VWO vs GLD

Comparison between VANGUARD EMERGING MARKETS STOCK INDEX FUND ETF SHARES (VWO, ETF) and SPDR Gold Shares ETF (GLD, ETF).

5-Year PerformanceGLD has outperformed VWO, delivering a return of +20.4% compared to +5.8%

VWO vs GLD - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VWO(ETF)	GLD(ETF)
Net Assets	$146B	$155B
Expense Ratio	0.06%	0.40%
Max Drawdown	68.28%	45.56%
Sharpe Ratio	1.80	1.24
5Y Beta	0.70	0.18
5Y Dividends CAGR	16.14%	N/A

Net Assets

VWO

$146B

Winner

GLD

$155B

Expense Ratio

Winner

VWO

0.06%

GLD

0.40%

Max Drawdown

VWO

68.28%

Winner

GLD

45.56%

Sharpe Ratio

Winner

VWO

1.80

GLD

1.24

5Y Beta

VWO

0.70

Winner

GLD

0.18

5Y Dividends CAGR

VWO

16.14%

GLD

N/A

VWO vs GLD - Historical Returns

Returns include dividend reinvestment.

Period	VWO	GLD
1 month	+7.15%	-0.17%
3 months	+4.83%	-7.12%
6 months	+13.16%	+17.77%
1 year	+35.49%	+42.39%
5 years(CAGR)	+5.83%	+20.37%
10 years(CAGR)	+9.42%	+13.66%
Max(CAGR)	+7.04%	+11.20%

Winner

VWO

+7.15%

GLD

-0.17%

Winner

VWO

+4.83%

GLD

-7.12%

VWO

+13.16%

Winner

GLD

+17.77%

VWO

+35.49%

Winner

GLD

+42.39%

5Y(CAGR)

VWO

+5.83%

Winner

GLD

+20.37%

10Y(CAGR)

VWO

+9.42%

Winner

GLD

+13.66%

Max(CAGR)

VWO

+7.04%

Winner

GLD

+11.20%

VWO vs GLD - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	VWO	GLD
2026	+10.21%	+8.91%
2025	+25.92%	+61.48%
2024	+11.89%	+26.96%
2023	+8.10%	+11.76%
2022	-18.57%	+0.78%
2021	+0.83%	-6.24%
2020	+12.51%	+23.90%
2019	+20.22%	+17.78%
2018	-16.21%	-3.12%
2017	+30.06%	+11.93%
2016	+15.49%	+6.53%
2015	-14.83%	-11.06%
2014	+3.56%	-3.75%
2013	-6.87%	-28.83%
2012	+15.81%	+3.91%
2011	-19.55%	+10.14%
2010	+15.52%	+26.34%
2009	+67.34%	+24.45%
2008	-52.35%	+1.96%
2007	+36.37%	+32.40%
2006	+25.21%	+18.99%
2005	+23.53%	+19.90%
2004	N/A	-1.31%

VWO vs GLD Drawdown Comparison

The maximum drawdown for VWO was -67.69%, occurring on Nov 20, 2008. Recovery took 2482 trading sessions.

The maximum drawdown for GLD was -45.56%, occurring on Dec 17, 2015. Recovery took 2248 trading sessions.

The current VWO drawdown is -0.35%. The current GLD drawdown is -12.53%.

Rank	VWO	GLD
#1	-67.69% Oct 31, 2007 - Sep 11, 2017	-45.56% Aug 22, 2011 - Jul 29, 2020
#2	-36.39% Jan 26, 2018 - Nov 16, 2020	-29.41% Mar 17, 2008 - Sep 16, 2009
#3	-34.30% Feb 17, 2021 - Jun 26, 2025	-22.00% Aug 6, 2020 - Mar 4, 2024
#4	-25.99% May 9, 2006 - Dec 4, 2006	-21.79% May 12, 2006 - Sep 18, 2007
#5	-18.05% Jul 23, 2007 - Sep 21, 2007	-19.21% Jan 29, 2026 - Mar 26, 2026
#6	-11.61% Feb 22, 2007 - Apr 3, 2007	-12.70% Dec 2, 2009 - May 11, 2010
#7	-11.17% Feb 25, 2026 - Apr 17, 2026	-10.13% Oct 20, 2025 - Dec 22, 2025
#8	-11.00% Sep 30, 2005 - Nov 18, 2005	-9.52% Dec 3, 2004 - Sep 16, 2005
#9	-9.79% Mar 10, 2005 - Jul 11, 2005	-8.12% Oct 30, 2024 - Jan 30, 2025
#10	-6.63% Feb 1, 2006 - Apr 3, 2006	-8.04% Dec 6, 2010 - Mar 1, 2011
#11	-5.39% Jan 3, 2007 - Jan 24, 2007	-7.59% Jun 18, 2010 - Sep 14, 2010
#12	-4.98% Jan 21, 2021 - Feb 5, 2021	-7.11% Apr 21, 2025 - Jun 13, 2025
#13	-4.95% Oct 18, 2007 - Oct 26, 2007	-6.70% Dec 12, 2005 - Jan 3, 2006
#14	-4.84% Oct 29, 2025 - Jan 2, 2026	-6.08% Nov 7, 2007 - Dec 28, 2007
#15	-4.81% Aug 11, 2005 - Sep 6, 2005	-5.84% Apr 29, 2011 - Jul 12, 2011