JEMSX vs. DEMCX

Last updated Jun 23, 2026

JEMSX (JPMorgan Emerging Markets Equity Fund Class I) and DEMCX (Nomura Emerging Markets Fund Class C) are both Emerging Markets Equities funds. Over the past 10 years, JEMSX returned 12.06%/yr vs 21.74%/yr for DEMCX. Their correlation of 0.87 suggests significant overlap in exposure. JEMSX charges 0.99%/yr vs 2.17%/yr for DEMCX.

Performance

JEMSX vs. DEMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Equity Fund Class I (JEMSX) and Nomura Emerging Markets Fund Class C (DEMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMSX achieves a 34.95% return, which is significantly lower than DEMCX's 133.75% return. Over the past 10 years, JEMSX has underperformed DEMCX with an annualized return of 12.06%, while DEMCX has yielded a comparatively higher 21.74% annualized return.

JEMSX

• 1D: 3.69%
• 1M: 7.83%
• YTD: 34.95%
• 6M: 37.87%
• 1Y: 67.42%
• 3Y*: 24.42%
• 5Y*: 6.75%
• 10Y*: 12.06%

DEMCX

• 1D: 8.20%
• 1M: 23.60%
• YTD: 133.75%
• 6M: 150.69%
• 1Y: 251.28%
• 3Y*: 67.83%
• 5Y*: 28.09%
• 10Y*: 21.74%

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

JEMSX vs. DEMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEMSX JPMorgan Emerging Markets Equity Fund Class I	34.95%	40.13%	3.39%	7.21%	-25.77%	-10.36%	34.73%	31.96%	-16.02%	42.49%
DEMCX Nomura Emerging Markets Fund Class C	133.75%	84.86%	5.47%	16.47%	-29.38%	-3.05%	24.55%	23.16%	-17.94%	40.59%

Correlation

The correlation between JEMSX and DEMCX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 10, 1996	0.87

The correlation between JEMSX and DEMCX shifts across timeframes, from 0.77 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JEMSX vs. DEMCX — Risk / Return Rank

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

JEMSX

JEMSX Risk / Return Rank: 91
JEMSX Sharpe Ratio Rank: 95
JEMSX Sortino Ratio Rank: 84
JEMSX Omega Ratio Rank: 87
JEMSX Calmar Ratio Rank: 95
JEMSX Martin Ratio Rank: 96

DEMCX

DEMCX Risk / Return Rank: 98
DEMCX Sharpe Ratio Rank: 100
DEMCX Sortino Ratio Rank: 95
DEMCX Omega Ratio Rank: 96
DEMCX Calmar Ratio Rank: 99
DEMCX Martin Ratio Rank: 99

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.

JEMSX vs. DEMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund Class I (JEMSX) and Nomura Emerging Markets Fund Class C (DEMCX). 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.

	JEMSX	DEMCX	Difference
Sharpe ratio: Return per unit of total volatility	3.08	5.72	-2.64
Sortino ratio: Return per unit of downside risk	3.68	4.73	-1.05
Omega ratio: Gain probability vs. loss probability	1.56	1.78	-0.22
Calmar ratio: Return relative to maximum drawdown	5.33	12.22	-6.89
Martin ratio: Return relative to average drawdown	20.96	44.57	-23.61

JEMSX vs. DEMCX - Sharpe Ratio Comparison

The current JEMSX Sharpe Ratio is 3.08, which is lower than the DEMCX Sharpe Ratio of 5.72. The chart below compares the historical Sharpe Ratios of JEMSX and DEMCX, 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

JEMSX vs. DEMCX - Drawdown Comparison

The maximum JEMSX drawdown since its inception was -62.07%, roughly equal to the maximum DEMCX drawdown of -63.54%. Use the drawdown chart below to compare losses from any high point for JEMSX and DEMCX.

Drawdown Indicators

	JEMSX	DEMCX	Difference
Max Drawdown Largest peak-to-trough decline	-62.07%	-63.54%	+1.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-21.11%	+8.54%
Max Drawdown (3Y) Largest decline over 3 years	-15.10%	-23.22%	+8.12%
Max Drawdown (5Y) Largest decline over 5 years	-44.92%	-43.73%	-1.19%
Max Drawdown (10Y) Largest decline over 10 years	-49.59%	-47.21%	-2.38%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-21.66%	-19.60%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	5.77%	-2.58%

Volatility

JEMSX vs. DEMCX - Volatility Comparison

The current volatility for JPMorgan Emerging Markets Equity Fund Class I (JEMSX) is 11.31%, while Nomura Emerging Markets Fund Class C (DEMCX) has a volatility of 25.52%. This indicates that JEMSX experiences smaller price fluctuations and is considered to be less risky than DEMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMSX	DEMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.31%	25.52%	-14.21%
Volatility (6M) Calculated over the trailing 6-month period	19.14%	41.20%	-22.06%
Volatility (1Y) Calculated over the trailing 1-year period	21.78%	45.10%	-23.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	27.51%	-7.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	24.32%	-4.64%

JEMSX vs. DEMCX - Expense Ratio Comparison

JEMSX has a 0.99% expense ratio, which is lower than DEMCX's 2.17% expense ratio.

Dividends

JEMSX vs. DEMCX - Dividend Comparison

JEMSX's dividend yield for the trailing twelve months is around 0.93%, less than DEMCX's 8.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMCX Nomura Emerging Markets Fund Class C	8.76%	20.47%	1.09%	2.03%	0.69%	2.58%	0.61%	0.00%	0.00%	1.03%	0.08%	0.00%
JEMSX JPMorgan Emerging Markets Equity Fund Class I	0.93%	1.26%	1.41%	1.45%	0.37%	3.80%	0.09%	0.76%	0.87%	0.39%	0.66%	0.67%

Frequently Asked Questions

Can I hold both JEMSX and DEMCX in my portfolio?

JEMSX and DEMCX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEMSX or DEMCX?

DEMCX has higher volatility (25.52%) compared to JEMSX (11.31%). In terms of maximum drawdown, JEMSX dropped -62.07% vs DEMCX's -63.54%.

Which has better risk-adjusted returns?

DEMCX currently has the higher Sharpe Ratio (5.72 vs 3.08), 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.