VEMAX vs. FIQGX
VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) and FIQGX (Fidelity Advisor Emerging Markets Discovery Fund Class Z) are both Emerging Markets Equities funds. Over the past 5 years, VEMAX returned 5.48%/yr vs 8.63%/yr for FIQGX. Their correlation of 0.89 suggests significant overlap in exposure. VEMAX charges 0.13%/yr vs 1.05%/yr for FIQGX.
Performance
VEMAX vs. FIQGX - Performance Comparison
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Returns By Period
In the year-to-date period, VEMAX achieves a 10.42% return, which is significantly lower than FIQGX's 18.20% return.
VEMAX
- 1D
- 0.53%
- 1M
- -1.10%
- 6M
- 5.57%
- YTD
- 10.42%
- 1Y
- 21.33%
- 3Y*
- 15.58%
- 5Y*
- 5.48%
- 10Y*
- 7.94%
FIQGX
- 1D
- 0.89%
- 1M
- -1.65%
- 6M
- 13.63%
- YTD
- 18.20%
- 1Y
- 30.83%
- 3Y*
- 16.20%
- 5Y*
- 8.63%
- 10Y*
- —
VEMAX vs. FIQGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 10.42% | 24.76% | 11.34% | 8.82% | -17.79% | 0.85% | 15.24% | 20.29% | -1.69% |
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z | 18.20% | 31.96% | -3.54% | 20.94% | -11.74% | 6.86% | 17.11% | 19.81% | -1.18% |
Correlation
The correlation between VEMAX and FIQGX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.89 |
The correlation between VEMAX and FIQGX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
VEMAX vs. FIQGX — Risk / Return Rank
VEMAX
FIQGX
VEMAX vs. FIQGX - 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 Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX). 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 | FIQGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 3.24 | -1.28 |
| Martin ratioReturn relative to average drawdown | 6.86 | 11.48 | -4.62 |
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Drawdowns
VEMAX vs. FIQGX - Drawdown Comparison
The maximum VEMAX drawdown since its inception was -66.45%, which is greater than FIQGX's maximum drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for VEMAX and FIQGX.
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Drawdown Indicators
| VEMAX | FIQGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.45% | -38.41% | -28.04% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -9.55% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -15.78% | -17.26% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.69% | -27.36% | -3.33% |
Max Drawdown (10Y)Largest decline over 10 years | -36.11% | — | — |
Current DrawdownCurrent decline from peak | -3.11% | -3.45% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -16.04% | -6.84% | -9.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 2.69% | +0.45% |
Volatility
VEMAX vs. FIQGX - Volatility Comparison
Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX) have volatilities of 5.67% and 5.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMAX | FIQGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | 5.77% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 12.66% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.60% | 14.68% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 14.40% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.46% | 16.83% | -0.37% |
VEMAX vs. FIQGX - Expense Ratio Comparison
VEMAX has a 0.13% expense ratio, which is lower than FIQGX's 1.05% expense ratio.
Dividends
VEMAX vs. FIQGX - Dividend Comparison
VEMAX's dividend yield for the trailing twelve months is around 2.29%, less than FIQGX's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z | 4.12% | 4.87% | 4.07% | 2.20% | 1.86% | 12.04% | 0.71% | 1.22% | 2.16% | 0.00% | 0.00% | 0.00% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 2.29% | 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
VEMAX and FIQGX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIQGX has higher volatility (5.77%) compared to VEMAX (5.67%). In terms of maximum drawdown, VEMAX dropped -66.45% vs FIQGX's -38.41%.
FIQGX currently has the higher Sharpe Ratio (2.11 vs 1.39), 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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