Emerging Markets Stock Index Fund Admiral Shares (VEMAX)

Also available in 

more share classes

, including an 

ETF

.

Indexed to FTSE Emerging Index

  Fact sheet (03/31/2014)

Characteristics

Stylebox

Vanguard style view is not available. This fund is not accurately defined by style, either because of the fund's investment mandate, or asset class.

Market capitalization
as of 03/31/2014

  VEMAX Benchmark

FTSE Emerging Index

+/- Weight
Large 15.5% 16.9% – 1.4%
Medium/Large 19.7% 18.5% 1.2%
Medium 27.4% 27.0% 0.4%
Medium/Small 24.0% 24.0% 0.0%
Small 13.4% 13.6% – 0.2%
Total 100.0% 100.0%  

More information about market capitalization  


Fundamentals
as of 03/31/2014

  VEMAX Benchmark

FTSE Emerging Index

+/- Weight
Number of stocks 961 889 72
Median market cap $16.9 billion $16.8 billion $0.1 billion
% Emerging 100.00% 100.00% 0.00%
% Developed 0.00% 0.00% 0.00%
  VEMAX Benchmark

FTSE Emerging Index

Earnings growth rate 12.7% 12.5%
Short-term reserves 0.03% N/A
% of ADR/GDR (as of 03/31/2014) 9.57% N/A
P/E ratio 13.6x 12.9x
P/B ratio 1.7x 1.7x
Turnover rate (Fiscal year-end 10/31/2013) 26.0% N/A
Return on equity 18.6% 18.5%
Foreign holdings 99.48% N/A

Composition

Regional exposure  (% of equities)

Select time  
  Region
 
 VEMAX
 
Benchmark

FTSE Emerging Index

 
+/- Weight
 
Emerging Markets 100.0% 100.0% 0.0%
0%
100%
Total 100.0% 100.0%  

Country diversification  (% of equities)
as of 03/31/2014

  Country
 
 VEMAX
 
Benchmark

FTSE Emerging Index

 
+/- Weight
 
Region
 
China 21.2% 21.1% 0.1% Emerging Markets
Taiwan 13.6% 13.6% 0.0% Emerging Markets
Brazil 13.2% 13.3% – 0.1% Emerging Markets
India 10.1% 9.9% 0.2% Emerging Markets
South Africa 9.7% 9.7% 0.0% Emerging Markets
Mexico 5.8% 5.8% 0.0% Emerging Markets
Russia 5.8% 5.7% 0.1% Emerging Markets
Malaysia 4.9% 4.8% 0.1% Emerging Markets
Indonesia 2.9% 2.9% 0.0% Emerging Markets
Thailand 2.8% 2.8% 0.0% Emerging Markets
Poland 1.9% 1.9% 0.0% Emerging Markets
Chile 1.8% 1.7% 0.1% Emerging Markets
Turkey 1.8% 1.8% 0.0% Emerging Markets
Philippines 1.6% 1.6% 0.0% Emerging Markets
Colombia 1.1% 1.1% 0.0% Emerging Markets
United Arab Emirates 0.8% 0.9% – 0.1% Emerging Markets
Czech Republic 0.3% 0.3% 0.0% Emerging Markets
Hungary 0.3% 0.3% 0.0% Emerging Markets
Peru 0.3% 0.3% 0.0% Emerging Markets
Egypt 0.1% 0.3% – 0.2% Emerging Markets
Pakistan 0.2% Emerging Markets
0%
25%
Total 100.0% 100.0%

Sector weightings
as of 03/31/2014

  Sector
 
 VEMAX
 
Benchmark

FTSE Emerging Index

 
+/- Weight
 
Financials 29.1% 29.3% – 0.2%
Oil & Gas 11.8% 11.9% – 0.1%
Industrials 10.0% 10.0% 0.0%
Technology 9.9% 9.8% 0.1%
Consumer Goods 9.7% 9.7% 0.0%
Basic Materials 8.4% 8.4% 0.0%
Telecommunications 8.0% 7.9% 0.1%
Consumer Services 7.1% 7.1% 0.0%
Utilities 3.9% 3.9% 0.0%
Health Care 2.1% 2.0% 0.1%
Other 0.0% 0.0% 0.0%
0%
30%
Total 100.0% 100.0%

Sector categories are based on the Industry Classification Benchmark system.

People and process

Firms

Vanguard Equity Investment Group

Product management

Vanguard Emerging Markets Stock Index Fund seeks to track the investment performance of the FTSE Emerging Index, The fund invests substantially all (normally about 95%) of its assets in the common stocks of the index, while employing a form of sampling to reduce risk. The FTSE Emerging Index is a market-capitalization weighted index representing the performance of large and mid cap companies in emerging markets such as Brazil, Russia, India, Taiwan, and China. The experience and stability of Vanguard’s Equity Investment Group have permitted continuous refinement of techniques for reducing tracking error. The group uses proprietary software to implement trading decisions that accommodate cash flow and maintain close correlation with index characteristics. Vanguard’s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking, net of expenses.

Vanguard Equity Investment Group

Firm description

Launched in 1975, The Vanguard Group, Malvern, Pennsylvania, is among the world’s largest equity and fixed income managers. As chief investment officer and managing director, Mortimer J. Buckley oversees Vanguard’s Equity Investment and Fixed Income Groups. Joseph Brennan, CFA, Principal of Vanguard and head of Vanguard’s Equity Index Group, has oversight responsibility for all equity index funds managed by the Equity Investment Group. John Ameriks, Ph.D., Principal of Vanguard and head of Vanguard’s Active Equity Group, has oversight responsibility for all active equity funds managed by the Equity Investment Group. The Equity Investment Group manages indexed and structured equity portfolios covering U.S. and international markets. It has developed sophisticated portfolio construction methodologies and efficient trading strategies that seek to deliver returns that are highly correlated with target portfolio benchmarks. The group has advised Vanguard Emerging Markets Stock Index Fund since 1994.

Investment Manager Biography

Michael Perre, Principal

  • Portfolio manager.
  • Advised the fund since 2008.
  • Worked in investment management since 1990.
  • B.A., Saint Joseph’s University.
  • M.B.A., Villanova University.

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