DODEX vs. GQGPX

Last updated Apr 2, 2026

Compare and contrast key facts about Dodge & Cox Emerging Markets Stock Fund (DODEX) and GQG Partners Emerging Markets Equity Fund (GQGPX).

DODEX is managed by Dodge & Cox. It was launched on May 10, 2021. GQGPX is managed by GQG Partners Inc. It was launched on Dec 27, 2016.

Performance

DODEX vs. GQGPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Emerging Markets Stock Fund (DODEX) and GQG Partners Emerging Markets Equity Fund (GQGPX). The values are adjusted to include any dividend payments, if applicable.

DODEX vs. GQGPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DODEX Dodge & Cox Emerging Markets Stock Fund	5.97%	38.64%	7.47%	13.37%	-14.91%	-9.57%
GQGPX GQG Partners Emerging Markets Equity Fund	2.09%	9.67%	6.00%	28.47%	-21.01%	-3.33%

Returns By Period

In the year-to-date period, DODEX achieves a 5.97% return, which is significantly higher than GQGPX's 2.09% return.

DODEX

• 1D: 2.05%
• 1M: -7.66%
• YTD: 5.97%
• 6M: 10.10%
• 1Y: 37.89%
• 3Y*: 19.31%
• 5Y*: —
• 10Y*: —

GQGPX

• 1D: 1.63%
• 1M: -4.69%
• YTD: 2.09%
• 6M: 5.19%
• 1Y: 12.31%
• 3Y*: 13.93%
• 5Y*: 3.16%
• 10Y*: —

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

DODEX vs. GQGPX - Expense Ratio Comparison

DODEX has a 0.70% expense ratio, which is lower than GQGPX's 1.22% expense ratio.

GQGPX

GQG Partners Emerging Markets Equity Fund

DODEX

Dodge & Cox Emerging Markets Stock Fund

Return for Risk

DODEX vs. GQGPX — Risk / Return Rank

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

DODEX

DODEX Risk / Return Rank: 95
DODEX Sharpe Ratio Rank: 97
DODEX Sortino Ratio Rank: 94
DODEX Omega Ratio Rank: 94
DODEX Calmar Ratio Rank: 94
DODEX Martin Ratio Rank: 94

GQGPX

GQGPX Risk / Return Rank: 45
GQGPX Sharpe Ratio Rank: 48
GQGPX Sortino Ratio Rank: 46
GQGPX Omega Ratio Rank: 37
GQGPX Calmar Ratio Rank: 52
GQGPX Martin Ratio Rank: 43

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.

DODEX vs. GQGPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Emerging Markets Stock Fund (DODEX) and GQG Partners Emerging Markets Equity Fund (GQGPX). 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.

	DODEX	GQGPX	Difference
Sharpe ratio Return per unit of total volatility	2.52	0.99	+1.53
Sortino ratio Return per unit of downside risk	3.12	1.41	+1.70
Omega ratio Gain probability vs. loss probability	1.49	1.18	+0.30
Calmar ratio Return relative to maximum drawdown	3.21	1.34	+1.86
Martin ratio Return relative to average drawdown	12.57	4.62	+7.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DODEX vs. GQGPX - Sharpe Ratio Comparison

The current DODEX Sharpe Ratio is 2.52, which is higher than the GQGPX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of DODEX and GQGPX, 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

	DODEX	GQGPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	0.99	+1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.52	-0.11

Correlation

The correlation between DODEX and GQGPX is 0.75, 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

DODEX vs. GQGPX - Dividend Comparison

DODEX's dividend yield for the trailing twelve months is around 2.67%, more than GQGPX's 1.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DODEX Dodge & Cox Emerging Markets Stock Fund	2.67%	2.83%	1.94%	1.92%	1.93%	1.38%	0.00%	0.00%	0.00%	0.00%
GQGPX GQG Partners Emerging Markets Equity Fund	1.88%	1.91%	1.50%	2.54%	5.52%	3.78%	0.15%	1.06%	0.59%	0.17%

Drawdowns

DODEX vs. GQGPX - Drawdown Comparison

The maximum DODEX drawdown since its inception was -37.01%, which is greater than GQGPX's maximum drawdown of -33.68%. Use the drawdown chart below to compare losses from any high point for DODEX and GQGPX.

Drawdown Indicators

	DODEX	GQGPX	Difference
Max Drawdown Largest peak-to-trough decline	-37.01%	-33.68%	-3.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-9.12%	-2.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.02%	—
Current Drawdown Current decline from peak	-9.14%	-7.43%	-1.71%
Average Drawdown Average peak-to-trough decline	-13.19%	-11.70%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.65%	+0.38%

Volatility

DODEX vs. GQGPX - Volatility Comparison

Dodge & Cox Emerging Markets Stock Fund (DODEX) has a higher volatility of 7.57% compared to GQG Partners Emerging Markets Equity Fund (GQGPX) at 5.92%. This indicates that DODEX's price experiences larger fluctuations and is considered to be riskier than GQGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DODEX	GQGPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	5.92%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	11.11%	9.00%	+2.11%
Volatility (1Y) Calculated over the trailing 1-year period	15.66%	12.53%	+3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.74%	14.73%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	15.99%	+0.75%