JOEMX vs. DRESX
JOEMX (JOHCM Emerging Markets Opportunities Fund) and DRESX (Driehaus Emerging Markets Small Cap Growth Fund) are both Emerging Markets Equities funds. Over the past 10 years, JOEMX returned 8.73%/yr vs 9.10%/yr for DRESX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. JOEMX charges 1.02%/yr vs 1.24%/yr for DRESX.
Performance
JOEMX vs. DRESX - Performance Comparison
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Returns By Period
In the year-to-date period, JOEMX achieves a 16.97% return, which is significantly higher than DRESX's 4.11% return. Both investments have delivered pretty close results over the past 10 years, with JOEMX having a 8.73% annualized return and DRESX not far ahead at 9.10%.
JOEMX
- 1D
- 0.98%
- 1M
- -0.29%
- 6M
- 7.85%
- YTD
- 16.97%
- 1Y
- 36.29%
- 3Y*
- 17.75%
- 5Y*
- 8.40%
- 10Y*
- 8.73%
- ALL TIME*
- 5.86%
DRESX
- 1D
- 1.44%
- 1M
- -8.67%
- 6M
- -3.73%
- YTD
- 4.11%
- 1Y
- 17.57%
- 3Y*
- 13.48%
- 5Y*
- 5.49%
- 10Y*
- 9.10%
- ALL TIME*
- 7.56%
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 |
JOEMX vs. DRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JOEMX JOHCM Emerging Markets Opportunities Fund | 16.97% | 36.38% | 6.03% | 7.18% | -15.74% | 1.29% | 16.46% | 14.86% | -14.73% | 34.68% |
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 4.11% | 24.08% | 14.86% | 10.30% | -21.17% | 15.93% | 33.56% | 33.70% | -24.00% | 33.30% |
Correlation
The correlation between JOEMX and DRESX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2012 | 0.68 |
The correlation between JOEMX and DRESX has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
JOEMX vs. DRESX — Risk / Return Rank
JOEMX
DRESX
JOEMX vs. DRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JOHCM Emerging Markets Opportunities Fund (JOEMX) and Driehaus Emerging Markets Small Cap Growth Fund (DRESX). 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.
| JOEMX | DRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.18 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 0.85 | +1.46 |
| Martin ratioReturn relative to average drawdown | 7.80 | 3.08 | +4.72 |
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Drawdowns
JOEMX vs. DRESX - Drawdown Comparison
The maximum JOEMX drawdown since its inception was -38.23%, which is greater than DRESX's maximum drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for JOEMX and DRESX.
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Drawdown Indicators
| JOEMX | DRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.23% | -33.38% | -4.85% |
Max Drawdown (1Y)Largest decline over 1 year | -15.66% | -20.40% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.73% | -20.40% | +4.67% |
Max Drawdown (5Y)Largest decline over 5 years | -26.46% | -25.88% | -0.58% |
Max Drawdown (10Y)Largest decline over 10 years | -38.23% | -33.38% | -4.85% |
Current DrawdownCurrent decline from peak | -5.63% | -17.88% | +12.25% |
Average DrawdownAverage peak-to-trough decline | -11.48% | -9.92% | -1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 5.63% | -1.02% |
Volatility
JOEMX vs. DRESX - Volatility Comparison
The current volatility for JOHCM Emerging Markets Opportunities Fund (JOEMX) is 6.99%, while Driehaus Emerging Markets Small Cap Growth Fund (DRESX) has a volatility of 7.46%. This indicates that JOEMX experiences smaller price fluctuations and is considered to be less risky than DRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JOEMX | DRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 7.46% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 18.24% | 16.69% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.82% | 18.55% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 15.42% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 16.23% | +1.11% |
JOEMX vs. DRESX - Expense Ratio Comparison
JOEMX has a 1.02% expense ratio, which is lower than DRESX's 1.24% expense ratio.
Dividends
JOEMX vs. DRESX - Dividend Comparison
JOEMX's dividend yield for the trailing twelve months is around 3.44%, more than DRESX's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 2.16% | 2.25% | 0.68% | 1.09% | 0.00% | 0.04% | 0.65% | 0.41% | 0.00% | 0.00% | 0.00% |
JOEMX JOHCM Emerging Markets Opportunities Fund | 3.44% | 4.03% | 1.22% | 1.76% | 2.08% | 3.67% | 1.13% | 3.85% | 4.55% | 0.63% | 0.86% |
Frequently Asked Questions
JOEMX and DRESX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRESX has higher volatility (7.46%) compared to JOEMX (6.99%). In terms of maximum drawdown, JOEMX dropped -38.23% vs DRESX's -33.38%.
JOEMX currently has the higher Sharpe Ratio (1.75 vs 0.94), 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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