VFEM: Vanguard FTSE Emerging Markets UCITS ETF (Dist) returns, drawdowns and risk
Funds on emerging and Asian markets, as a block or country by country.
Data updated October 2026
VFEM · Borsa Italiana · EURCategory: Emerging markets and Asia ETFsData from January 2019
From January 2019 to October 2026 VFEM returned 5.1% a year on average with dividends reinvested, in euros: €10,000 invested at the start grew to €14,691.
Its deepest fall was 31.6%, from January 2020 to March 2020, and it took about 12 months to get back to the previous high. Annual volatility was 18.4%; at the last close it was 3.4% below its high.
Against VWCE (Vanguard FTSE All-World UCITS ETF (Acc)), over the 86 months both have data, the correlation of monthly returns was 0.69: they moved together only in part. Beta was 0.70. In months when VWCE rose, VFEM moved 63% as much on average; in months when VWCE fell, 84% as much.
Key figures
- Annual return (CAGR)
- +5.1%
- 1-year return
- +9.5%
- 5 years, a year
- +3.4%
- 10 years, a year
- —
- Annual volatility
- 18.4%
- Maximum drawdown
- −31.6%
- Sharpe ratio
- 0.31
- Worst year
- 2022: −15.1%
Trailing returns
| Period | VFEM | VWCE |
|---|---|---|
| 1 year | +9.5% | +22.0% |
| 3 years, a year | +14.2% | +19.5% |
| 5 years, a year | +3.4% | +11.5% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of €10,000: VFEM vs VWCE
Month-end values from August 2019, the first month both funds have data.
VFEM drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | VFEM | VWCE |
|---|---|---|
| 2026(partial) | +11.4% | +17.5% |
| 2025 | +9.0% | +9.2% |
| 2024 | +16.8% | +24.4% |
| 2023 | +1.3% | +18.2% |
| 2022 | −15.1% | −13.5% |
| 2021 | +5.0% | +28.6% |
| 2020 | +1.7% | +5.4% |
| 2019(partial) | +12.7% | — |
VFEM compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of VFEM?
From January 2019 to October 2026 VFEM returned 5.1% a year on average (CAGR) with dividends reinvested, in EUR. Over the last 5 years: +3.4% a year. Over the last 12 months: +9.5%.
What was the worst drawdown of VFEM?
31.6%, from January 2020 to March 2020; it took about 12 months from the previous high to get back to it.
How volatile is VFEM?
Annual volatility was 18.4% over the period. Its worst month was −14.3% and 59% of months were positive. Worst calendar year: 2022 (−15.1%).
How closely does VFEM follow VWCE?
Over 86 months the correlation of monthly returns was 0.69, so they moved together only in part, with a beta of 0.70.
Use VFEM in a free tool
Other Emerging markets and Asia ETFs
- All Emerging markets and Asia ETFsReturns and risk side by side
- VWO — Vanguard FTSE Emerging Markets ETFCAGR +9.6%
- IEMG — iShares Core MSCI Emerging Markets ETFCAGR +6.0%
- EIMI — iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)CAGR +7.3%
- EEM — iShares MSCI Emerging Markets ETFCAGR +5.2%
- XMME — Xtrackers MSCI Emerging Markets UCITS ETF 1CCAGR +6.2%
- INDA — iShares MSCI India ETFCAGR +5.0%
- MCHI — iShares MSCI China ETFCAGR +2.6%
- FXI — iShares China Large-Cap ETFCAGR +3.0%
- KWEB — KraneShares CSI China Internet ETFCAGR +1.3%
- EWT — iShares MSCI Taiwan ETFCAGR +13.4%
- EWY — iShares MSCI South Korea ETFCAGR +7.8%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.