VEMIX vs. PZIEX
Compare and contrast key facts about Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX) and Pzena Emerging Markets Value Fund Institutional Class (PZIEX).
VEMIX is managed by Vanguard. It was launched on Jun 22, 2000. PZIEX is an actively managed fund by Pzena. It was launched on Mar 31, 2014.
Performance
VEMIX vs. PZIEX - Performance Comparison
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VEMIX vs. PZIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | -2.51% | 24.80% | 11.38% | 8.85% | -17.75% | 0.91% | 15.26% | 20.35% | -14.55% | 31.42% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.56% | 35.49% | 4.54% | 20.73% | -5.67% | 6.65% | 8.43% | 13.57% | -10.23% | 29.98% |
Returns By Period
In the year-to-date period, VEMIX achieves a -2.51% return, which is significantly lower than PZIEX's 4.56% return. Over the past 10 years, VEMIX has underperformed PZIEX with an annualized return of 7.32%, while PZIEX has yielded a comparatively higher 11.43% annualized return.
VEMIX
- 1D
- -0.84%
- 1M
- -9.72%
- YTD
- -2.51%
- 6M
- -1.15%
- 1Y
- 19.17%
- 3Y*
- 12.50%
- 5Y*
- 3.40%
- 10Y*
- 7.32%
PZIEX
- 1D
- -1.41%
- 1M
- -11.82%
- YTD
- 4.56%
- 6M
- 10.95%
- 1Y
- 33.26%
- 3Y*
- 18.81%
- 5Y*
- 10.19%
- 10Y*
- 11.43%
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VEMIX vs. PZIEX - Expense Ratio Comparison
VEMIX has a 0.10% expense ratio, which is lower than PZIEX's 1.08% expense ratio.
Return for Risk
VEMIX vs. PZIEX — Risk / Return Rank
VEMIX
PZIEX
VEMIX vs. PZIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX) and Pzena Emerging Markets Value Fund Institutional Class (PZIEX). 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.
| VEMIX | PZIEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.24 | 2.07 | -0.83 |
Sortino ratioReturn per unit of downside risk | 1.70 | 2.52 | -0.82 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.39 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.40 | -0.87 |
Martin ratioReturn relative to average drawdown | 5.69 | 9.28 | -3.59 |
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
| VEMIX | PZIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 2.07 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.71 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.75 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.57 | -0.24 |
Correlation
The correlation between VEMIX and PZIEX is 0.73, 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
VEMIX vs. PZIEX - Dividend Comparison
VEMIX's dividend yield for the trailing twelve months is around 2.76%, less than PZIEX's 4.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEMIX Vanguard Emerging Markets Stock Index Fund Institutional Shares | 2.76% | 2.77% | 3.17% | 3.51% | 4.09% | 2.61% | 1.90% | 3.23% | 2.89% | 2.33% | 2.55% | 2.51% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.60% | 4.81% | 7.38% | 5.79% | 2.08% | 2.79% | 1.28% | 6.32% | 1.28% | 1.41% | 0.98% | 2.23% |
Drawdowns
VEMIX vs. PZIEX - Drawdown Comparison
The maximum VEMIX drawdown since its inception was -66.43%, which is greater than PZIEX's maximum drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for VEMIX and PZIEX.
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Drawdown Indicators
| VEMIX | PZIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.43% | -44.59% | -21.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -12.73% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -32.56% | -25.38% | -7.18% |
Max Drawdown (10Y)Largest decline over 10 years | -36.04% | -44.59% | +8.55% |
Current DrawdownCurrent decline from peak | -11.05% | -12.73% | +1.68% |
Average DrawdownAverage peak-to-trough decline | -16.08% | -9.64% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 3.29% | -0.30% |
Volatility
VEMIX vs. PZIEX - Volatility Comparison
The current volatility for Vanguard Emerging Markets Stock Index Fund Institutional Shares (VEMIX) is 6.36%, while Pzena Emerging Markets Value Fund Institutional Class (PZIEX) has a volatility of 7.69%. This indicates that VEMIX experiences smaller price fluctuations and is considered to be less risky than PZIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMIX | PZIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 7.69% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.71% | 11.62% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 15.48% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 14.51% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.37% | 15.31% | +1.06% |