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Vanguard FTSE Emerging Markets (VWO)
Look-through valuation · Global · Expense ratio 0.06 % · ISIN US9220428588
Price history (since 2005)
Monthly close since 2005. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| Taiwan Semiconductor Manufacturing Co. Ltd. 2330 | 14.7 % | +10.0 % | 72 |
| Tencent Holdings Ltd 0700 | 2.9 % | +62.2 % | 70 |
| Alibaba Group Holding Ltd 9988 | 2.2 % | n/a | n/a |
| MediaTek Inc 2454 | 1.5 % | −41.0 % | 79 |
| Delta Electronics Inc 2308 | 0.9 % | −76.9 % | 58 |
| China Construction Bank Corp 0939 | 0.9 % | +75.1 % | 46 |
| Hon Hai Precision Industry Co Ltd 2317 | 0.8 % | +17.3 % | 57 |
| Reliance Industries Limited RELIANCE | 0.7 % | −29.0 % | 50 |
| HDFC Bank Limited HDFCBANK | 0.7 % | −44.2 % | 51 |
| ICICI Bank Limited ICICIBANK | 0.7 % | −53.8 % | 57 |
| Industrial and Commercial Bank of China 1398 | 0.6 % | +65.9 % | 56 |
| PDD Holdings Inc. PDD | 0.5 % | n/a | n/a |
| ASE Industrial Holding Co Ltd 3711 | 0.5 % | −71.4 % | 51 |
| Xiaomi Corp 1810 | 0.5 % | +67.0 % | 51 |
| Bharti Airtel Limited BHARTIARTL | 0.5 % | +4.9 % | 58 |
| AngloGold Ashanti plc AU | 0.5 % | −23.7 % | 64 |
| Meituan 3690 | 0.4 % | n/a | n/a |
| Vale S.A. VALE3 | 0.4 % | n/a | n/a |
| Al Rajhi Bank 1120 | 0.4 % | −41.5 % | 45 |
| Bank of China Ltd H 3988 | 0.4 % | +91.9 % | 57 |
| Elite Material Co Ltd 2383 | 0.4 % | −84.1 % | 60 |
| Ping An Insurance 2318 | 0.4 % | +42.4 % | 57 |
| NetEase Inc 9999 | 0.4 % | n/a | n/a |
| Gold Fields Ltd GFI | 0.3 % | −49.2 % | 75 |
| Unimicron Technology Corp 3037 | 0.3 % | n/a | n/a |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 48 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +87.2 % below FV
- 2 FXI iShares China Large-Cap ETF +57.2 % below FV
- 3 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +43.7 % below FV
- 4 MCHI iShares MSCI China ETF +41.9 % below FV
- 5 ITB iShares U.S. Home Construction ETF +31.4 % below FV
- 6 TAN Invesco Solar ETF +26.0 % below FV
- 7 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +19.4 % below FV
- 8 FDNI First Trust Dow Jones International Internet ETF +19.3 % below FV
- 9 ESPO VanEck Video Gaming and eSports ETF +18.3 % below FV
- 10 XIDV Franklin International Dividend Booster Index ETF +17.9 % below FV
Frequently asked about VWO
Is VWO overvalued?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of VWO?
What is the expense ratio of VWO?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Vanguard FTSE Emerging Markets Index Fund ETF Shares an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Sep 25, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.