AIEMX vs. VEMIX
AIEMX (Alger Emerging Markets Fund) and VEMIX (Vanguard Emerging Markets Stock Index Fund Institutional Shares) are both Emerging Markets Equities funds. Over the past 10 years, AIEMX returned 7.29%/yr vs 7.61%/yr for VEMIX. Their correlation of 0.92 means they have usually moved in the same direction. AIEMX charges 1.45%/yr vs 0.06%/yr for VEMIX.
Performance
AIEMX vs. VEMIX - Performance Comparison
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Returns By Period
In the year-to-date period, AIEMX achieves a 15.08% return, which is significantly higher than VEMIX's 7.82% return. Both investments have delivered pretty close results over the past 10 years, with AIEMX having a 7.29% annualized return and VEMIX not far ahead at 7.61%.
AIEMX
- 1D
- 3.83%
- 1M
- -5.30%
- 6M
- 5.93%
- YTD
- 15.08%
- 1Y
- 30.11%
- 3Y*
- 13.81%
- 5Y*
- 1.99%
- 10Y*
- 7.29%
- ALL TIME*
- 3.64%
VEMIX
- 1D
- 1.70%
- 1M
- -1.72%
- 6M
- 2.68%
- YTD
- 7.82%
- 1Y
- 19.98%
- 3Y*
- 13.72%
- 5Y*
- 5.81%
- 10Y*
- 7.61%
- ALL TIME*
- 7.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AIEMX vs. VEMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIEMX Alger Emerging Markets Fund | 15.08% | 25.30% | 5.60% | 13.49% | -32.52% | -0.45% | 37.17% | 21.98% | -21.81% | 38.72% |
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | 7.82% | 24.80% | 11.38% | 8.85% | -17.75% | 0.91% | 15.26% | 20.35% | -14.55% | 31.42% |
Correlation
The correlation between AIEMX and VEMIX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.92 |
The correlation between AIEMX and VEMIX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
AIEMX vs. VEMIX — Risk / Return Rank
AIEMX
VEMIX
AIEMX vs. VEMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Emerging Markets Fund (AIEMX) and Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AIEMX | VEMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.66 | +0.16 |
| Martin ratioReturn relative to average drawdown | 5.89 | 5.53 | +0.36 |
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Drawdowns
AIEMX vs. VEMIX - Drawdown Comparison
The maximum AIEMX drawdown since its inception was -46.21%, smaller than the maximum VEMIX drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for AIEMX and VEMIX.
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Drawdown Indicators
| AIEMX | VEMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.21% | -66.43% | +20.22% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -11.05% | -4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -17.86% | -15.77% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -43.15% | -30.68% | -12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -46.21% | -36.04% | -10.17% |
Current DrawdownCurrent decline from peak | -12.30% | -5.42% | -6.88% |
Average DrawdownAverage peak-to-trough decline | -17.13% | -15.91% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 3.31% | +1.46% |
Volatility
AIEMX vs. VEMIX - Volatility Comparison
Alger Emerging Markets Fund (AIEMX) has a higher volatility of 10.67% compared to Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX) at 5.22%. This indicates that AIEMX's price experiences larger fluctuations and is considered to be riskier than VEMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIEMX | VEMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.67% | 5.22% | +5.45% |
Volatility (6M)Calculated over the trailing 6-month period | 22.79% | 13.82% | +8.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.69% | 16.00% | +8.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.41% | 15.59% | +4.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.04% | 16.50% | +3.54% |
AIEMX vs. VEMIX - Expense Ratio Comparison
AIEMX has a 1.45% expense ratio, which is higher than VEMIX's 0.06% expense ratio.
Dividends
AIEMX vs. VEMIX - Dividend Comparison
AIEMX's dividend yield for the trailing twelve months is around 0.04%, less than VEMIX's 2.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIEMX Alger Emerging Markets Fund | 0.04% | 0.05% | 0.31% | 0.00% | 0.00% | 4.19% | 0.00% | 5.08% | 2.35% | 3.58% | 0.00% | 0.00% |
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | 2.38% | 2.77% | 3.17% | 3.51% | 4.09% | 2.61% | 1.90% | 3.23% | 2.89% | 2.33% | 2.55% | 2.51% |
Frequently Asked Questions
AIEMX and VEMIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIEMX has higher volatility (10.67%) compared to VEMIX (5.22%). In terms of maximum drawdown, AIEMX dropped -46.21% vs VEMIX's -66.43%.
VEMIX currently has the higher Sharpe Ratio (1.15 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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