GQGPX vs. BADEX

Last updated Apr 1, 2026

Compare and contrast key facts about GQG Partners Emerging Markets Equity Fund (GQGPX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX).

GQGPX is managed by GQG Partners Inc. It was launched on Dec 27, 2016. BADEX is managed by BlackRock. It was launched on Dec 20, 2020.

Performance

GQGPX vs. BADEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG Partners Emerging Markets Equity Fund (GQGPX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX). The values are adjusted to include any dividend payments, if applicable.

GQGPX vs. BADEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GQGPX GQG Partners Emerging Markets Equity Fund	0.45%	9.67%	6.00%	28.47%	-21.01%	-2.52%	1.92%
BADEX BlackRock Defensive Advantage Emerging Markets Fund	-0.28%	13.95%	10.15%	11.67%	-11.34%	4.49%	2.32%

Returns By Period

In the year-to-date period, GQGPX achieves a 0.45% return, which is significantly higher than BADEX's -0.28% return.

GQGPX

• 1D: -0.56%
• 1M: -7.73%
• YTD: 0.45%
• 6M: 4.04%
• 1Y: 10.57%
• 3Y*: 13.32%
• 5Y*: 3.21%
• 10Y*: —

BADEX

• 1D: -0.65%
• 1M: -7.80%
• YTD: -0.28%
• 6M: 2.63%
• 1Y: 10.81%
• 3Y*: 10.26%
• 5Y*: 4.56%
• 10Y*: —

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

GQGPX vs. BADEX - Expense Ratio Comparison

GQGPX has a 1.22% expense ratio, which is higher than BADEX's 1.06% expense ratio.

GQGPX

GQG Partners Emerging Markets Equity Fund

BADEX

BlackRock Defensive Advantage Emerging Markets Fund

Return for Risk

GQGPX vs. BADEX — Risk / Return Rank

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

GQGPX

GQGPX Risk / Return Rank: 37
GQGPX Sharpe Ratio Rank: 41
GQGPX Sortino Ratio Rank: 39
GQGPX Omega Ratio Rank: 32
GQGPX Calmar Ratio Rank: 39
GQGPX Martin Ratio Rank: 33

BADEX

BADEX Risk / Return Rank: 50
BADEX Sharpe Ratio Rank: 59
BADEX Sortino Ratio Rank: 51
BADEX Omega Ratio Rank: 54
BADEX Calmar Ratio Rank: 43
BADEX Martin Ratio Rank: 43

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.

GQGPX vs. BADEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG Partners Emerging Markets Equity Fund (GQGPX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX). 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.

	GQGPX	BADEX	Difference
Sharpe ratio Return per unit of total volatility	0.84	1.07	-0.22
Sortino ratio Return per unit of downside risk	1.21	1.42	-0.21
Omega ratio Gain probability vs. loss probability	1.16	1.21	-0.06
Calmar ratio Return relative to maximum drawdown	1.01	1.10	-0.08
Martin ratio Return relative to average drawdown	3.55	4.45	-0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQGPX vs. BADEX - Sharpe Ratio Comparison

The current GQGPX Sharpe Ratio is 0.84, which is comparable to the BADEX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of GQGPX and BADEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GQGPX	BADEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	1.07	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.46	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.54	-0.03

Correlation

The correlation between GQGPX and BADEX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GQGPX vs. BADEX - Dividend Comparison

GQGPX's dividend yield for the trailing twelve months is around 1.91%, less than BADEX's 7.54% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQGPX GQG Partners Emerging Markets Equity Fund	1.91%	1.91%	1.50%	2.54%	5.52%	3.78%	0.15%	1.06%	0.59%	0.17%
BADEX BlackRock Defensive Advantage Emerging Markets Fund	7.54%	7.52%	2.27%	1.92%	2.43%	7.54%	0.03%	0.00%	0.00%	0.00%

Drawdowns

GQGPX vs. BADEX - Drawdown Comparison

The maximum GQGPX drawdown since its inception was -33.68%, which is greater than BADEX's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for GQGPX and BADEX.

Drawdown Indicators

	GQGPX	BADEX	Difference
Max Drawdown Largest peak-to-trough decline	-33.68%	-21.86%	-11.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.12%	-8.89%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-30.02%	-21.86%	-8.16%
Current Drawdown Current decline from peak	-8.91%	-8.89%	-0.02%
Average Drawdown Average peak-to-trough decline	-11.71%	-5.77%	-5.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	2.19%	+0.41%

Volatility

GQGPX vs. BADEX - Volatility Comparison

GQG Partners Emerging Markets Equity Fund (GQGPX) has a higher volatility of 5.75% compared to BlackRock Defensive Advantage Emerging Markets Fund (BADEX) at 4.93%. This indicates that GQGPX's price experiences larger fluctuations and is considered to be riskier than BADEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQGPX	BADEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	4.93%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	8.86%	7.13%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	10.20%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.71%	9.96%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	10.17%	+5.81%