PGEIX vs. GMAQX
PGEIX (Polen Global Emerging Markets Growth Fund) and GMAQX (GMO Emerging Markets ex-China Fund) are both Emerging Markets Diversified funds. Over the past year, PGEIX returned -5.26% vs 59.64% for GMAQX. A 0.70 correlation means they provide meaningful diversification when combined. PGEIX charges 1.25%/yr vs 0.67%/yr for GMAQX.
Performance
PGEIX vs. GMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, PGEIX achieves a -7.92% return, which is significantly lower than GMAQX's 40.70% return.
PGEIX
- 1D
- -2.86%
- 1M
- -7.83%
- 6M
- -11.73%
- YTD
- -7.92%
- 1Y
- -5.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMAQX
- 1D
- -1.63%
- 1M
- -5.50%
- 6M
- 30.89%
- YTD
- 40.70%
- 1Y
- 59.64%
- 3Y*
- 27.53%
- 5Y*
- —
- 10Y*
- —
PGEIX vs. GMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PGEIX Polen Global Emerging Markets Growth Fund | -7.92% | 16.07% |
GMAQX GMO Emerging Markets ex-China Fund | 40.70% | 32.54% |
Correlation
The correlation between PGEIX and GMAQX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025 | 0.70 |
The correlation between PGEIX and GMAQX has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.
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Return for Risk
PGEIX vs. GMAQX — Risk / Return Rank
PGEIX
GMAQX
PGEIX vs. GMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Polen Global Emerging Markets Growth Fund (PGEIX) 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.
| PGEIX | GMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.61 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.50 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 4.42 | -4.58 |
| Martin ratioReturn relative to average drawdown | -0.40 | 13.56 | -13.96 |
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Drawdowns
PGEIX vs. GMAQX - Drawdown Comparison
The maximum PGEIX drawdown since its inception was -31.29%, smaller than the maximum GMAQX drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for PGEIX and GMAQX.
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Drawdown Indicators
| PGEIX | GMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.29% | -41.97% | +10.68% |
Max Drawdown (1Y)Largest decline over 1 year | -31.29% | -13.77% | -17.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.64% | — |
Current DrawdownCurrent decline from peak | -31.29% | -10.92% | -20.37% |
Average DrawdownAverage peak-to-trough decline | -6.50% | -16.49% | +9.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.71% | 4.48% | +7.23% |
Volatility
PGEIX vs. GMAQX - Volatility Comparison
Polen Global Emerging Markets Growth Fund (PGEIX) has a higher volatility of 12.59% compared to GMO Emerging Markets ex-China Fund (GMAQX) at 10.05%. This indicates that PGEIX'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
| PGEIX | GMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.59% | 10.05% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 36.29% | 22.96% | +13.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.98% | 24.60% | +13.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.20% | 18.09% | +17.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.20% | 18.09% | +17.11% |
PGEIX vs. GMAQX - Expense Ratio Comparison
PGEIX has a 1.25% expense ratio, which is higher than GMAQX's 0.67% expense ratio.
Dividends
PGEIX vs. GMAQX - Dividend Comparison
PGEIX has not paid dividends to shareholders, while GMAQX's dividend yield for the trailing twelve months is around 11.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GMAQX GMO Emerging Markets ex-China Fund | 11.75% | 9.43% | 32.28% | 6.76% | 4.94% | 0.66% |
PGEIX Polen Global Emerging Markets Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PGEIX and GMAQX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGEIX has higher volatility (12.59%) compared to GMAQX (10.05%). In terms of maximum drawdown, PGEIX dropped -31.29% vs GMAQX's -41.97%.
GMAQX currently has the higher Sharpe Ratio (2.48 vs -0.13), 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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