DMAGX vs. GLLSX

Last updated Jun 4, 2026

DMAGX (Driehaus Emerging Markets Opportunities Fund) and GLLSX (abrdn Emerging Markets ex-China Fund) are both Emerging Markets Diversified funds. Over the past 5 years, DMAGX returned 10.65%/yr vs 18.30%/yr for GLLSX. A 0.78 correlation means they provide meaningful diversification when combined. DMAGX charges 0.99%/yr vs 1.23%/yr for GLLSX.

Performance

DMAGX vs. GLLSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Emerging Markets Opportunities Fund (DMAGX) and abrdn Emerging Markets ex-China Fund (GLLSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMAGX achieves a 19.21% return, which is significantly lower than GLLSX's 46.58% return.

DMAGX

• 1D: 0.76%
• 1M: 6.58%
• YTD: 19.21%
• 6M: 19.43%
• 1Y: 36.53%
• 3Y*: 26.63%
• 5Y*: 10.65%
• 10Y*: —

GLLSX

• 1D: 0.17%
• 1M: 11.34%
• YTD: 46.58%
• 6M: 50.65%
• 1Y: 88.61%
• 3Y*: 29.36%
• 5Y*: 18.30%
• 10Y*: 15.05%

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

DMAGX vs. GLLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMAGX Driehaus Emerging Markets Opportunities Fund	19.21%	22.77%	26.16%	19.48%	-18.85%	-1.84%	30.20%	21.64%	-13.22%	21.16%
GLLSX abrdn Emerging Markets ex-China Fund	46.58%	34.81%	0.73%	21.35%	-23.04%	36.50%	15.93%	23.64%	-11.50%	13.60%

Correlation

The correlation between DMAGX and GLLSX 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	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Apr 10, 2017	0.78

The correlation between DMAGX and GLLSX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

Return for Risk

DMAGX vs. GLLSX — Risk / Return Rank

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

DMAGX

DMAGX Risk / Return Rank: 73
DMAGX Sharpe Ratio Rank: 73
DMAGX Sortino Ratio Rank: 65
DMAGX Omega Ratio Rank: 66
DMAGX Calmar Ratio Rank: 80
DMAGX Martin Ratio Rank: 79

GLLSX

GLLSX Risk / Return Rank: 96
GLLSX Sharpe Ratio Rank: 99
GLLSX Sortino Ratio Rank: 94
GLLSX Omega Ratio Rank: 94
GLLSX Calmar Ratio Rank: 96
GLLSX 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.

DMAGX vs. GLLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Opportunities Fund (DMAGX) and abrdn Emerging Markets ex-China Fund (GLLSX). 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.

	DMAGX	GLLSX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	4.14	-1.65
Sortino ratio: Return per unit of downside risk	3.37	4.78	-1.41
Omega ratio: Gain probability vs. loss probability	1.45	1.74	-0.29
Calmar ratio: Return relative to maximum drawdown	3.65	6.17	-2.52
Martin ratio: Return relative to average drawdown	14.88	24.54	-9.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMAGX vs. GLLSX - Sharpe Ratio Comparison

The current DMAGX Sharpe Ratio is 2.49, which is lower than the GLLSX Sharpe Ratio of 4.14. The chart below compares the historical Sharpe Ratios of DMAGX and GLLSX, 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

	DMAGX	GLLSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	4.14	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	1.02	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.69	+0.11

Drawdowns

DMAGX vs. GLLSX - Drawdown Comparison

The maximum DMAGX drawdown since its inception was -34.21%, roughly equal to the maximum GLLSX drawdown of -32.59%. Use the drawdown chart below to compare losses from any high point for DMAGX and GLLSX.

Drawdown Indicators

	DMAGX	GLLSX	Difference
Max Drawdown Largest peak-to-trough decline	-34.21%	-32.59%	-1.62%
Max Drawdown (1Y) Largest decline over 1 year	-10.18%	-14.39%	+4.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.03%	-20.95%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-31.38%	-30.02%	-1.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.59%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.82%	-7.92%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	3.61%	-1.12%

Volatility

DMAGX vs. GLLSX - Volatility Comparison

The current volatility for Driehaus Emerging Markets Opportunities Fund (DMAGX) is 4.96%, while abrdn Emerging Markets ex-China Fund (GLLSX) has a volatility of 9.95%. This indicates that DMAGX experiences smaller price fluctuations and is considered to be less risky than GLLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMAGX	GLLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	9.95%	-4.99%
Volatility (6M) Calculated over the trailing 6-month period	12.22%	19.05%	-6.83%
Volatility (1Y) Calculated over the trailing 1-year period	14.95%	21.43%	-6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	18.09%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	17.80%	-2.32%

DMAGX vs. GLLSX - Expense Ratio Comparison

DMAGX has a 0.99% expense ratio, which is lower than GLLSX's 1.23% expense ratio.

Dividends

DMAGX vs. GLLSX - Dividend Comparison

DMAGX's dividend yield for the trailing twelve months is around 11.74%, more than GLLSX's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMAGX Driehaus Emerging Markets Opportunities Fund	11.74%	13.99%	8.34%	1.45%	2.08%	4.57%	2.34%	1.15%	0.84%	4.91%	0.00%	0.00%
GLLSX abrdn Emerging Markets ex-China Fund	1.28%	1.88%	0.74%	0.77%	29.32%	22.85%	0.00%	3.38%	9.47%	8.40%	1.09%	0.94%

Frequently Asked Questions

Can I hold both DMAGX and GLLSX in my portfolio?

DMAGX and GLLSX 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, DMAGX or GLLSX?

GLLSX has higher volatility (9.95%) compared to DMAGX (4.96%). In terms of maximum drawdown, DMAGX dropped -34.21% vs GLLSX's -32.59%.

Which has better risk-adjusted returns?

GLLSX currently has the higher Sharpe Ratio (4.14 vs 2.49), 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.