VWO vs. VEQT.TO

Last updated Jun 14, 2026

VWO (Vanguard FTSE Emerging Markets ETF) and VEQT.TO (Vanguard All-Equity ETF Portfolio) are both exchange-traded funds - VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index, while VEQT.TO is a Global Equities fund actively managed by Vanguard. VWO is passively managed, while VEQT.TO is actively managed. Over the past 5 years, VWO returned 5.03%/yr vs 10.55%/yr for VEQT.TO. A 0.57 correlation means they provide meaningful diversification when combined. VWO charges 0.08%/yr vs 0.24%/yr for VEQT.TO.

Performance

VWO vs. VEQT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Emerging Markets ETF (VWO) and Vanguard All-Equity ETF Portfolio (VEQT.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VWO is traded in USD, while VEQT.TO is traded in CAD. To make them comparable, the VEQT.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with VWO having a 10.77% return and VEQT.TO slightly lower at 10.24%.

VWO

• 1D: 0.76%
• 1M: 1.90%
• YTD: 10.77%
• 6M: 12.57%
• 1Y: 26.52%
• 3Y*: 16.61%
• 5Y*: 5.03%
• 10Y*: 9.00%

VEQT.TO

• 1D: 0.50%
• 1M: 1.64%
• YTD: 10.24%
• 6M: 11.35%
• 1Y: 28.23%
• 3Y*: 20.18%
• 5Y*: 10.55%
• 10Y*: —

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

VWO vs. VEQT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VWO Vanguard FTSE Emerging Markets ETF	10.77%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	10.70%
VEQT.TO Vanguard All-Equity ETF Portfolio	10.24%	26.13%	15.22%	19.55%	-16.08%	19.68%	14.14%	13.54%

Correlation

The correlation between VWO and VEQT.TO is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 5, 2019	0.57

The correlation between VWO and VEQT.TO shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

VWO vs. VEQT.TO - Sectors Allocation Comparison

Sectors	VWO	VEQT.TO
Technology	29.6%	20.3%
Financial Services	19.5%	20.7%
Consumer Cyclical	10.7%	7.8%
Industrials	8.0%	11.6%
Basic Materials	8.0%	8.6%
Communication Services	7.1%	6.0%
Energy	4.6%	8.7%
Healthcare	3.9%	6.6%
Consumer Defensive	3.7%	4.5%
Utilities	2.9%	2.8%
Real Estate	2.2%	2.2%

Return for Risk

VWO vs. VEQT.TO — 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

VEQT.TO

VEQT.TO Risk / Return Rank: 86
VEQT.TO Sharpe Ratio Rank: 88
VEQT.TO Sortino Ratio Rank: 87
VEQT.TO Omega Ratio Rank: 86
VEQT.TO Calmar Ratio Rank: 82
VEQT.TO Martin Ratio Rank: 87

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. VEQT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and Vanguard All-Equity ETF Portfolio (VEQT.TO). 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	VEQT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.11	-0.61
Sortino ratio: Return per unit of downside risk	2.10	2.88	-0.79
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.21	3.07	-0.86
Martin ratio: Return relative to average drawdown	7.80	13.27	-5.46

VWO vs. VEQT.TO - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.49, which is comparable to the VEQT.TO Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of VWO and VEQT.TO, 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. VEQT.TO - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, which is greater than VEQT.TO's maximum drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for VWO and VEQT.TO.

Drawdown Indicators

	VWO	VEQT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-67.68%	-36.24%	-31.44%
Max Drawdown (1Y) Largest decline over 1 year	-11.17%	-8.98%	-2.19%
Max Drawdown (3Y) Largest decline over 3 years	-17.37%	-15.37%	-2.00%
Max Drawdown (5Y) Largest decline over 5 years	-32.60%	-25.41%	-7.19%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	—	—
Current Drawdown Current decline from peak	-2.68%	-1.73%	-0.95%
Average Drawdown Average peak-to-trough decline	-15.80%	-5.33%	-10.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	2.07%	+1.10%

Volatility

VWO vs. VEQT.TO - Volatility Comparison

Vanguard FTSE Emerging Markets ETF (VWO) has a higher volatility of 6.64% compared to Vanguard All-Equity ETF Portfolio (VEQT.TO) at 5.01%. This indicates that VWO's price experiences larger fluctuations and is considered to be riskier than VEQT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWO	VEQT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	5.01%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	10.51%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	13.08%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	14.43%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	16.98%	+2.24%

VWO vs. VEQT.TO - Expense Ratio Comparison

VWO has a 0.08% expense ratio, which is lower than VEQT.TO's 0.24% 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. VEQT.TO - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.44%, more than VEQT.TO's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEQT.TO Vanguard All-Equity ETF Portfolio	1.26%	1.42%	1.58%	1.88%	2.09%	1.40%	1.48%	1.43%	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 VEQT.TO in my portfolio?

VWO and VEQT.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VWO or VEQT.TO?

On fees, VWO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VWO or VEQT.TO?

VWO is cheaper with a 0.08% expense ratio, compared with 0.24% for VEQT.TO.

What is the main difference between VWO and VEQT.TO?

VWO is categorized as Emerging Markets Equities, while VEQT.TO is Global Equities. Their fees differ too: 0.08% for VWO and 0.24% for VEQT.TO.