VEMAX vs. BRK-B

Last updated Jun 13, 2026

VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) is Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, VEMAX returned 8.79%/yr vs 13.22%/yr for BRK-B. At a 0.44 correlation, their price movements are largely independent.

Performance

VEMAX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEMAX achieves a 9.86% return, which is significantly higher than BRK-B's -2.67% return. Over the past 10 years, VEMAX has underperformed BRK-B with an annualized return of 8.79%, while BRK-B has yielded a comparatively higher 13.22% annualized return.

VEMAX

• 1D: 2.25%
• 1M: -1.61%
• YTD: 9.86%
• 6M: 11.36%
• 1Y: 25.51%
• 3Y*: 16.48%
• 5Y*: 4.76%
• 10Y*: 8.79%

BRK-B

• 1D: 0.71%
• 1M: 1.07%
• YTD: -2.67%
• 6M: -2.06%
• 1Y: 0.35%
• 3Y*: 13.30%
• 5Y*: 11.27%
• 10Y*: 13.22%

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

VEMAX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	9.86%	24.76%	11.34%	8.82%	-17.79%	0.85%	15.24%	20.29%	-14.59%	31.37%
BRK-B Berkshire Hathaway Inc.	-2.67%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between VEMAX and BRK-B is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 23, 2006	0.44

The correlation between VEMAX and BRK-B shifts across timeframes, from -0.06 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VEMAX vs. BRK-B — Risk / Return Rank

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

VEMAX

VEMAX Risk / Return Rank: 47
VEMAX Sharpe Ratio Rank: 47
VEMAX Sortino Ratio Rank: 46
VEMAX Omega Ratio Rank: 48
VEMAX Calmar Ratio Rank: 47
VEMAX Martin Ratio Rank: 45

BRK-B

BRK-B Risk / Return Rank: 39
BRK-B Sharpe Ratio Rank: 42
BRK-B Sortino Ratio Rank: 34
BRK-B Omega Ratio Rank: 33
BRK-B Calmar Ratio Rank: 42
BRK-B Martin Ratio Rank: 42

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.

VEMAX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) and Berkshire Hathaway Inc. (BRK-B). 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.

	VEMAX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.59	-0.02	+1.60
Sortino ratio: Return per unit of downside risk	2.22	0.08	+2.15
Omega ratio: Gain probability vs. loss probability	1.29	1.01	+0.28
Calmar ratio: Return relative to maximum drawdown	2.15	-0.02	+2.17
Martin ratio: Return relative to average drawdown	7.83	-0.05	+7.88

VEMAX vs. BRK-B - Sharpe Ratio Comparison

The current VEMAX Sharpe Ratio is 1.59, which is higher than the BRK-B Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of VEMAX and BRK-B, 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

VEMAX vs. BRK-B - Drawdown Comparison

The maximum VEMAX drawdown since its inception was -66.45%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for VEMAX and BRK-B.

Drawdown Indicators

	VEMAX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-66.45%	-53.86%	-12.59%
Max Drawdown (1Y) Largest decline over 1 year	-11.05%	-9.42%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-15.78%	-14.95%	-0.83%
Max Drawdown (5Y) Largest decline over 5 years	-32.46%	-26.58%	-5.88%
Max Drawdown (10Y) Largest decline over 10 years	-36.11%	-29.57%	-6.54%
Current Drawdown Current decline from peak	-3.60%	-9.36%	+5.76%
Average Drawdown Average peak-to-trough decline	-16.10%	-11.07%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	4.53%	-1.50%

Volatility

VEMAX vs. BRK-B - Volatility Comparison

Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) has a higher volatility of 6.17% compared to Berkshire Hathaway Inc. (BRK-B) at 3.95%. This indicates that VEMAX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEMAX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	3.95%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	10.78%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.97%	14.38%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	17.12%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	19.44%	-2.95%

Dividends

VEMAX vs. BRK-B - Dividend Comparison

VEMAX's dividend yield for the trailing twelve months is around 2.42%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares	2.42%	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 VEMAX and BRK-B in my portfolio?

VEMAX and BRK-B have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEMAX or BRK-B?

VEMAX has higher volatility (6.17%) compared to BRK-B (3.95%). In terms of maximum drawdown, VEMAX dropped -66.45% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

VEMAX currently has the higher Sharpe Ratio (1.59 vs -0.02), 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.