EEMX vs. VFIAX

Last updated Jun 5, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both funds - EEMX is a Asia Pacific Equities fund tracking the MSCI Emerging Markets ex Fossil Fuels Index, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, EEMX returned 7.82%/yr vs 13.87%/yr for VFIAX. A 0.61 correlation means they provide meaningful diversification when combined. EEMX charges 0.30%/yr vs 0.04%/yr for VFIAX.

Performance

EEMX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMX achieves a 27.49% return, which is significantly higher than VFIAX's 10.87% return.

EEMX

• 1D: -1.13%
• 1M: 6.59%
• YTD: 27.49%
• 6M: 30.63%
• 1Y: 54.54%
• 3Y*: 24.62%
• 5Y*: 7.82%
• 10Y*: —

VFIAX

• 1D: -0.73%
• 1M: 4.17%
• YTD: 10.87%
• 6M: 10.78%
• 1Y: 27.99%
• 3Y*: 22.42%
• 5Y*: 13.87%
• 10Y*: 15.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EEMX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	27.49%	35.23%	7.22%	9.80%	-19.75%	-3.57%	19.55%	18.56%	-16.76%	38.46%
VFIAX Vanguard 500 Index Fund Admiral Shares	10.87%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between EEMX and VFIAX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 26, 2016	0.61

The correlation between EEMX and VFIAX shifts across timeframes, from 0.61 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

EEMX vs. VFIAX - Sectors Allocation Comparison

Sectors	EEMX	VFIAX
Technology	38.7%	35.7%
Financial Services	20.7%	11.6%
Consumer Cyclical	10.1%	10.2%
Industrials	7.6%	8.3%
Communication Services	7.3%	11.3%
Basic Materials	6.3%	1.8%
Consumer Defensive	3.2%	4.9%
Healthcare	3.0%	8.5%
Utilities	1.5%	2.4%
Real Estate	1.1%	1.9%
Energy	0.5%	3.5%

Return for Risk

EEMX vs. VFIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EEMX

EEMX Risk / Return Rank: 80
EEMX Sharpe Ratio Rank: 82
EEMX Sortino Ratio Rank: 78
EEMX Omega Ratio Rank: 81
EEMX Calmar Ratio Rank: 78
EEMX Martin Ratio Rank: 80

VFIAX

VFIAX Risk / Return Rank: 66
VFIAX Sharpe Ratio Rank: 64
VFIAX Sortino Ratio Rank: 59
VFIAX Omega Ratio Rank: 59
VFIAX Calmar Ratio Rank: 67
VFIAX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EEMX vs. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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.

	EEMX	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.37	+0.27
Sortino ratio: Return per unit of downside risk	3.43	3.24	+0.19
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	3.95	3.16	+0.79
Martin ratio: Return relative to average drawdown	15.59	14.76	+0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMX vs. VFIAX - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 2.64, which is comparable to the VFIAX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of EEMX and VFIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EEMX	VFIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.37	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.83	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.47	+0.01

Drawdowns

EEMX vs. VFIAX - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for EEMX and VFIAX.

Drawdown Indicators

	EEMX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-55.20%	+15.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-8.90%	-4.99%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-18.75%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-37.08%	-24.53%	-12.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	-2.43%	-0.73%	-1.70%
Average Drawdown Average peak-to-trough decline	-14.73%	-9.40%	-5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	1.90%	+1.61%

Volatility

EEMX vs. VFIAX - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 8.86% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 2.92%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	2.92%	+5.94%
Volatility (6M) Calculated over the trailing 6-month period	18.24%	8.99%	+9.25%
Volatility (1Y) Calculated over the trailing 1-year period	20.78%	11.88%	+8.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	16.90%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	18.07%	+2.15%

EEMX vs. VFIAX - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

EEMX vs. VFIAX - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.77%, more than VFIAX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	1.77%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%	0.00%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.02%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both EEMX and VFIAX in my portfolio?

EEMX and VFIAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMX or VFIAX?

EEMX has higher volatility (8.86%) compared to VFIAX (2.92%). In terms of maximum drawdown, EEMX dropped -39.90% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

EEMX currently has the higher Sharpe Ratio (2.64 vs 2.37), 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.