DRESX vs. EMRSX

Last updated Aug 4, 2026

DRESX (Driehaus Emerging Markets Small Cap Growth Fund) and EMRSX (JPMorgan Emerging Markets Research Enhanced Equity Fund) are both Emerging Markets Equities funds. Over the past 5 years, DRESX returned 5.49%/yr vs 7.27%/yr for EMRSX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. DRESX charges 1.24%/yr vs 0.35%/yr for EMRSX.

Performance

DRESX vs. EMRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Driehaus Emerging Markets Small Cap Growth Fund (DRESX) and JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRESX achieves a 4.11% return, which is significantly lower than EMRSX's 19.19% return.

DRESX

• 1D: 1.44%
• 1M: -8.67%
• 6M: -3.73%
• YTD: 4.11%
• 1Y: 17.57%
• 3Y*: 13.48%
• 5Y*: 5.49%
• 10Y*: 9.10%
• ALL TIME*: 7.56%

EMRSX

• 1D: 1.96%
• 1M: -1.38%
• 6M: 9.68%
• YTD: 19.19%
• 1Y: 39.21%
• 3Y*: 18.98%
• 5Y*: 7.27%
• 10Y*: —
• ALL TIME*: 9.57%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DRESX Driehaus Emerging Markets Small Cap Growth Fund	$0.00	$0.00	$0.00
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	$0.00	$0.00	$0.00

DRESX vs. EMRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DRESX Driehaus Emerging Markets Small Cap Growth Fund	4.11%	24.08%	14.86%	10.30%	-21.17%	15.93%	33.56%	33.70%	-0.83%
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	19.19%	35.27%	6.43%	8.91%	-21.42%	-3.38%	18.56%	21.40%	-1.64%

Correlation

The correlation between DRESX and EMRSX is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Dec 13, 2018	0.78

The correlation between DRESX and EMRSX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

DRESX vs. EMRSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DRESX

DRESX Risk / Return Rank: 22
DRESX Sharpe Ratio Rank: 25
DRESX Sortino Ratio Rank: 24
DRESX Omega Ratio Rank: 26
DRESX Calmar Ratio Rank: 16
DRESX Martin Ratio Rank: 21

EMRSX

EMRSX Risk / Return Rank: 63
EMRSX Sharpe Ratio Rank: 62
EMRSX Sortino Ratio Rank: 50
EMRSX Omega Ratio Rank: 65
EMRSX Calmar Ratio Rank: 78
EMRSX Martin Ratio Rank: 61

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DRESX vs. EMRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Driehaus Emerging Markets Small Cap Growth Fund (DRESX) and JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX). 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.

	DRESX	EMRSX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.62	-0.68
Sortino ratio: Return per unit of downside risk	1.36	2.10	-0.74
Omega ratio: Gain probability vs. loss probability	1.18	1.31	-0.13
Calmar ratio: Return relative to maximum drawdown	0.85	2.66	-1.80
Martin ratio: Return relative to average drawdown	3.08	8.47	-5.39

DRESX vs. EMRSX - Sharpe Ratio Comparison

The current DRESX Sharpe Ratio is 0.94, which is lower than the EMRSX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of DRESX and EMRSX, 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

DRESX vs. EMRSX - Drawdown Comparison

The maximum DRESX drawdown since its inception was -33.38%, smaller than the maximum EMRSX drawdown of -41.28%. Use the drawdown chart below to compare losses from any high point for DRESX and EMRSX.

Drawdown Indicators

	DRESX	EMRSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.38%	-41.28%	+7.90%
Max Drawdown (1Y) Largest decline over 1 year	-20.40%	-14.14%	-6.26%
Max Drawdown (3Y) Largest decline over 3 years	-20.40%	-15.42%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-25.88%	-35.79%	+9.91%
Max Drawdown (10Y) Largest decline over 10 years	-33.38%	—	—
Current Drawdown Current decline from peak	-17.88%	-9.01%	-8.87%
Average Drawdown Average peak-to-trough decline	-9.92%	-15.09%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.63%	4.43%	+1.20%

Volatility

DRESX vs. EMRSX - Volatility Comparison

The current volatility for Driehaus Emerging Markets Small Cap Growth Fund (DRESX) is 7.46%, while JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX) has a volatility of 9.82%. This indicates that DRESX experiences smaller price fluctuations and is considered to be less risky than EMRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRESX	EMRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.46%	9.82%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	21.39%	-4.70%
Volatility (1Y) Calculated over the trailing 1-year period	18.55%	23.26%	-4.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	18.34%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.23%	19.80%	-3.57%

DRESX vs. EMRSX - Expense Ratio Comparison

DRESX has a 1.24% expense ratio, which is higher than EMRSX's 0.35% expense ratio.

Dividends

DRESX vs. EMRSX - Dividend Comparison

DRESX's dividend yield for the trailing twelve months is around 2.16%, less than EMRSX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DRESX Driehaus Emerging Markets Small Cap Growth Fund	2.16%	2.25%	0.68%	1.09%	0.00%	0.04%	0.65%	0.41%	0.00%
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	3.09%	3.68%	2.42%	3.08%	2.48%	5.59%	1.50%	0.94%	0.53%

Frequently Asked Questions

Can I hold both DRESX and EMRSX in my portfolio?

DRESX and EMRSX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRESX or EMRSX?

EMRSX has higher volatility (9.82%) compared to DRESX (7.46%). In terms of maximum drawdown, DRESX dropped -33.38% vs EMRSX's -41.28%.

Which has better risk-adjusted returns?

EMRSX currently has the higher Sharpe Ratio (1.61 vs 0.94), 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.