DV
Dividend Vision

ETF Comparison

EEM vs IEMG vs VWO: Same Region, Three Emerging Indexes

A side-by-side of iShares MSCI Emerging Markets, iShares Core MSCI Emerging Markets, and Vanguard FTSE Emerging Markets.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • EEMInvestors who want broad equity exposure.
  • IEMGInvestors who want higher current income (1.60% vs 0.77% for VWO).
  • VWOInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

EEM tops the group over the trailing twelve months with a 28.20% total return, against IEMG at 27.13% and VWO at 12.28%. Across the 10-year window, IEMG has the strongest compounding at 8.94% a year. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Oct 2012Volatility Sharpe Sortino Max drawdown
EEM20.95%28.20%24.39%8.62%8.37%5.75%20.0%0.871.25-17.3%
IEMG20.32%27.13%23.83%9.04%8.94%6.39%19.4%0.871.25-17.2%
VWO9.29%12.28%18.57%6.77%7.62%5.45%16.5%0.771.10-17.4%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 2012” measures every fund from October 22, 2012 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricEEMIEMGVWO
Full nameiShares MSCI Emerging Markets ETFiShares Core MSCI Emerging Markets ETFVanguard FTSE Emerging Markets ETF
IssueriSharesiSharesVanguard
Underlying indexMSCI Emerging Markets IndexMSCI Emerging Markets Investable Market IndexFTSE Emerging Markets All Cap China A Inclusion Index
Last Close$67.67 as of October 2, 2026$82.36 as of October 2, 2026$59.56 as of October 2, 2026
Distribution rate1.04%1.60%0.77%
Trailing 12-month yield1.65%2.18%2.49%
Distribution Safety Score™ 847054
Safety-Adjusted Yield 0.87%1.12%0.42%
Expense ratio0.72%0.09%0.06%
AUM$31.7B$164B$127B
Distribution frequencySemi-AnnualSemi-AnnualQuarterly
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.Provide exposure to the fund's underlying index or strategy per issuer materials.Track the FTSE Emerging Markets All Cap China A Inclusion Index.
Asset classEquityEquityEquity
Inception date04/07/200310/18/201203/04/2005
Beta1.021.010.75
Last dividend$0.351$0.658$0.114
Ex-dividend date06/15/202606/15/202609/18/2026
Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

iShares
ETFs466
Total AUM$4683B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on EEM and IEMG.

See all iShares ETFs
Vanguard
ETFs116
Total AUM$4676B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VWO.

See all Vanguard ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

EEM (iShares MSCI Emerging Markets ETF), IEMG (iShares Core MSCI Emerging Markets ETF), VWO (Vanguard FTSE Emerging Markets ETF) are dividend ETFs that take different approaches.

IEMG offers the highest reported yield at 1.60%, followed by EEM at 1.04%, VWO at 0.77%.

VWO is the cheapest with an expense ratio of 0.06%, compared to 0.09% for IEMG and 0.72% for EEM.

IEMG is the largest fund by assets ($164B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment: EEM generates ~$52.00 cash per distribution, IEMG generates ~$80.00 cash per distribution, VWO generates ~$19.25 cash per distribution at current distribution rates.

EEM yield1.04%
IEMG yield1.60%
VWO yield0.77%

Cost & efficiency

Over 10 years on $10,000: EEM costs ~$720, IEMG costs ~$90, VWO costs ~$60 in fees (simplified, not compounded).

EEM ER0.72%
IEMG ER0.09%
VWO ER0.06%

Strategy & risk

EEM tracks MSCI Emerging Markets Index with an index approach; IEMG tracks MSCI Emerging Markets Investable Market Index with an international approach; VWO tracks FTSE Emerging Markets All Cap China A Inclusion Index with an international approach.

EEM beta1.02
IEMG beta1.01
VWO beta0.75

Fund details

EEM is managed by iShares (launched 04/07/2003) with $31.7B in assets. IEMG is managed by iShares (launched 10/18/2012) with $164B in assets. VWO is managed by Vanguard (launched 03/04/2005) with $127B in assets.

EEM AUM$31.7B
IEMG AUM$164B
VWO AUM$127B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the difference between EEM and IEMG?

