VEMAX vs. VO
Compare and contrast key facts about Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) and Vanguard Mid-Cap ETF (VO).
VEMAX is managed by Vanguard. It was launched on Jun 23, 2006. VO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Index. It was launched on Jan 26, 2004.
Performance
VEMAX vs. VO - Performance Comparison
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VEMAX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | -2.51% | 24.76% | 11.34% | 8.82% | -17.79% | 0.85% | 15.24% | 20.29% | -14.59% | 31.37% |
VO Vanguard Mid-Cap ETF | -0.68% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Returns By Period
In the year-to-date period, VEMAX achieves a -2.51% return, which is significantly lower than VO's -0.68% return. Over the past 10 years, VEMAX has underperformed VO with an annualized return of 7.28%, while VO has yielded a comparatively higher 10.67% annualized return.
VEMAX
- 1D
- -0.82%
- 1M
- -9.73%
- YTD
- -2.51%
- 6M
- -1.16%
- 1Y
- 19.13%
- 3Y*
- 12.46%
- 5Y*
- 3.36%
- 10Y*
- 7.28%
VO
- 1D
- 2.22%
- 1M
- -5.86%
- YTD
- -0.68%
- 6M
- -1.48%
- 1Y
- 12.73%
- 3Y*
- 12.61%
- 5Y*
- 6.66%
- 10Y*
- 10.67%
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VEMAX vs. VO - Expense Ratio Comparison
VEMAX has a 0.14% expense ratio, which is higher than VO's 0.04% 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%.
Return for Risk
VEMAX vs. VO — Risk / Return Rank
VEMAX
VO
VEMAX vs. VO - 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 Vanguard Mid-Cap ETF (VO). 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.
| VEMAX | VO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.23 | 0.73 | +0.51 |
Sortino ratioReturn per unit of downside risk | 1.70 | 1.12 | +0.58 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.16 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.05 | +0.48 |
Martin ratioReturn relative to average drawdown | 5.69 | 4.84 | +0.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEMAX | VO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 0.73 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.38 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.57 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.48 | -0.22 |
Correlation
The correlation between VEMAX and VO is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VEMAX vs. VO - Dividend Comparison
VEMAX's dividend yield for the trailing twelve months is around 2.73%, more than VO's 1.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 2.73% | 2.74% | 3.13% | 3.47% | 4.05% | 2.57% | 1.87% | 3.20% | 2.85% | 2.31% | 2.51% | 3.25% |
VO Vanguard Mid-Cap ETF | 1.51% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Drawdowns
VEMAX vs. VO - Drawdown Comparison
The maximum VEMAX drawdown since its inception was -66.45%, which is greater than VO's maximum drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for VEMAX and VO.
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Drawdown Indicators
| VEMAX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.45% | -58.87% | -7.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.08% | -12.74% | +1.66% |
Max Drawdown (5Y)Largest decline over 5 years | -32.60% | -27.57% | -5.03% |
Max Drawdown (10Y)Largest decline over 10 years | -36.11% | -39.37% | +3.26% |
Current DrawdownCurrent decline from peak | -11.05% | -6.12% | -4.93% |
Average DrawdownAverage peak-to-trough decline | -16.25% | -7.91% | -8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.76% | +0.23% |
Volatility
VEMAX vs. VO - Volatility Comparison
Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) has a higher volatility of 6.36% compared to Vanguard Mid-Cap ETF (VO) at 4.89%. This indicates that VEMAX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMAX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 4.89% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 9.72% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 17.57% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 17.62% | -2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.37% | 18.94% | -2.57% |