JEMSX vs. GMAQX
JEMSX (JPMorgan Emerging Markets Equity Fund Class I) and GMAQX (GMO Emerging Markets ex-China Fund) are both Emerging Markets Equities funds. Over the past 3 years, JEMSX returned 22.40%/yr vs 29.71%/yr for GMAQX. Their correlation of 0.82 means they have usually moved in the same direction. JEMSX charges 0.99%/yr vs 0.67%/yr for GMAQX.
Performance
JEMSX vs. GMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, JEMSX achieves a 26.47% return, which is significantly lower than GMAQX's 45.00% return.
JEMSX
- 1D
- 1.82%
- 1M
- -3.82%
- 6M
- 15.49%
- YTD
- 26.47%
- 1Y
- 49.84%
- 3Y*
- 22.40%
- 5Y*
- 5.78%
- 10Y*
- 10.20%
- ALL TIME*
- 6.06%
GMAQX
- 1D
- 2.56%
- 1M
- -1.77%
- 6M
- 29.56%
- YTD
- 45.00%
- 1Y
- 66.76%
- 3Y*
- 29.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
JEMSX vs. GMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JEMSX JPMorgan Emerging Markets Equity Fund Class I | 26.47% | 40.13% | 3.39% | 7.21% | -25.77% | -7.29% |
GMAQX GMO Emerging Markets ex-China Fund | 45.00% | 32.09% | 0.62% | 27.41% | -32.38% | 0.47% |
Correlation
The correlation between JEMSX and GMAQX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2021 | 0.82 |
The correlation between JEMSX and GMAQX has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
JEMSX vs. GMAQX — Risk / Return Rank
JEMSX
GMAQX
JEMSX vs. GMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund Class I (JEMSX) and GMO Emerging Markets ex-China Fund (GMAQX). 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 | GMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.52 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 4.13 | -0.77 |
| Martin ratioReturn relative to average drawdown | 11.67 | 12.91 | -1.24 |
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Drawdowns
JEMSX vs. GMAQX - Drawdown Comparison
The maximum JEMSX drawdown since its inception was -62.07%, which is greater than GMAQX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for JEMSX and GMAQX.
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Drawdown Indicators
| JEMSX | GMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.07% | -41.97% | -20.10% |
Max Drawdown (1Y)Largest decline over 1 year | -14.85% | -16.27% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -19.64% | +4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -43.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.59% | — | — |
Current DrawdownCurrent decline from peak | -7.22% | -8.20% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -21.60% | -16.44% | -5.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 5.20% | -0.92% |
Volatility
JEMSX vs. GMAQX - Volatility Comparison
JPMorgan Emerging Markets Equity Fund Class I (JEMSX) has a higher volatility of 9.97% compared to GMO Emerging Markets ex-China Fund (GMAQX) at 9.21%. This indicates that JEMSX's price experiences larger fluctuations and is considered to be riskier than GMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JEMSX | GMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.97% | 9.21% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 22.51% | 23.97% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.84% | 25.54% | -0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.26% | 18.32% | +1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 18.32% | +1.61% |
JEMSX vs. GMAQX - Expense Ratio Comparison
JEMSX has a 0.99% expense ratio, which is higher than GMAQX's 0.67% expense ratio.
Dividends
JEMSX vs. GMAQX - Dividend Comparison
JEMSX's dividend yield for the trailing twelve months is around 0.99%, less than GMAQX's 11.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMAQX GMO Emerging Markets ex-China Fund | 11.40% | 9.43% | 32.28% | 6.76% | 4.94% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JEMSX JPMorgan Emerging Markets Equity Fund Class I | 0.99% | 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
JEMSX and GMAQX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JEMSX has higher volatility (9.97%) compared to GMAQX (9.21%). In terms of maximum drawdown, JEMSX dropped -62.07% vs GMAQX's -41.97%.
GMAQX currently has the higher Sharpe Ratio (2.63 vs 2.02), 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.
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