CEMVX vs. GERIX

Last updated Jun 23, 2026

CEMVX (Causeway Emerging Markets Investor) and GERIX (Goldman Sachs Emerging Markets Equity Insights Fund) are both Emerging Markets Diversified funds. Over the past 10 years, CEMVX returned 12.02%/yr vs 11.43%/yr for GERIX. Their correlation of 0.95 suggests significant overlap in exposure. CEMVX charges 1.36%/yr vs 1.09%/yr for GERIX.

Performance

CEMVX vs. GERIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Causeway Emerging Markets Investor (CEMVX) and Goldman Sachs Emerging Markets Equity Insights Fund (GERIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEMVX achieves a 36.01% return, which is significantly higher than GERIX's 32.77% return. Both investments have delivered pretty close results over the past 10 years, with CEMVX having a 12.02% annualized return and GERIX not far behind at 11.43%.

CEMVX

• 1D: 1.78%
• 1M: 7.53%
• YTD: 36.01%
• 6M: 38.56%
• 1Y: 65.42%
• 3Y*: 30.19%
• 5Y*: 12.16%
• 10Y*: 12.02%

GERIX

• 1D: 3.27%
• 1M: 7.70%
• YTD: 32.77%
• 6M: 34.94%
• 1Y: 58.39%
• 3Y*: 25.15%
• 5Y*: 9.10%
• 10Y*: 11.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CEMVX vs. GERIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEMVX Causeway Emerging Markets Investor	36.01%	35.92%	14.62%	16.83%	-23.20%	-1.10%	16.73%	16.39%	-18.06%	39.48%
GERIX Goldman Sachs Emerging Markets Equity Insights Fund	32.77%	32.58%	7.76%	12.90%	-21.20%	1.15%	20.65%	13.69%	-16.12%	39.32%

Correlation

The correlation between CEMVX and GERIX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.95

The correlation between CEMVX and GERIX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

CEMVX vs. GERIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CEMVX

CEMVX Risk / Return Rank: 89
CEMVX Sharpe Ratio Rank: 93
CEMVX Sortino Ratio Rank: 79
CEMVX Omega Ratio Rank: 85
CEMVX Calmar Ratio Rank: 93
CEMVX Martin Ratio Rank: 93

GERIX

GERIX Risk / Return Rank: 87
GERIX Sharpe Ratio Rank: 91
GERIX Sortino Ratio Rank: 79
GERIX Omega Ratio Rank: 85
GERIX Calmar Ratio Rank: 90
GERIX Martin Ratio Rank: 90

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.

CEMVX vs. GERIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Causeway Emerging Markets Investor (CEMVX) and Goldman Sachs Emerging Markets Equity Insights Fund (GERIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CEMVX	GERIX	Difference
Sharpe ratio: Return per unit of total volatility	2.89	2.82	+0.08
Sortino ratio: Return per unit of downside risk	3.43	3.45	-0.02
Omega ratio: Gain probability vs. loss probability	1.54	1.53	0.00
Calmar ratio: Return relative to maximum drawdown	4.81	4.39	+0.43
Martin ratio: Return relative to average drawdown	18.13	16.48	+1.65

CEMVX vs. GERIX - Sharpe Ratio Comparison

The current CEMVX Sharpe Ratio is 2.89, which is comparable to the GERIX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of CEMVX and GERIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CEMVX vs. GERIX - Drawdown Comparison

The maximum CEMVX drawdown since its inception was -69.02%, which is greater than GERIX's maximum drawdown of -65.24%. Use the drawdown chart below to compare losses from any high point for CEMVX and GERIX.

Drawdown Indicators

	CEMVX	GERIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.02%	-65.24%	-3.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-13.26%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-18.01%	-16.47%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-36.53%	-37.26%	+0.73%
Max Drawdown (10Y) Largest decline over 10 years	-39.88%	-41.58%	+1.70%
Current Drawdown Current decline from peak	-0.30%	-0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-15.99%	-14.84%	-1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.51%	+0.09%

Volatility

CEMVX vs. GERIX - Volatility Comparison

Causeway Emerging Markets Investor (CEMVX) has a higher volatility of 12.50% compared to Goldman Sachs Emerging Markets Equity Insights Fund (GERIX) at 10.88%. This indicates that CEMVX's price experiences larger fluctuations and is considered to be riskier than GERIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEMVX	GERIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.50%	10.88%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	20.27%	18.39%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	20.64%	+2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.34%	17.27%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	18.00%	+0.69%

CEMVX vs. GERIX - Expense Ratio Comparison

CEMVX has a 1.36% expense ratio, which is higher than GERIX's 1.09% expense ratio.

Dividends

CEMVX vs. GERIX - Dividend Comparison

CEMVX's dividend yield for the trailing twelve months is around 1.66%, which matches GERIX's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEMVX Causeway Emerging Markets Investor	1.66%	2.26%	3.45%	4.55%	4.40%	22.65%	1.18%	1.79%	1.54%	1.36%	1.30%	1.48%
GERIX Goldman Sachs Emerging Markets Equity Insights Fund	1.67%	2.22%	1.38%	3.91%	2.64%	21.39%	1.14%	1.97%	2.25%	5.38%	1.33%	1.34%

Frequently Asked Questions

Can I hold both CEMVX and GERIX in my portfolio?

With a correlation of 0.91, CEMVX and GERIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CEMVX or GERIX?

CEMVX has higher volatility (12.50%) compared to GERIX (10.88%). In terms of maximum drawdown, CEMVX dropped -69.02% vs GERIX's -65.24%.

Which has better risk-adjusted returns?

CEMVX currently has the higher Sharpe Ratio (2.89 vs 2.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.