When holding the Vanguard USD Emerging Markets Government Bond UCITS USD Accumulation (VEMA.L) ETF, how long should you stay invested to have high probability to achieve a positive return?
Over the selected period (~41 years), the longest duration with a negative return was 73 months (from January 1985 to January 1991).
This indicates that, within the same timeframe, any rolling period of 74 months or more has consistently resulted in a positive return.
Understanding this metric is crucial as it highlights the importance of a safe investment horizon. Knowing the minimum duration required to likely see positive returns helps investors set realistic expectations and reinforces the strategy of staying invested through market cycles. This approach can mitigate the emotional reactions to short-term market fluctuations and enhance the likelihood of achieving financial goals.
Vanguard USD Emerging Markets Government Bond UCITS USD Accumulation (VEMA.L) ETF: Historical Returns
Previous vs subsequent Returns
Is there a correlation between past and future returns over all 10-year rolling periods?
The following chart illustrates the relationship between past returns (x-axis) and subsequent returns (y-axis).
Data points are aggregated to show occurrences, and you can zoom in by clicking or drawing over the desired area.
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As of Feb 28, 2026, the annualized return of the previous 10 years has been 4.48%.
Rolling Returns
A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.
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Rolling Period Analysis
By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the simulation settings.
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| Worst | Median | Best | Negative Periods |
|---|---|---|---|
|
-30.76%
Sep 1997 - Aug 1998 |
+7.98% |
+59.56%
Sep 1992 - Aug 1993 |
26.29%
127 out of 483 |
|
-31.67%
Sep 1997 - Aug 1998 |
+5.08% |
+55.04%
Sep 1992 - Aug 1993 |
34.37%
166 out of 483 |
|
-10.02%
Jan 1986 - Dec 1987 |
+7.96% |
+42.11%
Sep 1998 - Aug 2000 |
13.80%
65 out of 471 |
|
-13.56%
Dec 1986 - Nov 1988 |
+5.16% |
+40.84%
Sep 1998 - Aug 2000 |
27.60%
130 out of 471 |
|
-7.64%
Jan 1985 - Dec 1987 |
+9.53% |
+33.66%
Sep 1998 - Aug 2001 |
7.41%
34 out of 459 |
|
-11.51%
Jan 1985 - Dec 1987 |
+6.23% |
+32.07%
Sep 1998 - Aug 2001 |
19.17%
88 out of 459 |
|
-3.70%
Nov 1986 - Oct 1990 |
+10.53% |
+25.23%
Sep 1998 - Aug 2002 |
5.15%
23 out of 447 |
|
-8.82%
Nov 1986 - Oct 1990 |
+8.11% |
+23.80%
Sep 1998 - Aug 2002 |
16.78%
75 out of 447 |
|
-0.62%
Sep 2019 - Aug 2024 |
+10.40% |
+26.75%
Sep 1998 - Aug 2003 |
1.38%
6 out of 435 |
|
-5.13%
Jul 2020 - Jun 2025 |
+7.97% |
+25.25%
Sep 1998 - Aug 2003 |
17.93%
78 out of 435 |
|
-1.38%
Feb 1985 - Jan 1991 |
+10.45% |
+22.13%
Feb 1991 - Jan 1997 |
0.71%
3 out of 423 |
|
-6.12%
Feb 1985 - Jan 1991 |
+7.65% |
+20.41%
Sep 1998 - Aug 2004 |
15.37%
65 out of 423 |
|
+0.40%
Nov 2016 - Oct 2023 |
+10.67% |
+23.21%
