MXEOX vs. VEMAX

Last updated Jun 24, 2026

MXEOX (Great-West Emerging Markets Equity Fund) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both mutual funds - MXEOX is a Emerging Markets Diversified fund managed by Great-West, while VEMAX is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index. Over the past 5 years, MXEOX returned 8.61%/yr vs 5.80%/yr for VEMAX. Their correlation of 0.93 suggests significant overlap in exposure. MXEOX charges 1.23%/yr vs 0.13%/yr for VEMAX.

Performance

MXEOX vs. VEMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Emerging Markets Equity Fund (MXEOX) 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, MXEOX achieves a 33.84% return, which is significantly higher than VEMAX's 13.77% return.

MXEOX

• 1D: 0.57%
• 1M: 8.07%
• YTD: 33.84%
• 6M: 34.90%
• 1Y: 59.88%
• 3Y*: 26.79%
• 5Y*: 8.61%
• 10Y*: —

VEMAX

• 1D: 0.56%
• 1M: 3.79%
• YTD: 13.77%
• 6M: 13.97%
• 1Y: 31.15%
• 3Y*: 18.36%
• 5Y*: 5.80%
• 10Y*: 9.14%

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

MXEOX vs. VEMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MXEOX Great-West Emerging Markets Equity Fund	33.84%	32.78%	9.84%	9.67%	-22.34%	-3.49%	18.39%	21.67%	-21.34%
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	13.77%	24.76%	11.34%	8.82%	-17.79%	0.85%	15.24%	20.29%	-16.77%

Correlation

The correlation between MXEOX and VEMAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2018	0.93

The correlation between MXEOX and VEMAX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

MXEOX vs. VEMAX — Risk / Return Rank

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

MXEOX

MXEOX Risk / Return Rank: 89
MXEOX Sharpe Ratio Rank: 94
MXEOX Sortino Ratio Rank: 82
MXEOX Omega Ratio Rank: 87
MXEOX Calmar Ratio Rank: 91
MXEOX Martin Ratio Rank: 90

VEMAX

VEMAX Risk / Return Rank: 58
VEMAX Sharpe Ratio Rank: 60
VEMAX Sortino Ratio Rank: 56
VEMAX Omega Ratio Rank: 59
VEMAX Calmar Ratio Rank: 62
VEMAX Martin Ratio Rank: 55

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.

MXEOX vs. VEMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Emerging Markets Equity Fund (MXEOX) 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.

	MXEOX	VEMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.11	+0.86
Sortino ratio: Return per unit of downside risk	3.58	2.88	+0.70
Omega ratio: Gain probability vs. loss probability	1.56	1.39	+0.17
Calmar ratio: Return relative to maximum drawdown	4.45	2.88	+1.57
Martin ratio: Return relative to average drawdown	16.75	10.49	+6.26

MXEOX vs. VEMAX - Sharpe Ratio Comparison

The current MXEOX Sharpe Ratio is 2.97, which is higher than the VEMAX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of MXEOX 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

MXEOX vs. VEMAX - Drawdown Comparison

The maximum MXEOX drawdown since its inception was -41.05%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for MXEOX and VEMAX.

Drawdown Indicators

	MXEOX	VEMAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.05%	-66.45%	+25.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.95%	-11.05%	-2.90%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-15.78%	-1.47%
Max Drawdown (5Y) Largest decline over 5 years	-38.36%	-32.46%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.11%	—
Current Drawdown Current decline from peak	0.00%	-0.17%	+0.17%
Average Drawdown Average peak-to-trough decline	-17.09%	-16.08%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	3.03%	+0.62%

Volatility

MXEOX vs. VEMAX - Volatility Comparison

Great-West Emerging Markets Equity Fund (MXEOX) has a higher volatility of 10.92% compared to Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) at 6.06%. This indicates that MXEOX'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

	MXEOX	VEMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.92%	6.06%	+4.86%
Volatility (6M) Calculated over the trailing 6-month period	18.58%	12.85%	+5.73%
Volatility (1Y) Calculated over the trailing 1-year period	20.93%	15.10%	+5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	15.53%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	16.50%	+2.85%

MXEOX vs. VEMAX - Expense Ratio Comparison

MXEOX has a 1.23% expense ratio, which is higher than VEMAX's 0.13% expense ratio.

Dividends

MXEOX vs. VEMAX - Dividend Comparison

MXEOX's dividend yield for the trailing twelve months is around 0.75%, less than VEMAX's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXEOX Great-West Emerging Markets Equity Fund	0.75%	1.00%	1.36%	2.01%	1.61%	3.42%	1.85%	0.94%	1.00%	0.00%	0.00%	0.00%
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	2.23%	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 MXEOX and VEMAX in my portfolio?

With a correlation of 0.90, MXEOX and VEMAX 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.

Which is riskier, MXEOX or VEMAX?

MXEOX has higher volatility (10.92%) compared to VEMAX (6.06%). In terms of maximum drawdown, MXEOX dropped -41.05% vs VEMAX's -66.45%.

Which has better risk-adjusted returns?

MXEOX currently has the higher Sharpe Ratio (2.97 vs 2.11), 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.