JEMDX vs. GMOQX

Last updated Jun 5, 2026

JEMDX (JPMorgan Emerging Markets Debt Fund) and GMOQX (GMO Emerging Country Debt Fund Class VI) are both Emerging Markets Bonds funds. Over the past 3 years, JEMDX returned 10.72%/yr vs 20.06%/yr for GMOQX. Their correlation of 0.87 suggests significant overlap in exposure. JEMDX charges 0.83%/yr vs 0.51%/yr for GMOQX.

Performance

JEMDX vs. GMOQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Debt Fund (JEMDX) and GMO Emerging Country Debt Fund Class VI (GMOQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMDX achieves a 2.14% return, which is significantly lower than GMOQX's 8.55% return.

JEMDX

• 1D: -0.30%
• 1M: 0.64%
• YTD: 2.14%
• 6M: 2.93%
• 1Y: 13.66%
• 3Y*: 10.72%
• 5Y*: 1.88%
• 10Y*: 3.25%

GMOQX

• 1D: -0.16%
• 1M: 1.29%
• YTD: 8.55%
• 6M: 9.19%
• 1Y: 25.84%
• 3Y*: 20.06%
• 5Y*: —
• 10Y*: —

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

JEMDX vs. GMOQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JEMDX JPMorgan Emerging Markets Debt Fund	2.14%	13.87%	7.37%	10.17%	-18.60%	-2.42%
GMOQX GMO Emerging Country Debt Fund Class VI	8.55%	22.45%	12.60%	17.76%	-16.26%	-2.20%

Correlation

The correlation between JEMDX and GMOQX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 17, 2021	0.87

The correlation between JEMDX and GMOQX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

JEMDX vs. GMOQX — Risk / Return Rank

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

JEMDX

JEMDX Risk / Return Rank: 77
JEMDX Sharpe Ratio Rank: 91
JEMDX Sortino Ratio Rank: 92
JEMDX Omega Ratio Rank: 90
JEMDX Calmar Ratio Rank: 54
JEMDX Martin Ratio Rank: 60

GMOQX

GMOQX Risk / Return Rank: 98
GMOQX Sharpe Ratio Rank: 99
GMOQX Sortino Ratio Rank: 99
GMOQX Omega Ratio Rank: 98
GMOQX Calmar Ratio Rank: 97
GMOQX Martin Ratio Rank: 98

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.

JEMDX vs. GMOQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Debt Fund (JEMDX) and GMO Emerging Country Debt Fund Class VI (GMOQX). 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.

	JEMDX	GMOQX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	5.02	-1.99
Sortino ratio: Return per unit of downside risk	4.63	8.97	-4.34
Omega ratio: Gain probability vs. loss probability	1.66	2.24	-0.58
Calmar ratio: Return relative to maximum drawdown	2.78	6.99	-4.21
Martin ratio: Return relative to average drawdown	11.70	30.35	-18.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMDX vs. GMOQX - Sharpe Ratio Comparison

The current JEMDX Sharpe Ratio is 3.02, which is lower than the GMOQX Sharpe Ratio of 5.02. The chart below compares the historical Sharpe Ratios of JEMDX and GMOQX, 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

	JEMDX	GMOQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	5.02	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.73	-0.06

Drawdowns

JEMDX vs. GMOQX - Drawdown Comparison

The maximum JEMDX drawdown since its inception was -38.84%, which is greater than GMOQX's maximum drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for JEMDX and GMOQX.

Drawdown Indicators

	JEMDX	GMOQX	Difference
Max Drawdown Largest peak-to-trough decline	-38.84%	-31.41%	-7.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.14%	-3.82%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-7.10%	-9.02%	+1.92%
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.83%	—	—
Current Drawdown Current decline from peak	-0.65%	-0.16%	-0.49%
Average Drawdown Average peak-to-trough decline	-6.09%	-9.70%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	0.88%	+0.34%

Volatility

JEMDX vs. GMOQX - Volatility Comparison

JPMorgan Emerging Markets Debt Fund (JEMDX) has a higher volatility of 1.70% compared to GMO Emerging Country Debt Fund Class VI (GMOQX) at 1.50%. This indicates that JEMDX's price experiences larger fluctuations and is considered to be riskier than GMOQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMDX	GMOQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	1.50%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	4.38%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	4.73%	5.33%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.92%	10.87%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.14%	10.87%	-3.73%

JEMDX vs. GMOQX - Expense Ratio Comparison

JEMDX has a 0.83% expense ratio, which is higher than GMOQX's 0.51% expense ratio.

Dividends

JEMDX vs. GMOQX - Dividend Comparison

JEMDX's dividend yield for the trailing twelve months is around 5.89%, which matches GMOQX's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOQX GMO Emerging Country Debt Fund Class VI	5.87%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JEMDX JPMorgan Emerging Markets Debt Fund	5.89%	5.61%	6.13%	5.47%	6.15%	4.38%	3.71%	4.52%	4.64%	4.43%	5.06%	4.76%

Frequently Asked Questions

Can I hold both JEMDX and GMOQX in my portfolio?

With a correlation of 0.90, JEMDX and GMOQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JEMDX or GMOQX?

JEMDX has higher volatility (1.70%) compared to GMOQX (1.50%). In terms of maximum drawdown, JEMDX dropped -38.84% vs GMOQX's -31.41%.

Which has better risk-adjusted returns?

GMOQX currently has the higher Sharpe Ratio (5.02 vs 3.02), 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.