ESIGX vs. EMFIX

Last updated Jun 23, 2026

ESIGX (Ashmore Emerging Markets Equity ESG Fund) and EMFIX (Ashmore Emerging Markets Equity Fund) are both Emerging Markets Diversified funds from Ashmore. Over the past 5 years, ESIGX returned 7.04%/yr vs 7.94%/yr for EMFIX. With a 0.97 correlation, they move nearly in lockstep. Both charge a 1.17% expense ratio.

Performance

ESIGX vs. EMFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, ESIGX achieves a 30.57% return, which is significantly lower than EMFIX's 32.65% return.

ESIGX

• 1D: 2.37%
• 1M: 6.22%
• YTD: 30.57%
• 6M: 33.26%
• 1Y: 61.31%
• 3Y*: 22.57%
• 5Y*: 7.04%
• 10Y*: —

EMFIX

• 1D: 2.34%
• 1M: 5.60%
• YTD: 32.65%
• 6M: 35.12%
• 1Y: 62.00%
• 3Y*: 23.78%
• 5Y*: 7.94%
• 10Y*: 14.10%

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

ESIGX vs. EMFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESIGX Ashmore Emerging Markets Equity ESG Fund	30.57%	34.35%	7.96%	10.61%	-27.17%	-1.02%	45.70%
EMFIX Ashmore Emerging Markets Equity Fund	32.65%	35.16%	7.08%	9.68%	-26.09%	4.05%	37.35%

Correlation

The correlation between ESIGX and EMFIX 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 26, 2020	0.97

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

Return for Risk

ESIGX vs. EMFIX — Risk / Return Rank

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

ESIGX

ESIGX Risk / Return Rank: 90
ESIGX Sharpe Ratio Rank: 95
ESIGX Sortino Ratio Rank: 87
ESIGX Omega Ratio Rank: 86
ESIGX Calmar Ratio Rank: 91
ESIGX Martin Ratio Rank: 91

EMFIX

EMFIX Risk / Return Rank: 90
EMFIX Sharpe Ratio Rank: 95
EMFIX Sortino Ratio Rank: 86
EMFIX Omega Ratio Rank: 86
EMFIX Calmar Ratio Rank: 92
EMFIX Martin Ratio Rank: 91

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.

ESIGX vs. EMFIX - Risk-Adjusted Trends Comparison

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

	ESIGX	EMFIX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	3.07	+0.03
Sortino ratio: Return per unit of downside risk	3.88	3.82	+0.06
Omega ratio: Gain probability vs. loss probability	1.55	1.55	0.00
Calmar ratio: Return relative to maximum drawdown	4.53	4.64	-0.12
Martin ratio: Return relative to average drawdown	16.87	16.77	+0.10

ESIGX vs. EMFIX - Sharpe Ratio Comparison

The current ESIGX Sharpe Ratio is 3.10, which is comparable to the EMFIX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of ESIGX and EMFIX, 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

ESIGX vs. EMFIX - Drawdown Comparison

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

Drawdown Indicators

	ESIGX	EMFIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.21%	-44.99%	-2.22%
Max Drawdown (1Y) Largest decline over 1 year	-13.34%	-13.20%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-19.91%	-0.68%
Max Drawdown (5Y) Largest decline over 5 years	-44.76%	-42.41%	-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	-19.69%	-16.89%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.65%	-0.08%

Volatility

ESIGX vs. EMFIX - Volatility Comparison

Ashmore Emerging Markets Equity ESG Fund (ESIGX) and Ashmore Emerging Markets Equity Fund (EMFIX) have volatilities of 9.18% and 9.45%, 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

	ESIGX	EMFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	9.45%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	16.87%	17.36%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	19.47%	19.98%	-0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.23%	19.29%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.88%	19.81%	+2.07%

ESIGX vs. EMFIX - Expense Ratio Comparison

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

Dividends

ESIGX vs. EMFIX - Dividend Comparison

ESIGX's dividend yield for the trailing twelve months is around 1.33%, more than EMFIX's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMFIX Ashmore Emerging Markets Equity Fund	1.23%	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	1.33%	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 ESIGX and EMFIX in my portfolio?

With a correlation of 0.98, ESIGX and EMFIX 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, ESIGX or EMFIX?

EMFIX has higher volatility (9.45%) compared to ESIGX (9.18%). In terms of maximum drawdown, ESIGX dropped -47.21% vs EMFIX's -44.99%.

Which has better risk-adjusted returns?

ESIGX currently has the higher Sharpe Ratio (3.10 vs 3.07), 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.