JEMWX vs. SFENX

Last updated Jun 25, 2026

JEMWX (JPMorgan Emerging Markets Equity Fund Class R6) and SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) are both Emerging Markets Equities funds. JEMWX is actively managed, while SFENX is passively managed. Over the past 10 years, JEMWX returned 11.97%/yr vs 10.87%/yr for SFENX. Their correlation of 0.85 suggests significant overlap in exposure. JEMWX charges 0.74%/yr vs 0.39%/yr for SFENX.

Performance

JEMWX vs. SFENX - Performance Comparison

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

Returns By Period

In the year-to-date period, JEMWX achieves a 29.07% return, which is significantly higher than SFENX's 11.20% return. Over the past 10 years, JEMWX has outperformed SFENX with an annualized return of 11.97%, while SFENX has yielded a comparatively lower 10.87% annualized return.

JEMWX

• 1D: -5.41%
• 1M: 3.05%
• YTD: 29.07%
• 6M: 30.70%
• 1Y: 55.70%
• 3Y*: 24.12%
• 5Y*: 5.54%
• 10Y*: 11.97%

SFENX

• 1D: -2.32%
• 1M: -1.02%
• YTD: 11.20%
• 6M: 11.59%
• 1Y: 27.09%
• 3Y*: 19.75%
• 5Y*: 9.04%
• 10Y*: 10.87%

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

JEMWX vs. SFENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEMWX JPMorgan Emerging Markets Equity Fund Class R6	29.07%	40.40%	3.61%	7.42%	-25.61%	-10.20%	35.00%	32.20%	-15.82%	42.84%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	11.20%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%

Correlation

The correlation between JEMWX and SFENX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.85

The correlation between JEMWX and SFENX has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

JEMWX vs. SFENX — Risk / Return Rank

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

JEMWX

JEMWX Risk / Return Rank: 87
JEMWX Sharpe Ratio Rank: 90
JEMWX Sortino Ratio Rank: 73
JEMWX Omega Ratio Rank: 83
JEMWX Calmar Ratio Rank: 93
JEMWX Martin Ratio Rank: 94

SFENX

SFENX Risk / Return Rank: 62
SFENX Sharpe Ratio Rank: 62
SFENX Sortino Ratio Rank: 56
SFENX Omega Ratio Rank: 60
SFENX Calmar Ratio Rank: 73
SFENX Martin Ratio Rank: 58

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. SFENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). 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.

	JEMWX	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	2.67	2.12	+0.55
Sortino ratio: Return per unit of downside risk	3.19	2.86	+0.33
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	4.79	3.15	+1.64
Martin ratio: Return relative to average drawdown	18.74	10.89	+7.85

JEMWX vs. SFENX - Sharpe Ratio Comparison

The current JEMWX Sharpe Ratio is 2.67, which is comparable to the SFENX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of JEMWX and SFENX, 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

JEMWX vs. SFENX - Drawdown Comparison

The maximum JEMWX drawdown since its inception was -49.42%, roughly equal to the maximum SFENX drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for JEMWX and SFENX.

Drawdown Indicators

	JEMWX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-49.42%	-47.19%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-9.45%	-3.10%
Max Drawdown (3Y) Largest decline over 3 years	-15.01%	-16.51%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-44.78%	-29.26%	-15.52%
Max Drawdown (10Y) Largest decline over 10 years	-49.42%	-39.59%	-9.83%
Current Drawdown Current decline from peak	-5.41%	-5.19%	-0.22%
Average Drawdown Average peak-to-trough decline	-17.36%	-12.86%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.73%	+0.47%

Volatility

JEMWX vs. SFENX - Volatility Comparison

JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) has a higher volatility of 12.70% compared to Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) at 5.83%. This indicates that JEMWX's price experiences larger fluctuations and is considered to be riskier than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMWX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.70%	5.83%	+6.87%
Volatility (6M) Calculated over the trailing 6-month period	19.97%	11.74%	+8.23%
Volatility (1Y) Calculated over the trailing 1-year period	22.49%	14.01%	+8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.89%	15.53%	+4.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	16.84%	+2.85%

JEMWX vs. SFENX - Expense Ratio Comparison

JEMWX has a 0.74% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

JEMWX vs. SFENX - Dividend Comparison

JEMWX's dividend yield for the trailing twelve months is around 1.10%, less than SFENX's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEMWX JPMorgan Emerging Markets Equity Fund Class R6	1.10%	1.42%	1.63%	1.67%	0.67%	4.01%	0.18%	0.88%	1.05%	0.55%	0.89%	1.13%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.54%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%

Frequently Asked Questions

Can I hold both JEMWX and SFENX in my portfolio?

JEMWX and SFENX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEMWX or SFENX?

JEMWX has higher volatility (12.70%) compared to SFENX (5.83%). In terms of maximum drawdown, JEMWX dropped -49.42% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

JEMWX currently has the higher Sharpe Ratio (2.67 vs 2.12), 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.