LVAZX vs. EMRSX

Last updated Jul 15, 2026

LVAZX (LSV Emerging Markets Equity Fund) and EMRSX (JPMorgan Emerging Markets Research Enhanced Equity Fund) are both Emerging Markets Diversified funds. Over the past 5 years, LVAZX returned 14.42%/yr vs 6.20%/yr for EMRSX. Their correlation of 0.86 suggests significant overlap in exposure. LVAZX charges 1.45%/yr vs 0.35%/yr for EMRSX.

Performance

LVAZX vs. EMRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LSV Emerging Markets Equity Fund (LVAZX) and JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVAZX achieves a 25.42% return, which is significantly higher than EMRSX's 19.14% return.

LVAZX

• 1D: -3.04%
• 1M: -4.47%
• 6M: 20.30%
• YTD: 25.42%
• 1Y: 45.72%
• 3Y*: 26.51%
• 5Y*: 14.42%
• 10Y*: —

EMRSX

• 1D: -3.40%
• 1M: -4.83%
• 6M: 13.32%
• YTD: 19.14%
• 1Y: 38.26%
• 3Y*: 19.55%
• 5Y*: 6.20%
• 10Y*: —

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

LVAZX vs. EMRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LVAZX LSV Emerging Markets Equity Fund	25.42%	39.90%	7.26%	21.26%	-13.03%	13.77%	5.03%	5.91%
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	19.14%	35.27%	6.43%	8.91%	-21.42%	-3.38%	18.56%	14.64%

Correlation

The correlation between LVAZX and EMRSX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 25, 2019	0.86

The correlation between LVAZX and EMRSX has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

Return for Risk

LVAZX vs. EMRSX — Risk / Return Rank

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

LVAZX

LVAZX Risk / Return Rank: 88
LVAZX Sharpe Ratio Rank: 90
LVAZX Sortino Ratio Rank: 80
LVAZX Omega Ratio Rank: 86
LVAZX Calmar Ratio Rank: 93
LVAZX Martin Ratio Rank: 91

EMRSX

EMRSX Risk / Return Rank: 66
EMRSX Sharpe Ratio Rank: 64
EMRSX Sortino Ratio Rank: 49
EMRSX Omega Ratio Rank: 68
EMRSX Calmar Ratio Rank: 80
EMRSX Martin Ratio Rank: 70

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.

LVAZX vs. EMRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LSV Emerging Markets Equity Fund (LVAZX) and JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX). 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.

	LVAZX	EMRSX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.75	+0.68
Sortino ratio: Return per unit of downside risk	2.99	2.22	+0.77
Omega ratio: Gain probability vs. loss probability	1.46	1.34	+0.12
Calmar ratio: Return relative to maximum drawdown	4.06	2.91	+1.15
Martin ratio: Return relative to average drawdown	13.74	10.21	+3.53

LVAZX vs. EMRSX - Sharpe Ratio Comparison

The current LVAZX Sharpe Ratio is 2.43, which is higher than the EMRSX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of LVAZX and EMRSX, 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

LVAZX vs. EMRSX - Drawdown Comparison

The maximum LVAZX drawdown since its inception was -37.87%, smaller than the maximum EMRSX drawdown of -41.28%. Use the drawdown chart below to compare losses from any high point for LVAZX and EMRSX.

Drawdown Indicators

	LVAZX	EMRSX	Difference
Max Drawdown Largest peak-to-trough decline	-37.87%	-41.28%	+3.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-13.30%	+1.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.02%	-15.42%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-36.17%	+9.10%
Current Drawdown Current decline from peak	-8.13%	-9.05%	+0.92%
Average Drawdown Average peak-to-trough decline	-6.75%	-15.13%	+8.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.78%	-0.41%

Volatility

LVAZX vs. EMRSX - Volatility Comparison

The current volatility for LSV Emerging Markets Equity Fund (LVAZX) is 9.78%, while JPMorgan Emerging Markets Research Enhanced Equity Fund (EMRSX) has a volatility of 11.33%. This indicates that LVAZX experiences smaller price fluctuations and is considered to be less risky than EMRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVAZX	EMRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.78%	11.33%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	17.58%	20.31%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	22.18%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.20%	18.18%	-2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	19.69%	-3.35%

LVAZX vs. EMRSX - Expense Ratio Comparison

LVAZX has a 1.45% expense ratio, which is higher than EMRSX's 0.35% expense ratio.

Dividends

LVAZX vs. EMRSX - Dividend Comparison

LVAZX's dividend yield for the trailing twelve months is around 4.08%, more than EMRSX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMRSX JPMorgan Emerging Markets Research Enhanced Equity Fund	3.09%	3.68%	2.42%	3.08%	2.48%	5.59%	1.50%	0.94%	0.53%
LVAZX LSV Emerging Markets Equity Fund	4.08%	5.12%	1.39%	4.58%	3.14%	8.50%	2.54%	2.99%	0.00%

Frequently Asked Questions

Can I hold both LVAZX and EMRSX in my portfolio?

With a correlation of 0.94, LVAZX and EMRSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LVAZX or EMRSX?

EMRSX has higher volatility (11.33%) compared to LVAZX (9.78%). In terms of maximum drawdown, LVAZX dropped -37.87% vs EMRSX's -41.28%.

Which has better risk-adjusted returns?

LVAZX currently has the higher Sharpe Ratio (2.43 vs 1.75), 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.