PGEIX vs. HLFMX
PGEIX (Polen Global Emerging Markets Growth Fund) and HLFMX (Harding Loevner Frontier Emerging Markets Fund) are both Emerging Markets Diversified funds. Over the past year, PGEIX returned -1.66% vs 11.78% for HLFMX. At a 0.45 correlation, their price movements are largely independent. PGEIX charges 1.25%/yr vs 1.60%/yr for HLFMX.
Performance
PGEIX vs. HLFMX - Performance Comparison
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Returns By Period
In the year-to-date period, PGEIX achieves a -5.22% return, which is significantly lower than HLFMX's 5.49% return.
PGEIX
- 1D
- 0.32%
- 1M
- -5.41%
- 6M
- -9.13%
- YTD
- -5.22%
- 1Y
- -1.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HLFMX
- 1D
- 0.11%
- 1M
- -0.42%
- 6M
- -0.53%
- YTD
- 5.49%
- 1Y
- 11.78%
- 3Y*
- 10.75%
- 5Y*
- 4.88%
- 10Y*
- 4.23%
PGEIX vs. HLFMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PGEIX Polen Global Emerging Markets Growth Fund | -5.22% | 16.07% |
HLFMX Harding Loevner Frontier Emerging Markets Fund | 5.49% | 15.49% |
Correlation
The correlation between PGEIX and HLFMX 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 (All Time) Calculated using the full available price history since Apr 28, 2025 | 0.45 |
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Return for Risk
PGEIX vs. HLFMX — Risk / Return Rank
PGEIX
HLFMX
PGEIX vs. HLFMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Polen Global Emerging Markets Growth Fund (PGEIX) and Harding Loevner Frontier Emerging Markets Fund (HLFMX). 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 | HLFMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.20 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 1.10 | -1.15 |
| Martin ratioReturn relative to average drawdown | -0.11 | 2.79 | -2.90 |
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Drawdowns
PGEIX vs. HLFMX - Drawdown Comparison
The maximum PGEIX drawdown since its inception was -30.91%, smaller than the maximum HLFMX drawdown of -63.95%. Use the drawdown chart below to compare losses from any high point for PGEIX and HLFMX.
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Drawdown Indicators
| PGEIX | HLFMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.91% | -63.95% | +33.04% |
Max Drawdown (1Y)Largest decline over 1 year | -30.91% | -11.09% | -19.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.61% | — |
Current DrawdownCurrent decline from peak | -29.27% | -4.17% | -25.10% |
Average DrawdownAverage peak-to-trough decline | -6.41% | -19.17% | +12.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.55% | 4.38% | +7.17% |
Volatility
PGEIX vs. HLFMX - Volatility Comparison
Polen Global Emerging Markets Growth Fund (PGEIX) has a higher volatility of 12.61% compared to Harding Loevner Frontier Emerging Markets Fund (HLFMX) at 3.57%. This indicates that PGEIX's price experiences larger fluctuations and is considered to be riskier than HLFMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGEIX | HLFMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.61% | 3.57% | +9.04% |
Volatility (6M)Calculated over the trailing 6-month period | 36.20% | 10.77% | +25.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.87% | 12.18% | +25.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.16% | 10.63% | +24.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.16% | 11.92% | +23.24% |
PGEIX vs. HLFMX - Expense Ratio Comparison
PGEIX has a 1.25% expense ratio, which is lower than HLFMX's 1.60% expense ratio.
Dividends
PGEIX vs. HLFMX - Dividend Comparison
PGEIX has not paid dividends to shareholders, while HLFMX's dividend yield for the trailing twelve months is around 3.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLFMX Harding Loevner Frontier Emerging Markets Fund | 3.38% | 3.56% | 1.88% | 1.77% | 2.28% | 0.83% | 1.61% | 1.97% | 1.34% | 1.90% | 1.01% | 1.13% |
PGEIX Polen Global Emerging Markets Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PGEIX and HLFMX 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.
PGEIX has higher volatility (12.61%) compared to HLFMX (3.57%). In terms of maximum drawdown, PGEIX dropped -30.91% vs HLFMX's -63.95%.
HLFMX currently has the higher Sharpe Ratio (1.00 vs -0.04), 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.
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