Same region, different breadth. EEM (iShares MSCI Emerging Markets ETF) tracks MSCI Emerging Markets Index. IEMG (iShares Core MSCI Emerging Markets ETF) tracks MSCI Emerging Markets Investable Market Index, a broader MSCI emerging book. VWO (Vanguard FTSE Emerging Markets ETF) tracks FTSE Emerging Markets All Cap China A Inclusion Index. Cost is 0.72%, 0.09%, and 0.06%; size is $31.7B, $164B, and $127B as of October 2026. Index rules and cost are the live differences.

Which of EEM, IEMG, VWO is best for dividend income?

It depends on your goals. IEMG currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

What is the difference between EEM, IEMG, VWO?

EEM (iShares MSCI Emerging Markets ETF) tracks MSCI Emerging Markets Index with an index approach, issued by iShares. IEMG (iShares Core MSCI Emerging Markets ETF) tracks MSCI Emerging Markets Investable Market Index with an international approach, issued by iShares. VWO (Vanguard FTSE Emerging Markets ETF) tracks FTSE Emerging Markets All Cap China A Inclusion Index with an international approach, issued by Vanguard.

Can I hold EEM, IEMG, VWO together?

Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which of EEM, IEMG and VWO is safest?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — EEM scores 84, IEMG scores 70, VWO scores 54, so EEM's payout currently looks the more resilient of the group. VWO has also shown lower price volatility (beta 0.75 vs 1.02 for EEM). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has the lowest fees among EEM, IEMG, VWO?

EEM has an expense ratio of 0.72%, IEMG has an expense ratio of 0.09%, VWO has an expense ratio of 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in EEM yields ~$52.00 cash per distribution ($104.00/year). $10,000 in IEMG yields ~$80.00 cash per distribution ($160.00/year). $10,000 in VWO yields ~$19.25 cash per distribution ($77.00/year).

More comparisons to explore

People also compare EEM with

EEM vs VWO

People also compare IEMG with

IEMG vs VWO

Popular comparisons

JEPI vs JEPQSCHD vs VYMVOO vs VTIJEPI vs SCHD

Dividend dates and history

EEM Dividend CalendarIEMG Dividend CalendarVWO Dividend CalendarEEM Dividend History

EEM vs IEMG vs VWO — at a glance

Generated October 3, 2026.

Overview

EEM, IEMG, and VWO are all index-tracking ETFs that provide broad exposure to emerging-markets equities, but they differ meaningfully in their underlying indexes, fee structures, and yield profiles. These structural differences create distinct risk and return characteristics despite similar overall EM equity positioning.

How they differ

The biggest difference is cost. VWO's reported beta of 0.75 differs noticeably from EEM's 1.02 and IEMG's 1.01, suggesting its FTSE-based index construction produces lower market sensitivity. Asset bases vary sharply: IEMG is the largest at $164B, VWO holds $127B, and EEM trails at $31.7B.

Who each is best for

  • EEM: Fits investors seeking exposure to the standard MSCI Emerging Markets Index with a long operational history, accepting the higher expense ratio as a trade-off for index familiarity.
  • IEMG: Designed for cost-conscious EM equity investors who want the broadest EM market cap exposure; the combination of the lowest fee, largest asset base, and higher-than-average yield appeals to core allocation strategies.
  • VWO: Matches investors comfortable with Vanguard's execution and the FTSE index's China A-share inclusion; the quarterly distribution frequency and lower reported beta suit those preferring smaller liquidity draws and potentially dampened market swings.

Key risks to know

  • Index construction differences: VWO's FTSE All Cap China A framework and IEMG's Investable Market approach may weight countries, sectors, and individual securities differently than EEM's standard MSCI methodology; overlapping but not identical exposures mean performance can diverge in concentrated country rallies or crashes.
  • EM currency and political risk: All three carry unhedged emerging-market currency exposure and sensitivity to policy shifts, capital controls, or credit events in large-weight countries; EM volatility can exceed developed markets during stress periods.
  • Valuation and cyclicality: Emerging-market equities are historically more economically sensitive and carry higher drawdown risk during recessions or global risk-off episodes; the lower yields reflect lower dividend payout ratios than some developed-market peers. EEM's higher fee represents a meaningful structural disadvantage relative to the two alternatives. The index and beta differences mean these are not perfectly interchangeable — the choice depends on which underlying methodology fits your view of emerging-market opportunity. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener

These comparisons follow the Dividend Vision methodology.