HLMIX vs. HLEMX

Last updated Apr 2, 2026

Compare and contrast key facts about Harding Loevner International Equity Portfolio (HLMIX) and Harding Loevner Emerging Markets Fund (HLEMX).

HLMIX is managed by Harding Loevner. It was launched on May 10, 1994. HLEMX is managed by Harding Loevner. It was launched on Nov 8, 1998.

Performance

HLMIX vs. HLEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harding Loevner International Equity Portfolio (HLMIX) and Harding Loevner Emerging Markets Fund (HLEMX). The values are adjusted to include any dividend payments, if applicable.

HLMIX vs. HLEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLMIX Harding Loevner International Equity Portfolio	2.76%	27.63%	1.18%	15.10%	-20.21%	8.49%	20.33%	25.22%	-13.96%	29.91%
HLEMX Harding Loevner Emerging Markets Fund	0.00%	-34.63%	1.96%	6.77%	-27.69%	-3.43%	13.47%	25.81%	-18.72%	35.22%

Returns By Period

HLMIX

• 1D: 2.65%
• 1M: -6.56%
• YTD: 2.76%
• 6M: 6.09%
• 1Y: 23.54%
• 3Y*: 12.33%
• 5Y*: 5.30%
• 10Y*: 8.92%

HLEMX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HLMIX vs. HLEMX - Expense Ratio Comparison

HLMIX has a 0.79% expense ratio, which is lower than HLEMX's 1.19% expense ratio.

HLEMX

Harding Loevner Emerging Markets Fund

HLMIX

Harding Loevner International Equity Portfolio

Return for Risk

HLMIX vs. HLEMX — Risk / Return Rank

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

HLMIX

HLMIX Risk / Return Rank: 81
HLMIX Sharpe Ratio Rank: 81
HLMIX Sortino Ratio Rank: 80
HLMIX Omega Ratio Rank: 76
HLMIX Calmar Ratio Rank: 84
HLMIX Martin Ratio Rank: 81

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.

HLMIX vs. HLEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harding Loevner International Equity Portfolio (HLMIX) and Harding Loevner Emerging Markets Fund (HLEMX). 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.

	HLMIX	HLEMX	Difference
Sharpe ratio Return per unit of total volatility	1.55	—	—
Sortino ratio Return per unit of downside risk	2.11	—	—
Omega ratio Gain probability vs. loss probability	1.30	—	—
Calmar ratio Return relative to maximum drawdown	2.19	—	—
Martin ratio Return relative to average drawdown	8.41	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HLMIX	HLEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	—	—

Correlation

The correlation between HLMIX and HLEMX is 0.81, 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

HLMIX vs. HLEMX - Dividend Comparison

HLMIX's dividend yield for the trailing twelve months is around 14.54%, while HLEMX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLMIX Harding Loevner International Equity Portfolio	14.54%	14.94%	7.14%	3.79%	2.51%	2.48%	0.75%	1.59%	1.50%	1.64%	0.98%	1.02%
HLEMX Harding Loevner Emerging Markets Fund	0.00%	0.00%	16.56%	3.13%	8.75%	8.53%	0.32%	1.40%	0.89%	0.73%	0.60%	0.56%

Drawdowns

Drawdown Indicators

	HLMIX	HLEMX	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.76%	—	—
Current Drawdown Current decline from peak	-8.07%	—	—
Average Drawdown Average peak-to-trough decline	-12.76%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	—	—

Volatility

Volatility by Period

	HLMIX	HLEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	—	—