DEMAX vs. VEIEX
Compare and contrast key facts about Nomura Emerging Markets Fund Class A (DEMAX) and Vanguard Emerging Markets Stock Index Fund Investor Shares (VEIEX).
DEMAX is an actively managed fund by Nomura. It was launched on Jun 10, 1996. VEIEX is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Markets All Cap China A Inclusion Index. It was launched on May 4, 1994.
Performance
DEMAX vs. VEIEX - Performance Comparison
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DEMAX vs. VEIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 14.10% | 86.33% | 6.25% | 17.34% | -28.85% | -2.32% | 25.54% | 24.05% | -17.32% | 41.62% |
VEIEX Vanguard Emerging Markets Stock Index Fund Investor Shares | -0.26% | 24.58% | 11.15% | 8.66% | -17.91% | 0.72% | 15.05% | 20.11% | -14.73% | 31.14% |
Returns By Period
In the year-to-date period, DEMAX achieves a 14.10% return, which is significantly higher than VEIEX's -0.26% return. Over the past 10 years, DEMAX has outperformed VEIEX with an annualized return of 14.18%, while VEIEX has yielded a comparatively lower 7.36% annualized return.
DEMAX
- 1D
- 0.74%
- 1M
- -17.26%
- YTD
- 14.10%
- 6M
- 42.67%
- 1Y
- 102.96%
- 3Y*
- 35.22%
- 5Y*
- 11.89%
- 10Y*
- 14.18%
VEIEX
- 1D
- 2.35%
- 1M
- -6.43%
- YTD
- -0.26%
- 6M
- 0.31%
- 1Y
- 21.25%
- 3Y*
- 13.15%
- 5Y*
- 3.42%
- 10Y*
- 7.36%
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DEMAX vs. VEIEX - Expense Ratio Comparison
DEMAX has a 1.42% expense ratio, which is higher than VEIEX's 0.29% expense ratio.
Return for Risk
DEMAX vs. VEIEX — Risk / Return Rank
DEMAX
VEIEX
DEMAX vs. VEIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura Emerging Markets Fund Class A (DEMAX) and Vanguard Emerging Markets Stock Index Fund Investor Shares (VEIEX). 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.
| DEMAX | VEIEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.21 | 1.42 | +1.80 |
Sortino ratioReturn per unit of downside risk | 3.36 | 1.93 | +1.42 |
Omega ratioGain probability vs. loss probability | 1.52 | 1.27 | +0.25 |
Calmar ratioReturn relative to maximum drawdown | 4.81 | 1.92 | +2.89 |
Martin ratioReturn relative to average drawdown | 19.04 | 7.00 | +12.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DEMAX | VEIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.21 | 1.42 | +1.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.23 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.45 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.31 | +0.12 |
Correlation
The correlation between DEMAX and VEIEX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DEMAX vs. VEIEX - Dividend Comparison
DEMAX's dividend yield for the trailing twelve months is around 16.67%, more than VEIEX's 2.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 16.67% | 19.03% | 1.74% | 2.76% | 1.60% | 3.16% | 0.56% | 0.57% | 0.34% | 1.59% | 0.70% | 0.03% |
VEIEX Vanguard Emerging Markets Stock Index Fund Investor Shares | 2.55% | 2.59% | 2.97% | 3.32% | 3.87% | 2.41% | 1.72% | 3.07% | 2.67% | 2.14% | 2.33% | 3.04% |
Drawdowns
DEMAX vs. VEIEX - Drawdown Comparison
The maximum DEMAX drawdown since its inception was -63.23%, roughly equal to the maximum VEIEX drawdown of -66.47%. Use the drawdown chart below to compare losses from any high point for DEMAX and VEIEX.
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Drawdown Indicators
| DEMAX | VEIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.23% | -66.47% | +3.24% |
Max Drawdown (1Y)Largest decline over 1 year | -20.32% | -11.10% | -9.22% |
Max Drawdown (5Y)Largest decline over 5 years | -44.15% | -32.73% | -11.42% |
Max Drawdown (10Y)Largest decline over 10 years | -46.51% | -36.30% | -10.21% |
Current DrawdownCurrent decline from peak | -18.96% | -8.97% | -9.99% |
Average DrawdownAverage peak-to-trough decline | -18.84% | -17.29% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 3.04% | +2.10% |
Volatility
DEMAX vs. VEIEX - Volatility Comparison
Nomura Emerging Markets Fund Class A (DEMAX) has a higher volatility of 19.20% compared to Vanguard Emerging Markets Stock Index Fund Investor Shares (VEIEX) at 6.91%. This indicates that DEMAX's price experiences larger fluctuations and is considered to be riskier than VEIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEMAX | VEIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.20% | 6.91% | +12.29% |
Volatility (6M)Calculated over the trailing 6-month period | 28.39% | 10.92% | +17.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.29% | 15.41% | +17.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.12% | 15.22% | +7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.94% | 16.39% | +5.55% |