Vanguard Emerging Markets Stock Index Fund Admiral Shares
VEMAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- PO Box 2600 Valley Forge PA United States of America 19482
- IPO Date
- Jun 23, 2006
- CIK
- 0000857489
- Website
- vanguard.com
- Similar Companies
- Business
- Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) is an open-end mutual fund that employs a passive indexing investment approach designed to track the performance of the FTSE Emerging Markets All Cap China A Inclusion Index. The fund provides investors with broad exposure to large-, mid-, and small-cap stocks issued by companies located in more than 20 emerging market countries, excluding South Korea which FTSE classifies as a developed market; its market-cap-weighted portfolio holds approximately 5,000 stocks across key sectors including technology (21.41%), financial services (19.77%), and consumer cyclical (13.55%), with top holdings such as Taiwan Semiconductor Manufacturing Co Ltd (10.72%), Tencent Holdings Ltd (4.60%), and Alibaba Group Holding Ltd (3.48%). It offers a low expense ratio of 0.13%-0.14%, daily pricing, quarterly distributions with a TTM yield of 2.78%, a minimum initial investment of $3,000, and no front-end or deferred loads. Launched on June 23, 2006, and domiciled in the United States, the fund is managed by Vanguard Group headquartered in Malvern, Pennsylvania, with a portfolio management team including Michael Perre (since 2008), Jeffrey Miller (since 2016), and John Kraynak (since February 2025). Geographically, the fund emphasizes emerging Asia (55.73%), followed by developed Asia (20.56%), Middle East (6.69%), Latin America (6.58%), and Africa (3.72%), delivering diversified non-U.S. equity exposure (95.38% of assets) primarily to institutional and retail investors seeking emerging markets growth. As of late 2025, total net assets stand at approximately $141.2 billion, with the Admiral Shares class comprising $20.23 billion. In recent years, Vanguard shifted the fund's benchmark to the current FTSE index in 2016 to include China A-shares, enhancing exposure to mainland Chinese equities which now represent about 29% of the portfolio; this change broadened diversification while introducing country-specific risks amid geopolitical tensions, such as the 2022 removal of Russian stocks (previously under 3%) following the Russia-Ukraine conflict. The parent firm implemented its largest fee reductions in early 2025 at an estimated cost of $350 million, launched multiple low-cost bond ETFs, and established a dedicated advice and wealth management division amid robust asset inflows rivaling BlackRock; additionally, John Kraynak joined the management team in February 2025, bolstering the stable equity index group. These developments, alongside a turnover rate of 8% and sustained outperformance versus category peers driven by low fees and regional allocations (e.g., Taiwan overweight in 2024), reinforce the fund's position as a cost-efficient emerging markets vehicle.