EMRGX vs. SCHE

Last updated Jun 5, 2026

EMRGX (Emerging Markets Growth Fund, Inc.) and SCHE (Schwab Emerging Markets Equity ETF) are both funds - EMRGX is a Emerging Markets Diversified fund managed by T. Rowe Price, while SCHE is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Over the past 10 years, EMRGX returned 9.52%/yr vs 8.77%/yr for SCHE. Their correlation of 0.86 suggests significant overlap in exposure. EMRGX charges 0.76%/yr vs 0.11%/yr for SCHE.

Performance

EMRGX vs. SCHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Emerging Markets Growth Fund, Inc. (EMRGX) and Schwab Emerging Markets Equity ETF (SCHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMRGX achieves a 22.34% return, which is significantly higher than SCHE's 11.88% return. Over the past 10 years, EMRGX has outperformed SCHE with an annualized return of 9.52%, while SCHE has yielded a comparatively lower 8.77% annualized return.

EMRGX

• 1D: -0.77%
• 1M: 6.81%
• YTD: 22.34%
• 6M: 23.47%
• 1Y: 42.23%
• 3Y*: 18.33%
• 5Y*: 3.64%
• 10Y*: 9.52%

SCHE

• 1D: 0.00%
• 1M: 1.78%
• YTD: 11.88%
• 6M: 12.64%
• 1Y: 29.20%
• 3Y*: 18.27%
• 5Y*: 4.94%
• 10Y*: 8.77%

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

EMRGX vs. SCHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMRGX Emerging Markets Growth Fund, Inc.	22.34%	31.55%	1.06%	8.09%	-24.69%	-0.73%	21.56%	23.99%	-14.56%	41.31%
SCHE Schwab Emerging Markets Equity ETF	11.88%	26.54%	10.60%	8.93%	-17.84%	-0.65%	14.49%	20.31%	-13.57%	32.70%

Correlation

The correlation between EMRGX and SCHE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 4, 2014	0.86

The correlation between EMRGX and SCHE has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

Return for Risk

EMRGX vs. SCHE — Risk / Return Rank

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

EMRGX

EMRGX Risk / Return Rank: 76
EMRGX Sharpe Ratio Rank: 86
EMRGX Sortino Ratio Rank: 79
EMRGX Omega Ratio Rank: 78
EMRGX Calmar Ratio Rank: 72
EMRGX Martin Ratio Rank: 66

SCHE

SCHE Risk / Return Rank: 54
SCHE Sharpe Ratio Rank: 54
SCHE Sortino Ratio Rank: 53
SCHE Omega Ratio Rank: 55
SCHE Calmar Ratio Rank: 54
SCHE Martin Ratio Rank: 55

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.

EMRGX vs. SCHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Emerging Markets Growth Fund, Inc. (EMRGX) and Schwab Emerging Markets Equity ETF (SCHE). 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.

	EMRGX	SCHE	Difference
Sharpe ratio: Return per unit of total volatility	2.81	1.81	+1.00
Sortino ratio: Return per unit of downside risk	3.82	2.53	+1.29
Omega ratio: Gain probability vs. loss probability	1.52	1.34	+0.18
Calmar ratio: Return relative to maximum drawdown	3.27	2.60	+0.67
Martin ratio: Return relative to average drawdown	12.81	9.37	+3.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMRGX vs. SCHE - Sharpe Ratio Comparison

The current EMRGX Sharpe Ratio is 2.81, which is higher than the SCHE Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of EMRGX and SCHE, 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

	EMRGX	SCHE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	1.81	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.28	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.45	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.25	+0.07

Drawdowns

EMRGX vs. SCHE - Drawdown Comparison

The maximum EMRGX drawdown since its inception was -42.84%, which is greater than SCHE's maximum drawdown of -36.20%. Use the drawdown chart below to compare losses from any high point for EMRGX and SCHE.

Drawdown Indicators

	EMRGX	SCHE	Difference
Max Drawdown Largest peak-to-trough decline	-42.84%	-36.20%	-6.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.38%	-11.29%	-2.09%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-17.08%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-41.80%	-33.59%	-8.21%
Max Drawdown (10Y) Largest decline over 10 years	-42.84%	-36.20%	-6.64%
Current Drawdown Current decline from peak	-0.77%	-1.45%	+0.68%
Average Drawdown Average peak-to-trough decline	-16.22%	-12.60%	-3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.13%	+0.28%

Volatility

EMRGX vs. SCHE - Volatility Comparison

Emerging Markets Growth Fund, Inc. (EMRGX) and Schwab Emerging Markets Equity ETF (SCHE) have volatilities of 6.03% and 5.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMRGX	SCHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	5.75%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	13.58%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	16.26%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	17.66%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	19.46%	-1.84%

EMRGX vs. SCHE - Expense Ratio Comparison

EMRGX has a 0.76% expense ratio, which is higher than SCHE's 0.11% expense ratio.

Dividends

EMRGX vs. SCHE - Dividend Comparison

EMRGX's dividend yield for the trailing twelve months is around 3.24%, more than SCHE's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMRGX Emerging Markets Growth Fund, Inc.	3.24%	3.96%	0.00%	1.51%	1.34%	11.22%	6.63%	5.89%	2.21%	1.11%	0.00%	0.00%
SCHE Schwab Emerging Markets Equity ETF	2.57%	2.88%	3.03%	3.83%	2.88%	2.86%	2.09%	3.27%	2.64%	2.31%	2.27%	2.50%

Frequently Asked Questions

Can I hold both EMRGX and SCHE in my portfolio?

EMRGX and SCHE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMRGX or SCHE?

EMRGX has higher volatility (6.03%) compared to SCHE (5.75%). In terms of maximum drawdown, EMRGX dropped -42.84% vs SCHE's -36.20%.

Which has better risk-adjusted returns?

EMRGX currently has the higher Sharpe Ratio (2.81 vs 1.81), 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.