VWOB — Vanguard Emerging Markets Government Bond Index Fund

Overview

The Vanguard Emerging Markets Government Bond Index Fund (VWOB) operates within the International Bonds category, which ETFValuer currently tracks with 3 funds. Issued by Vanguard, this fund has accumulated assets under management of $6.76 billion and trades at a price of $66.62. It holds an overall rank of #69 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 59.3 out of 100. The fund carries an expense ratio of 0.15% while offering a dividend yield of 5.81%. The combination of a substantial asset base and a moderate expense ratio suggests established investor adoption relative to the broader market. Its position in the middle of the overall ranking spectrum reflects a balanced profile among the tracked universe.

Over the most recent trading day, the fund declined by 0.09%, followed by a weekly loss of 0.46%. Momentum shifted positively over the next month with a gain of 0.56%, which accelerated to a 3-month return of 2.19%. The 6-month performance moderated to a 1.07% increase, while year-to-date returns stand at 1.19%. A significant expansion in returns is evident over the longer term, with the 1-year return reaching 8.17% and the 3-year return totaling 26.25%. This trajectory indicates a divergence where short-term fluctuations have been overshadowed by strong multi-year growth.

VWOB is assigned a Very Low volatility label despite exhibiting a beta of 1.10, which suggests its price movements are slightly more sensitive to market changes than the benchmark. The fund generated a Sharpe ratio of 0.60, indicating a moderate level of risk-adjusted return relative to the volatility experienced. During market stress, the fund experienced a maximum drawdown of -7.70%, representing the largest peak-to-trough decline recorded. This combination of a low volatility classification with a beta above 1.0 implies that while the fund may not experience extreme daily swings, it still participates actively in broader market trends. The Sharpe ratio and drawdown figures together suggest that the fund has managed downside risk reasonably well while capturing significant upside over the 3-year period.

AI-generated summary based on the data on this page.

VWOB Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.13 (as of 2026-07-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

High-Yield Credit Spread: 2.67% (as of 2026-07-07) — The extra yield investors demand to hold high-yield corporate bonds over Treasuries — a real-time gauge of credit risk appetite relevant to this fund’s holdings.

Trade-Weighted US Dollar Index: 120.69 (as of 2026-07-02) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

VWOB Performance History

How VWOB Compares to Other International Bonds ETFs