JOMMX vs. VEMAX

Last updated Aug 1, 2026

JOMMX (JOHCM Emerging Markets Small Mid Cap Equity Fund) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both Emerging Markets Equities funds. Over the past 10 years, JOMMX returned 7.53%/yr vs 7.77%/yr for VEMAX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. JOMMX charges 1.49%/yr vs 0.13%/yr for VEMAX.

Performance

JOMMX vs. VEMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JOHCM Emerging Markets Small Mid Cap Equity Fund (JOMMX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOMMX achieves a 7.26% return, which is significantly lower than VEMAX's 9.14% return. Both investments have delivered pretty close results over the past 10 years, with JOMMX having a 7.53% annualized return and VEMAX not far ahead at 7.77%.

JOMMX

• 1D: 1.60%
• 1M: -9.73%
• 6M: -1.04%
• YTD: 7.26%
• 1Y: 14.47%
• 3Y*: 11.94%
• 5Y*: 4.36%
• 10Y*: 7.53%
• ALL TIME*: 7.65%

VEMAX

• 1D: 1.27%
• 1M: -0.49%
• 6M: 3.64%
• YTD: 9.14%
• 1Y: 21.44%
• 3Y*: 14.55%
• 5Y*: 6.03%
• 10Y*: 7.77%
• ALL TIME*: 6.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JOMMX JOHCM Emerging Markets Small Mid Cap Equity Fund	$0.00	$0.00	$0.00
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	$0.00	$0.00	$0.00

JOMMX vs. VEMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JOMMX JOHCM Emerging Markets Small Mid Cap Equity Fund	7.26%	23.88%	4.29%	24.91%	-21.36%	7.22%	23.57%	18.25%	-20.02%	28.46%
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	9.14%	24.76%	11.34%	8.82%	-17.79%	0.85%	15.24%	20.29%	-14.59%	31.37%

Correlation

The correlation between JOMMX and VEMAX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Dec 18, 2014	0.77

The correlation between JOMMX and VEMAX shifts across timeframes, from 0.57 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JOMMX vs. VEMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JOMMX

JOMMX Risk / Return Rank: 19
JOMMX Sharpe Ratio Rank: 15
JOMMX Sortino Ratio Rank: 16
JOMMX Omega Ratio Rank: 24
JOMMX Calmar Ratio Rank: 22
JOMMX Martin Ratio Rank: 20

VEMAX

VEMAX Risk / Return Rank: 40
VEMAX Sharpe Ratio Rank: 40
VEMAX Sortino Ratio Rank: 38
VEMAX Omega Ratio Rank: 39
VEMAX Calmar Ratio Rank: 44
VEMAX Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JOMMX vs. VEMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JOHCM Emerging Markets Small Mid Cap Equity Fund (JOMMX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). 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.

	JOMMX	VEMAX	Difference
Sharpe ratio: Return per unit of total volatility	0.60	1.28	-0.68
Sortino ratio: Return per unit of downside risk	0.99	1.81	-0.82
Omega ratio: Gain probability vs. loss probability	1.16	1.23	-0.07
Calmar ratio: Return relative to maximum drawdown	1.08	1.86	-0.78
Martin ratio: Return relative to average drawdown	2.96	6.19	-3.23

JOMMX vs. VEMAX - Sharpe Ratio Comparison

The current JOMMX Sharpe Ratio is 0.60, which is lower than the VEMAX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of JOMMX and VEMAX, 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

JOMMX vs. VEMAX - Drawdown Comparison

The maximum JOMMX drawdown since its inception was -42.63%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for JOMMX and VEMAX.

Drawdown Indicators

	JOMMX	VEMAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.63%	-66.45%	+23.82%
Max Drawdown (1Y) Largest decline over 1 year	-14.80%	-11.05%	-3.75%
Max Drawdown (3Y) Largest decline over 3 years	-20.97%	-15.78%	-5.19%
Max Drawdown (5Y) Largest decline over 5 years	-36.52%	-30.69%	-5.83%
Max Drawdown (10Y) Largest decline over 10 years	-42.63%	-36.11%	-6.52%
Current Drawdown Current decline from peak	-13.43%	-4.23%	-9.20%
Average Drawdown Average peak-to-trough decline	-12.29%	-16.02%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	3.31%	+1.88%

Volatility

JOMMX vs. VEMAX - Volatility Comparison

JOHCM Emerging Markets Small Mid Cap Equity Fund (JOMMX) has a higher volatility of 7.27% compared to Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) at 5.33%. This indicates that JOMMX's price experiences larger fluctuations and is considered to be riskier than VEMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JOMMX	VEMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	5.33%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	13.84%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	26.44%	16.02%	+10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	15.59%	+3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.38%	16.50%	+1.88%

JOMMX vs. VEMAX - Expense Ratio Comparison

JOMMX has a 1.49% expense ratio, which is higher than VEMAX's 0.13% expense ratio.

Dividends

JOMMX vs. VEMAX - Dividend Comparison

JOMMX's dividend yield for the trailing twelve months is around 11.92%, more than VEMAX's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JOMMX JOHCM Emerging Markets Small Mid Cap Equity Fund	11.92%	12.79%	9.45%	0.94%	1.10%	20.78%	0.45%	0.68%	0.53%	1.05%	2.12%	0.00%
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	2.32%	2.74%	3.13%	3.47%	4.05%	2.57%	1.87%	3.20%	2.85%	2.31%	2.51%	3.25%

Frequently Asked Questions

Can I hold both JOMMX and VEMAX in my portfolio?

JOMMX and VEMAX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JOMMX or VEMAX?

JOMMX has higher volatility (7.27%) compared to VEMAX (5.33%). In terms of maximum drawdown, JOMMX dropped -42.63% vs VEMAX's -66.45%.

Which has better risk-adjusted returns?

VEMAX currently has the higher Sharpe Ratio (1.28 vs 0.60), 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.