JMIEX vs. FIFGX

Last updated Jun 4, 2026

JMIEX (JPMorgan Emerging Markets Equity Fund) and FIFGX (Fidelity SAI Inflation-Focused) are both mutual funds - JMIEX is a Emerging Markets Diversified fund managed by JPMorgan, while FIFGX is a Commodities fund managed by Fidelity. Over the past 5 years, JMIEX returned 6.36%/yr vs 11.70%/yr for FIFGX. At a 0.25 correlation, their price movements are largely independent. JMIEX charges 0.90%/yr vs 0.39%/yr for FIFGX.

Performance

JMIEX vs. FIFGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Emerging Markets Equity Fund (JMIEX) and Fidelity SAI Inflation-Focused (FIFGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMIEX achieves a 33.06% return, which is significantly lower than FIFGX's 45.44% return.

JMIEX

• 1D: 0.79%
• 1M: 9.89%
• YTD: 33.06%
• 6M: 36.23%
• 1Y: 67.07%
• 3Y*: 25.66%
• 5Y*: 6.36%
• 10Y*: 12.02%

FIFGX

• 1D: 0.56%
• 1M: -3.56%
• YTD: 45.44%
• 6M: 41.16%
• 1Y: 54.21%
• 3Y*: 17.52%
• 5Y*: 11.70%
• 10Y*: —

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

JMIEX vs. FIFGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JMIEX JPMorgan Emerging Markets Equity Fund	33.06%	40.27%	3.48%	7.32%	-25.68%	-10.29%	34.88%	32.04%	1.26%
FIFGX Fidelity SAI Inflation-Focused	45.44%	7.44%	6.34%	-11.90%	9.30%	32.92%	1.48%	9.32%	-2.00%

Correlation

The correlation between JMIEX and FIFGX is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Dec 21, 2018	0.25

The correlation between JMIEX and FIFGX shifts across timeframes, from -0.10 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JMIEX vs. FIFGX — Risk / Return Rank

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

JMIEX

JMIEX Risk / Return Rank: 92
JMIEX Sharpe Ratio Rank: 96
JMIEX Sortino Ratio Rank: 88
JMIEX Omega Ratio Rank: 88
JMIEX Calmar Ratio Rank: 94
JMIEX Martin Ratio Rank: 95

FIFGX

FIFGX Risk / Return Rank: 76
FIFGX Sharpe Ratio Rank: 78
FIFGX Sortino Ratio Rank: 59
FIFGX Omega Ratio Rank: 61
FIFGX Calmar Ratio Rank: 97
FIFGX Martin Ratio Rank: 83

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.

JMIEX vs. FIFGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Emerging Markets Equity Fund (JMIEX) and Fidelity SAI Inflation-Focused (FIFGX). 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.

	JMIEX	FIFGX	Difference
Sharpe ratio: Return per unit of total volatility	3.50	2.56	+0.94
Sortino ratio: Return per unit of downside risk	4.26	3.22	+1.03
Omega ratio: Gain probability vs. loss probability	1.62	1.44	+0.19
Calmar ratio: Return relative to maximum drawdown	5.40	7.35	-1.95
Martin ratio: Return relative to average drawdown	22.59	15.66	+6.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMIEX vs. FIFGX - Sharpe Ratio Comparison

The current JMIEX Sharpe Ratio is 3.50, which is higher than the FIFGX Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of JMIEX and FIFGX, 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

	JMIEX	FIFGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.50	2.56	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.03	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.04	+0.30

Drawdowns

JMIEX vs. FIFGX - Drawdown Comparison

The maximum JMIEX drawdown since its inception was -62.02%, smaller than the maximum FIFGX drawdown of -92.38%. Use the drawdown chart below to compare losses from any high point for JMIEX and FIFGX.

Drawdown Indicators

	JMIEX	FIFGX	Difference
Max Drawdown Largest peak-to-trough decline	-62.02%	-92.38%	+30.36%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-7.52%	-5.04%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	-90.27%	+75.21%
Max Drawdown (5Y) Largest decline over 5 years	-44.85%	-92.38%	+47.53%
Max Drawdown (10Y) Largest decline over 10 years	-49.51%	—	—
Current Drawdown Current decline from peak	0.00%	-4.73%	+4.73%
Average Drawdown Average peak-to-trough decline	-20.17%	-13.91%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	3.52%	-0.52%

Volatility

JMIEX vs. FIFGX - Volatility Comparison

JPMorgan Emerging Markets Equity Fund (JMIEX) has a higher volatility of 8.00% compared to Fidelity SAI Inflation-Focused (FIFGX) at 7.22%. This indicates that JMIEX's price experiences larger fluctuations and is considered to be riskier than FIFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMIEX	FIFGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	7.22%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	16.24%	18.34%	-2.10%
Volatility (1Y) Calculated over the trailing 1-year period	19.40%	21.78%	-2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.24%	408.18%	-388.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	334.62%	-315.18%

JMIEX vs. FIFGX - Expense Ratio Comparison

JMIEX has a 0.90% expense ratio, which is higher than FIFGX's 0.39% expense ratio.

Dividends

JMIEX vs. FIFGX - Dividend Comparison

JMIEX's dividend yield for the trailing twelve months is around 1.02%, less than FIFGX's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIFGX Fidelity SAI Inflation-Focused	3.74%	5.44%	4.73%	2.43%	12.64%	35.77%	3.10%	1.59%	0.00%	0.00%	0.00%	0.00%
JMIEX JPMorgan Emerging Markets Equity Fund	1.02%	1.36%	1.51%	1.56%	0.54%	3.89%	0.14%	0.81%	0.95%	0.44%	0.81%	0.98%

Frequently Asked Questions

Can I hold both JMIEX and FIFGX in my portfolio?

JMIEX and FIFGX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMIEX or FIFGX?

JMIEX has higher volatility (8.00%) compared to FIFGX (7.22%). In terms of maximum drawdown, JMIEX dropped -62.02% vs FIFGX's -92.38%.

Which has better risk-adjusted returns?

JMIEX currently has the higher Sharpe Ratio (3.50 vs 2.56), 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.