EMSF vs VOO
Matthews Emerging Markets Sustainable Future Active ETF vs Vanguard S&P 500 ETF
Which is better, EMSF or VOO?
All Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. EMSF led over 1Y, VOO over 3Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 49.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EMSF | VOO |
|---|---|---|
| Expense Ratio | 0.79% | 0.03%Best |
| AUM | $45M | $1.0T |
| Dividend Yield | 1.35% | 1.04% |
| Holdings | 58 | 506 |
| YTD Return | +35.04%Best | +14.88% |
| 1Y Return | +35.97%Best | +17.30% |
| 3Y Return (annualized) | +17.95% | +23.04%Best |
| 5Y Return (annualized) | - | +13.97% |
| Volatility (annualized) | 22.1% | 12.3%Best |
| Max Drawdown | -24.8% | -18.7%Best |
| $10,000 over 3 years | $16,268 | $18,613Best |
| Top 10 Weight | 49.7% | 37.6%Best |
| Fund Family | Matthews Asia Funds | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Sep 21, 2023 | Sep 7, 2010 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 22, 2023 to Oct 9, 2026 (3 years).
EMSF vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
EMSF vs VOO Performance
Matthews Emerging Markets Sustainable Future Active ETF (EMSF) is an ETF from Matthews Asia Funds and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year EMSF returned +35.97% while VOO returned +17.30%. Year to date, EMSF is up 35.04% versus a gain of 14.88% for VOO.
Over three years, EMSF compounded at +17.95% per year against +23.04% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMSF has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 12.3% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -24.8% for EMSF and -18.7% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EMSF charges 0.79% per year while VOO charges 0.03%. On a $10,000 position that is $79 vs $3 annually, a gap of $76 per year that compounds over a long holding period. On income, EMSF currently yields 1.35% against 1.04% for VOO.
Holdings Overlap
1.6% of EMSF's money is in holdings VOO also owns. 0.6% of VOO's money is in holdings EMSF also owns.
EMSF and VOO share little of their money.
The two holdings books were reported 46 days apart, EMSF as of Sep 15, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 57 positions we hold weights for in EMSF and 494 in VOO, against full books of 58 and 506.
What only one of them owns
Our book lists 486 positions for VOO that do not appear in our book for EMSF (98.6% of the fund), and 3 for EMSF that do not appear in VOO (10.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EMSF | Weight in VOO | Difference |
|---|---|---|---|
| LRCXLam Research Corp | 1.56% | 0.57% | 0.99% |
You are not choosing between two funds in isolation.
Whichever of EMSF and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EMSF or VOO?
EMSF has an expense ratio of 0.79% while VOO charges 0.03%. VOO is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, EMSF or VOO?
Over the past year EMSF returned +35.97% vs +17.30% for VOO, so EMSF leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EMSF or VOO?
EMSF has been the more volatile fund at 22.1% annualized versus 12.3% for VOO. Worst drawdown: EMSF -24.8% vs VOO -18.7%.
Should I hold both EMSF and VOO?
EMSF and VOO have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EMSF and VOO?
1.6% of EMSF's money is in holdings VOO also owns. 0.6% of VOO's is in holdings EMSF also owns. They hold 1 positions in common, counted across the 57 positions we hold weights for in EMSF and 494 in VOO.
Which pays a higher dividend, EMSF or VOO?
EMSF yields 1.35% while VOO yields 1.04%, so EMSF currently pays the higher dividend yield.
Is VOO better than EMSF?
VOO has a lower expense ratio. EMSF led over 1Y, VOO over 3Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 49.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.