MSMLX vs. VEMAX
Compare and contrast key facts about Matthews Emerging Markets Small Companies Fund (MSMLX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX).
MSMLX is managed by Matthews. It was launched on Sep 14, 2008. VEMAX is managed by Vanguard. It was launched on Jun 23, 2006.
Performance
MSMLX vs. VEMAX - Performance Comparison
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MSMLX vs. VEMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSMLX Matthews Emerging Markets Small Companies Fund | -0.43% | 13.50% | -6.10% | 20.04% | -16.78% | 26.40% | 43.69% | 17.38% | -17.80% | 30.43% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | -2.51% | 24.76% | 11.34% | 8.82% | -17.79% | 0.85% | 15.24% | 20.29% | -14.59% | 31.37% |
Returns By Period
In the year-to-date period, MSMLX achieves a -0.43% return, which is significantly higher than VEMAX's -2.51% return. Over the past 10 years, MSMLX has outperformed VEMAX with an annualized return of 9.25%, while VEMAX has yielded a comparatively lower 7.28% annualized return.
MSMLX
- 1D
- -1.87%
- 1M
- -12.08%
- YTD
- -0.43%
- 6M
- -1.97%
- 1Y
- 15.42%
- 3Y*
- 6.49%
- 5Y*
- 5.95%
- 10Y*
- 9.25%
VEMAX
- 1D
- -0.82%
- 1M
- -9.73%
- YTD
- -2.51%
- 6M
- -1.16%
- 1Y
- 19.13%
- 3Y*
- 12.46%
- 5Y*
- 3.36%
- 10Y*
- 7.28%
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MSMLX vs. VEMAX - Expense Ratio Comparison
MSMLX has a 1.37% expense ratio, which is higher than VEMAX's 0.14% expense ratio.
Return for Risk
MSMLX vs. VEMAX — Risk / Return Rank
MSMLX
VEMAX
MSMLX vs. VEMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Small Companies Fund (MSMLX) 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.
| MSMLX | VEMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 1.23 | -0.40 |
Sortino ratioReturn per unit of downside risk | 1.20 | 1.70 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.53 | -0.66 |
Martin ratioReturn relative to average drawdown | 2.85 | 5.69 | -2.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSMLX | VEMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 1.23 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.22 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.45 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.26 | +0.32 |
Correlation
The correlation between MSMLX and VEMAX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MSMLX vs. VEMAX - Dividend Comparison
MSMLX's dividend yield for the trailing twelve months is around 1.50%, less than VEMAX's 2.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSMLX Matthews Emerging Markets Small Companies Fund | 1.50% | 1.50% | 3.95% | 8.36% | 8.04% | 9.18% | 0.28% | 0.51% | 21.31% | 8.12% | 0.43% | 0.13% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 2.73% | 2.74% | 3.13% | 3.47% | 4.05% | 2.57% | 1.87% | 3.20% | 2.85% | 2.31% | 2.51% | 3.25% |
Drawdowns
MSMLX vs. VEMAX - Drawdown Comparison
The maximum MSMLX drawdown since its inception was -36.40%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for MSMLX and VEMAX.
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Drawdown Indicators
| MSMLX | VEMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.40% | -66.45% | +30.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.89% | -11.08% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -28.00% | -32.60% | +4.60% |
Max Drawdown (10Y)Largest decline over 10 years | -34.33% | -36.11% | +1.78% |
Current DrawdownCurrent decline from peak | -12.89% | -11.05% | -1.84% |
Average DrawdownAverage peak-to-trough decline | -9.30% | -16.25% | +6.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 2.99% | +0.94% |
Volatility
MSMLX vs. VEMAX - Volatility Comparison
Matthews Emerging Markets Small Companies Fund (MSMLX) has a higher volatility of 8.16% compared to Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) at 6.36%. This indicates that MSMLX'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.
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Volatility by Period
| MSMLX | VEMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.16% | 6.36% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 10.70% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 15.26% | +2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 15.18% | +2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.83% | 16.37% | +0.46% |