VEA vs. MEMX
VEA (Vanguard FTSE Developed Markets ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. VEA is passively managed, while MEMX is actively managed. Over the past 3 years, VEA returned 19.14%/yr vs 25.86%/yr for MEMX. Their correlation of 0.81 suggests significant overlap in exposure. VEA charges 0.03%/yr vs 0.79%/yr for MEMX.
Performance
VEA vs. MEMX - Performance Comparison
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Returns By Period
In the year-to-date period, VEA achieves a 16.08% return, which is significantly lower than MEMX's 34.10% return.
VEA
- 1D
- 1.17%
- 1M
- 4.79%
- YTD
- 16.08%
- 6M
- 17.35%
- 1Y
- 32.96%
- 3Y*
- 19.14%
- 5Y*
- 9.87%
- 10Y*
- 10.67%
MEMX
- 1D
- 3.31%
- 1M
- 8.49%
- YTD
- 34.10%
- 6M
- 43.05%
- 1Y
- 68.84%
- 3Y*
- 25.86%
- 5Y*
- —
- 10Y*
- —
VEA vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VEA Vanguard FTSE Developed Markets ETF | 16.08% | 35.16% | 3.15% | 12.95% |
MEMX Matthews Emerging Markets Ex China Active ETF | 34.10% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between VEA and MEMX is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.81 |
The correlation between VEA and MEMX has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.
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Return for Risk
VEA vs. MEMX — Risk / Return Rank
VEA
MEMX
VEA vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Markets ETF (VEA) and Matthews Emerging Markets Ex China Active ETF (MEMX). 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.
| VEA | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.53 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 4.71 | -1.86 |
| Martin ratioReturn relative to average drawdown | 10.96 | 18.06 | -7.10 |
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Drawdowns
VEA vs. MEMX - Drawdown Comparison
The maximum VEA drawdown since its inception was -60.68%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for VEA and MEMX.
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Drawdown Indicators
| VEA | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.68% | -19.27% | -41.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -14.70% | +3.07% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -19.27% | +5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.73% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.20% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -13.27% | -3.50% | -9.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.82% | -0.81% |
Volatility
VEA vs. MEMX - Volatility Comparison
The current volatility for Vanguard FTSE Developed Markets ETF (VEA) is 6.92%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 12.30%. This indicates that VEA experiences smaller price fluctuations and is considered to be less risky than MEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEA | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 12.30% | -5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 21.45% | -7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.58% | 23.60% | -7.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.73% | 17.81% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.41% | 17.81% | -0.40% |
VEA vs. MEMX - Expense Ratio Comparison
VEA has a 0.03% expense ratio, which is lower than MEMX's 0.79% expense ratio.
Dividends
VEA vs. MEMX - Dividend Comparison
VEA's dividend yield for the trailing twelve months is around 2.59%, less than MEMX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEMX Matthews Emerging Markets Ex China Active ETF | 3.64% | 4.88% | 0.99% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEA Vanguard FTSE Developed Markets ETF | 2.59% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Frequently Asked Questions
VEA and MEMX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEMX has higher volatility (12.30%) compared to VEA (6.92%). In terms of maximum drawdown, VEA dropped -60.68% vs MEMX's -19.27%.
On 3-year performance, MEMX leads with 25.86% vs 19.14% for VEA. On fees, VEA is cheaper at 0.03% per year. On volatility, VEA has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MEMX has performed better with a 25.86% return vs 19.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEA is cheaper with a 0.03% expense ratio, compared with 0.79% for MEMX.
MEMX has the higher dividend yield at 3.64%, compared with 2.59% for VEA.
VEA is categorized as Foreign Large Cap Equities, while MEMX is Emerging Markets Diversified. They also come from different issuers: Vanguard and Matthews. Their fees differ too: 0.03% for VEA and 0.79% for MEMX.
MEMX currently has the higher Sharpe Ratio (2.94 vs 2.00), 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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