Apr 1995 - Mar 2002 |
0.00%
0 out of 411 |
|
-3.34%
Nov 2016 - Oct 2023 |
+7.73% |
+21.36%
Apr 1995 - Mar 2002 |
10.46%
43 out of 411 |
|
+1.59%
Nov 2016 - Oct 2024 |
+10.68% |
+20.71%
Apr 1995 - Mar 2003 |
0.00%
0 out of 399 |
|
-2.04%
Jun 2017 - May 2025 |
+8.14% |
+18.89%
Apr 1995 - Mar 2003 |
5.01%
20 out of 399 |
|
+2.33%
Sep 2016 - Aug 2025 |
+11.59% |
+19.22%
Sep 1992 - Aug 2001 |
0.00%
0 out of 387 |
|
-1.27%
Sep 2016 - Aug 2025 |
+8.50% |
+17.27%
Apr 1995 - Mar 2004 |
2.33%
9 out of 387 |
|
+3.78%
May 2013 - Apr 2023 |
+11.13% |
+18.66%
Mar 1992 - Feb 2002 |
0.00%
0 out of 375 |
|
+0.87%
Mar 1985 - Feb 1995 |
+8.55% |
+16.63%
May 1992 - Apr 2002 |
0.00%
0 out of 375 |
|
+3.91%
Dec 2012 - Nov 2023 |
+11.25% |
+19.63%
Feb 1991 - Jan 2002 |
0.00%
0 out of 363 |
|
+1.08%
Dec 2012 - Nov 2023 |
+8.17% |
+16.94%
Feb 1991 - Jan 2002 |
0.00%
0 out of 363 |
|
+3.89%
May 2013 - Apr 2025 |
+11.33% |
+17.84%
Mar 1991 - Feb 2003 |
0.00%
0 out of 351 |
|
+0.98%
May 2013 - Apr 2025 |
+8.30% |
+15.30%
Mar 1991 - Feb 2003 |
0.00%
0 out of 351 |
|
+4.37%
Mar 2013 - Feb 2026 |
+10.87% |
+18.22%
Sep 1990 - Aug 2003 |
0.00%
0 out of 339 |
|
+1.44%
Jul 2012 - Jun 2025 |
+8.00% |
+15.61%
Oct 1990 - Sep 2003 |
0.00%
0 out of 339 |
|
+4.83%
Sep 2010 - Aug 2024 |
+11.56% |
+17.07%
Nov 1990 - Oct 2004 |
0.00%
0 out of 327 |
|
+1.86%
Sep 2010 - Aug 2024 |
+8.56% |
+14.65%
Nov 1990 - Oct 2004 |
0.00%
0 out of 327 |
|
+4.78%
Jun 2010 - May 2025 |
+12.03% |
+17.16%
Jan 1991 - Dec 2005 |
0.00%
0 out of 315 |
|
+1.77%
Jun 2010 - May 2025 |
+9.15% |
+14.70%
Jan 1991 - Dec 2005 |
0.00%
0 out of 315 |
|
+5.53%
Mar 2010 - Feb 2026 |
+11.86% |
+16.10%
Nov 1990 - Oct 2006 |
0.00%
0 out of 303 |
|
+2.54%
Mar 2010 - Feb 2026 |
+9.27% |
+13.67%
Nov 1990 - Oct 2006 |
0.00%
0 out of 303 |
|
+5.77%
Jan 2009 - Dec 2025 |
+12.17% |
+15.65%
Dec 1988 - Nov 2005 |
0.00%
0 out of 291 |
|
+2.74%
Jan 2009 - Dec 2025 |
+9.43% |
+13.03%
Jan 1992 - Dec 2008 |
0.00%
0 out of 291 |
|
+6.38%
Mar 2006 - Feb 2024 |
+12.10% |
+15.95%
Jan 1991 - Dec 2008 |
0.00%
0 out of 279 |
|
+3.36%
Mar 2006 - Feb 2024 |
+9.31% |
+13.42%
Jan 1991 - Dec 2008 |
0.00%
0 out of 279 |
|
+6.45%
Apr 2006 - Mar 2025 |
+12.02% |
+15.61%
Oct 1990 - Sep 2009 |
0.00%
0 out of 267 |
|
+3.43%
Apr 2006 - Mar 2025 |
+9.41% |
+13.06%
Oct 1990 - Sep 2009 |
0.00%
0 out of 267 |
|
+6.41%
Jan 2006 - Dec 2025 |
+11.95% |
+15.64%
Nov 1990 - Oct 2010 |
0.00%
0 out of 255 |
|
+3.40%
Jan 2006 - Dec 2025 |
+9.46% |
+13.08%
Nov 1990 - Oct 2010 |
0.00%
0 out of 255 |
|
+7.88%
Feb 2001 - Jan 2026 |
+11.92% |
+13.87%
Jan 1988 - Dec 2012 |
0.00%
0 out of 195 |
|
+5.10%
Feb 2001 - Jan 2026 |
+9.27% |
+11.30%
Sep 1992 - Aug 2017 |
0.00%
0 out of 195 |
|
+9.13%
Feb 1996 - Jan 2026 |
+11.42% |
+12.77%
Jan 1988 - Dec 2017 |
0.00%
0 out of 135 |
|
+6.54%
Feb 1996 - Jan 2026 |
+8.77% |
+10.27%
Nov 1990 - Oct 2020 |
0.00%
0 out of 135 |
Vanguard USD Emerging Markets Government Bond UCITS USD Accumulation (VEMA.L) ETF: Historical Returns

