VEIEX is an Emerging Market Stock Market Index. The stocks it holds are dissimilar to the stocks held in the Major World Indices that you referenced. Just because the "S&P500" or "Dow Jones" of those foreign countries goes up does not mean that VEIEX will likewise rise.
All emerging market stock index funds will perform similarly, but emerging market (non-index) funds hold stocks in different countries and can perform differently from each other.
AGRAX is not an emerging market fund but a World Stock fund. Over 70% of it's assets are in the US, UK, Japan, France and Germany -- all developed countries.