KF vs. GQGIX

Last updated Jun 24, 2026

KF (The Korea Fund Inc) and GQGIX (GQG Partners Emerging Markets Equity Fund Institutional Shares) are both Emerging Markets Equities funds. Over the past 5 years, KF returned 18.29%/yr vs 3.59%/yr for GQGIX. A 0.57 correlation means they provide meaningful diversification when combined. KF charges 0.01%/yr vs 0.98%/yr for GQGIX.

Performance

KF vs. GQGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Korea Fund Inc (KF) 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, KF achieves a 94.44% return, which is significantly higher than GQGIX's 6.12% return.

KF

• 1D: -11.46%
• 1M: 6.90%
• YTD: 94.44%
• 6M: 99.44%
• 1Y: 176.02%
• 3Y*: 46.53%
• 5Y*: 18.29%
• 10Y*: 16.63%

GQGIX

• 1D: 0.69%
• 1M: -0.74%
• YTD: 6.12%
• 6M: 6.31%
• 1Y: 14.37%
• 3Y*: 12.27%
• 5Y*: 3.59%
• 10Y*: —

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

KF vs. GQGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KF The Korea Fund Inc	94.44%	99.36%	-19.29%	12.34%	-30.02%	8.44%	37.14%	6.83%	-19.26%	42.50%
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	6.12%	9.92%	6.19%	28.81%	-20.85%	-2.37%	33.98%	21.08%	-14.70%	30.20%

Correlation

The correlation between KF and GQGIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.57

The correlation between KF and GQGIX has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

Return for Risk

KF vs. GQGIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KF

KF Risk / Return Rank: 93
KF Sharpe Ratio Rank: 99
KF Sortino Ratio Rank: 85
KF Omega Ratio Rank: 88
KF Calmar Ratio Rank: 97
KF Martin Ratio Rank: 97

GQGIX

GQGIX Risk / Return Rank: 21
GQGIX Sharpe Ratio Rank: 22
GQGIX Sortino Ratio Rank: 22
GQGIX Omega Ratio Rank: 21
GQGIX Calmar Ratio Rank: 21
GQGIX Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KF vs. GQGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Korea Fund Inc (KF) 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.

	KF	GQGIX	Difference
Sharpe ratio: Return per unit of total volatility	3.86	1.24	+2.61
Sortino ratio: Return per unit of downside risk	3.75	1.82	+1.93
Omega ratio: Gain probability vs. loss probability	1.57	1.22	+0.35
Calmar ratio: Return relative to maximum drawdown	6.97	1.57	+5.40
Martin ratio: Return relative to average drawdown	24.90	4.91	+19.99

KF vs. GQGIX - Sharpe Ratio Comparison

The current KF Sharpe Ratio is 3.86, which is higher than the GQGIX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of KF 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

KF vs. GQGIX - Drawdown Comparison

The maximum KF drawdown since its inception was -85.25%, which is greater than GQGIX's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for KF and GQGIX.

Drawdown Indicators

	KF	GQGIX	Difference
Max Drawdown Largest peak-to-trough decline	-85.25%	-33.50%	-51.75%
Max Drawdown (1Y) Largest decline over 1 year	-25.42%	-9.11%	-16.31%
Max Drawdown (3Y) Largest decline over 3 years	-28.04%	-18.74%	-9.30%
Max Drawdown (5Y) Largest decline over 5 years	-47.62%	-29.14%	-18.48%
Max Drawdown (10Y) Largest decline over 10 years	-52.91%	—	—
Current Drawdown Current decline from peak	-11.78%	-4.40%	-7.38%
Average Drawdown Average peak-to-trough decline	-37.85%	-11.33%	-26.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	2.91%	+4.19%

Volatility

KF vs. GQGIX - Volatility Comparison

The Korea Fund Inc (KF) has a higher volatility of 26.65% compared to GQG Partners Emerging Markets Equity Fund Institutional Shares (GQGIX) at 3.25%. This indicates that KF'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

	KF	GQGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.65%	3.25%	+23.40%
Volatility (6M) Calculated over the trailing 6-month period	42.61%	9.68%	+32.93%
Volatility (1Y) Calculated over the trailing 1-year period	45.95%	11.55%	+34.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.23%	14.73%	+14.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.82%	15.91%	+10.91%

KF vs. GQGIX - Expense Ratio Comparison

KF has a 0.02% expense ratio, which is lower than GQGIX's 0.98% expense ratio.

Dividends

KF vs. GQGIX - Dividend Comparison

KF's dividend yield for the trailing twelve months is around 0.62%, less than GQGIX's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGIX GQG Partners Emerging Markets Equity Fund Institutional Shares	2.00%	2.13%	1.70%	2.71%	5.67%	3.91%	0.24%	1.16%	0.81%	0.25%	0.00%	0.00%
KF The Korea Fund Inc	0.62%	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

Can I hold both KF and GQGIX in my portfolio?

KF and GQGIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KF or GQGIX?

KF has higher volatility (26.65%) compared to GQGIX (3.25%). In terms of maximum drawdown, KF dropped -85.25% vs GQGIX's -33.50%.

Which has better risk-adjusted returns?

KF currently has the higher Sharpe Ratio (3.85 vs 1.24), 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.