SAR vs. VEMY
SAR (Saratoga Investment Corp.) is a stock, while VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) is Emerging Markets Bonds fund actively managed by Virtus. Over the past 3 years, SAR returned 3.61%/yr vs 14.37%/yr for VEMY. At a 0.26 correlation, their price movements are largely independent.
Performance
SAR vs. VEMY - Performance Comparison
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Returns By Period
In the year-to-date period, SAR achieves a -7.77% return, which is significantly lower than VEMY's 6.55% return.
SAR
- 1D
- 0.79%
- 1M
- -13.47%
- 6M
- -8.51%
- YTD
- -7.77%
- 1Y
- -8.53%
- 3Y*
- 3.61%
- 5Y*
- 5.02%
- 10Y*
- 12.26%
VEMY
- 1D
- 0.14%
- 1M
- 0.11%
- 6M
- 5.47%
- YTD
- 6.55%
- 1Y
- 15.84%
- 3Y*
- 14.37%
- 5Y*
- —
- 10Y*
- —
SAR vs. VEMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SAR Saratoga Investment Corp. | -7.77% | 10.36% | 6.07% | 12.91% | -3.20% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 6.55% | 15.27% | 13.48% | 14.45% | -1.43% |
Correlation
The correlation between SAR and VEMY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.26 |
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Return for Risk
SAR vs. VEMY — Risk / Return Rank
SAR
VEMY
SAR vs. VEMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Investment Corp. (SAR) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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.
| SAR | VEMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.54 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 3.97 | -4.35 |
| Martin ratioReturn relative to average drawdown | -1.42 | 18.77 | -20.20 |
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Drawdowns
SAR vs. VEMY - Drawdown Comparison
The maximum SAR drawdown since its inception was -90.67%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for SAR and VEMY.
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Drawdown Indicators
| SAR | VEMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.67% | -8.77% | -81.90% |
Max Drawdown (1Y)Largest decline over 1 year | -22.46% | -4.00% | -18.46% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -6.57% | -15.89% |
Max Drawdown (5Y)Largest decline over 5 years | -26.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.89% | — | — |
Current DrawdownCurrent decline from peak | -14.69% | -0.22% | -14.47% |
Average DrawdownAverage peak-to-trough decline | -17.54% | -1.28% | -16.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.99% | 0.85% | +5.14% |
Volatility
SAR vs. VEMY - Volatility Comparison
Saratoga Investment Corp. (SAR) has a higher volatility of 17.67% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.04%. This indicates that SAR's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAR | VEMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.67% | 1.04% | +16.63% |
Volatility (6M)Calculated over the trailing 6-month period | 22.74% | 4.61% | +18.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.31% | 6.03% | +19.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 7.56% | +16.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.03% | 7.56% | +30.47% |
Dividends
SAR vs. VEMY - Dividend Comparison
SAR's dividend yield for the trailing twelve months is around 19.97%, more than VEMY's 8.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SAR Saratoga Investment Corp. | 19.97% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.19% | 8.89% | 10.28% | 9.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SAR and VEMY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAR has higher volatility (17.67%) compared to VEMY (1.04%). In terms of maximum drawdown, SAR dropped -90.67% vs VEMY's -8.77%.
VEMY currently has the higher Sharpe Ratio (2.66 vs -0.34), 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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