DEMAX vs. VMMSX
Compare and contrast key facts about Nomura Emerging Markets Fund Class A (DEMAX) and Vanguard Emerging Markets Select Stock Fund (VMMSX).
DEMAX is an actively managed fund by Nomura. It was launched on Jun 10, 1996. VMMSX is managed by Vanguard. It was launched on Jun 27, 2011.
Performance
DEMAX vs. VMMSX - Performance Comparison
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DEMAX vs. VMMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 13.26% | 86.33% | 6.25% | 17.34% | -28.85% | -2.32% | 25.54% | 24.05% | -17.32% | 41.62% |
VMMSX Vanguard Emerging Markets Select Stock Fund | 0.57% | 35.68% | 5.91% | 10.58% | -18.15% | -1.40% | 15.79% | 21.42% | -12.53% | 32.01% |
Returns By Period
In the year-to-date period, DEMAX achieves a 13.26% return, which is significantly higher than VMMSX's 0.57% return. Over the past 10 years, DEMAX has outperformed VMMSX with an annualized return of 14.09%, while VMMSX has yielded a comparatively lower 8.74% annualized return.
DEMAX
- 1D
- 0.97%
- 1M
- -18.27%
- YTD
- 13.26%
- 6M
- 43.25%
- 1Y
- 104.18%
- 3Y*
- 34.89%
- 5Y*
- 12.22%
- 10Y*
- 14.09%
VMMSX
- 1D
- -1.12%
- 1M
- -12.19%
- YTD
- 0.57%
- 6M
- 5.25%
- 1Y
- 29.49%
- 3Y*
- 14.96%
- 5Y*
- 4.13%
- 10Y*
- 8.74%
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DEMAX vs. VMMSX - Expense Ratio Comparison
DEMAX has a 1.42% expense ratio, which is higher than VMMSX's 0.84% expense ratio.
Return for Risk
DEMAX vs. VMMSX — Risk / Return Rank
DEMAX
VMMSX
DEMAX vs. VMMSX - 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 Select Stock Fund (VMMSX). 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 | VMMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.10 | 1.64 | +1.46 |
Sortino ratioReturn per unit of downside risk | 3.27 | 2.16 | +1.12 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.32 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 4.78 | 1.97 | +2.81 |
Martin ratioReturn relative to average drawdown | 18.45 | 7.99 | +10.47 |
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 | VMMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 1.64 | +1.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.24 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.48 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.26 | +0.17 |
Correlation
The correlation between DEMAX and VMMSX is 0.90, 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. VMMSX - Dividend Comparison
DEMAX's dividend yield for the trailing twelve months is around 16.80%, more than VMMSX's 2.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 16.80% | 19.03% | 1.74% | 2.76% | 1.60% | 3.16% | 0.56% | 0.57% | 0.34% | 1.59% | 0.70% | 0.03% |
VMMSX Vanguard Emerging Markets Select Stock Fund | 2.30% | 2.32% | 3.33% | 3.05% | 3.71% | 6.80% | 1.04% | 2.04% | 2.53% | 1.54% | 1.44% | 1.87% |
Drawdowns
DEMAX vs. VMMSX - Drawdown Comparison
The maximum DEMAX drawdown since its inception was -63.23%, which is greater than VMMSX's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for DEMAX and VMMSX.
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Drawdown Indicators
| DEMAX | VMMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.23% | -39.28% | -23.95% |
Max Drawdown (1Y)Largest decline over 1 year | -20.32% | -13.46% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -44.15% | -37.39% | -6.76% |
Max Drawdown (10Y)Largest decline over 10 years | -46.51% | -38.82% | -7.69% |
Current DrawdownCurrent decline from peak | -19.55% | -13.46% | -6.09% |
Average DrawdownAverage peak-to-trough decline | -18.84% | -13.53% | -5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 3.32% | +1.95% |
Volatility
DEMAX vs. VMMSX - Volatility Comparison
Nomura Emerging Markets Fund Class A (DEMAX) has a higher volatility of 19.13% compared to Vanguard Emerging Markets Select Stock Fund (VMMSX) at 8.14%. This indicates that DEMAX's price experiences larger fluctuations and is considered to be riskier than VMMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEMAX | VMMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.13% | 8.14% | +10.99% |
Volatility (6M)Calculated over the trailing 6-month period | 28.50% | 12.78% | +15.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.35% | 17.75% | +15.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.12% | 17.52% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.94% | 18.27% | +3.67% |