VMMSX vs. DODEX
Compare and contrast key facts about Vanguard Emerging Markets Select Stock Fund (VMMSX) and Dodge & Cox Emerging Markets Stock Fund (DODEX).
VMMSX is managed by Vanguard. It was launched on Jun 27, 2011. DODEX is managed by Dodge & Cox. It was launched on May 10, 2021.
Performance
VMMSX vs. DODEX - Performance Comparison
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VMMSX vs. DODEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VMMSX Vanguard Emerging Markets Select Stock Fund | 3.63% | 35.68% | 5.91% | 10.58% | -18.15% | -8.23% |
DODEX Dodge & Cox Emerging Markets Stock Fund | 5.97% | 38.64% | 7.47% | 13.37% | -14.91% | -9.57% |
Returns By Period
In the year-to-date period, VMMSX achieves a 3.63% return, which is significantly lower than DODEX's 5.97% return.
VMMSX
- 1D
- 3.05%
- 1M
- -8.67%
- YTD
- 3.63%
- 6M
- 7.87%
- 1Y
- 33.08%
- 3Y*
- 16.11%
- 5Y*
- 4.53%
- 10Y*
- 9.07%
DODEX
- 1D
- 2.05%
- 1M
- -7.66%
- YTD
- 5.97%
- 6M
- 10.10%
- 1Y
- 37.89%
- 3Y*
- 19.31%
- 5Y*
- —
- 10Y*
- —
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VMMSX vs. DODEX - Expense Ratio Comparison
VMMSX has a 0.84% expense ratio, which is higher than DODEX's 0.70% expense ratio.
Return for Risk
VMMSX vs. DODEX — Risk / Return Rank
VMMSX
DODEX
VMMSX vs. DODEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Select Stock Fund (VMMSX) and Dodge & Cox Emerging Markets Stock Fund (DODEX). 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.
| VMMSX | DODEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.87 | 2.52 | -0.65 |
Sortino ratioReturn per unit of downside risk | 2.44 | 3.12 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.49 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.21 | -0.77 |
Martin ratioReturn relative to average drawdown | 9.66 | 12.57 | -2.91 |
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
| VMMSX | DODEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.52 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.41 | -0.14 |
Correlation
The correlation between VMMSX and DODEX is 0.94, 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
VMMSX vs. DODEX - Dividend Comparison
VMMSX's dividend yield for the trailing twelve months is around 2.24%, less than DODEX's 2.67% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMMSX Vanguard Emerging Markets Select Stock Fund | 2.24% | 2.32% | 3.33% | 3.05% | 3.71% | 6.80% | 1.04% | 2.04% | 2.53% | 1.54% | 1.44% | 1.87% |
DODEX Dodge & Cox Emerging Markets Stock Fund | 2.67% | 2.83% | 1.94% | 1.92% | 1.93% | 1.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMMSX vs. DODEX - Drawdown Comparison
The maximum VMMSX drawdown since its inception was -39.28%, which is greater than DODEX's maximum drawdown of -37.01%. Use the drawdown chart below to compare losses from any high point for VMMSX and DODEX.
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Drawdown Indicators
| VMMSX | DODEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.28% | -37.01% | -2.27% |
Max Drawdown (1Y)Largest decline over 1 year | -13.46% | -11.87% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -37.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.82% | — | — |
Current DrawdownCurrent decline from peak | -10.82% | -9.14% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -13.53% | -13.19% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 3.03% | +0.36% |
Volatility
VMMSX vs. DODEX - Volatility Comparison
Vanguard Emerging Markets Select Stock Fund (VMMSX) has a higher volatility of 8.89% compared to Dodge & Cox Emerging Markets Stock Fund (DODEX) at 7.57%. This indicates that VMMSX's price experiences larger fluctuations and is considered to be riskier than DODEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMMSX | DODEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 7.57% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 11.11% | +1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.95% | 15.66% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 16.74% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.29% | 16.74% | +1.55% |