SIVLX vs. DEMAX

Last updated Jun 3, 2026

SIVLX (Seafarer Overseas Value Fund Institutional Class) and DEMAX (Nomura Emerging Markets Fund Class A) are both Emerging Markets Equities funds. Both are actively managed. Over the past 5 years, SIVLX returned 10.03%/yr vs 25.12%/yr for DEMAX. A 0.67 correlation means they provide meaningful diversification when combined. SIVLX charges 1.05%/yr vs 1.42%/yr for DEMAX.

Performance

SIVLX vs. DEMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Seafarer Overseas Value Fund Institutional Class (SIVLX) and Nomura Emerging Markets Fund Class A (DEMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVLX achieves a 9.60% return, which is significantly lower than DEMAX's 107.50% return.

SIVLX

• 1D: 0.00%
• 1M: -0.59%
• YTD: 9.60%
• 6M: 10.93%
• 1Y: 30.03%
• 3Y*: 16.13%
• 5Y*: 10.03%
• 10Y*: —

DEMAX

• 1D: 2.40%
• 1M: 33.06%
• YTD: 107.50%
• 6M: 125.42%
• 1Y: 245.91%
• 3Y*: 65.05%
• 5Y*: 25.12%
• 10Y*: 21.19%

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

SIVLX vs. DEMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVLX Seafarer Overseas Value Fund Institutional Class	9.60%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%
DEMAX Nomura Emerging Markets Fund Class A	107.50%	86.33%	6.25%	17.34%	-28.85%	-2.32%	25.54%	24.05%	-17.32%	39.31%

Correlation

The correlation between SIVLX and DEMAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.67

Over the past year, the correlation between SIVLX and DEMAX has dropped to 0.47 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

SIVLX vs. DEMAX — Risk / Return Rank

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

SIVLX

SIVLX Risk / Return Rank: 61
SIVLX Sharpe Ratio Rank: 79
SIVLX Sortino Ratio Rank: 70
SIVLX Omega Ratio Rank: 79
SIVLX Calmar Ratio Rank: 40
SIVLX Martin Ratio Rank: 36

DEMAX

DEMAX Risk / Return Rank: 98
DEMAX Sharpe Ratio Rank: 100
DEMAX Sortino Ratio Rank: 96
DEMAX Omega Ratio Rank: 96
DEMAX Calmar Ratio Rank: 99
DEMAX Martin Ratio Rank: 99

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.

SIVLX vs. DEMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Seafarer Overseas Value Fund Institutional Class (SIVLX) and Nomura Emerging Markets Fund Class A (DEMAX). 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.

	SIVLX	DEMAX	Difference
Sharpe ratio Return per unit of total volatility	2.58	6.51	-3.93
Sortino ratio Return per unit of downside risk	3.50	5.42	-1.91
Omega ratio Gain probability vs. loss probability	1.52	1.86	-0.35
Calmar ratio Return relative to maximum drawdown	2.42	11.63	-9.21
Martin ratio Return relative to average drawdown	8.13	44.36	-36.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIVLX vs. DEMAX - Sharpe Ratio Comparison

The current SIVLX Sharpe Ratio is 2.58, which is lower than the DEMAX Sharpe Ratio of 6.51. The chart below compares the historical Sharpe Ratios of SIVLX and DEMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIVLX	DEMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	6.51	-3.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	1.00	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.52	+0.26

Drawdowns

SIVLX vs. DEMAX - Drawdown Comparison

The maximum SIVLX drawdown since its inception was -33.09%, smaller than the maximum DEMAX drawdown of -63.23%. Use the drawdown chart below to compare losses from any high point for SIVLX and DEMAX.

Drawdown Indicators

	SIVLX	DEMAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.09%	-63.23%	+30.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-21.03%	+8.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-22.75%	+10.24%
Max Drawdown (5Y) Largest decline over 5 years	-16.39%	-44.15%	+27.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.51%	—
Current Drawdown Current decline from peak	-5.39%	0.00%	-5.39%
Average Drawdown Average peak-to-trough decline	-5.60%	-18.75%	+13.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	5.51%	-1.80%

Volatility

SIVLX vs. DEMAX - Volatility Comparison

The current volatility for Seafarer Overseas Value Fund Institutional Class (SIVLX) is 3.79%, while Nomura Emerging Markets Fund Class A (DEMAX) has a volatility of 17.11%. This indicates that SIVLX experiences smaller price fluctuations and is considered to be less risky than DEMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVLX	DEMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	17.11%	-13.32%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	33.78%	-23.42%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	38.42%	-26.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	25.31%	-13.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.60%	23.13%	-10.53%

SIVLX vs. DEMAX - Expense Ratio Comparison

SIVLX has a 1.05% expense ratio, which is lower than DEMAX's 1.42% expense ratio.

Dividends

SIVLX vs. DEMAX - Dividend Comparison

SIVLX's dividend yield for the trailing twelve months is around 4.61%, less than DEMAX's 9.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMAX Nomura Emerging Markets Fund Class A	9.17%	19.03%	1.74%	2.76%	1.60%	3.16%	0.56%	0.57%	0.34%	1.59%	0.70%	0.03%
SIVLX Seafarer Overseas Value Fund Institutional Class	4.61%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIVLX and DEMAX in my portfolio?

SIVLX and DEMAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVLX or DEMAX?

DEMAX has higher volatility (17.11%) compared to SIVLX (3.79%). In terms of maximum drawdown, SIVLX dropped -33.09% vs DEMAX's -63.23%.

Which has better risk-adjusted returns?

DEMAX currently has the higher Sharpe Ratio (6.51 vs 2.58), 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.