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VEMAX vs. SCHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEMAX vs. SCHD

Last updated Jun 4, 2026

VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) and SCHD (Schwab U.S. Dividend Equity ETF) are both funds - VEMAX is a Emerging Markets Equities fund managed by Vanguard, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Over the past 10 years, VEMAX returned 9.04%/yr vs 12.77%/yr for SCHD. A 0.57 correlation means they provide meaningful diversification when combined. VEMAX charges 0.14%/yr vs 0.06%/yr for SCHD.

Performance

VEMAX vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEMAX achieves a 13.97% return, which is significantly lower than SCHD's 19.01% return. Over the past 10 years, VEMAX has underperformed SCHD with an annualized return of 9.04%, while SCHD has yielded a comparatively higher 12.77% annualized return.

VEMAX

1D
1.58%
1M
4.22%
YTD
13.97%
6M
15.57%
1Y
32.68%
3Y*
18.62%
5Y*
5.62%
10Y*
9.04%

SCHD

1D
0.00%
1M
2.70%
YTD
19.01%
6M
18.63%
1Y
27.16%
3Y*
15.09%
5Y*
8.36%
10Y*
12.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEMAX vs. SCHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		13.97%24.76%11.34%8.82%-17.79%0.85%15.24%20.29%-14.59%31.37%
SCHD
Schwab U.S. Dividend Equity ETF		19.01%4.34%11.66%4.54%-3.26%29.87%15.03%27.29%-5.56%20.85%

Correlation

The correlation between VEMAX and SCHD 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

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

0.57

Over the past year, the correlation between VEMAX and SCHD has dropped to 0.22 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

VEMAX vs. SCHD - Sectors Allocation Comparison

Sectors
VEMAX
SCHD

Technology

29.6%
16.4%

Financial Services

19.5%
9.3%

Consumer Cyclical

10.7%
6.3%

Industrials

8.0%
7.5%

Basic Materials

8.0%
1.2%

Communication Services

7.1%
6.3%

Energy

4.6%
16.2%

Healthcare

3.9%
18.8%

Consumer Defensive

3.7%
19.2%

Utilities

2.9%
0.0%

Real Estate

2.2%

-

Technology

VEMAX
29.6%
SCHD
16.4%

Financial Services

VEMAX
19.5%
SCHD
9.3%

Consumer Cyclical

VEMAX
10.7%
SCHD
6.3%

Industrials

VEMAX
8.0%
SCHD
7.5%

Basic Materials

VEMAX
8.0%
SCHD
1.2%

Communication Services

VEMAX
7.1%
SCHD
6.3%

Energy

VEMAX
4.6%
SCHD
16.2%

Healthcare

VEMAX
3.9%
SCHD
18.8%

Consumer Defensive

VEMAX
3.7%
SCHD
19.2%

Utilities

VEMAX
2.9%
SCHD
0.0%

Real Estate

VEMAX
2.2%
SCHD

-

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Vanguard Emerging Markets Stock Index Fund Admiral Shares

Schwab U.S. Dividend Equity ETF

Often compared with VEMAX:
VEMAX vs. VWOVEMAX vs. VTMGXVEMAX vs. VFIAXVEMAX vs. FPADXVEMAX vs. FEMKXVEMAX vs. FSPSXVEMAX vs. VINEX
Often compared with SCHD:
SCHD vs. VOOSCHD vs. VYMSCHD vs. SPYSCHD vs. SCHGSCHD vs. JEPISCHD vs. FDVVSCHD vs. VIG

Return for Risk

VEMAX vs. SCHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEMAX
VEMAX Risk / Return Rank: 5959
Overall Rank
VEMAX Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
VEMAX Sortino Ratio Rank: 5757
Sortino Ratio Rank
VEMAX Omega Ratio Rank: 5858
Omega Ratio Rank
VEMAX Calmar Ratio Rank: 6161
Calmar Ratio Rank
VEMAX Martin Ratio Rank: 5656
Martin Ratio Rank
SCHD
SCHD Risk / Return Rank: 8080
Overall Rank
SCHD Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SCHD Sortino Ratio Rank: 8484
Sortino Ratio Rank
SCHD Omega Ratio Rank: 7373
Omega Ratio Rank
SCHD Calmar Ratio Rank: 9191
Calmar Ratio Rank
SCHD Martin Ratio Rank: 7575
Martin Ratio Rank
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. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). 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.

VEMAXSCHDDifference
Sharpe ratioReturn per unit of total volatility
2.31
2.49

-0.18

Sortino ratioReturn per unit of downside risk
3.18
3.87

-0.68

Omega ratioGain probability vs. loss probability

1.42

1.45

-0.02

Calmar ratioReturn relative to maximum drawdown

3.00

5.91

-2.92

Martin ratioReturn relative to average drawdown

11.18

14.53

-3.35

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEMAX vs. SCHD - Sharpe Ratio Comparison

The current VEMAX Sharpe Ratio is 2.31, which is comparable to the SCHD Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of VEMAX and SCHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VEMAXSCHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.31

2.49

-0.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

0.58

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.77

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.86

-0.57

Drawdowns

VEMAX vs. SCHD - Drawdown Comparison

The maximum VEMAX drawdown since its inception was -66.45%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for VEMAX and SCHD.

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Drawdown Indicators

VEMAXSCHDDifference

Max Drawdown

Largest peak-to-trough decline

-66.45%

-33.37%

-33.08%

Max Drawdown (1Y)

Largest decline over 1 year

-11.05%

-4.61%

-6.44%

Max Drawdown (3Y)

Largest decline over 3 years

-15.78%

-16.13%

+0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-32.55%

-16.85%

-15.70%

Max Drawdown (10Y)

Largest decline over 10 years

-36.11%

-33.37%

-2.74%

Current Drawdown

Current decline from peak

0.00%

-1.40%

+1.40%

Average Drawdown

Average peak-to-trough decline

-16.12%

-3.32%

-12.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

1.88%

+1.08%

Volatility

VEMAX vs. SCHD - Volatility Comparison

Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) has a higher volatility of 5.01% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 2.66%. This indicates that VEMAX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEMAXSCHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.01%

2.66%

+2.35%

Volatility (6M)

Calculated over the trailing 6-month period

11.80%

7.66%

+4.14%

Volatility (1Y)

Calculated over the trailing 1-year period

14.31%

10.96%

+3.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.38%

14.38%

+1.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.46%

16.72%

-0.26%

VEMAX vs. SCHD - Expense Ratio Comparison

VEMAX has a 0.14% expense ratio, which is higher than SCHD's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEMAX vs. SCHD - Dividend Comparison

VEMAX's dividend yield for the trailing twelve months is around 2.34%, less than SCHD's 3.26% yield.

PositionTTM20252024202320222021202020192018201720162015
SCHD
Schwab U.S. Dividend Equity ETF		3.26%3.82%3.64%3.49%3.39%2.78%3.16%2.98%3.06%2.63%2.89%2.97%
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		2.34%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 SCHD 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.

VEMAX has higher volatility (5.01%) compared to SCHD (2.66%). In terms of maximum drawdown, VEMAX dropped -66.45% vs SCHD's -33.37%.

SCHD currently has the higher Sharpe Ratio (2.49 vs 2.31), 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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