Overview
Dollar-denominated emerging-market government debt — around 944 sovereign and quasi-sovereign bonds paying 6% without currency risk.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| SAU | Saudi Arabia sovereigns | 5.8% |
| MEX | Mexico sovereigns | 5.2% |
| IDN | Indonesia sovereigns | 4.9% |
| UAE | UAE sovereigns | 4.4% |
| QAT | Qatar sovereigns | 3.9% |
| TUR | Turkey sovereigns | 3.6% |
| BRA | Brazil sovereigns | 3.4% |
| PHL | Philippines sovereigns | 3.1% |
| COL | Colombia sovereigns | 2.8% |
| OMN | Oman sovereigns | 2.4% |
Fund Details
Investment Thesis
EM governments borrowing in dollars pay a spread for their postcode, not their currency — VWOB collects 6% monthly from sovereigns whose balance sheets often look better than developed peers, with zero FX exposure. At 0.15% it's the cost leader against EMB, and the EM revival year pushed spreads tighter while the coupon kept flowing.
Who It's For
Yield investors adding the sovereign-credit spread without currency risk. Pairs with (or replaces) EMB on fee; EMLC next door is the local-currency version of the same idea.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $58.40 | -- |
| 2017 | $62.49 | +7.0% |
| 2018 | $58.74 | -6.0% |
| 2019 | $66.37 | +13.0% |
| 2020 | $69.03 | +4.0% |
| 2021 | $67.65 | -2.0% |
| 2022 | $54.79 | -19.0% |
| 2023 | $59.18 | +8.0% |
| 2024 | $60.95 | +3.0% |
| 2025 | $64.00 | +5.0% |
| Year | Yield |
|---|---|
| 2016 | 4.60% |
| 2017 | 4.40% |
| 2018 | 4.90% |
| 2019 | 4.60% |
| 2020 | 4.10% |
| 2021 | 3.90% |
| 2022 | 5.60% |
| 2023 | 6.20% |
| 2024 | 6.00% |
| 2025 | 6.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $1.5B | +50.0% |
| 2018 | $1.8B | +20.0% |
| 2019 | $2.5B | +38.9% |
| 2020 | $3B | +20.0% |
| 2021 | $3.5B | +16.7% |
| 2022 | $3B | -14.3% |
| 2023 | $4B | +33.3% |
| 2024 | $5B | +25.0% |
| 2025 | $5.8B | +16.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related Bonds & Treasuries ETFs
Markets. Intelligence. Daily.
Full briefs on 400+ ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →