MGEMX vs. VEMIX
MGEMX (Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio) and VEMIX (Vanguard Emerging Markets Stock Index Fund Institutional Shares) are both Emerging Markets Equities funds. Over the past 10 years, MGEMX returned 2.50%/yr vs 7.82%/yr for VEMIX. Their correlation of 0.94 means they have usually moved in the same direction. MGEMX charges 1.05%/yr vs 0.06%/yr for VEMIX.
Performance
MGEMX vs. VEMIX - Performance Comparison
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Returns By Period
In the year-to-date period, MGEMX achieves a 23.22% return, which is significantly higher than VEMIX's 9.18% return. Over the past 10 years, MGEMX has underperformed VEMIX with an annualized return of 2.50%, while VEMIX has yielded a comparatively higher 7.82% annualized return.
MGEMX
- 1D
- 2.19%
- 1M
- -2.81%
- 6M
- 13.22%
- YTD
- 23.22%
- 1Y
- -28.33%
- 3Y*
- -3.74%
- 5Y*
- -5.97%
- 10Y*
- 2.50%
- ALL TIME*
- 6.67%
VEMIX
- 1D
- 1.26%
- 1M
- -0.48%
- 6M
- 3.65%
- YTD
- 9.18%
- 1Y
- 21.49%
- 3Y*
- 14.60%
- 5Y*
- 6.08%
- 10Y*
- 7.82%
- ALL TIME*
- 7.29%
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 |
MGEMX vs. VEMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 23.22% | -34.08% | 8.07% | 12.16% | -25.07% | 3.53% | 14.59% | 37.21% | -17.34% | 34.98% |
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | 9.18% | 24.80% | 11.38% | 8.85% | -17.75% | 0.91% | 15.26% | 20.35% | -14.55% | 31.42% |
Correlation
The correlation between MGEMX and VEMIX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2000 | 0.94 |
The correlation between MGEMX and VEMIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
MGEMX vs. VEMIX — Risk / Return Rank
MGEMX
VEMIX
MGEMX vs. VEMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) and Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX). 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.
| MGEMX | VEMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.23 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.87 | -2.42 |
| Martin ratioReturn relative to average drawdown | -0.88 | 6.20 | -7.08 |
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Drawdowns
MGEMX vs. VEMIX - Drawdown Comparison
The maximum MGEMX drawdown since its inception was -64.93%, roughly equal to the maximum VEMIX drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for MGEMX and VEMIX.
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Drawdown Indicators
| MGEMX | VEMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -66.43% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -11.05% | -41.45% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -15.77% | -36.73% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -30.68% | -21.82% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -36.04% | -16.46% |
Current DrawdownCurrent decline from peak | -38.67% | -4.23% | -34.44% |
Average DrawdownAverage peak-to-trough decline | -19.90% | -15.91% | -3.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.27% | 3.32% | +29.95% |
Volatility
MGEMX vs. VEMIX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has a higher volatility of 11.16% compared to Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX) at 5.34%. This indicates that MGEMX's price experiences larger fluctuations and is considered to be riskier than VEMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEMX | VEMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 5.34% | +5.82% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 13.86% | +9.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.30% | 16.03% | +41.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.83% | 15.59% | +14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.17% | 16.50% | +8.67% |
MGEMX vs. VEMIX - Expense Ratio Comparison
MGEMX has a 1.05% expense ratio, which is higher than VEMIX's 0.06% expense ratio.
Dividends
MGEMX vs. VEMIX - Dividend Comparison
MGEMX has not paid dividends to shareholders, while VEMIX's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 0.00% | 0.00% | 1.27% | 2.48% | 4.48% | 9.05% | 1.07% | 26.00% | 2.46% | 0.60% | 0.82% | 0.87% |
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | 2.35% | 2.77% | 3.17% | 3.51% | 4.09% | 2.61% | 1.90% | 3.23% | 2.89% | 2.33% | 2.55% | 2.51% |
Frequently Asked Questions
With a correlation of 0.92, MGEMX and VEMIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MGEMX has higher volatility (11.16%) compared to VEMIX (5.34%). In terms of maximum drawdown, MGEMX dropped -64.93% vs VEMIX's -66.43%.
VEMIX currently has the higher Sharpe Ratio (1.29 vs -0.51), 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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