DEMIX vs. GTDDX

Last updated Jun 24, 2026

DEMIX (Delaware Emerging Markets Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Diversified funds. Over the past 10 years, DEMIX returned 23.71%/yr vs 10.50%/yr for GTDDX. Their correlation of 0.85 suggests significant overlap in exposure. DEMIX charges 1.26%/yr vs 1.39%/yr for GTDDX.

Performance

DEMIX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Emerging Markets Fund (DEMIX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEMIX achieves a 145.11% return, which is significantly higher than GTDDX's 48.50% return. Over the past 10 years, DEMIX has outperformed GTDDX with an annualized return of 23.71%, while GTDDX has yielded a comparatively lower 10.50% annualized return.

DEMIX

• 1D: 4.36%
• 1M: 29.09%
• YTD: 145.11%
• 6M: 162.34%
• 1Y: 271.84%
• 3Y*: 74.82%
• 5Y*: 30.44%
• 10Y*: 23.71%

GTDDX

• 1D: -0.71%
• 1M: 10.82%
• YTD: 48.50%
• 6M: 51.58%
• 1Y: 78.23%
• 3Y*: 24.04%
• 5Y*: 9.03%
• 10Y*: 10.50%

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

DEMIX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEMIX Delaware Emerging Markets Fund	145.11%	86.79%	6.52%	17.59%	-28.66%	-2.08%	26.09%	24.33%	-17.10%	41.98%
GTDDX Invesco EQV Emerging Markets All Cap Fd	48.50%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-18.77%	30.34%

Correlation

The correlation between DEMIX and GTDDX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 10, 1996	0.85

The correlation between DEMIX and GTDDX shifts across timeframes, from 0.74 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DEMIX vs. GTDDX — Risk / Return Rank

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

DEMIX

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

GTDDX

GTDDX Risk / Return Rank: 95
GTDDX Sharpe Ratio Rank: 98
GTDDX Sortino Ratio Rank: 93
GTDDX Omega Ratio Rank: 93
GTDDX Calmar Ratio Rank: 95
GTDDX Martin Ratio Rank: 95

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. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Emerging Markets Fund (DEMIX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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.

	DEMIX	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	6.06	3.72	+2.34
Sortino ratio: Return per unit of downside risk	4.89	4.42	+0.47
Omega ratio: Gain probability vs. loss probability	1.81	1.67	+0.14
Calmar ratio: Return relative to maximum drawdown	13.05	5.51	+7.54
Martin ratio: Return relative to average drawdown	47.63	20.80	+26.83

DEMIX vs. GTDDX - Sharpe Ratio Comparison

The current DEMIX Sharpe Ratio is 6.06, which is higher than the GTDDX Sharpe Ratio of 3.72. The chart below compares the historical Sharpe Ratios of DEMIX and GTDDX, 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

DEMIX vs. GTDDX - Drawdown Comparison

The maximum DEMIX drawdown since its inception was -63.15%, roughly equal to the maximum GTDDX drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for DEMIX and GTDDX.

Drawdown Indicators

	DEMIX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-63.15%	-62.89%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-21.01%	-14.49%	-6.52%
Max Drawdown (3Y) Largest decline over 3 years	-22.62%	-16.08%	-6.54%
Max Drawdown (5Y) Largest decline over 5 years	-42.96%	-36.93%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	-39.58%	-6.71%
Current Drawdown Current decline from peak	0.00%	-0.97%	+0.97%
Average Drawdown Average peak-to-trough decline	-18.43%	-18.72%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.74%	3.82%	+1.92%

Volatility

DEMIX vs. GTDDX - Volatility Comparison

Delaware Emerging Markets Fund (DEMIX) has a higher volatility of 25.62% compared to Invesco EQV Emerging Markets All Cap Fd (GTDDX) at 11.57%. This indicates that DEMIX's price experiences larger fluctuations and is considered to be riskier than GTDDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMIX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.62%	11.57%	+14.05%
Volatility (6M) Calculated over the trailing 6-month period	41.21%	19.24%	+21.97%
Volatility (1Y) Calculated over the trailing 1-year period	45.34%	21.49%	+23.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.58%	16.93%	+10.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.36%	17.15%	+7.21%

DEMIX vs. GTDDX - Expense Ratio Comparison

DEMIX has a 1.26% expense ratio, which is lower than GTDDX's 1.39% expense ratio.

Dividends

DEMIX vs. GTDDX - Dividend Comparison

DEMIX's dividend yield for the trailing twelve months is around 7.74%, less than GTDDX's 14.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMIX Delaware Emerging Markets Fund	7.74%	18.97%	1.99%	2.95%	1.89%	3.42%	0.87%	0.80%	0.65%	1.80%	0.94%	0.30%
GTDDX Invesco EQV Emerging Markets All Cap Fd	14.23%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%

Frequently Asked Questions

Can I hold both DEMIX and GTDDX in my portfolio?

DEMIX and GTDDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEMIX or GTDDX?

DEMIX has higher volatility (25.62%) compared to GTDDX (11.57%). In terms of maximum drawdown, DEMIX dropped -63.15% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

DEMIX currently has the higher Sharpe Ratio (6.06 vs 3.72), 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.