PZIEX vs. IFN
PZIEX (Pzena Emerging Markets Value Fund Institutional Class) and IFN (Aberdeen India Fund) are both Emerging Markets Equities funds. Over the past 10 years, PZIEX returned 11.00%/yr vs 6.36%/yr for IFN. Their 0.40 correlation means their historical movements had little consistent relationship. PZIEX charges 1.08%/yr vs 0.01%/yr for IFN.
Performance
PZIEX vs. IFN - Performance Comparison
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Returns By Period
In the year-to-date period, PZIEX achieves a 11.34% return, which is significantly higher than IFN's -8.68% return. Over the past 10 years, PZIEX has outperformed IFN with an annualized return of 11.00%, while IFN has yielded a comparatively lower 6.36% annualized return.
PZIEX
- 1D
- 0.35%
- 1M
- 2.58%
- 6M
- -1.10%
- YTD
- 11.34%
- 1Y
- 28.39%
- 3Y*
- 16.01%
- 5Y*
- 11.78%
- 10Y*
- 11.00%
- ALL TIME*
- 9.21%
IFN
- 1D
- -0.26%
- 1M
- 0.09%
- 6M
- -7.67%
- YTD
- -8.68%
- 1Y
- -11.96%
- 3Y*
- 0.40%
- 5Y*
- 1.54%
- 10Y*
- 6.36%
- ALL TIME*
- 7.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.78M | $1.59M | $1.78M | |
| $0.00 | $0.00 | $0.00 |
PZIEX vs. IFN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 11.34% | 35.49% | 4.54% | 20.73% | -5.67% | 6.65% | 8.43% | 13.57% | -10.23% | 29.98% |
IFN Aberdeen India Fund | -8.68% | 0.42% | -2.26% | 36.48% | -15.85% | 22.31% | 12.25% | 11.27% | -5.33% | 37.15% |
Correlation
The correlation between PZIEX and IFN is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.40 |
Over the past year, the correlation between PZIEX and IFN has dropped to 0.16 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
PZIEX vs. IFN — Risk / Return Rank
PZIEX
IFN
PZIEX vs. IFN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena Emerging Markets Value Fund Institutional Class (PZIEX) and Aberdeen India Fund (IFN). 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.
| PZIEX | IFN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.26 | ||
| Sortino ratioReturn per unit of downside risk | +3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.90 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | -0.50 | +2.46 |
| Martin ratioReturn relative to average drawdown | 5.16 | -1.04 | +6.20 |
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Drawdowns
PZIEX vs. IFN - Drawdown Comparison
The maximum PZIEX drawdown since its inception was -44.59%, smaller than the maximum IFN drawdown of -71.52%. Use the drawdown chart below to compare losses from any high point for PZIEX and IFN.
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Drawdown Indicators
| PZIEX | IFN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -71.52% | +26.93% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -22.99% | +10.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -31.53% | +15.13% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | -31.53% | +7.31% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | -41.48% | -3.11% |
Current DrawdownCurrent decline from peak | -7.07% | -23.64% | +16.57% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -25.88% | +16.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 11.11% | -6.25% |
Volatility
PZIEX vs. IFN - Volatility Comparison
Pzena Emerging Markets Value Fund Institutional Class (PZIEX) has a higher volatility of 4.14% compared to Aberdeen India Fund (IFN) at 3.30%. This indicates that PZIEX's price experiences larger fluctuations and is considered to be riskier than IFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZIEX | IFN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 3.30% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 14.15% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 16.70% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 17.77% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.33% | 18.88% | -3.55% |
PZIEX vs. IFN - Expense Ratio Comparison
PZIEX has a 1.08% expense ratio, which is higher than IFN's 0.01% expense ratio.
Dividends
PZIEX vs. IFN - Dividend Comparison
PZIEX's dividend yield for the trailing twelve months is around 4.32%, less than IFN's 18.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IFN Aberdeen India Fund | 18.58% | 16.09% | 14.60% | 8.97% | 21.47% | 15.21% | 9.77% | 11.57% | 22.25% | 12.11% | 7.97% | 8.02% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.32% | 4.81% | 7.38% | 5.79% | 2.08% | 2.79% | 1.28% | 6.32% | 1.28% | 1.41% | 0.98% | 2.23% |
Frequently Asked Questions
PZIEX and IFN have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PZIEX has higher volatility (4.14%) compared to IFN (3.30%). In terms of maximum drawdown, PZIEX dropped -44.59% vs IFN's -71.52%.
PZIEX currently has the higher Sharpe Ratio (1.57 vs -0.69), 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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