IHD vs VWO: Correlation
Measured on weekly returns over the past three years, Voya Emerging Markets High Income Dividend Equity Fund (IHD) and Vanguard FTSE Emerging Markets ETF (VWO) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IHD and VWO?
Over the past 3 years, IHD and VWO moved with a correlation of 0.78, which is strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 197.0 %².
VWO is one of the assets that tracks IHD most closely: it ranks #2 out of the 13 assets we track against IHD. Their recent paths diverged sharply: over the last 12 months IHD outperformed by 20.6 percentage points (+42.2% for IHD against +21.6% for VWO).
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.
IHD vs VWO: side by side
| IHD (Voya Emerging Markets High Income Dividend Equity Fund) | VWO (Vanguard FTSE Emerging Markets ETF) | |
|---|---|---|
| 1-year return | +42.2% | +21.6% |
| 5-year return | +78.4% | +38.2% |
| Volatility (ann.) | 16.6% | 15.2% |
| Beta vs S&P 500 | 0.65 | 0.75 |
| Max drawdown (3Y) | -14.3% | -17.4% |
| Market cap | – | – |
| P/E (trailing) | 3.1 | – |
| 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 | IHD | VWO |
|---|---|---|
| 2022 | -17.2% | -18.0% |
| 2023 | +13.9% | +9.3% |
| 2024 | +6.7% | +10.6% |
| 2025 | +40.3% | +25.6% |
| 2026 | +29.1% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IHD and VWO good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IHD and VWO?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.71 over the last year and 0.83 over 5 years.
Is VWO a good diversifier for IHD?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ihd-vs-vwo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ihd-vs-vwo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IHD correlations · VWO correlations
