FMX vs. VEA

Last updated Jul 17, 2026

FMX (Fomento Económico Mexicano, S.A.B. de C.V.) is a stock, while VEA (Vanguard FTSE Developed Markets ETF) is Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, FMX returned 6.58%/yr vs 10.02%/yr for VEA. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

FMX vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fomento Económico Mexicano, S.A.B. de C.V. (FMX) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMX achieves a 35.85% return, which is significantly higher than VEA's 12.88% return. Over the past 10 years, FMX has underperformed VEA with an annualized return of 6.58%, while VEA has yielded a comparatively higher 10.02% annualized return.

FMX

• 1D: 0.56%
• 1M: 2.95%
• 6M: 33.33%
• YTD: 35.85%
• 1Y: 44.14%
• 3Y*: 12.75%
• 5Y*: 13.61%
• 10Y*: 6.58%

VEA

• 1D: -1.12%
• 1M: -2.66%
• 6M: 8.56%
• YTD: 12.88%
• 1Y: 27.21%
• 3Y*: 17.68%
• 5Y*: 9.88%
• 10Y*: 10.02%

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

FMX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMX Fomento Económico Mexicano, S.A.B. de C.V.	35.85%	29.05%	-32.57%	70.14%	2.91%	4.05%	-17.78%	11.64%	-6.85%	25.12%
VEA Vanguard FTSE Developed Markets ETF	12.88%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between FMX and VEA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 26, 2007	0.51

Over the past year, the correlation between FMX and VEA has dropped to 0.28 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

FMX vs. VEA — Risk / Return Rank

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

FMX

FMX Risk / Return Rank: 86
FMX Sharpe Ratio Rank: 88
FMX Sortino Ratio Rank: 86
FMX Omega Ratio Rank: 84
FMX Calmar Ratio Rank: 84
FMX Martin Ratio Rank: 86

VEA

VEA Risk / Return Rank: 59
VEA Sharpe Ratio Rank: 59
VEA Sortino Ratio Rank: 58
VEA Omega Ratio Rank: 59
VEA Calmar Ratio Rank: 58
VEA Martin Ratio Rank: 62

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.

FMX vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fomento Económico Mexicano, S.A.B. de C.V. (FMX) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	FMX	VEA	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.61	+0.14
Sortino ratio: Return per unit of downside risk	2.44	2.22	+0.22
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	2.68	2.35	+0.32
Martin ratio: Return relative to average drawdown	7.76	8.89	-1.12

FMX vs. VEA - Sharpe Ratio Comparison

The current FMX Sharpe Ratio is 1.75, which is comparable to the VEA Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FMX and VEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMX vs. VEA - Drawdown Comparison

The maximum FMX drawdown since its inception was -61.02%, roughly equal to the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for FMX and VEA.

Drawdown Indicators

	FMX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-61.02%	-60.68%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-16.57%	-11.63%	-4.94%
Max Drawdown (3Y) Largest decline over 3 years	-41.26%	-13.45%	-27.81%
Max Drawdown (5Y) Largest decline over 5 years	-41.26%	-29.71%	-11.55%
Max Drawdown (10Y) Largest decline over 10 years	-45.45%	-35.73%	-9.72%
Current Drawdown Current decline from peak	-1.92%	-3.26%	+1.34%
Average Drawdown Average peak-to-trough decline	-18.69%	-13.22%	-5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	3.07%	+2.63%

Volatility

FMX vs. VEA - Volatility Comparison

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has a higher volatility of 7.78% compared to Vanguard FTSE Developed Markets ETF (VEA) at 5.28%. This indicates that FMX's price experiences larger fluctuations and is considered to be riskier than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	5.28%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	17.03%	15.12%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	25.41%	17.03%	+8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.45%	16.80%	+8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	17.17%	+9.68%

Dividends

FMX vs. VEA - Dividend Comparison

FMX's dividend yield for the trailing twelve months is around 8.01%, more than VEA's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMX Fomento Económico Mexicano, S.A.B. de C.V.	8.01%	8.42%	3.64%	1.60%	2.17%	1.47%	1.88%	1.62%	1.73%	1.43%	1.77%	1.49%
VEA Vanguard FTSE Developed Markets ETF	2.59%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both FMX and VEA in my portfolio?

FMX and VEA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMX or VEA?

FMX has higher volatility (7.78%) compared to VEA (5.28%). In terms of maximum drawdown, FMX dropped -61.02% vs VEA's -60.68%.

Which has better risk-adjusted returns?

FMX currently has the higher Sharpe Ratio (1.75 vs 1.61), 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.