EMDIX vs. GMOQX

Last updated Jun 3, 2026

EMDIX (Federated Hermes Emerging Market Debt Fund Institutional Shares) and GMOQX (GMO Emerging Country Debt Fund Class VI) are both Emerging Markets Bonds funds. EMDIX is passively managed, while GMOQX is actively managed. Over the past 3 years, EMDIX returned 12.86%/yr vs 20.00%/yr for GMOQX. Their correlation of 0.83 suggests significant overlap in exposure. EMDIX charges 0.94%/yr vs 0.51%/yr for GMOQX.

Performance

EMDIX vs. GMOQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and GMO Emerging Country Debt Fund Class VI (GMOQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMDIX achieves a 2.73% return, which is significantly lower than GMOQX's 8.37% return.

EMDIX

• 1D: 0.11%
• 1M: 1.16%
• YTD: 2.73%
• 6M: 3.99%
• 1Y: 15.35%
• 3Y*: 12.86%
• 5Y*: 3.54%
• 10Y*: 4.66%

GMOQX

• 1D: -0.04%
• 1M: 1.21%
• YTD: 8.37%
• 6M: 9.29%
• 1Y: 26.99%
• 3Y*: 20.00%
• 5Y*: —
• 10Y*: —

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

EMDIX vs. GMOQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares	2.73%	17.32%	6.31%	14.65%	-16.00%	-3.00%
GMOQX GMO Emerging Country Debt Fund Class VI	8.37%	22.45%	12.60%	17.76%	-16.26%	-2.20%

Correlation

The correlation between EMDIX and GMOQX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 17, 2021	0.83

The correlation between EMDIX and GMOQX has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

Return for Risk

EMDIX vs. GMOQX — Risk / Return Rank

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

EMDIX

EMDIX Risk / Return Rank: 82
EMDIX Sharpe Ratio Rank: 92
EMDIX Sortino Ratio Rank: 94
EMDIX Omega Ratio Rank: 92
EMDIX Calmar Ratio Rank: 66
EMDIX Martin Ratio Rank: 68

GMOQX

GMOQX Risk / Return Rank: 98
GMOQX Sharpe Ratio Rank: 99
GMOQX Sortino Ratio Rank: 99
GMOQX Omega Ratio Rank: 98
GMOQX Calmar Ratio Rank: 97
GMOQX Martin Ratio Rank: 98

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.

EMDIX vs. GMOQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and GMO Emerging Country Debt Fund Class VI (GMOQX). 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.

	EMDIX	GMOQX	Difference
Sharpe ratio Return per unit of total volatility	3.09	5.05	-1.96
Sortino ratio Return per unit of downside risk	4.78	9.04	-4.26
Omega ratio Gain probability vs. loss probability	1.67	2.25	-0.58
Calmar ratio Return relative to maximum drawdown	3.12	7.02	-3.90
Martin ratio Return relative to average drawdown	13.18	30.53	-17.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMDIX vs. GMOQX - Sharpe Ratio Comparison

The current EMDIX Sharpe Ratio is 3.09, which is lower than the GMOQX Sharpe Ratio of 5.05. The chart below compares the historical Sharpe Ratios of EMDIX and GMOQX, 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

	EMDIX	GMOQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.09	5.05	-1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.73	-0.15

Drawdowns

EMDIX vs. GMOQX - Drawdown Comparison

The maximum EMDIX drawdown since its inception was -27.01%, smaller than the maximum GMOQX drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for EMDIX and GMOQX.

Drawdown Indicators

	EMDIX	GMOQX	Difference
Max Drawdown Largest peak-to-trough decline	-27.01%	-31.41%	+4.40%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-3.82%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	-6.35%	-9.02%	+2.67%
Max Drawdown (5Y) Largest decline over 5 years	-27.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.01%	—	—
Current Drawdown Current decline from peak	-0.24%	-0.04%	-0.20%
Average Drawdown Average peak-to-trough decline	-5.67%	-9.72%	+4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	0.88%	+0.47%

Volatility

EMDIX vs. GMOQX - Volatility Comparison

Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) has a higher volatility of 1.68% compared to GMO Emerging Country Debt Fund Class VI (GMOQX) at 1.50%. This indicates that EMDIX's price experiences larger fluctuations and is considered to be riskier than GMOQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMDIX	GMOQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	1.50%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	4.59%	4.37%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	5.47%	5.34%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	10.88%	-4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.62%	10.88%	-4.26%

EMDIX vs. GMOQX - Expense Ratio Comparison

EMDIX has a 0.94% expense ratio, which is higher than GMOQX's 0.51% expense ratio.

Dividends

EMDIX vs. GMOQX - Dividend Comparison

EMDIX's dividend yield for the trailing twelve months is around 1.91%, less than GMOQX's 5.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares	1.91%	0.29%	2.83%	3.13%	5.61%	2.17%	3.71%	2.08%	4.25%	7.78%	3.38%	4.17%
GMOQX GMO Emerging Country Debt Fund Class VI	5.88%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMDIX and GMOQX in my portfolio?

EMDIX and GMOQX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMDIX or GMOQX?

EMDIX has higher volatility (1.68%) compared to GMOQX (1.50%). In terms of maximum drawdown, EMDIX dropped -27.01% vs GMOQX's -31.41%.

Which has better risk-adjusted returns?

GMOQX currently has the higher Sharpe Ratio (5.05 vs 3.09), 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.