Holding period impacts the return of your trades.

VWO price moves up 1% or more for 28% of trading days (or every 4 days).
VWO price moves up 2% or more for 11% of trading days (or every 9 days).
VWO price moves up 3% or more for 4% of trading days (or every 25 days).
VWO price moves up 5% or more for 2% of trading days (or every 63 days).
VWO price moves up 10% or more for 0% of trading days (or every more than 253 days).

VWO price moves up 1% or more for 41% of trading days (or evry 2 days) if holding the trade for 3 days.
VWO price moves up 2% or more for 23% of trading days (or evry 4 days) if holding the trade for 3 days.
VWO price moves up 3% or more for 9% of trading days (or every 11 days) if holding the trade for 3 days.
VWO price moves up 5% or more for 4% of trading days (or every 23 days) if holding the trade for 3 days.
VWO price moves up 10% or more for 0% of trading days (or every more than 253 days) if holding the trade for 3 days.

VWO price moves up 1% or more for 49% of trading days (or every 2 days) if holding the trade for 5 days.
VWO price moves up 2% or more for 30% of trading days (or every 3 days) if holding the trade for 5 days.
VWO price moves up 3% or more for 19% of trading days (or every 5 days) if holding the trade for 5 days.
VWO price moves up 5% or more for 8% of trading days (or every 13 days) if holding the trade for 5 days.
VWO price moves up 10% or more for 0% of trading days (or every more than 253 days) if holding the trade for 5 days.

VWO price moves up 1% or more for 68% of trading days (or every 1 days) if holding the trade for 22 days.
VWO price moves up 3% or more for 59% of trading days (or every 2 days) if holding the trade for 22 days.
VWO price moves up 3% or more for 52% of trading days (or every 2 days) if holding the trade for 22 days.
VWO price moves up 5% or more for 35% of trading days (or every 3 days) if holding the trade for 22 days.
VWO price moves up 10% or more for 9% of trading days (or every 12 days) if holding the trade for 22 days.