FIFGX vs. JMIEX

Last updated Jun 9, 2026

FIFGX (Fidelity SAI Inflation-Focused) and JMIEX (JPMorgan Emerging Markets Equity Fund) are both mutual funds - FIFGX is a Commodities fund managed by Fidelity, while JMIEX is a Emerging Markets Diversified fund managed by JPMorgan. Over the past 5 years, FIFGX returned 75.44%/yr vs 4.25%/yr for JMIEX. At a 0.25 correlation, their price movements are largely independent. FIFGX charges 0.39%/yr vs 0.90%/yr for JMIEX.

Performance

FIFGX vs. JMIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Inflation-Focused (FIFGX) and JPMorgan Emerging Markets Equity Fund (JMIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIFGX achieves a 41.10% return, which is significantly higher than JMIEX's 21.49% return.

FIFGX

• 1D: -2.03%
• 1M: -2.86%
• YTD: 41.10%
• 6M: 37.62%
• 1Y: 47.84%
• 3Y*: 150.28%
• 5Y*: 75.44%
• 10Y*: —

JMIEX

• 1D: -6.89%
• 1M: -3.27%
• YTD: 21.49%
• 6M: 23.73%
• 1Y: 49.37%
• 3Y*: 21.90%
• 5Y*: 4.25%
• 10Y*: 10.81%

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

FIFGX vs. JMIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIFGX Fidelity SAI Inflation-Focused	41.10%	7.44%	6.34%	781.04%	9.30%	32.92%	1.48%	9.32%	-2.00%
JMIEX JPMorgan Emerging Markets Equity Fund	21.49%	40.27%	3.48%	7.32%	-25.68%	-10.29%	34.88%	32.04%	1.26%

Correlation

The correlation between FIFGX and JMIEX is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Dec 20, 2018	0.25

The correlation between FIFGX and JMIEX shifts across timeframes, from -0.08 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIFGX vs. JMIEX — Risk / Return Rank

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

FIFGX

FIFGX Risk / Return Rank: 70
FIFGX Sharpe Ratio Rank: 66
FIFGX Sortino Ratio Rank: 54
FIFGX Omega Ratio Rank: 56
FIFGX Calmar Ratio Rank: 97
FIFGX Martin Ratio Rank: 78

JMIEX

JMIEX Risk / Return Rank: 78
JMIEX Sharpe Ratio Rank: 78
JMIEX Sortino Ratio Rank: 60
JMIEX Omega Ratio Rank: 75
JMIEX Calmar Ratio Rank: 87
JMIEX 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.

FIFGX vs. JMIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Inflation-Focused (FIFGX) and JPMorgan Emerging Markets Equity Fund (JMIEX). 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.

	FIFGX	JMIEX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.43	-0.15
Sortino ratio: Return per unit of downside risk	2.92	2.97	-0.05
Omega ratio: Gain probability vs. loss probability	1.39	1.45	-0.06
Calmar ratio: Return relative to maximum drawdown	6.55	4.00	+2.55
Martin ratio: Return relative to average drawdown	13.83	16.46	-2.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIFGX vs. JMIEX - Sharpe Ratio Comparison

The current FIFGX Sharpe Ratio is 2.28, which is comparable to the JMIEX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FIFGX and JMIEX, 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

	FIFGX	JMIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.43	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.22	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.32	-0.17

Drawdowns

FIFGX vs. JMIEX - Drawdown Comparison

The maximum FIFGX drawdown since its inception was -29.47%, smaller than the maximum JMIEX drawdown of -62.02%. Use the drawdown chart below to compare losses from any high point for FIFGX and JMIEX.

Drawdown Indicators

	FIFGX	JMIEX	Difference
Max Drawdown Largest peak-to-trough decline	-29.47%	-62.02%	+32.55%
Max Drawdown (1Y) Largest decline over 1 year	-7.57%	-12.56%	+4.99%
Max Drawdown (3Y) Largest decline over 3 years	-12.25%	-15.06%	+2.81%
Max Drawdown (5Y) Largest decline over 5 years	-29.47%	-44.85%	+15.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.51%	—
Current Drawdown Current decline from peak	-7.57%	-8.69%	+1.12%
Average Drawdown Average peak-to-trough decline	-7.67%	-20.16%	+12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.05%	+0.52%

Volatility

FIFGX vs. JMIEX - Volatility Comparison

The current volatility for Fidelity SAI Inflation-Focused (FIFGX) is 6.41%, while JPMorgan Emerging Markets Equity Fund (JMIEX) has a volatility of 10.43%. This indicates that FIFGX experiences smaller price fluctuations and is considered to be less risky than JMIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIFGX	JMIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	10.43%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	18.54%	17.91%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	21.82%	20.70%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	405.99%	19.48%	+386.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	332.69%	19.56%	+313.13%

FIFGX vs. JMIEX - Expense Ratio Comparison

FIFGX has a 0.39% expense ratio, which is lower than JMIEX's 0.90% expense ratio.

Dividends

FIFGX vs. JMIEX - Dividend Comparison

FIFGX's dividend yield for the trailing twelve months is around 3.86%, more than JMIEX's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIFGX Fidelity SAI Inflation-Focused	3.86%	5.44%	4.73%	1.54%	12.64%	35.77%	3.10%	1.59%	0.00%	0.00%	0.00%	0.00%
JMIEX JPMorgan Emerging Markets Equity Fund	1.12%	1.36%	1.51%	1.56%	0.54%	3.89%	0.14%	0.81%	0.95%	0.44%	0.81%	0.98%

Frequently Asked Questions

Can I hold both FIFGX and JMIEX in my portfolio?

FIFGX and JMIEX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIFGX or JMIEX?

JMIEX has higher volatility (10.43%) compared to FIFGX (6.41%). In terms of maximum drawdown, FIFGX dropped -29.47% vs JMIEX's -62.02%.

Which has better risk-adjusted returns?

JMIEX currently has the higher Sharpe Ratio (2.43 vs 2.28), 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.