IEMGX vs. VTMSX
IEMGX (Voya Multi-Manager Emerging Markets Equity Fund) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both mutual funds - IEMGX is a Emerging Markets Equities fund managed by BlackRock, while VTMSX is a Small Cap Blend Equities fund managed by BlackRock. Over the past 10 years, IEMGX returned 9.90%/yr vs 10.75%/yr for VTMSX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. IEMGX charges 1.15%/yr vs 0.09%/yr for VTMSX.
Performance
IEMGX vs. VTMSX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IEMGX having a 22.74% return and VTMSX slightly lower at 21.93%. Over the past 10 years, IEMGX has underperformed VTMSX with an annualized return of 9.90%, while VTMSX has yielded a comparatively higher 10.75% annualized return.
IEMGX
- 1D
- 4.16%
- 1M
- -5.97%
- 6M
- 9.37%
- YTD
- 22.74%
- 1Y
- 50.07%
- 3Y*
- 22.24%
- 5Y*
- 8.70%
- 10Y*
- 9.90%
- ALL TIME*
- 6.71%
VTMSX
- 1D
- 0.86%
- 1M
- -0.56%
- 6M
- 15.49%
- YTD
- 21.93%
- 1Y
- 36.13%
- 3Y*
- 13.30%
- 5Y*
- 7.52%
- 10Y*
- 10.75%
- ALL TIME*
- 10.61%
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 |
IEMGX vs. VTMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMGX Voya Multi-Manager Emerging Markets Equity Fund | 22.74% | 46.12% | 0.76% | 15.09% | -24.13% | -2.91% | 16.80% | 25.23% | -19.85% | 44.53% |
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 21.93% | 5.93% | 8.61% | 15.95% | -16.16% | 27.08% | 11.05% | 23.28% | -8.62% | 13.05% |
Correlation
The correlation between IEMGX and VTMSX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2011 | 0.61 |
The correlation between IEMGX and VTMSX shifts across timeframes, from 0.48 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEMGX vs. VTMSX — Risk / Return Rank
IEMGX
VTMSX
IEMGX vs. VTMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). 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.
| IEMGX | VTMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.79 | -0.71 |
| Martin ratioReturn relative to average drawdown | 9.86 | 12.88 | -3.03 |
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Drawdowns
IEMGX vs. VTMSX - Drawdown Comparison
The maximum IEMGX drawdown since its inception was -41.87%, smaller than the maximum VTMSX drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for IEMGX and VTMSX.
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Drawdown Indicators
| IEMGX | VTMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -57.84% | +15.97% |
Max Drawdown (1Y)Largest decline over 1 year | -17.64% | -8.59% | -9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -17.64% | -27.93% | +10.29% |
Max Drawdown (5Y)Largest decline over 5 years | -37.33% | -27.93% | -9.40% |
Max Drawdown (10Y)Largest decline over 10 years | -41.87% | -43.88% | +2.01% |
Current DrawdownCurrent decline from peak | -14.21% | -1.82% | -12.39% |
Average DrawdownAverage peak-to-trough decline | -15.02% | -8.88% | -6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.53% | +2.78% |
Volatility
IEMGX vs. VTMSX - Volatility Comparison
Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) has a higher volatility of 10.84% compared to Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) at 3.47%. This indicates that IEMGX's price experiences larger fluctuations and is considered to be riskier than VTMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMGX | VTMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.84% | 3.47% | +7.37% |
Volatility (6M)Calculated over the trailing 6-month period | 24.96% | 11.67% | +13.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.72% | 17.40% | +10.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 21.32% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.98% | 23.07% | -4.09% |
IEMGX vs. VTMSX - Expense Ratio Comparison
IEMGX has a 1.15% expense ratio, which is higher than VTMSX's 0.09% expense ratio.
Dividends
IEMGX vs. VTMSX - Dividend Comparison
IEMGX's dividend yield for the trailing twelve months is around 4.89%, more than VTMSX's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMGX Voya Multi-Manager Emerging Markets Equity Fund | 4.89% | 6.01% | 4.66% | 1.99% | 4.22% | 19.49% | 3.91% | 2.69% | 1.01% | 1.39% | 1.17% | 1.53% |
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 1.19% | 1.28% | 1.44% | 1.50% | 1.51% | 1.16% | 1.09% | 1.15% | 1.26% | 1.11% | 1.01% | 1.26% |
Frequently Asked Questions
IEMGX and VTMSX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMGX has higher volatility (10.84%) compared to VTMSX (3.47%). In terms of maximum drawdown, IEMGX dropped -41.87% vs VTMSX's -57.84%.
IEMGX currently has the higher Sharpe Ratio (1.96 vs 1.87), 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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