ESIGX vs. TEQLX

Last updated Jun 4, 2026

ESIGX (Ashmore Emerging Markets Equity ESG Fund) and TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) are both Emerging Markets Diversified funds. Over the past 5 years, ESIGX returned 6.77%/yr vs 7.91%/yr for TEQLX. Their correlation of 0.90 suggests significant overlap in exposure. ESIGX charges 1.17%/yr vs 0.19%/yr for TEQLX.

Performance

ESIGX vs. TEQLX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with ESIGX having a 28.98% return and TEQLX slightly higher at 30.13%.

ESIGX

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

TEQLX

• 1D: 1.22%
• 1M: 10.66%
• YTD: 30.13%
• 6M: 33.10%
• 1Y: 59.14%
• 3Y*: 24.95%
• 5Y*: 7.91%
• 10Y*: 10.64%

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

ESIGX vs. TEQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESIGX Ashmore Emerging Markets Equity ESG Fund	28.98%	34.35%	7.96%	10.61%	-27.17%	-1.02%	45.70%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	30.13%	34.10%	6.71%	9.23%	-20.22%	-3.07%	26.21%

Correlation

The correlation between ESIGX and TEQLX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020	0.90

The correlation between ESIGX and TEQLX has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

ESIGX vs. TEQLX — Risk / Return Rank

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

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

TEQLX

TEQLX Risk / Return Rank: 90
TEQLX Sharpe Ratio Rank: 95
TEQLX Sortino Ratio Rank: 87
TEQLX Omega Ratio Rank: 88
TEQLX Calmar Ratio Rank: 89
TEQLX Martin Ratio Rank: 89

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. TEQLX - Risk-Adjusted Trends Comparison

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

	ESIGX	TEQLX	Difference
Sharpe ratio: Return per unit of total volatility	3.57	3.33	+0.24
Sortino ratio: Return per unit of downside risk	4.54	4.18	+0.36
Omega ratio: Gain probability vs. loss probability	1.63	1.62	+0.01
Calmar ratio: Return relative to maximum drawdown	4.73	4.50	+0.23
Martin ratio: Return relative to average drawdown	18.35	17.79	+0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESIGX vs. TEQLX - Sharpe Ratio Comparison

The current ESIGX Sharpe Ratio is 3.57, which is comparable to the TEQLX Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of ESIGX and TEQLX, 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

	ESIGX	TEQLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.57	3.33	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.47	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.35	+0.26

Drawdowns

ESIGX vs. TEQLX - Drawdown Comparison

The maximum ESIGX drawdown since its inception was -47.21%, which is greater than TEQLX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for ESIGX and TEQLX.

Drawdown Indicators

	ESIGX	TEQLX	Difference
Max Drawdown Largest peak-to-trough decline	-47.21%	-39.33%	-7.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.34%	-13.32%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-15.97%	-4.62%
Max Drawdown (5Y) Largest decline over 5 years	-44.76%	-37.05%	-7.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.33%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-19.83%	-14.61%	-5.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	3.35%	+0.08%

Volatility

ESIGX vs. TEQLX - Volatility Comparison

The current volatility for Ashmore Emerging Markets Equity ESG Fund (ESIGX) is 6.80%, while TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) has a volatility of 7.75%. This indicates that ESIGX experiences smaller price fluctuations and is considered to be less risky than TEQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESIGX	TEQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	7.75%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	15.43%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	17.69%	17.98%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.86%	16.99%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.71%	17.68%	+4.03%

ESIGX vs. TEQLX - Expense Ratio Comparison

ESIGX has a 1.17% expense ratio, which is higher than TEQLX's 0.19% expense ratio.

Dividends

ESIGX vs. TEQLX - Dividend Comparison

ESIGX's dividend yield for the trailing twelve months is around 1.58%, less than TEQLX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	2.17%	2.83%	2.93%	3.08%	2.51%	2.27%	2.04%	2.77%	2.43%	1.98%	1.88%	2.40%

Frequently Asked Questions

Can I hold both ESIGX and TEQLX in my portfolio?

ESIGX and TEQLX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESIGX or TEQLX?

TEQLX has higher volatility (7.75%) compared to ESIGX (6.80%). In terms of maximum drawdown, ESIGX dropped -47.21% vs TEQLX's -39.33%.

Which has better risk-adjusted returns?

ESIGX currently has the higher Sharpe Ratio (3.57 vs 3.33), 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.