PRIJX vs. VEMAX
PRIJX (T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both Emerging Markets Equities funds. Over the past 10 years, PRIJX returned 12.27%/yr vs 9.04%/yr for VEMAX. Their correlation of 0.93 suggests significant overlap in exposure. PRIJX charges 1.13%/yr vs 0.14%/yr for VEMAX.
Performance
PRIJX vs. VEMAX - Performance Comparison
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Returns By Period
In the year-to-date period, PRIJX achieves a 31.09% return, which is significantly higher than VEMAX's 13.97% return. Over the past 10 years, PRIJX has outperformed VEMAX with an annualized return of 12.27%, while VEMAX has yielded a comparatively lower 9.04% annualized return.
PRIJX
- 1D
- 1.24%
- 1M
- 11.63%
- YTD
- 31.09%
- 6M
- 34.99%
- 1Y
- 65.35%
- 3Y*
- 26.93%
- 5Y*
- 10.77%
- 10Y*
- 12.27%
VEMAX
- 1D
- 1.58%
- 1M
- 4.22%
- YTD
- 13.97%
- 6M
- 15.57%
- 1Y
- 32.68%
- 3Y*
- 18.62%
- 5Y*
- 5.62%
- 10Y*
- 9.04%
PRIJX vs. VEMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRIJX T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class | 31.09% | 38.56% | 5.75% | 11.13% | -15.64% | 4.50% | 6.87% | 16.63% | -9.91% | 32.57% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 13.97% | 24.76% | 11.34% | 8.82% | -17.79% | 0.85% | 15.24% | 20.29% | -14.59% | 31.37% |
Correlation
The correlation between PRIJX and VEMAX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.93 |
The correlation between PRIJX and VEMAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
PRIJX vs. VEMAX — Risk / Return Rank
PRIJX
VEMAX
PRIJX vs. VEMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) 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.
| PRIJX | VEMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.42 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.96 | 3.00 | +1.97 |
| Martin ratioReturn relative to average drawdown | 19.62 | 11.18 | +8.45 |
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
| PRIJX | VEMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.64 | 2.31 | +1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.37 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.55 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.30 | +0.39 |
Drawdowns
PRIJX vs. VEMAX - Drawdown Comparison
The maximum PRIJX drawdown since its inception was -41.67%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for PRIJX and VEMAX.
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Drawdown Indicators
| PRIJX | VEMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -66.45% | +24.78% |
Max Drawdown (1Y)Largest decline over 1 year | -13.26% | -11.05% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -16.15% | -15.78% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -32.32% | -32.55% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -41.67% | -36.11% | -5.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.92% | -16.12% | +6.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 2.96% | +0.39% |
Volatility
PRIJX vs. VEMAX - Volatility Comparison
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) has a higher volatility of 8.33% compared to Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) at 5.01%. This indicates that PRIJX'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
| PRIJX | VEMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.33% | 5.01% | +3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.50% | 11.80% | +3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.09% | 14.31% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 15.38% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.70% | 16.46% | +1.24% |
PRIJX vs. VEMAX - Expense Ratio Comparison
PRIJX has a 1.13% expense ratio, which is higher than VEMAX's 0.14% expense ratio.
Dividends
PRIJX vs. VEMAX - Dividend Comparison
PRIJX's dividend yield for the trailing twelve months is around 3.44%, more than VEMAX's 2.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRIJX T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class | 3.44% | 4.51% | 3.15% | 2.99% | 1.93% | 2.29% | 0.76% | 2.55% | 1.66% | 3.67% | 4.69% | 0.00% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 2.34% | 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
With a correlation of 0.92, PRIJX 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.
PRIJX has higher volatility (8.33%) compared to VEMAX (5.01%). In terms of maximum drawdown, PRIJX dropped -41.67% vs VEMAX's -66.45%.
PRIJX currently has the higher Sharpe Ratio (3.64 vs 2.31), 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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