- ISIN
- US9219395004
- CUSIP
- 921939500
- Issuer
- Vanguard
- Inception Date
- Jun 27, 2011
- Category
- Emerging Markets Equities
- Min. Investment
- $3,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $1B
Share Price Chart
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Performance
VMMSX Performance Chart
Vanguard Emerging Markets Select Stock Fund (VMMSX) is up 17.9% since the beginning of the year. VMMSX is currently trading at $33 per share. Investors who bought $1,000 worth of VMMSX shares 5 years ago would now be looking at an investment worth $1,391.
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Returns By Period
Vanguard Emerging Markets Select Stock Fund (VMMSX) has returned 17.85% so far this year and 43.08% over the past 12 months. Over the last ten years, VMMSX has returned 10.41% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard Emerging Markets Select Stock Fund
- 1D
- 1.41%
- 1M
- 2.22%
- YTD
- 17.85%
- 6M
- 19.34%
- 1Y
- 43.08%
- 3Y*
- 19.12%
- 5Y*
- 6.83%
- 10Y*
- 10.41%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VMMSX Monthly Returns History
Based on dividend-adjusted daily data since Jun 27, 2011, VMMSX's average daily return is +0.03%, while the average monthly return is +0.60%. At this rate, an investment would double in approximately 9.7 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2022 with a return of +17.0%, while the worst month was Mar 2020 at -20.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VMMSX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +7.4%, while the worst single day was Mar 16, 2020 at -10.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.76% | 4.35% | -9.52% | 9.52% | 3.33% | 0.49% | 17.85% | ||||||
| 2025 | 2.74% | 0.87% | 1.69% | -0.45% | 4.23% | 6.09% | 1.34% | 3.69% | 6.35% | 2.62% | -0.21% | 2.20% | 35.68% |
| 2024 | -4.26% | 3.54% | 3.22% | 1.28% | 1.63% | 0.97% | -0.32% | 2.10% | 6.93% | -4.22% | -2.40% | -2.10% | 5.91% |
| 2023 | 9.81% | -6.95% | 2.95% | -0.54% | -2.53% | 5.65% | 6.50% | -6.65% | -2.71% | -3.74% | 6.16% | 3.84% | 10.58% |
| 2022 | 1.35% | -5.58% | -3.08% | -6.67% | 1.42% | -6.06% | -1.04% | -0.00% | -10.14% | -2.74% | 16.99% | -1.92% | -18.15% |
| 2021 | 3.02% | 2.49% | -0.21% | 2.11% | 2.04% | 0.21% | -6.14% | 1.83% | -4.31% | 1.73% | -5.28% | 1.71% | -1.40% |
Benchmark Metrics
Vanguard Emerging Markets Select Stock Fund has an annualized alpha of -3.58%, beta of 0.82, and R2 of 0.60 versus S&P 500 Index. Calculated based on daily prices since June 27, 2011.
- This fund participated in 103.47% of S&P 500 Index downside but only 74.90% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -3.58% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -3.58%
- Beta
- 0.82
- R²
- 0.60
- Upside Capture
- 74.90%
- Downside Capture
- 103.47%
Expense Ratio
VMMSX has an expense ratio of 0.84%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VMMSX ranks 70 for risk / return — better than 70% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Emerging Markets Select Stock Fund (VMMSX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VMMSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 2.78 | +0.36 |
| Martin ratioReturn relative to average drawdown | 11.95 | 12.44 | -0.49 |
Dividends
Dividend History
Vanguard Emerging Markets Select Stock Fund provided a 1.97% dividend yield over the last twelve months, with an annual payout of $0.65 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.65 | $0.65 | $0.71 | $0.63 | $0.72 | $1.66 | $0.28 | $0.47 | $0.49 | $0.35 | $0.25 | $0.28 |
Dividend yield | 1.97% | 2.32% | 3.33% | 3.05% | 3.71% | 6.80% | 1.04% | 2.04% | 2.53% | 1.54% | 1.44% | 1.87% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Emerging Markets Select Stock Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.65 | $0.65 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.71 | $0.71 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $0.63 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.72 | $0.72 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.66 | $1.66 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Emerging Markets Select Stock Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Emerging Markets Select Stock Fund was 39.28%, occurring on Jan 21, 2016. Recovery took 376 trading sessions.
The current Vanguard Emerging Markets Select Stock Fund drawdown is 2.56%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2016 bear market2016 | -39.28%Jan 2016 | 1y 4mo | 1y 6mo | 2y 10moSep 2014 - Jul 2017 |
COVID crash2020 | -38.82%Mar 2020 | 2y 1mo | 7mo 21d | 2y 9moJan 2018 - Nov 2020 |
Bear market2022 | -38.33%Oct 2022 | 1y 8mo | 2y 9mo | 4y 5moFeb 2021 - Jul 2025 |
2011 bear market2011 | -28.00%Oct 2011 | 2mo 27d | 2y 7mo | 2y 10moJul 2011 - May 2014 |
2026 correction2026 | -13.46%Mar 2026 | 1mo 2d | 1mo 7d | 2mo 9dFeb 2026 - May 2026 |
Drawdown Indicators
| VMMSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -56.78% | +17.50% |
Max Drawdown (1Y)Largest decline over 1 year | -13.46% | -9.10% | -4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -18.90% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -36.84% | -25.43% | -11.41% |
Max Drawdown (10Y)Largest decline over 10 years | -38.82% | -33.92% | -4.90% |
Current DrawdownCurrent decline from peak | -2.56% | -1.80% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -10.71% | -2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.03% | +1.50% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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