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CEMFX vs. FERGX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CEMFX vs. FERGX

Last updated Apr 2, 2026

Compare and contrast key facts about Cullen Emerging Markets High Dividend Fund (CEMFX) and Fidelity SAI Emerging Markets Index Fund (FERGX).

CEMFX is managed by Cullen Funds Trust. It was launched on Aug 30, 2012. FERGX is managed by Fidelity. It was launched on Jan 4, 2016.

Performance

CEMFX vs. FERGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen Emerging Markets High Dividend Fund (CEMFX) and Fidelity SAI Emerging Markets Index Fund (FERGX). The values are adjusted to include any dividend payments, if applicable.

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CEMFX vs. FERGX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CEMFX
Cullen Emerging Markets High Dividend Fund		7.09%31.39%9.51%26.45%-16.15%6.74%8.70%19.75%-16.90%28.43%
FERGX
Fidelity SAI Emerging Markets Index Fund		3.35%33.86%6.59%9.41%-20.19%-3.05%17.46%18.22%-14.52%33.62%

Returns By Period

In the year-to-date period, CEMFX achieves a 7.09% return, which is significantly higher than FERGX's 3.35% return.

CEMFX

1D
0.29%
1M
-10.12%
YTD
7.09%
6M
11.76%
1Y
38.29%
3Y*
21.61%
5Y*
10.53%
10Y*
9.60%

FERGX

1D
3.23%
1M
-8.17%
YTD
3.35%
6M
7.00%
1Y
32.37%
3Y*
15.69%
5Y*
3.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Cullen Emerging Markets High Dividend Fund

Fidelity SAI Emerging Markets Index Fund

Often compared with CEMFX:
CEMFX vs. FTECCEMFX vs. KNGCEMFX vs. STAGCEMFX vs. ZEM.TOCEMFX vs. FHKCXCEMFX vs. GQGIXCEMFX vs. MIEIX
Often compared with FERGX:
FERGX vs. FGOMXFERGX vs. EEMFERGX vs. FPADXFERGX vs. VWOFERGX vs. FSISXFERGX vs. IEMGFERGX vs. VFINX

CEMFX vs. FERGX - Expense Ratio Comparison

CEMFX has a 1.00% expense ratio, which is higher than FERGX's 0.08% expense ratio.

CEMFX
Cullen Emerging Markets High Dividend Fund
FERGX
Fidelity SAI Emerging Markets Index Fund

Return for Risk

CEMFX vs. FERGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CEMFX
CEMFX Risk / Return Rank: 9393
Overall Rank
CEMFX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
CEMFX Sortino Ratio Rank: 9494
Sortino Ratio Rank
CEMFX Omega Ratio Rank: 9292
Omega Ratio Rank
CEMFX Calmar Ratio Rank: 9393
Calmar Ratio Rank
CEMFX Martin Ratio Rank: 9191
Martin Ratio Rank
FERGX
FERGX Risk / Return Rank: 8686
Overall Rank
FERGX Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
FERGX Sortino Ratio Rank: 8888
Sortino Ratio Rank
FERGX Omega Ratio Rank: 8585
Omega Ratio Rank
FERGX Calmar Ratio Rank: 8686
Calmar Ratio Rank
FERGX Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEMFX vs. FERGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen Emerging Markets High Dividend Fund (CEMFX) and Fidelity SAI Emerging Markets Index Fund (FERGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

CEMFXFERGXDifference

Sharpe ratio

Return per unit of total volatility

2.37

1.86

+0.51

Sortino ratio

Return per unit of downside risk

2.99

2.45

+0.54

Omega ratio

Gain probability vs. loss probability

1.45

1.36

+0.09

Calmar ratio

Return relative to maximum drawdown

2.99

2.27

+0.72

Martin ratio

Return relative to average drawdown

11.06

9.03

+2.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEMFX vs. FERGX - Sharpe Ratio Comparison

The current CEMFX Sharpe Ratio is 2.37, which is comparable to the FERGX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of CEMFX and FERGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

CEMFXFERGXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.37

1.86

+0.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.75

0.22

+0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.43

+0.03

Correlation

The correlation between CEMFX and FERGX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CEMFX vs. FERGX - Dividend Comparison

CEMFX's dividend yield for the trailing twelve months is around 2.03%, less than FERGX's 2.59% yield.

TTM20252024202320222021202020192018201720162015
CEMFX
Cullen Emerging Markets High Dividend Fund		2.03%1.72%3.31%4.68%1.26%2.62%2.13%4.16%2.26%3.59%3.65%4.60%
FERGX
Fidelity SAI Emerging Markets Index Fund		2.59%2.67%2.40%2.67%2.51%2.90%1.49%2.49%2.58%0.58%0.00%0.00%

Drawdowns

CEMFX vs. FERGX - Drawdown Comparison

The maximum CEMFX drawdown since its inception was -39.30%, roughly equal to the maximum FERGX drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for CEMFX and FERGX.

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Drawdown Indicators

CEMFXFERGXDifference

Max Drawdown

Largest peak-to-trough decline

-39.30%

-39.27%

-0.03%

Max Drawdown (1Y)

Largest decline over 1 year

-12.41%

-13.32%

+0.91%

Max Drawdown (5Y)

Largest decline over 5 years

-28.13%

-37.18%

+9.05%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

—

—

Current Drawdown

Current decline from peak

-12.16%

-10.52%

-1.64%

Average Drawdown

Average peak-to-trough decline

-9.69%

-14.56%

+4.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

3.35%

0.00%

Volatility

CEMFX vs. FERGX - Volatility Comparison

The current volatility for Cullen Emerging Markets High Dividend Fund (CEMFX) is 6.93%, while Fidelity SAI Emerging Markets Index Fund (FERGX) has a volatility of 9.62%. This indicates that CEMFX experiences smaller price fluctuations and is considered to be less risky than FERGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CEMFXFERGXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.93%

9.62%

-2.69%

Volatility (6M)

Calculated over the trailing 6-month period

12.36%

13.68%

-1.32%

Volatility (1Y)

Calculated over the trailing 1-year period

16.39%

17.94%

-1.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.09%

16.84%

-2.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.92%

17.85%

-2.93%