Re: Vanguard Emerging Mkt Index different from benchmark index?
Index funds DO often meander from their indexes. You may find in the prospecti a statement that the fund manager 'samples' stocks from the index to closely match the index without overowning small or deemed irrelevant stocks. In certain cases, should index managers actually own the requisite shares in every requisite company, there might not be enough shares to go around.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.