IAE vs VWO: Correlation
How closely do Voya Asia Pacific High Dividend Equity Income Fund ING Asia (IAE) and Vanguard FTSE Emerging Markets ETF (VWO) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAE and VWO?
Over the past 3 years, IAE and VWO moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 192.8 %².
In IAE's tracked universe of 17 assets, VWO sits right near the top at #2. Correlation aside, the last 12 months split them widely, with IAE ahead by 16.2 points (+37.8% versus +21.6%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IAE vs VWO: side by side
| IAE (Voya Asia Pacific High Dividend Equity Income Fund ING Asia) | VWO (Vanguard FTSE Emerging Markets ETF) | |
|---|---|---|
| 1-year return | +37.8% | +21.6% |
| 5-year return | +84.4% | +38.2% |
| Volatility (ann.) | 16.5% | 15.2% |
| Beta vs S&P 500 | 0.72 | 0.75 |
| Max drawdown (3Y) | -16.2% | -17.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 3.5 | – |
| Dividend yield | 0.00% | 2.36% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $162.0B |
| Sector / category | US Listed | ETF · International |
On the fund side, VWO sits in the Diversified Emerging Mkts category at Vanguard, with $162.0B under management, 4113 holdings, a 0.06% expense ratio, a 2.36% trailing dividend yield.
Year-by-year returns
| Year | IAE | VWO |
|---|---|---|
| 2022 | -14.0% | -18.0% |
| 2023 | +9.1% | +9.3% |
| 2024 | +13.4% | +10.6% |
| 2025 | +34.6% | +25.6% |
| 2026 | +29.9% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAE and VWO good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IAE and VWO?
As of 2026-08-27, the correlation of weekly returns between IAE and VWO is 0.77 over 3 years, 0.67 over 1 year and 0.79 over 5 years.
Is VWO a good diversifier for IAE?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iae-vs-vwo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iae-vs-vwo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IAE correlations · VWO correlations
