DEMIX vs. 2328.HK

Last updated Jun 10, 2026

DEMIX (Delaware Emerging Markets Fund) is Emerging Markets Diversified fund managed by Delaware Funds, while 2328.HK (PICC Property & Casualty-H) is a stock. Over the past 10 years, DEMIX returned 19.96%/yr vs 14.77%/yr for 2328.HK. At a 0.33 correlation, their price movements are largely independent.

Performance

DEMIX vs. 2328.HK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Emerging Markets Fund (DEMIX) and PICC Property & Casualty-H (2328.HK). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DEMIX is traded in USD, while 2328.HK is traded in HKD. To make them comparable, the 2328.HK values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DEMIX achieves a 83.98% return, which is significantly higher than 2328.HK's -9.95% return. Over the past 10 years, DEMIX has outperformed 2328.HK with an annualized return of 19.96%, while 2328.HK has yielded a comparatively lower 14.77% annualized return.

DEMIX

• 1D: 0.42%
• 1M: -1.58%
• YTD: 83.98%
• 6M: 95.88%
• 1Y: 188.29%
• 3Y*: 58.22%
• 5Y*: 22.72%
• 10Y*: 19.96%

2328.HK

• 1D: 0.92%
• 1M: -0.40%
• YTD: -9.95%
• 6M: -13.18%
• 1Y: 2.74%
• 3Y*: 22.16%
• 5Y*: 21.40%
• 10Y*: 14.77%

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

DEMIX vs. 2328.HK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEMIX Delaware Emerging Markets Fund	83.98%	86.79%	6.52%	17.59%	-28.66%	-2.08%	26.09%	24.33%	-17.10%	41.98%
2328.HK PICC Property & Casualty-H	-9.95%	38.38%	43.13%	32.75%	23.23%	15.06%	-32.55%	22.32%	23.60%	28.51%

Correlation

The correlation between DEMIX and 2328.HK is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jun 27, 2007	0.33

Over the past year, the correlation between DEMIX and 2328.HK has dropped to 0.08 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.

Return for Risk

DEMIX vs. 2328.HK — Risk / Return Rank

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

DEMIX

DEMIX Risk / Return Rank: 96
DEMIX Sharpe Ratio Rank: 99
DEMIX Sortino Ratio Rank: 91
DEMIX Omega Ratio Rank: 94
DEMIX Calmar Ratio Rank: 99
DEMIX Martin Ratio Rank: 98

2328.HK

2328.HK Risk / Return Rank: 43
2328.HK Sharpe Ratio Rank: 47
2328.HK Sortino Ratio Rank: 41
2328.HK Omega Ratio Rank: 39
2328.HK Calmar Ratio Rank: 45
2328.HK Martin Ratio Rank: 45

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.

DEMIX vs. 2328.HK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Emerging Markets Fund (DEMIX) and PICC Property & Casualty-H (2328.HK). 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.

	DEMIX	2328.HK	Difference
Sharpe ratio: Return per unit of total volatility	4.73	0.10	+4.63
Sortino ratio: Return per unit of downside risk	4.17	0.35	+3.81
Omega ratio: Gain probability vs. loss probability	1.69	1.04	+0.65
Calmar ratio: Return relative to maximum drawdown	9.15	0.10	+9.05
Martin ratio: Return relative to average drawdown	33.95	0.19	+33.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEMIX vs. 2328.HK - Sharpe Ratio Comparison

The current DEMIX Sharpe Ratio is 4.73, which is higher than the 2328.HK Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of DEMIX and 2328.HK, 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

	DEMIX	2328.HK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.73	0.10	+4.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.73	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.45	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.36	+0.16

Drawdowns

DEMIX vs. 2328.HK - Drawdown Comparison

The maximum DEMIX drawdown since its inception was -63.15%, smaller than the maximum 2328.HK drawdown of -89.31%. Use the drawdown chart below to compare losses from any high point for DEMIX and 2328.HK.

Drawdown Indicators

	DEMIX	2328.HK	Difference
Max Drawdown Largest peak-to-trough decline	-63.15%	-89.31%	+26.16%
Max Drawdown (1Y) Largest decline over 1 year	-21.01%	-28.08%	+7.07%
Max Drawdown (3Y) Largest decline over 3 years	-22.62%	-28.08%	+5.46%
Max Drawdown (5Y) Largest decline over 5 years	-43.71%	-28.08%	-15.63%
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	-44.09%	-2.20%
Current Drawdown Current decline from peak	-13.58%	-23.64%	+10.06%
Average Drawdown Average peak-to-trough decline	-18.45%	-25.21%	+6.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	14.37%	-8.73%

Volatility

DEMIX vs. 2328.HK - Volatility Comparison

Delaware Emerging Markets Fund (DEMIX) has a higher volatility of 20.43% compared to PICC Property & Casualty-H (2328.HK) at 7.08%. This indicates that DEMIX's price experiences larger fluctuations and is considered to be riskier than 2328.HK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMIX	2328.HK	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.43%	7.08%	+13.35%
Volatility (6M) Calculated over the trailing 6-month period	36.87%	20.11%	+16.76%
Volatility (1Y) Calculated over the trailing 1-year period	40.72%	27.98%	+12.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	30.27%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.50%	33.69%	-10.19%

Dividends

DEMIX vs. 2328.HK - Dividend Comparison

DEMIX's dividend yield for the trailing twelve months is around 10.31%, more than 2328.HK's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
2328.HK PICC Property & Casualty-H	4.23%	3.83%	6.22%	5.65%	6.41%	7.13%	8.59%	3.29%	3.43%	3.54%	4.46%	3.33%
DEMIX Delaware Emerging Markets Fund	10.31%	18.97%	1.99%	2.95%	1.89%	3.42%	0.87%	0.80%	0.65%	1.80%	0.94%	0.30%

Frequently Asked Questions

Can I hold both DEMIX and 2328.HK in my portfolio?

DEMIX and 2328.HK have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.