JEMSX vs. EMF

Last updated Jun 6, 2026

JEMSX (JPMorgan Emerging Markets Equity Fund Class I) and EMF (Templeton Emerging Markets Fund) are both Emerging Markets Equities funds. Over the past 10 years, JEMSX returned 11.60%/yr vs 14.75%/yr for EMF. A 0.67 correlation means they provide meaningful diversification when combined. JEMSX charges 0.99%/yr vs 1.43%/yr for EMF.

Performance

JEMSX vs. EMF - Performance Comparison

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

Returns By Period

In the year-to-date period, JEMSX achieves a 30.43% return, which is significantly lower than EMF's 33.70% return. Over the past 10 years, JEMSX has underperformed EMF with an annualized return of 11.60%, while EMF has yielded a comparatively higher 14.75% annualized return.

JEMSX

• 1D: -1.06%
• 1M: 2.90%
• YTD: 30.43%
• 6M: 33.41%
• 1Y: 60.96%
• 3Y*: 25.06%
• 5Y*: 5.64%
• 10Y*: 11.60%

EMF

• 1D: -4.54%
• 1M: 1.67%
• YTD: 33.70%
• 6M: 38.57%
• 1Y: 79.70%
• 3Y*: 33.67%
• 5Y*: 10.40%
• 10Y*: 14.75%

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

JEMSX vs. EMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEMSX JPMorgan Emerging Markets Equity Fund Class I	30.43%	40.13%	3.39%	7.21%	-25.77%	-10.36%	34.73%	31.96%	-16.02%	42.49%
EMF Templeton Emerging Markets Fund	33.70%	58.20%	6.56%	8.84%	-21.53%	-8.23%	24.48%	27.20%	-14.78%	53.55%

Correlation

The correlation between JEMSX and EMF is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Nov 16, 1993	0.67

The correlation between JEMSX and EMF shifts across timeframes, from 0.67 (all time) to 0.80 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

JEMSX vs. EMF — Risk / Return Rank

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

JEMSX

JEMSX Risk / Return Rank: 90
JEMSX Sharpe Ratio Rank: 94
JEMSX Sortino Ratio Rank: 85
JEMSX Omega Ratio Rank: 85
JEMSX Calmar Ratio Rank: 92
JEMSX Martin Ratio Rank: 94

EMF

EMF Risk / Return Rank: 89
EMF Sharpe Ratio Rank: 96
EMF Sortino Ratio Rank: 87
EMF Omega Ratio Rank: 88
EMF Calmar Ratio Rank: 87
EMF Martin Ratio Rank: 88

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. EMF - Risk-Adjusted Trends Comparison

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

	JEMSX	EMF	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.44	-0.21
Sortino ratio: Return per unit of downside risk	3.99	4.14	-0.15
Omega ratio: Gain probability vs. loss probability	1.58	1.62	-0.04
Calmar ratio: Return relative to maximum drawdown	4.99	4.11	+0.88
Martin ratio: Return relative to average drawdown	20.86	16.36	+4.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMSX vs. EMF - Sharpe Ratio Comparison

The current JEMSX Sharpe Ratio is 3.23, which is comparable to the EMF Sharpe Ratio of 3.44. The chart below compares the historical Sharpe Ratios of JEMSX and EMF, 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

	JEMSX	EMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	3.44	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.51	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.72	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.23	+0.08

Drawdowns

JEMSX vs. EMF - Drawdown Comparison

The maximum JEMSX drawdown since its inception was -62.07%, smaller than the maximum EMF drawdown of -76.97%. Use the drawdown chart below to compare losses from any high point for JEMSX and EMF.

Drawdown Indicators

	JEMSX	EMF	Difference
Max Drawdown Largest peak-to-trough decline	-62.07%	-76.97%	+14.90%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-19.48%	+6.91%
Max Drawdown (3Y) Largest decline over 3 years	-15.10%	-19.48%	+4.38%
Max Drawdown (5Y) Largest decline over 5 years	-44.92%	-45.38%	+0.46%
Max Drawdown (10Y) Largest decline over 10 years	-49.59%	-47.65%	-1.94%
Current Drawdown Current decline from peak	-1.93%	-7.10%	+5.17%
Average Drawdown Average peak-to-trough decline	-21.68%	-28.99%	+7.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	4.89%	-1.89%

Volatility

JEMSX vs. EMF - Volatility Comparison

The current volatility for JPMorgan Emerging Markets Equity Fund Class I (JEMSX) is 8.16%, while Templeton Emerging Markets Fund (EMF) has a volatility of 9.79%. This indicates that JEMSX experiences smaller price fluctuations and is considered to be less risky than EMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMSX	EMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.16%	9.79%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	20.76%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	19.45%	23.28%	-3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.25%	20.59%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	20.63%	-1.19%

JEMSX vs. EMF - Expense Ratio Comparison

JEMSX has a 0.99% expense ratio, which is lower than EMF's 1.43% expense ratio.

Dividends

JEMSX vs. EMF - Dividend Comparison

JEMSX's dividend yield for the trailing twelve months is around 0.96%, less than EMF's 7.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMF Templeton Emerging Markets Fund	7.36%	9.73%	4.28%	6.22%	9.89%	6.92%	3.51%	7.36%	5.92%	12.11%	1.62%	12.81%
JEMSX JPMorgan Emerging Markets Equity Fund Class I	0.96%	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 EMF in my portfolio?

JEMSX and EMF have a correlation of 0.73, 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 EMF?

EMF has higher volatility (9.79%) compared to JEMSX (8.16%). In terms of maximum drawdown, JEMSX dropped -62.07% vs EMF's -76.97%.

Which has better risk-adjusted returns?

EMF currently has the higher Sharpe Ratio (3.44 vs 3.23), 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.