VWOB vs. IDEV
VWOB (Vanguard Emerging Markets Government Bond ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both exchange-traded funds - VWOB is a Emerging Markets Bonds fund tracking the Bloomberg USD Emerging Markets Government RIC Capped 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, VWOB returned 1.85%/yr vs 8.22%/yr for IDEV. A 0.52 correlation means they provide meaningful diversification when combined. VWOB charges 0.15%/yr vs 0.05%/yr for IDEV.
Performance
VWOB vs. IDEV - Performance Comparison
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Returns By Period
In the year-to-date period, VWOB achieves a 0.95% return, which is significantly lower than IDEV's 7.53% return.
VWOB
- 1D
- -0.18%
- 1M
- -0.48%
- YTD
- 0.95%
- 6M
- 1.64%
- 1Y
- 10.16%
- 3Y*
- 9.06%
- 5Y*
- 1.85%
- 10Y*
- 3.44%
IDEV
- 1D
- 0.52%
- 1M
- -1.13%
- YTD
- 7.53%
- 6M
- 10.04%
- 1Y
- 20.84%
- 3Y*
- 16.81%
- 5Y*
- 8.22%
- 10Y*
- —
VWOB vs. IDEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWOB Vanguard Emerging Markets Government Bond ETF | 0.95% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 5.05% |
IDEV iShares Core MSCI International Developed Markets ETF | 7.53% | 32.56% | 4.54% | 17.36% | -14.99% | 13.00% | 8.32% | 23.12% | -14.10% | 17.29% |
Correlation
The correlation between VWOB and IDEV is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2017 | 0.52 |
The correlation between VWOB and IDEV has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
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Return for Risk
VWOB vs. IDEV — Risk / Return Rank
VWOB
IDEV
VWOB vs. IDEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) 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.
| VWOB | IDEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.87 | +0.41 |
| Martin ratioReturn relative to average drawdown | 9.60 | 7.31 | +2.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWOB | IDEV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.97 | 1.42 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.51 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.54 | -0.13 |
Drawdowns
VWOB vs. IDEV - Drawdown Comparison
The maximum VWOB drawdown since its inception was -26.98%, smaller than the maximum IDEV drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for VWOB and IDEV.
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Drawdown Indicators
| VWOB | IDEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.98% | -34.77% | +7.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -11.20% | +6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -7.71% | -13.41% | +5.70% |
Max Drawdown (5Y)Largest decline over 5 years | -26.98% | -29.15% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -26.98% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | -2.25% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -6.56% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.86% | -1.80% |
Volatility
VWOB vs. IDEV - Volatility Comparison
The current volatility for Vanguard Emerging Markets Government Bond ETF (VWOB) is 1.65%, while iShares Core MSCI International Developed Markets ETF (IDEV) has a volatility of 4.42%. This indicates that VWOB experiences smaller price fluctuations and is considered to be less risky 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
| VWOB | IDEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 4.42% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 12.41% | -8.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.18% | 14.78% | -9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.18% | 16.30% | -7.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 17.28% | -7.94% |
VWOB vs. IDEV - Expense Ratio Comparison
VWOB has a 0.15% 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
VWOB vs. IDEV - Dividend Comparison
VWOB's dividend yield for the trailing twelve months is around 5.88%, more than IDEV's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDEV iShares Core MSCI International Developed Markets ETF | 3.17% | 3.40% | 3.30% | 3.07% | 2.69% | 3.05% | 2.00% | 3.18% | 3.16% | 1.54% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.88% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
VWOB and IDEV have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEV has higher volatility (4.42%) compared to VWOB (1.65%). In terms of maximum drawdown, VWOB dropped -26.98% vs IDEV's -34.77%.
On 5-year performance, IDEV leads with 8.22% vs 1.85% for VWOB. On fees, IDEV is cheaper at 0.05% per year. On volatility, VWOB has been the lower-risk option at 1.65%. 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 8.22% return vs 1.85%. 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 0.15% for VWOB.
VWOB has the higher dividend yield at 5.88%, compared with 3.17% for IDEV.
VWOB is categorized as Emerging Markets Bonds, while IDEV is Foreign Large Cap Equities. VWOB tracks Bloomberg USD Emerging Markets Government RIC Capped Index, while IDEV tracks MSCI World ex USA Investable Market Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for VWOB and 0.05% for IDEV.
VWOB currently has the higher Sharpe Ratio (1.97 vs 1.42), 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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