HERIX vs. EFEIX

Last updated Jun 24, 2026

HERIX (Hartford Emerging Markets Equity Fund) and EFEIX (Ashmore Emerging Markets Frontier Equity Fund) are both Emerging Markets Diversified funds. Over the past 10 years, HERIX returned 11.96%/yr vs 7.40%/yr for EFEIX. A 0.54 correlation means they provide meaningful diversification when combined. HERIX charges 1.16%/yr vs 1.52%/yr for EFEIX.

Performance

HERIX vs. EFEIX - Performance Comparison

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

Returns By Period

In the year-to-date period, HERIX achieves a 31.96% return, which is significantly higher than EFEIX's 4.24% return. Over the past 10 years, HERIX has outperformed EFEIX with an annualized return of 11.96%, while EFEIX has yielded a comparatively lower 7.40% annualized return.

HERIX

• 1D: 0.19%
• 1M: 7.01%
• YTD: 31.96%
• 6M: 33.24%
• 1Y: 54.90%
• 3Y*: 26.87%
• 5Y*: 10.17%
• 10Y*: 11.96%

EFEIX

• 1D: -0.71%
• 1M: 2.35%
• YTD: 4.24%
• 6M: 4.24%
• 1Y: 19.31%
• 3Y*: 17.98%
• 5Y*: 9.21%
• 10Y*: 7.40%

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

HERIX vs. EFEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HERIX Hartford Emerging Markets Equity Fund	31.96%	29.11%	10.97%	16.56%	-21.76%	5.58%	10.12%	18.67%	-16.04%	41.83%
EFEIX Ashmore Emerging Markets Frontier Equity Fund	4.24%	20.69%	24.12%	10.60%	-15.91%	24.18%	-4.12%	14.07%	-18.04%	19.28%

Correlation

The correlation between HERIX and EFEIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 5, 2013	0.54

The correlation between HERIX and EFEIX has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

Return for Risk

HERIX vs. EFEIX — Risk / Return Rank

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

HERIX

HERIX Risk / Return Rank: 87
HERIX Sharpe Ratio Rank: 91
HERIX Sortino Ratio Rank: 80
HERIX Omega Ratio Rank: 85
HERIX Calmar Ratio Rank: 90
HERIX Martin Ratio Rank: 88

EFEIX

EFEIX Risk / Return Rank: 32
EFEIX Sharpe Ratio Rank: 37
EFEIX Sortino Ratio Rank: 38
EFEIX Omega Ratio Rank: 40
EFEIX Calmar Ratio Rank: 25
EFEIX Martin Ratio Rank: 21

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.

HERIX vs. EFEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Emerging Markets Equity Fund (HERIX) and Ashmore Emerging Markets Frontier Equity Fund (EFEIX). 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.

	HERIX	EFEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	1.63	+1.18
Sortino ratio: Return per unit of downside risk	3.47	2.40	+1.07
Omega ratio: Gain probability vs. loss probability	1.53	1.32	+0.22
Calmar ratio: Return relative to maximum drawdown	4.35	1.72	+2.63
Martin ratio: Return relative to average drawdown	15.88	4.95	+10.93

HERIX vs. EFEIX - Sharpe Ratio Comparison

The current HERIX Sharpe Ratio is 2.81, which is higher than the EFEIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of HERIX and EFEIX, 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

HERIX vs. EFEIX - Drawdown Comparison

The maximum HERIX drawdown since its inception was -39.70%, roughly equal to the maximum EFEIX drawdown of -40.50%. Use the drawdown chart below to compare losses from any high point for HERIX and EFEIX.

Drawdown Indicators

	HERIX	EFEIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.70%	-40.50%	+0.80%
Max Drawdown (1Y) Largest decline over 1 year	-12.78%	-11.62%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-11.62%	-4.94%
Max Drawdown (5Y) Largest decline over 5 years	-35.44%	-20.83%	-14.61%
Max Drawdown (10Y) Largest decline over 10 years	-39.70%	-40.50%	+0.80%
Current Drawdown Current decline from peak	0.00%	-3.21%	+3.21%
Average Drawdown Average peak-to-trough decline	-12.62%	-12.25%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	4.02%	-0.53%

Volatility

HERIX vs. EFEIX - Volatility Comparison

Hartford Emerging Markets Equity Fund (HERIX) has a higher volatility of 10.18% compared to Ashmore Emerging Markets Frontier Equity Fund (EFEIX) at 4.00%. This indicates that HERIX's price experiences larger fluctuations and is considered to be riskier than EFEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERIX	EFEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.18%	4.00%	+6.18%
Volatility (6M) Calculated over the trailing 6-month period	17.64%	10.56%	+7.08%
Volatility (1Y) Calculated over the trailing 1-year period	19.85%	12.25%	+7.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	10.08%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	11.07%	+6.62%

HERIX vs. EFEIX - Expense Ratio Comparison

HERIX has a 1.16% expense ratio, which is lower than EFEIX's 1.52% expense ratio.

Dividends

HERIX vs. EFEIX - Dividend Comparison

HERIX's dividend yield for the trailing twelve months is around 4.07%, less than EFEIX's 10.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFEIX Ashmore Emerging Markets Frontier Equity Fund	10.52%	11.69%	2.15%	2.26%	0.17%	1.61%	0.96%	1.63%	1.44%	0.88%	0.38%	0.00%
HERIX Hartford Emerging Markets Equity Fund	4.07%	5.37%	0.00%	3.82%	3.73%	2.17%	1.14%	3.16%	2.26%	1.57%	1.44%	4.09%

Frequently Asked Questions

Can I hold both HERIX and EFEIX in my portfolio?

HERIX and EFEIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HERIX or EFEIX?

HERIX has higher volatility (10.18%) compared to EFEIX (4.00%). In terms of maximum drawdown, HERIX dropped -39.70% vs EFEIX's -40.50%.

Which has better risk-adjusted returns?

HERIX currently has the higher Sharpe Ratio (2.81 vs 1.63), 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.