VWO vs. T

Last updated Jun 13, 2026

VWO (Vanguard FTSE Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE Emerging Index, while T (AT&T Inc.) is a stock. Over the past 10 years, VWO returned 9.00%/yr vs 3.33%/yr for T. At a 0.38 correlation, their price movements are largely independent.

Performance

VWO vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Emerging Markets ETF (VWO) and AT&T Inc. (T). 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 T's -2.96% return. Over the past 10 years, VWO has outperformed T with an annualized return of 9.00%, while T has yielded a comparatively lower 3.33% annualized return.

VWO

• 1D: 0.76%
• 1M: -0.65%
• YTD: 10.77%
• 6M: 12.57%
• 1Y: 24.61%
• 3Y*: 16.61%
• 5Y*: 5.03%
• 10Y*: 9.00%

T

• 1D: 2.52%
• 1M: -4.69%
• YTD: -2.96%
• 6M: -1.93%
• 1Y: -12.96%
• 3Y*: 20.58%
• 5Y*: 7.38%
• 10Y*: 3.33%

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

VWO vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWO Vanguard FTSE Emerging Markets ETF	10.77%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-14.76%	31.49%
T AT&T Inc.	-2.96%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between VWO and T is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005	0.38

The correlation between VWO and T shifts across timeframes, from -0.11 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VWO vs. T — 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

T

T Risk / Return Rank: 18
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 17
T Omega Ratio Rank: 18
T Calmar Ratio Rank: 21
T Martin Ratio Rank: 15

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. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-0.59	+2.08
Sortino ratio: Return per unit of downside risk	2.10	-0.72	+2.82
Omega ratio: Gain probability vs. loss probability	1.28	0.92	+0.36
Calmar ratio: Return relative to maximum drawdown	2.21	-0.59	+2.81
Martin ratio: Return relative to average drawdown	7.80	-1.22	+9.02

VWO vs. T - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.49, which is higher than the T Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of VWO and T, 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. T - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for VWO and T.

Drawdown Indicators

	VWO	T	Difference
Max Drawdown Largest peak-to-trough decline	-67.68%	-64.15%	-3.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.17%	-21.87%	+10.70%
Max Drawdown (3Y) Largest decline over 3 years	-17.37%	-21.87%	+4.50%
Max Drawdown (5Y) Largest decline over 5 years	-32.60%	-32.01%	-0.59%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	-42.35%	+5.96%
Current Drawdown Current decline from peak	-2.68%	-18.12%	+15.44%
Average Drawdown Average peak-to-trough decline	-15.80%	-15.72%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	10.64%	-7.47%

Volatility

VWO vs. T - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets ETF (VWO) is 6.64%, while AT&T Inc. (T) has a volatility of 8.21%. This indicates that VWO experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWO	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	8.21%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	17.80%	-3.76%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	22.13%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	24.01%	-6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	23.73%	-4.51%

Dividends

VWO vs. T - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.44%, less than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%
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 T in my portfolio?

VWO and T have a correlation of -0.11, 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 T?

T has higher volatility (8.21%) compared to VWO (6.64%). In terms of maximum drawdown, VWO dropped -67.68% vs T's -64.15%.

Which has better risk-adjusted returns?

VWO currently has the higher Sharpe Ratio (1.49 vs -0.59), 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.