DEMIX vs. EMEQ

Last updated Apr 1, 2026

Compare and contrast key facts about Delaware Emerging Markets Fund (DEMIX) and Nomura Focused Emerging Markets Equity ETF (EMEQ).

DEMIX is managed by Delaware Funds. It was launched on Jun 9, 1996. EMEQ is an actively managed fund by Nomura. It was launched on Sep 4, 2024.

Performance

DEMIX vs. EMEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Emerging Markets Fund (DEMIX) and Nomura Focused Emerging Markets Equity ETF (EMEQ). The values are adjusted to include any dividend payments, if applicable.

DEMIX vs. EMEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DEMIX Delaware Emerging Markets Fund	13.36%	86.79%	-2.95%
EMEQ Nomura Focused Emerging Markets Equity ETF	12.19%	69.78%	-1.16%

Returns By Period

In the year-to-date period, DEMIX achieves a 13.36% return, which is significantly higher than EMEQ's 12.19% return.

DEMIX

• 1D: 0.99%
• 1M: -18.24%
• YTD: 13.36%
• 6M: 43.46%
• 1Y: 104.80%
• 3Y*: 35.24%
• 5Y*: 12.50%
• 10Y*: 14.40%

EMEQ

• 1D: 4.30%
• 1M: -13.54%
• YTD: 12.19%
• 6M: 30.58%
• 1Y: 80.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEMIX vs. EMEQ - Expense Ratio Comparison

DEMIX has a 1.26% expense ratio, which is higher than EMEQ's 0.86% expense ratio.

DEMIX

Delaware Emerging Markets Fund

EMEQ

Nomura Focused Emerging Markets Equity ETF

Return for Risk

DEMIX vs. EMEQ — Risk / Return Rank

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

DEMIX

DEMIX Risk / Return Rank: 97
DEMIX Sharpe Ratio Rank: 98
DEMIX Sortino Ratio Rank: 95
DEMIX Omega Ratio Rank: 95
DEMIX Calmar Ratio Rank: 98
DEMIX Martin Ratio Rank: 98

EMEQ

EMEQ Risk / Return Rank: 96
EMEQ Sharpe Ratio Rank: 97
EMEQ Sortino Ratio Rank: 96
EMEQ Omega Ratio Rank: 95
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 96

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. EMEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Emerging Markets Fund (DEMIX) and Nomura Focused Emerging Markets Equity ETF (EMEQ). 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	EMEQ	Difference
Sharpe ratio Return per unit of total volatility	3.11	2.72	+0.40
Sortino ratio Return per unit of downside risk	3.29	3.21	+0.07
Omega ratio Gain probability vs. loss probability	1.51	1.47	+0.04
Calmar ratio Return relative to maximum drawdown	4.81	4.46	+0.34
Martin ratio Return relative to average drawdown	18.57	18.19	+0.38
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. EMEQ - Sharpe Ratio Comparison

The current DEMIX Sharpe Ratio is 3.11, which is comparable to the EMEQ Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of DEMIX and EMEQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DEMIX	EMEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	2.72	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.83	-1.38

Correlation

The correlation between DEMIX and EMEQ is 0.81, 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

DEMIX vs. EMEQ - Dividend Comparison

DEMIX's dividend yield for the trailing twelve months is around 16.74%, more than EMEQ's 2.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMIX Delaware Emerging Markets Fund	16.74%	18.97%	1.99%	2.95%	1.89%	3.42%	0.87%	0.80%	0.65%	1.80%	0.94%	0.30%
EMEQ Nomura Focused Emerging Markets Equity ETF	2.46%	2.76%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

DEMIX vs. EMEQ - Drawdown Comparison

The maximum DEMIX drawdown since its inception was -63.15%, which is greater than EMEQ's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for DEMIX and EMEQ.

Drawdown Indicators

	DEMIX	EMEQ	Difference
Max Drawdown Largest peak-to-trough decline	-63.15%	-19.99%	-43.16%
Max Drawdown (1Y) Largest decline over 1 year	-20.32%	-17.91%	-2.41%
Max Drawdown (5Y) Largest decline over 5 years	-43.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	—	—
Current Drawdown Current decline from peak	-19.53%	-14.38%	-5.15%
Average Drawdown Average peak-to-trough decline	-18.54%	-4.07%	-14.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	4.40%	+0.86%

Volatility

DEMIX vs. EMEQ - Volatility Comparison

Delaware Emerging Markets Fund (DEMIX) has a higher volatility of 19.15% compared to Nomura Focused Emerging Markets Equity ETF (EMEQ) at 17.37%. This indicates that DEMIX's price experiences larger fluctuations and is considered to be riskier than EMEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMIX	EMEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.15%	17.37%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	28.50%	23.87%	+4.63%
Volatility (1Y) Calculated over the trailing 1-year period	33.36%	29.84%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.11%	27.51%	-4.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	27.51%	-5.57%