VWOvsSPEMETF Comparison
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Vanguard FTSE Emerging Markets ETF (VWO) and State Street SPDR Portfolio Emerging Markets ETF (SPEM) belong to the same industry segment: EM Blended Cap. Both ETFs have the same top 3 sector exposures: Technology, Finance and Non-Energy Materials. VWO is less expensive with a Total Expense Ratio (TER) of 0.06%, versus 0.07% for SPEM. VWO is up 9.62% year-to-date (YTD) with +$6.24B in YTD flows. SPEM performs better with 10.17% YTD performance, and +$452M in YTD flows. Run a side-by-side ETF comparison of VWO and SPEM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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VWO vs SPEM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VWO SPEM | -3.67%-3.56% | +0.20%+1.35% | +9.62%+10.17% | +19.39%+20.35% | +54.00%+58.12% | +30.34%+33.92% |
| Flows | VWO SPEM | +$1.79B+$51M | +$2.20B-$223M | +$6.24B+$452M | +$11.70B+$2.35B | +$15.09B+$5.21B | +$25.83B+$7.84B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VWO SPEM | +19.11%+16.62% | +15.82%+15.12% | +14.45%+13.92% | +15.41%+14.72% |
| Max drawdown | VWO SPEM | -5.74%-5.68% | -11.04%-10.55% | -15.75%-15.79% | -30.61%-30.34% |
| Max drawdown duration | VWO SPEM | 50d30d | 50d58d | 240d242d | 1115d1114d |
Trading data
VWO | SPEM | |
Last sale 7/23/2026 at 1:30 PM | $58.10 | $50.48 |
| Previous close 07/22/2026 | $58.81 | $51.11 |
| Consolidated volume 07/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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VWO | SPEM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/23/2026 at 1:30 PM
Live
Closed
VWO | SPEM | |
|---|---|---|
| Last price | $58.10 | $50.48 |
| 1D performance | -1.22% | -1.23% |
| AuM | $121.68 B | $17.26 B |
| E/R | 0.06% | 0.07% |
Characteristics
VWO | SPEM | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | State Street Investment Management |
| Benchmark | FTSE Emerging Markets All Cap China A Inclusion Index | S&P Emerging BMI Index |
| N° of holdings | 4562 | 2674 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 4, 2005 | March 20, 2007 |
| ESG | No | No |
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Exposure
Countries
VWO
Taiwan
32.64%
China
22.16%
India
15.73%
Other
29.48%
SPEM
Taiwan
32.61%
China
23.57%
India
15.54%
Other
28.28%
Sectors
VWO
Technology
35.22%
Finance
20.65%
Non-Energy Materi.
8.55%
Other
35.58%
SPEM
Technology
35.53%
Finance
21.49%
Non-Energy Materi.
9.31%
Consumer Non-Cycl.
7.14%
Other
26.54%
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Diversification
VWO
Total weight of top 15 holdings out of 15
29.1%
SPEM
Total weight of top 15 holdings out of 15
29.27%
Top 15 holdings
Data as of June 30, 2026
VWO
Taiwan Semiconductor Manufacturing Co., Ltd.
15.61%
Tencent Holdings Ltd.
2.81%
Alibaba Group Holding Ltd.
1.79%
MediaTek, Inc.
1.63%
Delta Electronics, Inc.
0.99%
Hon Hai Precision Industry Co., Ltd.
0.79%
HDFC Bank Ltd.
0.78%
Reliance Industries Ltd.
0.75%
China Construction Bank Corp.
0.74%
ICICI Bank Ltd.
0.63%
ASE Technology Holding Co., Ltd.
0.60%
Industrial & Commercial Bank of China Ltd.
0.54%
Bharti Airtel Ltd.
0.49%
PDD Holdings, Inc.
0.48%
Yageo Corp.
0.47%
SPEM
Taiwan Semiconductor Manufacturing Co., Ltd.
14.64%
Tencent Holdings Ltd.
2.74%
MediaTek, Inc.
1.82%
Alibaba Group Holding Ltd.
1.79%
Delta Electronics, Inc.
1.13%
Hon Hai Precision Industry Co., Ltd.
0.93%
HDFC Bank Ltd.
0.83%
ASE Technology Holding Co., Ltd.
0.82%
China Construction Bank Corp.
0.81%
Reliance Industries Ltd.
0.80%
ICICI Bank Ltd.
0.71%
United Microelectronics Corp.
0.67%
CTBC Financial Holding Co., Ltd.
0.56%
Bharti Airtel Ltd.
0.53%
Industrial & Commercial Bank of China Ltd.
0.50%
Frequently asked questions about VWO and SPEM
How have the VWO and SPEM ETFs performed in 2026?
As of July 22, 2026, VWO is up 9.62% year-to-date (YTD), while SPEM has returned 10.17%. That puts SPEM better performer ahead so far this year.
Which ETF is attracting more investor money: VWO or SPEM?
Year-to-date, the VWO ETF saw +$6.24B in flows, compared to +$452M for SPEM.
Which ETF is more volatile: VWO or SPEM?
Over the past year, VWO had a volatility of 15.82%, while SPEM experienced 15.12%.
Which ETF is bigger: VWO or SPEM?
As of July 22, 2026, VWO holds $121.68 B in assets under management (AUM), while SPEM manages $17.26 B.
What sectors do the VWO and SPEM ETFs invest in?
VWO leans toward sectors like Technology, Finance and Non-Energy Materials. Meanwhile, SPEM focuses on Technology, Finance and Non-Energy Materials.
What are the top holdings of the VWO ETF and SPEM ETF?
VWO top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd. and Alibaba Group Holding Ltd.. SPEM holds in its top three: Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd. and MediaTek, Inc..
Which ETF is more diversified: VWO or SPEM?
VWO holds 4936 securities with 29.1% of its assets in the top 15. SPEM has 2728 securities and a top 15 weight of 29.27%.
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