PZIEX vs. VMMSX
Compare and contrast key facts about Pzena Emerging Markets Value Fund Institutional Class (PZIEX) and Vanguard Emerging Markets Select Stock Fund (VMMSX).
PZIEX is an actively managed fund by Pzena. It was launched on Mar 31, 2014. VMMSX is managed by Vanguard. It was launched on Jun 27, 2011.
Performance
PZIEX vs. VMMSX - Performance Comparison
Loading graphics...
PZIEX vs. VMMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.56% | 35.49% | 4.54% | 20.73% | -5.67% | 6.65% | 8.43% | 13.57% | -10.23% | 29.98% |
VMMSX Vanguard Emerging Markets Select Stock Fund | 0.57% | 35.68% | 5.91% | 10.58% | -18.15% | -1.40% | 15.79% | 21.42% | -12.53% | 32.01% |
Returns By Period
In the year-to-date period, PZIEX achieves a 4.56% return, which is significantly higher than VMMSX's 0.57% return. Over the past 10 years, PZIEX has outperformed VMMSX with an annualized return of 11.43%, while VMMSX has yielded a comparatively lower 8.74% annualized return.
PZIEX
- 1D
- -1.41%
- 1M
- -11.82%
- YTD
- 4.56%
- 6M
- 10.95%
- 1Y
- 33.26%
- 3Y*
- 18.81%
- 5Y*
- 10.19%
- 10Y*
- 11.43%
VMMSX
- 1D
- -1.12%
- 1M
- -12.19%
- YTD
- 0.57%
- 6M
- 5.25%
- 1Y
- 29.49%
- 3Y*
- 14.96%
- 5Y*
- 4.13%
- 10Y*
- 8.74%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PZIEX vs. VMMSX - Expense Ratio Comparison
PZIEX has a 1.08% expense ratio, which is higher than VMMSX's 0.84% expense ratio.
Return for Risk
PZIEX vs. VMMSX — Risk / Return Rank
PZIEX
VMMSX
PZIEX vs. VMMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena Emerging Markets Value Fund Institutional Class (PZIEX) and Vanguard Emerging Markets Select Stock Fund (VMMSX). 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.
| PZIEX | VMMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 1.64 | +0.43 |
Sortino ratioReturn per unit of downside risk | 2.52 | 2.16 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.32 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.40 | 1.97 | +0.43 |
Martin ratioReturn relative to average drawdown | 9.28 | 7.99 | +1.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PZIEX | VMMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.64 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.24 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.48 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.26 | +0.31 |
Correlation
The correlation between PZIEX and VMMSX is 0.76, 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
PZIEX vs. VMMSX - Dividend Comparison
PZIEX's dividend yield for the trailing twelve months is around 4.60%, more than VMMSX's 2.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.60% | 4.81% | 7.38% | 5.79% | 2.08% | 2.79% | 1.28% | 6.32% | 1.28% | 1.41% | 0.98% | 2.23% |
VMMSX Vanguard Emerging Markets Select Stock Fund | 2.30% | 2.32% | 3.33% | 3.05% | 3.71% | 6.80% | 1.04% | 2.04% | 2.53% | 1.54% | 1.44% | 1.87% |
Drawdowns
PZIEX vs. VMMSX - Drawdown Comparison
The maximum PZIEX drawdown since its inception was -44.59%, which is greater than VMMSX's maximum drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for PZIEX and VMMSX.
Loading graphics...
Drawdown Indicators
| PZIEX | VMMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -39.28% | -5.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.73% | -13.46% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -37.39% | +12.01% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -38.82% | -5.77% |
Current DrawdownCurrent decline from peak | -12.73% | -13.46% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -13.53% | +3.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 3.32% | -0.03% |
Volatility
PZIEX vs. VMMSX - Volatility Comparison
The current volatility for Pzena Emerging Markets Value Fund Institutional Class (PZIEX) is 7.69%, while Vanguard Emerging Markets Select Stock Fund (VMMSX) has a volatility of 8.14%. This indicates that PZIEX experiences smaller price fluctuations and is considered to be less risky than VMMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PZIEX | VMMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 8.14% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.62% | 12.78% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.48% | 17.75% | -2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.51% | 17.52% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.31% | 18.27% | -2.96% |