Foreign Market Funds are tracked in two portfolios. As of this writing, these are experimental funds attempting to select country specific funds in an attempt to beat the Foreign Market indexes. These foreign countries are split into two portfolios, developed markets and emerging markets. Each month performance of the selected country funds in each portfolio is tracked to the performance of its related benchmark fund. The theory is that by looking at a variety of technical and macro indicators, specific country funds can outperform the specified index. Note that an important challenge here is specific country funds have a higher expense ratio than the Vanguard funds, and this expense difference is included in this performance comparison. Below are the two foreign country portfolios:
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