DEMAX vs. SIVLX

Last updated Jun 5, 2026

DEMAX (Nomura Emerging Markets Fund Class A) and SIVLX (Seafarer Overseas Value Fund Institutional Class) are both Emerging Markets Equities funds. Both are actively managed. Over the past 5 years, DEMAX returned 25.61%/yr vs 9.50%/yr for SIVLX. A 0.67 correlation means they provide meaningful diversification when combined. DEMAX charges 1.42%/yr vs 1.05%/yr for SIVLX.

Performance

DEMAX vs. SIVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Emerging Markets Fund Class A (DEMAX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEMAX achieves a 112.46% return, which is significantly higher than SIVLX's 8.07% return.

DEMAX

• 1D: -0.09%
• 1M: 21.14%
• YTD: 112.46%
• 6M: 130.68%
• 1Y: 241.79%
• 3Y*: 66.36%
• 5Y*: 25.61%
• 10Y*: 21.47%

SIVLX

• 1D: -0.97%
• 1M: -2.81%
• YTD: 8.07%
• 6M: 8.39%
• 1Y: 27.45%
• 3Y*: 15.59%
• 5Y*: 9.50%
• 10Y*: —

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

DEMAX vs. SIVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEMAX Nomura Emerging Markets Fund Class A	112.46%	86.33%	6.25%	17.34%	-28.85%	-2.32%	25.54%	24.05%	-17.32%	39.31%
SIVLX Seafarer Overseas Value Fund Institutional Class	8.07%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%

Correlation

The correlation between DEMAX and SIVLX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.67

Over the past year, the correlation between DEMAX and SIVLX has dropped to 0.47 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

DEMAX vs. SIVLX — Risk / Return Rank

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

DEMAX

DEMAX Risk / Return Rank: 98
DEMAX Sharpe Ratio Rank: 100
DEMAX Sortino Ratio Rank: 96
DEMAX Omega Ratio Rank: 96
DEMAX Calmar Ratio Rank: 99
DEMAX Martin Ratio Rank: 99

SIVLX

SIVLX Risk / Return Rank: 53
SIVLX Sharpe Ratio Rank: 65
SIVLX Sortino Ratio Rank: 60
SIVLX Omega Ratio Rank: 71
SIVLX Calmar Ratio Rank: 37
SIVLX Martin Ratio Rank: 34

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.

DEMAX vs. SIVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Emerging Markets Fund Class A (DEMAX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). 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.

	DEMAX	SIVLX	Difference
Sharpe ratio: Return per unit of total volatility	6.66	2.33	+4.34
Sortino ratio: Return per unit of downside risk	5.49	3.19	+2.30
Omega ratio: Gain probability vs. loss probability	1.87	1.46	+0.41
Calmar ratio: Return relative to maximum drawdown	12.16	2.25	+9.92
Martin ratio: Return relative to average drawdown	46.22	7.46	+38.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEMAX vs. SIVLX - Sharpe Ratio Comparison

The current DEMAX Sharpe Ratio is 6.66, which is higher than the SIVLX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of DEMAX and SIVLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DEMAX	SIVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.66	2.33	+4.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	0.81	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.77	-0.25

Drawdowns

DEMAX vs. SIVLX - Drawdown Comparison

The maximum DEMAX drawdown since its inception was -63.23%, which is greater than SIVLX's maximum drawdown of -33.09%. Use the drawdown chart below to compare losses from any high point for DEMAX and SIVLX.

Drawdown Indicators

	DEMAX	SIVLX	Difference
Max Drawdown Largest peak-to-trough decline	-63.23%	-33.09%	-30.14%
Max Drawdown (1Y) Largest decline over 1 year	-21.03%	-12.51%	-8.52%
Max Drawdown (3Y) Largest decline over 3 years	-22.75%	-12.51%	-10.24%
Max Drawdown (5Y) Largest decline over 5 years	-44.15%	-16.39%	-27.76%
Max Drawdown (10Y) Largest decline over 10 years	-46.51%	—	—
Current Drawdown Current decline from peak	-0.09%	-6.71%	+6.62%
Average Drawdown Average peak-to-trough decline	-18.75%	-5.60%	-13.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.51%	3.75%	+1.76%

Volatility

DEMAX vs. SIVLX - Volatility Comparison

Nomura Emerging Markets Fund Class A (DEMAX) has a higher volatility of 15.67% compared to Seafarer Overseas Value Fund Institutional Class (SIVLX) at 3.92%. This indicates that DEMAX's price experiences larger fluctuations and is considered to be riskier than SIVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMAX	SIVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.67%	3.92%	+11.75%
Volatility (6M) Calculated over the trailing 6-month period	33.82%	10.42%	+23.40%
Volatility (1Y) Calculated over the trailing 1-year period	38.39%	12.08%	+26.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.33%	11.76%	+13.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.13%	12.60%	+10.53%

DEMAX vs. SIVLX - Expense Ratio Comparison

DEMAX has a 1.42% expense ratio, which is higher than SIVLX's 1.05% expense ratio.

Dividends

DEMAX vs. SIVLX - Dividend Comparison

DEMAX's dividend yield for the trailing twelve months is around 8.95%, more than SIVLX's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMAX Nomura Emerging Markets Fund Class A	8.95%	19.03%	1.74%	2.76%	1.60%	3.16%	0.56%	0.57%	0.34%	1.59%	0.70%	0.03%
SIVLX Seafarer Overseas Value Fund Institutional Class	4.67%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEMAX and SIVLX in my portfolio?

DEMAX and SIVLX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEMAX or SIVLX?

DEMAX has higher volatility (15.67%) compared to SIVLX (3.92%). In terms of maximum drawdown, DEMAX dropped -63.23% vs SIVLX's -33.09%.

Which has better risk-adjusted returns?

DEMAX currently has the higher Sharpe Ratio (6.66 vs 2.33), 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.