JOEMX vs. GQGIX

Last updated Aug 4, 2026

JOEMX (JOHCM Emerging Markets Opportunities Fund) and GQGIX (GQG Partners Emerging Markets Equity Fund Institutional Shares) are both Emerging Markets Equities funds. Over the past 5 years, JOEMX returned 8.40%/yr vs 4.95%/yr for GQGIX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. JOEMX charges 1.02%/yr vs 0.98%/yr for GQGIX.

Performance

JOEMX vs. GQGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JOHCM Emerging Markets Opportunities Fund (JOEMX) 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, JOEMX achieves a 16.97% return, which is significantly higher than GQGIX's 8.26% return.

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%

GQGIX

• 1D: 0.57%
• 1M: 4.05%
• 6M: 2.72%
• YTD: 8.26%
• 1Y: 16.88%
• 3Y*: 11.03%
• 5Y*: 4.95%
• 10Y*: —
• ALL TIME*: 8.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	$0.00	$0.00	$0.00
JOEMX JOHCM Emerging Markets Opportunities Fund	$0.00	$0.00	$0.00

JOEMX vs. GQGIX - 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%
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	8.26%	9.92%	6.19%	28.81%	-20.85%	-2.37%	33.98%	21.08%	-14.70%	30.20%

Correlation

The correlation between JOEMX and GQGIX is 0.63, 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.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.76

The correlation between JOEMX and GQGIX shifts across timeframes, from 0.63 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JOEMX vs. GQGIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JOEMX

JOEMX Risk / Return Rank: 63
JOEMX Sharpe Ratio Rank: 71
JOEMX Sortino Ratio Rank: 58
JOEMX Omega Ratio Rank: 69
JOEMX Calmar Ratio Rank: 65
JOEMX Martin Ratio Rank: 54

GQGIX

GQGIX Risk / Return Rank: 43
GQGIX Sharpe Ratio Rank: 47
GQGIX Sortino Ratio Rank: 49
GQGIX Omega Ratio Rank: 45
GQGIX Calmar Ratio Rank: 41
GQGIX Martin Ratio Rank: 32

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JOEMX vs. GQGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JOHCM Emerging Markets Opportunities Fund (JOEMX) 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.

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	GQGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.42	+0.33
Sortino ratio: Return per unit of downside risk	2.26	2.07	+0.19
Omega ratio: Gain probability vs. loss probability	1.32	1.26	+0.06
Calmar ratio: Return relative to maximum drawdown	2.32	1.79	+0.52
Martin ratio: Return relative to average drawdown	7.80	5.03	+2.77

JOEMX vs. GQGIX - Sharpe Ratio Comparison

The current JOEMX Sharpe Ratio is 1.75, which is comparable to the GQGIX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of JOEMX 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.

Drawdowns

JOEMX vs. GQGIX - Drawdown Comparison

The maximum JOEMX drawdown since its inception was -38.23%, which is greater than GQGIX's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for JOEMX and GQGIX.

Drawdown Indicators

	JOEMX	GQGIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.23%	-33.50%	-4.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.66%	-9.11%	-6.55%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-18.74%	+3.01%
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	-28.02%	+1.56%
Max Drawdown (10Y) Largest decline over 10 years	-38.23%	—	—
Current Drawdown Current decline from peak	-5.63%	-2.48%	-3.15%
Average Drawdown Average peak-to-trough decline	-11.48%	-11.26%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	3.24%	+1.37%

Volatility

JOEMX vs. GQGIX - Volatility Comparison

JOHCM Emerging Markets Opportunities Fund (JOEMX) has a higher volatility of 6.99% compared to GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) at 2.96%. This indicates that JOEMX'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

	JOEMX	GQGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.99%	2.96%	+4.03%
Volatility (6M) Calculated over the trailing 6-month period	18.24%	9.75%	+8.49%
Volatility (1Y) Calculated over the trailing 1-year period	20.82%	11.53%	+9.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	14.61%	+2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	15.86%	+1.48%

JOEMX vs. GQGIX - Expense Ratio Comparison

JOEMX has a 1.02% expense ratio, which is higher than GQGIX's 0.98% expense ratio.

Dividends

JOEMX vs. GQGIX - Dividend Comparison

JOEMX's dividend yield for the trailing twelve months is around 3.44%, more than GQGIX's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	1.96%	2.13%	1.70%	2.71%	5.67%	3.91%	0.24%	1.16%	0.81%	0.25%	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

Can I hold both JOEMX and GQGIX in my portfolio?

JOEMX and GQGIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JOEMX or GQGIX?

JOEMX has higher volatility (6.99%) compared to GQGIX (2.96%). In terms of maximum drawdown, JOEMX dropped -38.23% vs GQGIX's -33.50%.

Which has better risk-adjusted returns?

JOEMX currently has the higher Sharpe Ratio (1.75 vs 1.42), 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.