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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in BlackRock Emerging Markets Fund, Inc., comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
BlackRock Emerging Markets Fund, Inc. (MADCX) has returned -1.26% so far this year and 29.16% over the past 12 months. Over the last ten years, MADCX has returned 8.35% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
BlackRock Emerging Markets Fund, Inc.
- 1D
- -1.02%
- 1M
- -14.25%
- YTD
- -1.26%
- 6M
- 4.27%
- 1Y
- 29.16%
- 3Y*
- 10.44%
- 5Y*
- -0.01%
- 10Y*
- 8.35%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 31, 1989, MADCX's average daily return is +0.03%, while the average monthly return is +0.73%. At this rate, your investment would double in approximately 7.9 years.
Historically, 56% of months were positive and 44% were negative. The best month was May 2009 with a return of +21.3%, while the worst month was Aug 1998 at -31.4%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MADCX closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +14.5%, while the worst single day was Oct 15, 2008 at -13.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.98% | 6.64% | -14.25% | -1.26% | |||||||||
| 2025 | 0.38% | 0.13% | -0.76% | 0.51% | 4.87% | 6.74% | -1.33% | 4.38% | 6.89% | 3.21% | -0.53% | 2.86% | 30.47% |
| 2024 | -4.54% | 2.42% | 3.25% | -0.86% | 0.95% | 2.20% | -0.58% | 0.77% | 3.60% | -3.86% | -3.74% | -0.27% | -1.09% |
| 2023 | 10.19% | -6.89% | 2.14% | -1.03% | -1.04% | 4.94% | 4.27% | -6.19% | -3.26% | -3.37% | 8.25% | 3.88% | 10.77% |
| 2022 | -0.27% | -8.86% | -4.66% | -6.12% | 0.49% | -5.87% | -0.34% | -0.04% | -9.57% | -2.46% | 14.67% | -2.15% | -24.12% |
| 2021 | 3.75% | 4.40% | -2.20% | 1.95% | 0.87% | 1.81% | -6.44% | 1.25% | -4.74% | 2.31% | -4.26% | 0.83% | -1.14% |
Benchmark Metrics
BlackRock Emerging Markets Fund, Inc. has an annualized alpha of 1.36%, beta of 0.73, and R² of 0.46 versus S&P 500 Index. Calculated based on daily prices since September 01, 1989.
- This fund participated in 104.16% of S&P 500 Index downside but only 96.71% of its upside — more exposed to losses than it benefited from rallies.
- R² of 0.46 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.36%
- Beta
- 0.73
- R²
- 0.46
- Upside Capture
- 96.71%
- Downside Capture
- 104.16%
Expense Ratio
MADCX has an expense ratio of 0.86%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MADCX ranks 74 for risk / return — better than 74% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BlackRock Emerging Markets Fund, Inc. (MADCX) and compare them to a chosen benchmark (S&P 500 Index).
| MADCX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.42 | 0.90 | +0.52 |
Sortino ratioReturn per unit of downside risk | 1.88 | 1.39 | +0.50 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.40 | +0.25 |
Martin ratioReturn relative to average drawdown | 7.10 | 6.61 | +0.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MADCX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
BlackRock Emerging Markets Fund, Inc. provided a 4.31% dividend yield over the last twelve months, with an annual payout of $1.25 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.25 | $1.25 | $0.45 | $0.40 | $0.50 | $1.71 | $0.31 | $0.40 | $0.20 | $0.11 | $0.30 | $0.21 |
Dividend yield | 4.31% | 4.26% | 1.90% | 1.67% | 2.22% | 5.72% | 0.97% | 1.53% | 0.98% | 0.48% | 1.82% | 1.34% |
Monthly Dividends
The table displays the monthly dividend distributions for BlackRock Emerging Markets Fund, Inc.. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.00 | $0.00 | $1.16 | $1.25 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.45 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.50 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.33 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $1.71 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BlackRock Emerging Markets Fund, Inc.. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the BlackRock Emerging Markets Fund, Inc. was 66.58%, occurring on Oct 27, 2008. Recovery took 2222 trading sessions.
The current BlackRock Emerging Markets Fund, Inc. drawdown is 15.57%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -66.58% | Nov 1, 2007 | 249 | Oct 27, 2008 | 2222 | Aug 24, 2017 | 2471 |
| -56.92% | Jul 10, 1997 | 297 | Sep 11, 1998 | 1582 | Dec 28, 2004 | 1879 |
| -43.82% | Feb 18, 2021 | 426 | Oct 24, 2022 | 816 | Jan 27, 2026 | 1242 |
| -32.24% | Jan 21, 2020 | 44 | Mar 23, 2020 | 108 | Aug 25, 2020 | 152 |
| -27.17% | Feb 11, 1994 | 270 | Mar 9, 1995 | 492 | Feb 18, 1997 | 762 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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