PEAFX vs. DEMCX

Last updated Aug 1, 2026

PEAFX (PIMCO RAE Emerging Markets Fund Class A) and DEMCX (Nomura Emerging Markets Fund Class C) are both Emerging Markets Equities funds. Both are actively managed. Over the past 10 years, PEAFX returned 9.35%/yr vs 16.80%/yr for DEMCX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. PEAFX charges 1.10%/yr vs 2.17%/yr for DEMCX.

Performance

PEAFX vs. DEMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE Emerging Markets Fund Class A (PEAFX) and Nomura Emerging Markets Fund Class C (DEMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEAFX achieves a 11.38% return, which is significantly lower than DEMCX's 67.60% return. Over the past 10 years, PEAFX has underperformed DEMCX with an annualized return of 9.35%, while DEMCX has yielded a comparatively higher 16.80% annualized return.

PEAFX

• 1D: 2.23%
• 1M: 2.64%
• 6M: 1.34%
• YTD: 11.38%
• 1Y: 19.17%
• 3Y*: 11.69%
• 5Y*: 7.84%
• 10Y*: 9.35%
• ALL TIME*: 11.46%

DEMCX

• 1D: 8.32%
• 1M: -18.28%
• 6M: 33.85%
• YTD: 67.60%
• 1Y: 153.43%
• 3Y*: 49.76%
• 5Y*: 21.94%
• 10Y*: 16.80%
• ALL TIME*: 9.70%

*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)
DEMCX Nomura Emerging Markets Fund Class C	$0.00	$0.00	$0.00
PEAFX PIMCO RAE Emerging Markets Fund Class A	$0.00	$0.00	$0.00

PEAFX vs. DEMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEAFX PIMCO RAE Emerging Markets Fund Class A	11.38%	20.25%	1.14%	22.28%	-10.71%	15.47%	6.43%	13.30%	-12.77%	28.91%
DEMCX Nomura Emerging Markets Fund Class C	67.60%	84.86%	5.47%	16.47%	-29.38%	-3.05%	24.55%	23.16%	-17.94%	40.59%

Correlation

The correlation between PEAFX and DEMCX is 0.56, 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.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.78

Over the past year, the correlation between PEAFX and DEMCX has dropped to 0.56 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

PEAFX vs. DEMCX — Risk / Return Rank

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

PEAFX

PEAFX Risk / Return Rank: 32
PEAFX Sharpe Ratio Rank: 32
PEAFX Sortino Ratio Rank: 29
PEAFX Omega Ratio Rank: 32
PEAFX Calmar Ratio Rank: 38
PEAFX Martin Ratio Rank: 28

DEMCX

DEMCX Risk / Return Rank: 91
DEMCX Sharpe Ratio Rank: 97
DEMCX Sortino Ratio Rank: 82
DEMCX Omega Ratio Rank: 86
DEMCX Calmar Ratio Rank: 94
DEMCX Martin Ratio Rank: 96

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.

PEAFX vs. DEMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Emerging Markets Fund Class A (PEAFX) and Nomura Emerging Markets Fund Class C (DEMCX). 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.

	PEAFX	DEMCX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.75	-1.71
Sortino ratio: Return per unit of downside risk	1.43	2.84	-1.41
Omega ratio: Gain probability vs. loss probability	1.19	1.43	-0.23
Calmar ratio: Return relative to maximum drawdown	1.61	3.98	-2.37
Martin ratio: Return relative to average drawdown	4.12	16.56	-12.44

PEAFX vs. DEMCX - Sharpe Ratio Comparison

The current PEAFX Sharpe Ratio is 1.04, which is lower than the DEMCX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of PEAFX and DEMCX, 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

PEAFX vs. DEMCX - Drawdown Comparison

The maximum PEAFX drawdown since its inception was -47.18%, smaller than the maximum DEMCX drawdown of -63.54%. Use the drawdown chart below to compare losses from any high point for PEAFX and DEMCX.

Drawdown Indicators

	PEAFX	DEMCX	Difference
Max Drawdown Largest peak-to-trough decline	-47.18%	-63.54%	+16.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-36.58%	+26.60%
Max Drawdown (3Y) Largest decline over 3 years	-22.22%	-36.58%	+14.36%
Max Drawdown (5Y) Largest decline over 5 years	-26.16%	-38.96%	+12.80%
Max Drawdown (10Y) Largest decline over 10 years	-47.18%	-47.21%	+0.03%
Current Drawdown Current decline from peak	-5.74%	-31.31%	+25.57%
Average Drawdown Average peak-to-trough decline	-10.11%	-19.59%	+9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	8.76%	-4.87%

Volatility

PEAFX vs. DEMCX - Volatility Comparison

The current volatility for PIMCO RAE Emerging Markets Fund Class A (PEAFX) is 5.08%, while Nomura Emerging Markets Fund Class C (DEMCX) has a volatility of 25.07%. This indicates that PEAFX experiences smaller price fluctuations and is considered to be less risky than DEMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEAFX	DEMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	25.07%	-19.99%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	49.53%	-37.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	52.91%	-37.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	30.11%	-15.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	25.79%	-8.74%

PEAFX vs. DEMCX - Expense Ratio Comparison

PEAFX has a 1.10% expense ratio, which is lower than DEMCX's 2.17% expense ratio.

Dividends

PEAFX vs. DEMCX - Dividend Comparison

PEAFX's dividend yield for the trailing twelve months is around 2.67%, less than DEMCX's 12.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DEMCX Nomura Emerging Markets Fund Class C	12.22%	20.47%	1.09%	2.03%	0.69%	2.58%	0.61%	0.00%	0.00%	1.03%	0.08%
PEAFX PIMCO RAE Emerging Markets Fund Class A	2.67%	2.97%	1.01%	4.01%	11.33%	9.19%	7.05%	2.48%	11.05%	8.07%	2.59%

Frequently Asked Questions

Can I hold both PEAFX and DEMCX in my portfolio?

PEAFX and DEMCX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEAFX or DEMCX?

DEMCX has higher volatility (25.07%) compared to PEAFX (5.08%). In terms of maximum drawdown, PEAFX dropped -47.18% vs DEMCX's -63.54%.

Which has better risk-adjusted returns?

DEMCX currently has the higher Sharpe Ratio (2.75 vs 1.04), 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.