VEMRX vs. DFREX
VEMRX (Vanguard Emerging Markets Index Fund Institutional Plus Shares) and DFREX (DFA Real Estate Securities Portfolio Class I) are both mutual funds - VEMRX is a Emerging Markets Equities fund managed by Vanguard, while DFREX is a REIT fund managed by Dimensional. Over the past 10 years, VEMRX returned 7.63%/yr vs 5.23%/yr for DFREX. Their 0.40 correlation means their historical movements had little consistent relationship. VEMRX charges 0.08%/yr vs 0.18%/yr for DFREX.
Performance
VEMRX vs. DFREX - Performance Comparison
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Returns By Period
In the year-to-date period, VEMRX achieves a 7.83% return, which is significantly lower than DFREX's 18.16% return. Over the past 10 years, VEMRX has outperformed DFREX with an annualized return of 7.63%, while DFREX has yielded a comparatively lower 5.23% annualized return.
VEMRX
- 1D
- 1.69%
- 1M
- -1.72%
- 6M
- 2.69%
- YTD
- 7.83%
- 1Y
- 20.01%
- 3Y*
- 13.74%
- 5Y*
- 5.83%
- 10Y*
- 7.63%
- ALL TIME*
- 4.08%
DFREX
- 1D
- -1.44%
- 1M
- 1.35%
- 6M
- 15.08%
- YTD
- 18.16%
- 1Y
- 19.81%
- 3Y*
- 10.29%
- 5Y*
- 3.33%
- 10Y*
- 5.23%
- ALL TIME*
- 9.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VEMRX vs. DFREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMRX Vanguard Emerging Markets Index Fund Institutional Plus Shares | 7.83% | 24.84% | 11.40% | 8.88% | -17.74% | 0.92% | 15.29% | 20.39% | -14.55% | 31.44% |
DFREX DFA Real Estate Securities Portfolio Class I | 18.16% | 1.52% | 5.52% | 11.20% | -24.93% | 41.88% | -5.03% | 28.12% | -3.01% | 4.25% |
Correlation
The correlation between VEMRX and DFREX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010 | 0.40 |
Over the past year, the correlation between VEMRX and DFREX has dropped to 0.07 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
VEMRX vs. DFREX — Risk / Return Rank
VEMRX
DFREX
VEMRX vs. DFREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Index Fund Institutional Plus Shares (VEMRX) and DFA Real Estate Securities Portfolio Class I (DFREX). 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.
| VEMRX | DFREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.14 | -0.47 |
| Martin ratioReturn relative to average drawdown | 5.54 | 7.17 | -1.63 |
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Drawdowns
VEMRX vs. DFREX - Drawdown Comparison
The maximum VEMRX drawdown since its inception was -36.01%, smaller than the maximum DFREX drawdown of -74.36%. Use the drawdown chart below to compare losses from any high point for VEMRX and DFREX.
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Drawdown Indicators
| VEMRX | DFREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.01% | -74.36% | +38.35% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -8.40% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -15.74% | -17.64% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -30.65% | -33.11% | +2.46% |
Max Drawdown (10Y)Largest decline over 10 years | -36.01% | -41.49% | +5.48% |
Current DrawdownCurrent decline from peak | -5.42% | -1.71% | -3.71% |
Average DrawdownAverage peak-to-trough decline | -12.73% | -11.29% | -1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.59% | +0.71% |
Volatility
VEMRX vs. DFREX - Volatility Comparison
Vanguard Emerging Markets Index Fund Institutional Plus Shares (VEMRX) has a higher volatility of 5.22% compared to DFA Real Estate Securities Portfolio Class I (DFREX) at 4.43%. This indicates that VEMRX's price experiences larger fluctuations and is considered to be riskier than DFREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMRX | DFREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 4.43% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 10.87% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 13.86% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 18.77% | -3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.50% | 20.35% | -3.85% |
VEMRX vs. DFREX - Expense Ratio Comparison
VEMRX has a 0.08% expense ratio, which is lower than DFREX's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VEMRX vs. DFREX - Dividend Comparison
VEMRX's dividend yield for the trailing twelve months is around 2.40%, less than DFREX's 2.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 2.73% | 2.84% | 2.97% | 3.59% | 6.24% | 2.56% | 3.36% | 2.23% | 4.88% | 1.89% | 2.83% | 2.86% |
VEMRX Vanguard Emerging Markets Index Fund Institutional Plus Shares | 2.40% | 2.79% | 3.19% | 3.53% | 4.11% | 2.63% | 1.92% | 3.26% | 2.92% | 2.35% | 2.56% | 3.31% |
Frequently Asked Questions
VEMRX and DFREX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEMRX has higher volatility (5.22%) compared to DFREX (4.43%). In terms of maximum drawdown, VEMRX dropped -36.01% vs DFREX's -74.36%.
DFREX currently has the higher Sharpe Ratio (1.30 vs 1.15), 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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