VMMSX vs. SIVLX

Last updated Aug 2, 2026

VMMSX (Vanguard Emerging Markets Select Stock Fund) and SIVLX (Seafarer Overseas Value Fund Institutional Class) are both Emerging Markets Equities funds. Over the past 5 years, VMMSX returned 7.04%/yr vs 10.04%/yr for SIVLX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. VMMSX charges 0.84%/yr vs 1.05%/yr for SIVLX.

Performance

VMMSX vs. SIVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Select Stock Fund (VMMSX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMMSX achieves a 13.15% return, which is significantly higher than SIVLX's 7.95% return.

VMMSX

• 1D: 2.98%
• 1M: -0.35%
• 6M: 3.08%
• YTD: 13.15%
• 1Y: 32.23%
• 3Y*: 16.15%
• 5Y*: 7.04%
• 10Y*: 9.09%
• ALL TIME*: 5.42%

SIVLX

• 1D: 2.92%
• 1M: 2.86%
• 6M: -1.13%
• YTD: 7.95%
• 1Y: 20.54%
• 3Y*: 12.78%
• 5Y*: 10.04%
• 10Y*: —
• ALL TIME*: 9.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SIVLX Seafarer Overseas Value Fund Institutional Class	$0.00	$0.00	$0.00
VMMSX Vanguard Emerging Markets Select Stock Fund	$0.00	$0.00	$0.00

VMMSX vs. SIVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMMSX Vanguard Emerging Markets Select Stock Fund	13.15%	35.68%	5.91%	10.58%	-18.15%	-1.40%	15.79%	21.42%	-12.53%	32.01%
SIVLX Seafarer Overseas Value Fund Institutional Class	7.95%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%

Correlation

The correlation between VMMSX and SIVLX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.76

The correlation between VMMSX and SIVLX has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

Return for Risk

VMMSX vs. SIVLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VMMSX

VMMSX Risk / Return Rank: 63
VMMSX Sharpe Ratio Rank: 66
VMMSX Sortino Ratio Rank: 59
VMMSX Omega Ratio Rank: 66
VMMSX Calmar Ratio Rank: 69
VMMSX Martin Ratio Rank: 57

SIVLX

SIVLX Risk / Return Rank: 41
SIVLX Sharpe Ratio Rank: 47
SIVLX Sortino Ratio Rank: 46
SIVLX Omega Ratio Rank: 54
SIVLX Calmar Ratio Rank: 32
SIVLX Martin Ratio Rank: 24

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VMMSX vs. SIVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Select Stock Fund (VMMSX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). 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.

	VMMSX	SIVLX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.33	+0.21
Sortino ratio: Return per unit of downside risk	2.06	1.91	+0.15
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio: Return relative to maximum drawdown	2.19	1.45	+0.75
Martin ratio: Return relative to average drawdown	7.30	3.58	+3.72

VMMSX vs. SIVLX - Sharpe Ratio Comparison

The current VMMSX Sharpe Ratio is 1.54, which is comparable to the SIVLX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of VMMSX and SIVLX, 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

VMMSX vs. SIVLX - Drawdown Comparison

The maximum VMMSX drawdown since its inception was -39.28%, which is greater than SIVLX's maximum drawdown of -33.09%. Use the drawdown chart below to compare losses from any high point for VMMSX and SIVLX.

Drawdown Indicators

	VMMSX	SIVLX	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-33.09%	-6.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.46%	-12.51%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-12.51%	-5.86%
Max Drawdown (5Y) Largest decline over 5 years	-34.41%	-16.39%	-18.02%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	—	—
Current Drawdown Current decline from peak	-6.45%	-6.81%	+0.36%
Average Drawdown Average peak-to-trough decline	-13.32%	-5.64%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.04%	5.05%	-1.01%

Volatility

VMMSX vs. SIVLX - Volatility Comparison

Vanguard Emerging Markets Select Stock Fund (VMMSX) has a higher volatility of 6.75% compared to Seafarer Overseas Value Fund Institutional Class (SIVLX) at 4.60%. This indicates that VMMSX's price experiences larger fluctuations and is considered to be riskier than SIVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMMSX	SIVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	4.60%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	16.85%	12.06%	+4.79%
Volatility (1Y) Calculated over the trailing 1-year period	19.22%	13.60%	+5.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	12.04%	+6.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.50%	12.71%	+5.79%

VMMSX vs. SIVLX - Expense Ratio Comparison

VMMSX has a 0.84% expense ratio, which is lower than SIVLX's 1.05% expense ratio.

Dividends

VMMSX vs. SIVLX - Dividend Comparison

VMMSX's dividend yield for the trailing twelve months is around 2.05%, less than SIVLX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIVLX Seafarer Overseas Value Fund Institutional Class	4.68%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%	0.00%
VMMSX Vanguard Emerging Markets Select Stock Fund	2.05%	2.32%	3.33%	3.05%	3.71%	6.80%	1.04%	2.04%	2.53%	1.54%	1.44%	1.87%

Frequently Asked Questions

Can I hold both VMMSX and SIVLX in my portfolio?

VMMSX and SIVLX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMMSX or SIVLX?

VMMSX has higher volatility (6.75%) compared to SIVLX (4.60%). In terms of maximum drawdown, VMMSX dropped -39.28% vs SIVLX's -33.09%.

Which has better risk-adjusted returns?

VMMSX currently has the higher Sharpe Ratio (1.54 vs 1.33), 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.