VWO invests in emerging-market equities, with top holdings weighted toward Taiwanese and Chinese names like TSMC, Tencent, and Alibaba. It offers a 2.29% dividend yield and posted an 18.2% one-year return.

Emerging markets carry more geopolitical and regulatory risk than U.S. equities — Chinese government regulation being a notable example. It suits investors who want semiconductor (Taiwan) exposure combined with emerging-market growth potential, but personal risk tolerance for China exposure should be checked first.