JEMSX vs. GQGIX

Last updated Jun 6, 2026

JEMSX (JPMorgan Emerging Markets Equity Fund Class I) and GQGIX (GQG Partners Emerging Markets Equity Fund Institutional Shares) are both Emerging Markets Equities funds. Over the past 5 years, JEMSX returned 5.64%/yr vs 3.13%/yr for GQGIX. Their correlation of 0.82 suggests significant overlap in exposure. JEMSX charges 0.99%/yr vs 0.98%/yr for GQGIX.

Performance

JEMSX vs. GQGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Equity Fund Class I (JEMSX) and GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX). 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 higher than GQGIX's 6.07% 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%

GQGIX

• 1D: -0.26%
• 1M: -4.45%
• YTD: 6.07%
• 6M: 7.25%
• 1Y: 13.84%
• 3Y*: 13.19%
• 5Y*: 3.13%
• 10Y*: —

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

JEMSX vs. GQGIX - 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%	41.15%
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	6.07%	9.92%	6.19%	28.81%	-20.85%	-2.37%	33.98%	21.08%	-14.70%	30.20%

Correlation

The correlation between JEMSX and GQGIX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.82

The correlation between JEMSX and GQGIX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

JEMSX vs. GQGIX — 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

GQGIX

GQGIX Risk / Return Rank: 21
GQGIX Sharpe Ratio Rank: 20
GQGIX Sortino Ratio Rank: 20
GQGIX Omega Ratio Rank: 20
GQGIX Calmar Ratio Rank: 20
GQGIX Martin Ratio Rank: 22

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. GQGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund Class I (JEMSX) and GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX). 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	GQGIX	Difference
Sharpe ratio: Return per unit of total volatility	3.23	1.25	+1.98
Sortino ratio: Return per unit of downside risk	3.99	1.82	+2.17
Omega ratio: Gain probability vs. loss probability	1.58	1.22	+0.35
Calmar ratio: Return relative to maximum drawdown	4.99	1.56	+3.43
Martin ratio: Return relative to average drawdown	20.86	5.24	+15.62
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. GQGIX - Sharpe Ratio Comparison

The current JEMSX Sharpe Ratio is 3.23, which is higher than the GQGIX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of JEMSX and GQGIX, 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	GQGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	1.25	+1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.21	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.56	-0.25

Drawdowns

JEMSX vs. GQGIX - Drawdown Comparison

The maximum JEMSX drawdown since its inception was -62.07%, which is greater than GQGIX's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for JEMSX and GQGIX.

Drawdown Indicators

	JEMSX	GQGIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.07%	-33.50%	-28.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-9.11%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.10%	-18.74%	+3.64%
Max Drawdown (5Y) Largest decline over 5 years	-44.92%	-29.74%	-15.18%
Max Drawdown (10Y) Largest decline over 10 years	-49.59%	—	—
Current Drawdown Current decline from peak	-1.93%	-4.45%	+2.52%
Average Drawdown Average peak-to-trough decline	-21.68%	-11.37%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.71%	+0.29%

Volatility

JEMSX vs. GQGIX - Volatility Comparison

JPMorgan Emerging Markets Equity Fund Class I (JEMSX) has a higher volatility of 8.16% compared to GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) at 3.39%. This indicates that JEMSX's price experiences larger fluctuations and is considered to be riskier than GQGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMSX	GQGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.16%	3.39%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	9.61%	+6.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.45%	11.43%	+8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.25%	14.71%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	15.93%	+3.51%

JEMSX vs. GQGIX - Expense Ratio Comparison

JEMSX has a 0.99% expense ratio, which is higher than GQGIX's 0.98% expense ratio.

Dividends

JEMSX vs. GQGIX - Dividend Comparison

JEMSX's dividend yield for the trailing twelve months is around 0.96%, less than GQGIX's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	2.00%	2.13%	1.70%	2.71%	5.67%	3.91%	0.24%	1.16%	0.81%	0.25%	0.00%	0.00%
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 GQGIX in my portfolio?

JEMSX and GQGIX have a correlation of 0.76, 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 GQGIX?

JEMSX has higher volatility (8.16%) compared to GQGIX (3.39%). In terms of maximum drawdown, JEMSX dropped -62.07% vs GQGIX's -33.50%.

Which has better risk-adjusted returns?

JEMSX currently has the higher Sharpe Ratio (3.23 vs 1.25), 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.