EMFIX vs. ESIGX

Last updated Jun 4, 2026

EMFIX (Ashmore Emerging Markets Equity Fund) and ESIGX (Ashmore Emerging Markets Equity ESG Fund) are both Emerging Markets Diversified funds from Ashmore. Over the past 5 years, EMFIX returned 7.90%/yr vs 6.77%/yr for ESIGX. With a 0.97 correlation, they move nearly in lockstep. Both charge a 1.17% expense ratio.

Performance

EMFIX vs. ESIGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashmore Emerging Markets Equity Fund (EMFIX) and Ashmore Emerging Markets Equity ESG Fund (ESIGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMFIX achieves a 31.86% return, which is significantly higher than ESIGX's 28.98% return.

EMFIX

• 1D: 0.54%
• 1M: 8.80%
• YTD: 31.86%
• 6M: 35.28%
• 1Y: 63.44%
• 3Y*: 26.15%
• 5Y*: 7.90%
• 10Y*: 14.00%

ESIGX

• 1D: 0.85%
• 1M: 8.23%
• YTD: 28.98%
• 6M: 31.98%
• 1Y: 62.50%
• 3Y*: 24.28%
• 5Y*: 6.77%
• 10Y*: —

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

EMFIX vs. ESIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMFIX Ashmore Emerging Markets Equity Fund	31.86%	35.16%	7.08%	9.68%	-26.09%	4.05%	38.09%
ESIGX Ashmore Emerging Markets Equity ESG Fund	28.98%	34.35%	7.96%	10.61%	-27.17%	-1.02%	45.70%

Correlation

The correlation between EMFIX and ESIGX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020	0.97

The correlation between EMFIX and ESIGX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

EMFIX vs. ESIGX — Risk / Return Rank

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

EMFIX

EMFIX Risk / Return Rank: 91
EMFIX Sharpe Ratio Rank: 96
EMFIX Sortino Ratio Rank: 91
EMFIX Omega Ratio Rank: 88
EMFIX Calmar Ratio Rank: 91
EMFIX Martin Ratio Rank: 90

ESIGX

ESIGX Risk / Return Rank: 91
ESIGX Sharpe Ratio Rank: 96
ESIGX Sortino Ratio Rank: 91
ESIGX Omega Ratio Rank: 88
ESIGX Calmar Ratio Rank: 90
ESIGX Martin Ratio Rank: 90

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.

EMFIX vs. ESIGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashmore Emerging Markets Equity Fund (EMFIX) and Ashmore Emerging Markets Equity ESG Fund (ESIGX). 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.

	EMFIX	ESIGX	Difference
Sharpe ratio: Return per unit of total volatility	3.51	3.57	-0.06
Sortino ratio: Return per unit of downside risk	4.47	4.54	-0.07
Omega ratio: Gain probability vs. loss probability	1.62	1.63	-0.01
Calmar ratio: Return relative to maximum drawdown	4.84	4.73	+0.11
Martin ratio: Return relative to average drawdown	18.11	18.35	-0.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMFIX vs. ESIGX - Sharpe Ratio Comparison

The current EMFIX Sharpe Ratio is 3.51, which is comparable to the ESIGX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of EMFIX and ESIGX, 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

	EMFIX	ESIGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.51	3.57	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.36	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.61	-0.27

Drawdowns

EMFIX vs. ESIGX - Drawdown Comparison

The maximum EMFIX drawdown since its inception was -44.99%, roughly equal to the maximum ESIGX drawdown of -47.21%. Use the drawdown chart below to compare losses from any high point for EMFIX and ESIGX.

Drawdown Indicators

	EMFIX	ESIGX	Difference
Max Drawdown Largest peak-to-trough decline	-44.99%	-47.21%	+2.22%
Max Drawdown (1Y) Largest decline over 1 year	-13.20%	-13.34%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-19.91%	-20.59%	+0.68%
Max Drawdown (5Y) Largest decline over 5 years	-42.41%	-44.76%	+2.35%
Max Drawdown (10Y) Largest decline over 10 years	-43.54%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.94%	-19.83%	+2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	3.43%	+0.09%

Volatility

EMFIX vs. ESIGX - Volatility Comparison

Ashmore Emerging Markets Equity Fund (EMFIX) has a higher volatility of 7.32% compared to Ashmore Emerging Markets Equity ESG Fund (ESIGX) at 6.80%. This indicates that EMFIX's price experiences larger fluctuations and is considered to be riskier than ESIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMFIX	ESIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	6.80%	+0.52%
Volatility (6M) Calculated over the trailing 6-month period	15.10%	14.67%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	18.20%	17.69%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	18.86%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	21.71%	-2.04%

EMFIX vs. ESIGX - Expense Ratio Comparison

Both EMFIX and ESIGX have an expense ratio of 1.17%.

Dividends

EMFIX vs. ESIGX - Dividend Comparison

EMFIX's dividend yield for the trailing twelve months is around 1.25%, less than ESIGX's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMFIX Ashmore Emerging Markets Equity Fund	1.25%	1.65%	0.61%	1.25%	0.82%	22.32%	2.32%	2.16%	0.82%	2.12%	1.00%
ESIGX Ashmore Emerging Markets Equity ESG Fund	1.58%	2.04%	0.51%	0.78%	0.00%	16.52%	0.61%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMFIX and ESIGX in my portfolio?

With a correlation of 0.98, EMFIX and ESIGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EMFIX or ESIGX?

EMFIX has higher volatility (7.32%) compared to ESIGX (6.80%). In terms of maximum drawdown, EMFIX dropped -44.99% vs ESIGX's -47.21%.

Which has better risk-adjusted returns?

ESIGX currently has the higher Sharpe Ratio (3.57 vs 3.51), 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.