87%

Average Drawdown

Average peak-to-trough decline

-15.81%

-17.47%

+1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.16%

3.35%

-0.19%

Volatility

VWO vs. IXC - Volatility Comparison

Vanguard FTSE Emerging Markets ETF (VWO) and iShares Global Energy ETF (IXC) have volatilities of 6.66% and 6.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWOIXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.66%

6.43%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

14.04%

15.64%

-1.60%

Volatility (1Y)

Calculated over the trailing 1-year period

16.53%

18.83%

-2.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.48%

23.54%

-6.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.23%

26.84%

-7.61%

VWO vs. IXC - Expense Ratio Comparison

VWO has a 0.08% expense ratio, which is lower than IXC's 0.40% expense ratio.

Dividends

VWO vs. IXC - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.45%, less than IXC's 2.86% yield.

PositionTTM20252024202320222021202020192018201720162015
IXC
iShares Global Energy ETF		2.86%3.68%4.56%3.45%4.76%3.98%4.86%7.00%3.51%3.05%2.86%3.77%
VWO
Vanguard FTSE Emerging Markets ETF		2.45%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 IXC have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VWO has higher volatility (6.66%) compared to IXC (6.43%). In terms of maximum drawdown, VWO dropped -67.68% vs IXC's -67.88%.

On 10-year performance, IXC leads with 9.93% vs 8.88% for VWO. On fees, VWO is cheaper at 0.08% per year. On volatility, IXC has been the lower-risk option at 6.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXC has performed better with a 9.93% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VWO is cheaper with a 0.08% expense ratio, compared with 0.40% for IXC.

IXC has the higher dividend yield at 2.86%, compared with 2.45% for VWO.

VWO is categorized as Emerging Markets Equities, while IXC is Energy Equities. VWO tracks FTSE Emerging Index, while IXC tracks S&P Global 1200 Energy Capped Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VWO and 0.40% for IXC.

IXC currently has the higher Sharpe Ratio (2.11 vs 1.44), 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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