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VTSAX vs. VEMAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VTSAX vs. VEMAX

Last updated Jun 16, 2026

VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both mutual funds - VTSAX is a Large Cap Blend Equities fund managed by Vanguard, while VEMAX is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index. Over the past 10 years, VTSAX returned 15.01%/yr vs 8.94%/yr for VEMAX. A 0.72 correlation means they provide meaningful diversification when combined. VTSAX charges 0.04%/yr vs 0.13%/yr for VEMAX.

Performance

VTSAX vs. VEMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VTSAX achieves a 9.65% return, which is significantly lower than VEMAX's 10.89% return. Over the past 10 years, VTSAX has outperformed VEMAX with an annualized return of 15.01%, while VEMAX has yielded a comparatively lower 8.94% annualized return.

VTSAX

1D
0.50%
1M
1.05%
YTD
9.65%
6M
9.97%
1Y
26.30%
3Y*
20.61%
5Y*
12.20%
10Y*
15.01%

VEMAX

1D
0.94%
1M
1.75%
YTD
10.89%
6M
12.91%
1Y
26.69%
3Y*
16.58%
5Y*
4.95%
10Y*
8.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VTSAX vs. VEMAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VTSAX
Vanguard Total Stock Market Index Fund Admiral Shares		9.65%17.12%23.23%26.51%-19.52%25.72%20.98%30.79%-5.18%21.16%
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		10.89%24.76%11.34%8.82%-17.79%0.85%15.24%20.29%-14.59%31.37%

Correlation

The correlation between VTSAX and VEMAX is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2006

0.72

The correlation between VTSAX and VEMAX has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

VTSAX vs. VEMAX - Sectors Allocation Comparison

Sectors
VTSAX
VEMAX

Technology

33.3%
29.6%

Financial Services

11.9%
19.5%

Communication Services

10.1%
7.1%

Consumer Cyclical

9.8%
10.7%

Industrials

9.5%
8.0%

Healthcare

9.1%
3.9%

Consumer Defensive

4.7%
3.7%

Energy

3.8%
4.6%

Utilities

2.7%
2.9%

Real Estate

2.4%
2.2%

Basic Materials

2.0%
8.0%

Technology

VTSAX
33.3%
VEMAX
29.6%

Financial Services

VTSAX
11.9%
VEMAX
19.5%

Communication Services

VTSAX
10.1%
VEMAX
7.1%

Consumer Cyclical

VTSAX
9.8%
VEMAX
10.7%

Industrials

VTSAX
9.5%
VEMAX
8.0%

Healthcare

VTSAX
9.1%
VEMAX
3.9%

Consumer Defensive

VTSAX
4.7%
VEMAX
3.7%

Energy

VTSAX
3.8%
VEMAX
4.6%

Utilities

VTSAX
2.7%
VEMAX
2.9%

Real Estate

VTSAX
2.4%
VEMAX
2.2%

Basic Materials

VTSAX
2.0%
VEMAX
8.0%

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Vanguard Total Stock Market Index Fund Admiral Shares

Vanguard Emerging Markets Stock Index Fund Admiral Shares

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Often compared with VEMAX:
VEMAX vs. VWOVEMAX vs. VTMGXVEMAX vs. VFIAXVEMAX vs. FPADXVEMAX vs. FEMKXVEMAX vs. FSPSXVEMAX vs. VINEX

Return for Risk

VTSAX vs. VEMAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VTSAX
VTSAX Risk / Return Rank: 6565
Overall Rank
VTSAX Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
VTSAX Sortino Ratio Rank: 5757
Sortino Ratio Rank
VTSAX Omega Ratio Rank: 5858
Omega Ratio Rank
VTSAX Calmar Ratio Rank: 6868
Calmar Ratio Rank
VTSAX Martin Ratio Rank: 7979
Martin Ratio Rank
VEMAX
VEMAX Risk / Return Rank: 4444
Overall Rank
VEMAX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
VEMAX Sortino Ratio Rank: 4242
Sortino Ratio Rank
VEMAX Omega Ratio Rank: 4545
Omega Ratio Rank
VEMAX Calmar Ratio Rank: 4545
Calmar Ratio Rank
VEMAX Martin Ratio Rank: 4444
Martin Ratio Rank
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.

VTSAX vs. VEMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). 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.

VTSAXVEMAXDifference
Sharpe ratioReturn per unit of total volatility
1.96
1.68

+0.28

Sortino ratioReturn per unit of downside risk
2.67
2.34

+0.33

Omega ratioGain probability vs. loss probability

1.35

1.31

+0.04

Calmar ratioReturn relative to maximum drawdown

2.79

2.28

+0.51

Martin ratioReturn relative to average drawdown

12.56

8.31

+4.25

VTSAX vs. VEMAX - Sharpe Ratio Comparison

The current VTSAX Sharpe Ratio is 1.96, which is comparable to the VEMAX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of VTSAX and VEMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VTSAX vs. VEMAX - Drawdown Comparison

The maximum VTSAX drawdown since its inception was -55.33%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for VTSAX and VEMAX.

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Drawdown Indicators

VTSAXVEMAXDifference

Max Drawdown

Largest peak-to-trough decline

-55.33%

-66.45%

+11.12%

Max Drawdown (1Y)

Largest decline over 1 year

-8.92%

-11.05%

+2.13%

Max Drawdown (3Y)

Largest decline over 3 years

-19.36%

-15.78%

-3.58%

Max Drawdown (5Y)

Largest decline over 5 years

-25.36%

-32.46%

+7.10%

Max Drawdown (10Y)

Largest decline over 10 years

-34.97%

-36.11%

+1.14%

Current Drawdown

Current decline from peak

-2.07%

-2.69%

+0.62%

Average Drawdown

Average peak-to-trough decline

-9.00%

-16.10%

+7.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.98%

3.03%

-1.05%

Volatility

VTSAX vs. VEMAX - Volatility Comparison

The current volatility for Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) is 4.59%, while Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) has a volatility of 6.17%. This indicates that VTSAX experiences smaller price fluctuations and is considered to be less risky than VEMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VTSAXVEMAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.59%

6.17%

-1.58%

Volatility (6M)

Calculated over the trailing 6-month period

9.92%

12.67%

-2.75%

Volatility (1Y)

Calculated over the trailing 1-year period

12.71%

14.99%

-2.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.43%

15.50%

+1.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.44%

16.49%

+1.95%

VTSAX vs. VEMAX - Expense Ratio Comparison

VTSAX has a 0.04% expense ratio, which is lower than VEMAX's 0.13% 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

VTSAX vs. VEMAX - Dividend Comparison

VTSAX's dividend yield for the trailing twelve months is around 1.02%, less than VEMAX's 2.40% yield.

PositionTTM20252024202320222021202020192018201720162015
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		2.40%2.74%3.13%3.47%4.05%2.57%1.87%3.20%2.85%2.31%2.51%3.25%
VTSAX
Vanguard Total Stock Market Index Fund Admiral Shares		1.02%1.11%1.26%1.42%1.65%1.20%1.41%1.76%2.03%1.71%1.92%1.98%

Frequently Asked Questions

VTSAX and VEMAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEMAX has higher volatility (6.17%) compared to VTSAX (4.59%). In terms of maximum drawdown, VTSAX dropped -55.33% vs VEMAX's -66.45%.

VTSAX currently has the higher Sharpe Ratio (1.96 vs 1.68), 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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