JEMWX vs. FEMSX

Last updated Jun 5, 2026

JEMWX (JPMorgan Emerging Markets Equity Fund Class R6) and FEMSX (Fidelity Series Emerging Markets Opportunities Fund) are both Emerging Markets Equities funds. Over the past 10 years, JEMWX returned 12.03%/yr vs 13.30%/yr for FEMSX. Their correlation of 0.94 suggests significant overlap in exposure. JEMWX charges 0.74%/yr vs 0.01%/yr for FEMSX.

Performance

JEMWX vs. FEMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JEMWX having a 31.94% return and FEMSX slightly higher at 32.13%. Over the past 10 years, JEMWX has underperformed FEMSX with an annualized return of 12.03%, while FEMSX has yielded a comparatively higher 13.30% annualized return.

JEMWX

• 1D: -0.88%
• 1M: 7.66%
• YTD: 31.94%
• 6M: 35.30%
• 1Y: 64.48%
• 3Y*: 25.41%
• 5Y*: 6.08%
• 10Y*: 12.03%

FEMSX

• 1D: -1.15%
• 1M: 7.85%
• YTD: 32.13%
• 6M: 36.21%
• 1Y: 63.17%
• 3Y*: 28.15%
• 5Y*: 8.38%
• 10Y*: 13.30%

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

JEMWX vs. FEMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEMWX JPMorgan Emerging Markets Equity Fund Class R6	31.94%	40.40%	3.61%	7.42%	-25.61%	-10.20%	35.00%	32.20%	-15.82%	42.84%
FEMSX Fidelity Series Emerging Markets Opportunities Fund	32.13%	37.92%	7.84%	14.23%	-23.95%	-5.14%	24.72%	28.87%	-16.20%	49.92%

Correlation

The correlation between JEMWX and FEMSX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.94

The correlation between JEMWX and FEMSX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

JEMWX vs. FEMSX — Risk / Return Rank

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

JEMWX

JEMWX Risk / Return Rank: 91
JEMWX Sharpe Ratio Rank: 95
JEMWX Sortino Ratio Rank: 86
JEMWX Omega Ratio Rank: 86
JEMWX Calmar Ratio Rank: 93
JEMWX Martin Ratio Rank: 95

FEMSX

FEMSX Risk / Return Rank: 91
FEMSX Sharpe Ratio Rank: 95
FEMSX Sortino Ratio Rank: 88
FEMSX Omega Ratio Rank: 88
FEMSX Calmar Ratio Rank: 91
FEMSX Martin Ratio Rank: 92

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.

JEMWX vs. FEMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). 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.

	JEMWX	FEMSX	Difference
Sharpe ratio: Return per unit of total volatility	3.41	3.45	-0.04
Sortino ratio: Return per unit of downside risk	4.17	4.27	-0.10
Omega ratio: Gain probability vs. loss probability	1.61	1.63	-0.02
Calmar ratio: Return relative to maximum drawdown	5.27	4.88	+0.39
Martin ratio: Return relative to average drawdown	22.05	19.45	+2.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMWX vs. FEMSX - Sharpe Ratio Comparison

The current JEMWX Sharpe Ratio is 3.41, which is comparable to the FEMSX Sharpe Ratio of 3.45. The chart below compares the historical Sharpe Ratios of JEMWX and FEMSX, 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

	JEMWX	FEMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	3.45	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.44	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.69	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.57	-0.09

Drawdowns

JEMWX vs. FEMSX - Drawdown Comparison

The maximum JEMWX drawdown since its inception was -49.42%, which is greater than FEMSX's maximum drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for JEMWX and FEMSX.

Drawdown Indicators

	JEMWX	FEMSX	Difference
Max Drawdown Largest peak-to-trough decline	-49.42%	-44.16%	-5.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-13.42%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-15.01%	-17.04%	+2.03%
Max Drawdown (5Y) Largest decline over 5 years	-44.78%	-41.64%	-3.14%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-44.16%	-5.26%
Current Drawdown Current decline from peak	-0.88%	-1.15%	+0.27%
Average Drawdown Average peak-to-trough decline	-17.42%	-13.40%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.36%	-0.37%

Volatility

JEMWX vs. FEMSX - Volatility Comparison

JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX) have volatilities of 8.09% and 8.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMWX	FEMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.09%	8.12%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.28%	16.46%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	19.41%	18.99%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	19.04%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	19.34%	+0.10%

JEMWX vs. FEMSX - Expense Ratio Comparison

JEMWX has a 0.74% expense ratio, which is higher than FEMSX's 0.01% expense ratio.

Dividends

JEMWX vs. FEMSX - Dividend Comparison

JEMWX's dividend yield for the trailing twelve months is around 1.08%, less than FEMSX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEMSX Fidelity Series Emerging Markets Opportunities Fund	1.85%	2.45%	2.08%	2.82%	2.39%	12.83%	2.99%	2.48%	9.42%	8.98%	1.46%	1.27%
JEMWX JPMorgan Emerging Markets Equity Fund Class R6	1.08%	1.42%	1.63%	1.67%	0.67%	4.01%	0.18%	0.88%	1.05%	0.55%	0.89%	1.13%

Frequently Asked Questions

Can I hold both JEMWX and FEMSX in my portfolio?

With a correlation of 0.93, JEMWX and FEMSX 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, JEMWX or FEMSX?

FEMSX has higher volatility (8.12%) compared to JEMWX (8.09%). In terms of maximum drawdown, JEMWX dropped -49.42% vs FEMSX's -44.16%.

Which has better risk-adjusted returns?

FEMSX currently has the higher Sharpe Ratio (3.44 vs 3.41), 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.