JOEMX vs. GTDDX

Last updated Aug 1, 2026

JOEMX (JOHCM Emerging Markets Opportunities Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Equities funds. Over the past 10 years, JOEMX returned 8.53%/yr vs 8.12%/yr for GTDDX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. JOEMX charges 1.02%/yr vs 1.39%/yr for GTDDX.

Performance

JOEMX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JOHCM Emerging Markets Opportunities Fund (JOEMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOEMX achieves a 15.83% return, which is significantly lower than GTDDX's 30.40% return. Both investments have delivered pretty close results over the past 10 years, with JOEMX having a 8.53% annualized return and GTDDX not far behind at 8.12%.

JOEMX

• 1D: 2.80%
• 1M: -1.26%
• 6M: 5.24%
• YTD: 15.83%
• 1Y: 34.96%
• 3Y*: 17.19%
• 5Y*: 8.19%
• 10Y*: 8.53%
• ALL TIME*: 5.78%

GTDDX

• 1D: 3.90%
• 1M: -6.50%
• 6M: 18.90%
• YTD: 30.40%
• 1Y: 53.81%
• 3Y*: 17.47%
• 5Y*: 7.50%
• 10Y*: 8.12%
• ALL TIME*: 6.04%

*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)
GTDDX Invesco EQV Emerging Markets All Cap Fd	$0.00	$0.00	$0.00
JOEMX JOHCM Emerging Markets Opportunities Fund	$0.00	$0.00	$0.00

JOEMX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JOEMX JOHCM Emerging Markets Opportunities Fund	15.83%	36.38%	6.03%	7.18%	-15.74%	1.29%	16.46%	14.86%	-14.73%	34.68%
GTDDX Invesco EQV Emerging Markets All Cap Fd	30.40%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-18.77%	30.34%

Correlation

The correlation between JOEMX and GTDDX is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Nov 23, 2012	0.80

The correlation between JOEMX and GTDDX has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

JOEMX vs. GTDDX — Risk / Return Rank

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

JOEMX

JOEMX Risk / Return Rank: 61
JOEMX Sharpe Ratio Rank: 67
JOEMX Sortino Ratio Rank: 57
JOEMX Omega Ratio Rank: 66
JOEMX Calmar Ratio Rank: 62
JOEMX Martin Ratio Rank: 52

GTDDX

GTDDX Risk / Return Rank: 83
GTDDX Sharpe Ratio Rank: 86
GTDDX Sortino Ratio Rank: 77
GTDDX Omega Ratio Rank: 81
GTDDX Calmar Ratio Rank: 87
GTDDX Martin Ratio Rank: 83

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. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JOHCM Emerging Markets Opportunities Fund (JOEMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.11	-0.52
Sortino ratio: Return per unit of downside risk	2.09	2.69	-0.59
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	2.12	3.10	-0.98
Martin ratio: Return relative to average drawdown	7.16	10.42	-3.26

JOEMX vs. GTDDX - Sharpe Ratio Comparison

The current JOEMX Sharpe Ratio is 1.60, which is comparable to the GTDDX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of JOEMX and GTDDX, 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. GTDDX - Drawdown Comparison

The maximum JOEMX drawdown since its inception was -38.23%, smaller than the maximum GTDDX drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for JOEMX and GTDDX.

Drawdown Indicators

	JOEMX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-38.23%	-62.89%	+24.66%
Max Drawdown (1Y) Largest decline over 1 year	-15.66%	-16.30%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-16.30%	+0.57%
Max Drawdown (5Y) Largest decline over 5 years	-26.63%	-34.81%	+8.18%
Max Drawdown (10Y) Largest decline over 10 years	-38.23%	-39.58%	+1.35%
Current Drawdown Current decline from peak	-6.55%	-13.04%	+6.49%
Average Drawdown Average peak-to-trough decline	-11.48%	-18.69%	+7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.60%	4.83%	-0.23%

Volatility

JOEMX vs. GTDDX - Volatility Comparison

The current volatility for JOHCM Emerging Markets Opportunities Fund (JOEMX) is 6.92%, while Invesco EQV Emerging Markets All Cap Fd (GTDDX) has a volatility of 9.28%. This indicates that JOEMX experiences smaller price fluctuations and is considered to be less risky than GTDDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JOEMX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	9.28%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	18.23%	22.04%	-3.81%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	23.91%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	17.49%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	17.40%	-0.06%

JOEMX vs. GTDDX - Expense Ratio Comparison

JOEMX has a 1.02% expense ratio, which is lower than GTDDX's 1.39% expense ratio.

Dividends

JOEMX vs. GTDDX - Dividend Comparison

JOEMX's dividend yield for the trailing twelve months is around 3.48%, less than GTDDX's 16.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTDDX Invesco EQV Emerging Markets All Cap Fd	16.20%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%
JOEMX JOHCM Emerging Markets Opportunities Fund	3.48%	4.03%	1.22%	1.76%	2.08%	3.67%	1.13%	3.85%	4.55%	0.63%	0.86%	0.00%

Frequently Asked Questions

Can I hold both JOEMX and GTDDX in my portfolio?

JOEMX and GTDDX have a correlation of 0.76, 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 GTDDX?

GTDDX has higher volatility (9.28%) compared to JOEMX (6.92%). In terms of maximum drawdown, JOEMX dropped -38.23% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

GTDDX currently has the higher Sharpe Ratio (2.11 vs 1.60), 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.