KF vs. GMAQX
KF (The Korea Fund Inc) and GMAQX (GMO Emerging Markets ex-China Fund) are both Emerging Markets Equities funds. Over the past 3 years, KF returned 33.59%/yr vs 25.92%/yr for GMAQX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. KF charges 0.01%/yr vs 0.67%/yr for GMAQX.
Performance
KF vs. GMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, KF achieves a 52.92% return, which is significantly higher than GMAQX's 37.39% return.
KF
- 1D
- -2.46%
- 1M
- -18.91%
- 6M
- 19.78%
- YTD
- 52.92%
- 1Y
- 109.71%
- 3Y*
- 33.59%
- 5Y*
- 13.63%
- 10Y*
- 12.77%
- ALL TIME*
- 7.03%
GMAQX
- 1D
- 3.87%
- 1M
- -3.47%
- 6M
- 24.02%
- YTD
- 37.39%
- 1Y
- 60.19%
- 3Y*
- 25.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.71M | $1.51M | $1.67M |
KF vs. GMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KF The Korea Fund Inc | 52.92% | 99.36% | -19.29% | 12.34% | -30.02% | 9.02% |
GMAQX GMO Emerging Markets ex-China Fund | 37.39% | 32.09% | 0.62% | 27.41% | -32.38% | 0.47% |
Correlation
The correlation between KF and GMAQX 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. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2021 | 0.68 |
The correlation between KF and GMAQX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
KF vs. GMAQX — Risk / Return Rank
KF
GMAQX
KF vs. GMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Korea Fund Inc (KF) and GMO Emerging Markets ex-China Fund (GMAQX). 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.
| KF | GMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.49 | -0.56 |
| Martin ratioReturn relative to average drawdown | 10.48 | 11.14 | -0.66 |
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Drawdowns
KF vs. GMAQX - Drawdown Comparison
The maximum KF drawdown since its inception was -85.25%, which is greater than GMAQX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for KF and GMAQX.
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Drawdown Indicators
| KF | GMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.25% | -41.97% | -43.28% |
Max Drawdown (1Y)Largest decline over 1 year | -35.19% | -16.27% | -18.92% |
Max Drawdown (3Y)Largest decline over 3 years | -35.19% | -19.64% | -15.55% |
Max Drawdown (5Y)Largest decline over 5 years | -46.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | — | — |
Current DrawdownCurrent decline from peak | -30.62% | -13.02% | -17.60% |
Average DrawdownAverage peak-to-trough decline | -37.80% | -16.45% | -21.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.82% | 5.09% | +4.73% |
Volatility
KF vs. GMAQX - Volatility Comparison
The Korea Fund Inc (KF) has a higher volatility of 18.84% compared to GMO Emerging Markets ex-China Fund (GMAQX) at 9.63%. This indicates that KF's price experiences larger fluctuations and is considered to be riskier than GMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KF | GMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.84% | 9.63% | +9.21% |
Volatility (6M)Calculated over the trailing 6-month period | 46.99% | 23.87% | +23.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.38% | 25.42% | +24.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.66% | 18.28% | +12.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.58% | 18.28% | +9.30% |
KF vs. GMAQX - Expense Ratio Comparison
KF has a 0.02% expense ratio, which is lower than GMAQX's 0.67% expense ratio.
Dividends
KF vs. GMAQX - Dividend Comparison
KF's dividend yield for the trailing twelve months is around 0.79%, less than GMAQX's 12.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMAQX GMO Emerging Markets ex-China Fund | 12.03% | 9.43% | 32.28% | 6.76% | 4.94% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KF The Korea Fund Inc | 0.79% | 1.20% | 2.46% | 0.00% | 15.93% | 26.50% | 1.30% | 0.24% | 18.67% | 9.75% | 1.03% | 13.66% |
Frequently Asked Questions
KF and GMAQX 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.
KF has higher volatility (18.84%) compared to GMAQX (9.63%). In terms of maximum drawdown, KF dropped -85.25% vs GMAQX's -41.97%.
GMAQX currently has the higher Sharpe Ratio (2.23 vs 2.05), 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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