VWO vs. VPL

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard FTSE Emerging Markets ETF (VWO) and Vanguard FTSE Pacific ETF (VPL).

VWO and VPL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VWO is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Index. It was launched on Mar 4, 2005. VPL is a passively managed fund by Vanguard that tracks the performance of the FTSE Developed Asia Pacific Index. It was launched on Mar 4, 2005. Both VWO and VPL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VWO vs. VPL - Performance Comparison

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

VWO vs. VPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWO Vanguard FTSE Emerging Markets ETF	0.84%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-14.76%	31.49%
VPL Vanguard FTSE Pacific ETF	10.38%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%

Returns By Period

In the year-to-date period, VWO achieves a 0.84% return, which is significantly lower than VPL's 10.38% return. Over the past 10 years, VWO has underperformed VPL with an annualized return of 7.66%, while VPL has yielded a comparatively higher 9.42% annualized return.

VWO

• 1D: 0.30%
• 1M: -5.29%
• YTD: 0.84%
• 6M: 1.39%
• 1Y: 22.71%
• 3Y*: 13.84%
• 5Y*: 3.90%
• 10Y*: 7.66%

VPL

• 1D: 2.10%
• 1M: -6.60%
• YTD: 10.38%
• 6M: 16.24%
• 1Y: 42.48%
• 3Y*: 17.67%
• 5Y*: 7.30%
• 10Y*: 9.42%

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

VWO vs. VPL - Expense Ratio Comparison

Both VWO and VPL have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VWO

Vanguard FTSE Emerging Markets ETF

VPL

Vanguard FTSE Pacific ETF

Return for Risk

VWO vs. VPL — Risk / Return Rank

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

VWO

VWO Risk / Return Rank: 70
VWO Sharpe Ratio Rank: 70
VWO Sortino Ratio Rank: 70
VWO Omega Ratio Rank: 69
VWO Calmar Ratio Rank: 71
VWO Martin Ratio Rank: 68

VPL

VPL Risk / Return Rank: 91
VPL Sharpe Ratio Rank: 91
VPL Sortino Ratio Rank: 91
VPL Omega Ratio Rank: 91
VPL Calmar Ratio Rank: 91
VPL Martin Ratio Rank: 92

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. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and Vanguard FTSE Pacific ETF (VPL). 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.

	VWO	VPL	Difference
Sharpe ratio Return per unit of total volatility	1.28	2.08	-0.80
Sortino ratio Return per unit of downside risk	1.80	2.72	-0.91
Omega ratio Gain probability vs. loss probability	1.26	1.41	-0.14
Calmar ratio Return relative to maximum drawdown	1.89	3.21	-1.32
Martin ratio Return relative to average drawdown	7.18	12.99	-5.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWO vs. VPL - Sharpe Ratio Comparison

The current VWO Sharpe Ratio is 1.28, which is lower than the VPL Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of VWO and VPL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VWO	VPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	2.08	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.44	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.55	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.31	-0.06

Correlation

The correlation between VWO and VPL is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VWO vs. VPL - Dividend Comparison

VWO's dividend yield for the trailing twelve months is around 2.68%, less than VPL's 3.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VWO Vanguard FTSE Emerging Markets ETF	2.68%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%
VPL Vanguard FTSE Pacific ETF	3.22%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Drawdowns

VWO vs. VPL - Drawdown Comparison

The maximum VWO drawdown since its inception was -67.68%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for VWO and VPL.

Drawdown Indicators

	VWO	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-67.68%	-55.49%	-12.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-13.33%	+1.10%
Max Drawdown (5Y) Largest decline over 5 years	-32.80%	-31.09%	-1.71%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	-33.90%	-2.49%
Current Drawdown Current decline from peak	-8.13%	-8.40%	+0.27%
Average Drawdown Average peak-to-trough decline	-15.93%	-11.71%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.29%	-0.07%

Volatility

VWO vs. VPL - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets ETF (VWO) is 7.41%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 9.81%. This indicates that VWO experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWO	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	9.81%	-2.40%
Volatility (6M) Calculated over the trailing 6-month period	12.26%	14.85%	-2.59%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	20.56%	-2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	16.83%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	17.11%	+2.07%