FCEEX vs. IJPIX

Last updated Jul 14, 2026

FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) and IJPIX (VY JPMorgan Emerging Markets Equity Portfolio) are both Emerging Markets Diversified funds. Over the past 5 years, FCEEX returned 9.83%/yr vs 5.05%/yr for IJPIX. Their correlation of 0.89 suggests significant overlap in exposure. FCEEX charges 0.17%/yr vs 1.51%/yr for IJPIX.

Performance

FCEEX vs. IJPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) and VY JPMorgan Emerging Markets Equity Portfolio (IJPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEEX achieves a 23.62% return, which is significantly lower than IJPIX's 28.41% return.

FCEEX

• 1D: 0.56%
• 1M: -1.76%
• 6M: 17.22%
• YTD: 23.62%
• 1Y: 41.49%
• 3Y*: 24.55%
• 5Y*: 9.83%
• 10Y*: —

IJPIX

• 1D: 0.23%
• 1M: 0.82%
• 6M: 21.22%
• YTD: 28.41%
• 1Y: 51.79%
• 3Y*: 22.30%
• 5Y*: 5.05%
• 10Y*: 10.45%

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

FCEEX vs. IJPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	23.62%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%
IJPIX VY JPMorgan Emerging Markets Equity Portfolio	28.41%	38.95%	1.91%	6.58%	-26.16%	-10.00%	33.28%	10.69%

Correlation

The correlation between FCEEX and IJPIX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.89

The correlation between FCEEX and IJPIX has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

Return for Risk

FCEEX vs. IJPIX — Risk / Return Rank

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

FCEEX

FCEEX Risk / Return Rank: 75
FCEEX Sharpe Ratio Rank: 75
FCEEX Sortino Ratio Rank: 63
FCEEX Omega Ratio Rank: 75
FCEEX Calmar Ratio Rank: 85
FCEEX Martin Ratio Rank: 80

IJPIX

IJPIX Risk / Return Rank: 89
IJPIX Sharpe Ratio Rank: 91
IJPIX Sortino Ratio Rank: 81
IJPIX Omega Ratio Rank: 84
IJPIX Calmar Ratio Rank: 95
IJPIX Martin Ratio Rank: 95

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.

FCEEX vs. IJPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) and VY JPMorgan Emerging Markets Equity Portfolio (IJPIX). 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.

	FCEEX	IJPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.47	-0.52
Sortino ratio: Return per unit of downside risk	2.48	3.01	-0.53
Omega ratio: Gain probability vs. loss probability	1.37	1.44	-0.07
Calmar ratio: Return relative to maximum drawdown	3.20	4.63	-1.43
Martin ratio: Return relative to average drawdown	11.33	16.80	-5.48

FCEEX vs. IJPIX - Sharpe Ratio Comparison

The current FCEEX Sharpe Ratio is 1.95, which is comparable to the IJPIX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FCEEX and IJPIX, 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

FCEEX vs. IJPIX - Drawdown Comparison

The maximum FCEEX drawdown since its inception was -34.68%, smaller than the maximum IJPIX drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for FCEEX and IJPIX.

Drawdown Indicators

	FCEEX	IJPIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.68%	-64.21%	+29.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-12.53%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-15.42%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	-44.11%	+11.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.88%	—
Current Drawdown Current decline from peak	-5.47%	-5.31%	-0.16%
Average Drawdown Average peak-to-trough decline	-11.15%	-20.06%	+8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	3.30%	+0.35%

Volatility

FCEEX vs. IJPIX - Volatility Comparison

The current volatility for Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) is 10.62%, while VY JPMorgan Emerging Markets Equity Portfolio (IJPIX) has a volatility of 11.19%. This indicates that FCEEX experiences smaller price fluctuations and is considered to be less risky than IJPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEEX	IJPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	11.19%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	19.22%	20.53%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	21.31%	23.47%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	20.13%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	19.78%	-0.96%

FCEEX vs. IJPIX - Expense Ratio Comparison

FCEEX has a 0.17% expense ratio, which is lower than IJPIX's 1.51% expense ratio.

Dividends

FCEEX vs. IJPIX - Dividend Comparison

FCEEX's dividend yield for the trailing twelve months is around 2.38%, less than IJPIX's 20.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	2.38%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%	0.00%	0.00%	0.00%
IJPIX VY JPMorgan Emerging Markets Equity Portfolio	20.15%	25.88%	0.82%	1.67%	42.85%	8.66%	5.75%	5.37%	0.66%	0.40%	1.15%	9.47%

Frequently Asked Questions

Can I hold both FCEEX and IJPIX in my portfolio?

FCEEX and IJPIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCEEX or IJPIX?

IJPIX has higher volatility (11.19%) compared to FCEEX (10.62%). In terms of maximum drawdown, FCEEX dropped -34.68% vs IJPIX's -64.21%.

Which has better risk-adjusted returns?

IJPIX currently has the higher Sharpe Ratio (2.47 vs 1.95), 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.