KDHAX vs. SEMGX

Last updated Aug 6, 2026

KDHAX (DWS CROCI Equity Dividend Fd) and SEMGX (DWS Emerging Markets Equity Fund) are both mutual funds - KDHAX is a Large Cap Value Equities fund managed by DWS, while SEMGX is a Emerging Markets Equities fund managed by DWS. Over the past 10 years, KDHAX returned 9.39%/yr vs 7.90%/yr for SEMGX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. KDHAX charges 1.01%/yr vs 0.98%/yr for SEMGX.

Performance

KDHAX vs. SEMGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS CROCI Equity Dividend Fd (KDHAX) and DWS Emerging Markets Equity Fund (SEMGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KDHAX achieves a 19.28% return, which is significantly lower than SEMGX's 24.51% return. Over the past 10 years, KDHAX has outperformed SEMGX with an annualized return of 9.39%, while SEMGX has yielded a comparatively lower 7.90% annualized return.

KDHAX

• 1D: 1.31%
• 1M: 6.83%
• 6M: 8.09%
• YTD: 19.28%
• 1Y: 25.39%
• 3Y*: 12.68%
• 5Y*: 9.34%
• 10Y*: 9.39%
• ALL TIME*: 8.78%

SEMGX

• 1D: 1.96%
• 1M: -5.34%
• 6M: 14.66%
• YTD: 24.51%
• 1Y: 42.90%
• 3Y*: 21.00%
• 5Y*: 5.50%
• 10Y*: 7.90%
• ALL TIME*: 5.24%

*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)
KDHAX DWS CROCI Equity Dividend Fd	$0.00	$0.00	$0.00
SEMGX DWS Emerging Markets Equity Fund	$0.00	$0.00	$0.00

KDHAX vs. SEMGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KDHAX DWS CROCI Equity Dividend Fd	19.28%	2.92%	13.37%	5.30%	1.09%	19.44%	-9.41%	29.38%	-3.45%	19.25%
SEMGX DWS Emerging Markets Equity Fund	24.51%	28.85%	7.48%	6.32%	-21.66%	-11.60%	18.65%	19.23%	-12.25%	37.71%

Correlation

The correlation between KDHAX and SEMGX is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.35
Correlation (10Y) Provides a long-term view across more market conditions.	0.43
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.52

Over the past year, the correlation between KDHAX and SEMGX has dropped to 0.12 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

Return for Risk

KDHAX vs. SEMGX — Risk / Return Rank

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

KDHAX

KDHAX Risk / Return Rank: 64
KDHAX Sharpe Ratio Rank: 76
KDHAX Sortino Ratio Rank: 81
KDHAX Omega Ratio Rank: 64
KDHAX Calmar Ratio Rank: 59
KDHAX Martin Ratio Rank: 38

SEMGX

SEMGX Risk / Return Rank: 54
SEMGX Sharpe Ratio Rank: 56
SEMGX Sortino Ratio Rank: 43
SEMGX Omega Ratio Rank: 56
SEMGX Calmar Ratio Rank: 61
SEMGX Martin Ratio Rank: 52

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.

KDHAX vs. SEMGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS CROCI Equity Dividend Fd (KDHAX) and DWS Emerging Markets Equity Fund (SEMGX). 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.

	KDHAX	SEMGX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.70	+0.25
Sortino ratio: Return per unit of downside risk	2.95	2.17	+0.78
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.40	2.45	-0.04
Martin ratio: Return relative to average drawdown	6.34	8.20	-1.86

KDHAX vs. SEMGX - Sharpe Ratio Comparison

The current KDHAX Sharpe Ratio is 1.95, which is comparable to the SEMGX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of KDHAX and SEMGX, 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

KDHAX vs. SEMGX - Drawdown Comparison

The maximum KDHAX drawdown since its inception was -65.77%, roughly equal to the maximum SEMGX drawdown of -67.21%. Use the drawdown chart below to compare losses from any high point for KDHAX and SEMGX.

Drawdown Indicators

	KDHAX	SEMGX	Difference
Max Drawdown Largest peak-to-trough decline	-65.77%	-67.21%	+1.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.93%	-17.84%	+6.91%
Max Drawdown (3Y) Largest decline over 3 years	-16.91%	-18.37%	+1.46%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-37.63%	+20.72%
Max Drawdown (10Y) Largest decline over 10 years	-40.08%	-45.82%	+5.74%
Current Drawdown Current decline from peak	0.00%	-9.68%	+9.68%
Average Drawdown Average peak-to-trough decline	-9.36%	-25.15%	+15.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	5.30%	-1.18%

Volatility

KDHAX vs. SEMGX - Volatility Comparison

The current volatility for DWS CROCI Equity Dividend Fd (KDHAX) is 4.53%, while DWS Emerging Markets Equity Fund (SEMGX) has a volatility of 11.89%. This indicates that KDHAX experiences smaller price fluctuations and is considered to be less risky than SEMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KDHAX	SEMGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	11.89%	-7.36%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	23.41%	-13.53%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	25.76%	-12.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	20.00%	-5.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	18.94%	-2.06%

KDHAX vs. SEMGX - Expense Ratio Comparison

KDHAX has a 1.01% expense ratio, which is higher than SEMGX's 0.98% expense ratio.

Dividends

KDHAX vs. SEMGX - Dividend Comparison

KDHAX's dividend yield for the trailing twelve months is around 13.45%, more than SEMGX's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KDHAX DWS CROCI Equity Dividend Fd	13.45%	15.94%	9.07%	5.94%	6.24%	9.57%	5.53%	7.13%	12.23%	1.60%	1.81%	2.34%
SEMGX DWS Emerging Markets Equity Fund	2.41%	3.00%	0.15%	2.16%	2.16%	1.71%	1.23%	1.94%	0.71%	0.62%	0.54%	0.23%

Frequently Asked Questions

Can I hold both KDHAX and SEMGX in my portfolio?

KDHAX and SEMGX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KDHAX or SEMGX?

SEMGX has higher volatility (11.89%) compared to KDHAX (4.53%). In terms of maximum drawdown, KDHAX dropped -65.77% vs SEMGX's -67.21%.

Which has better risk-adjusted returns?

KDHAX currently has the higher Sharpe Ratio (1.95 vs 1.70), 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.