VESIX vs. VEMPX

Last updated Jun 23, 2026

VESIX (Vanguard European Stock Index Fund Institutional Shares) and VEMPX (Vanguard Extended Market Index Fund Institutional Plus Shares) are both mutual funds - VESIX is a Europe Equities fund managed by Vanguard, while VEMPX is a Mid Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VESIX returned 9.63%/yr vs 12.35%/yr for VEMPX. A 0.71 correlation means they provide meaningful diversification when combined. VESIX charges 0.08%/yr vs 0.04%/yr for VEMPX.

Performance

VESIX vs. VEMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard European Stock Index Fund Institutional Shares (VESIX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VESIX achieves a 7.46% return, which is significantly lower than VEMPX's 15.71% return. Over the past 10 years, VESIX has underperformed VEMPX with an annualized return of 9.63%, while VEMPX has yielded a comparatively higher 12.35% annualized return.

VESIX

• 1D: 0.30%
• 1M: 0.94%
• YTD: 7.46%
• 6M: 7.99%
• 1Y: 21.44%
• 3Y*: 15.92%
• 5Y*: 9.23%
• 10Y*: 9.63%

VEMPX

• 1D: 1.66%
• 1M: 4.42%
• YTD: 15.71%
• 6M: 12.70%
• 1Y: 30.65%
• 3Y*: 19.15%
• 5Y*: 6.97%
• 10Y*: 12.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VESIX vs. VEMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VESIX Vanguard European Stock Index Fund Institutional Shares	7.46%	35.43%	2.02%	20.03%	-16.07%	16.31%	6.46%	24.24%	-14.78%	27.05%
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares	15.71%	11.43%	15.50%	26.98%	-26.45%	12.48%	32.24%	28.06%	-9.35%	18.13%

Correlation

The correlation between VESIX and VEMPX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010	0.71

The correlation between VESIX and VEMPX has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

Return for Risk

VESIX vs. VEMPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VESIX

VESIX Risk / Return Rank: 26
VESIX Sharpe Ratio Rank: 26
VESIX Sortino Ratio Rank: 26
VESIX Omega Ratio Rank: 25
VESIX Calmar Ratio Rank: 26
VESIX Martin Ratio Rank: 30

VEMPX

VEMPX Risk / Return Rank: 47
VEMPX Sharpe Ratio Rank: 40
VEMPX Sortino Ratio Rank: 38
VEMPX Omega Ratio Rank: 36
VEMPX Calmar Ratio Rank: 66
VEMPX Martin Ratio Rank: 55

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.

VESIX vs. VEMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard European Stock Index Fund Institutional Shares (VESIX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX). 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.

	VESIX	VEMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.72	-0.36
Sortino ratio: Return per unit of downside risk	1.97	2.40	-0.43
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.76	2.98	-1.22
Martin ratio: Return relative to average drawdown	6.51	10.46	-3.95

VESIX vs. VEMPX - Sharpe Ratio Comparison

The current VESIX Sharpe Ratio is 1.36, which is comparable to the VEMPX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VESIX and VEMPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VESIX vs. VEMPX - Drawdown Comparison

The maximum VESIX drawdown since its inception was -63.25%, which is greater than VEMPX's maximum drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for VESIX and VEMPX.

Drawdown Indicators

	VESIX	VEMPX	Difference
Max Drawdown Largest peak-to-trough decline	-63.25%	-41.62%	-21.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-10.25%	-1.71%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-26.83%	+12.89%
Max Drawdown (5Y) Largest decline over 5 years	-32.68%	-36.32%	+3.64%
Max Drawdown (10Y) Largest decline over 10 years	-36.85%	-41.62%	+4.77%
Current Drawdown Current decline from peak	-0.81%	-0.12%	-0.69%
Average Drawdown Average peak-to-trough decline	-15.20%	-7.95%	-7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.91%	+0.33%

Volatility

VESIX vs. VEMPX - Volatility Comparison

The current volatility for Vanguard European Stock Index Fund Institutional Shares (VESIX) is 5.02%, while Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) has a volatility of 6.37%. This indicates that VESIX experiences smaller price fluctuations and is considered to be less risky than VEMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VESIX	VEMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	6.37%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	13.08%	13.33%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	17.81%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	22.45%	-5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	22.41%	-4.20%

VESIX vs. VEMPX - Expense Ratio Comparison

VESIX has a 0.08% expense ratio, which is higher than VEMPX'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%.

Dividends

VESIX vs. VEMPX - Dividend Comparison

VESIX's dividend yield for the trailing twelve months is around 2.91%, more than VEMPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares	1.01%	1.15%	1.11%	1.27%	1.17%	1.15%	1.09%	1.32%	1.68%	1.27%	1.46%	1.39%
VESIX Vanguard European Stock Index Fund Institutional Shares	2.91%	2.86%	3.60%	3.15%	3.25%	3.04%	2.10%	3.28%	3.95%	2.72%	3.54%	3.27%

Frequently Asked Questions

Can I hold both VESIX and VEMPX in my portfolio?

VESIX and VEMPX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VESIX or VEMPX?

VEMPX has higher volatility (6.37%) compared to VESIX (5.02%). In terms of maximum drawdown, VESIX dropped -63.25% vs VEMPX's -41.62%.

Which has better risk-adjusted returns?

VEMPX currently has the higher Sharpe Ratio (1.72 vs 1.36), 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.