UMEMX vs. DEMIX

Last updated Jun 24, 2026

UMEMX (Columbia Emerging Markets Fund) and DEMIX (Delaware Emerging Markets Fund) are both Emerging Markets Diversified funds. Over the past 10 years, UMEMX returned 11.00%/yr vs 23.71%/yr for DEMIX. Their correlation of 0.87 suggests significant overlap in exposure. UMEMX charges 1.20%/yr vs 1.26%/yr for DEMIX.

Performance

UMEMX vs. DEMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Emerging Markets Fund (UMEMX) and Delaware Emerging Markets Fund (DEMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMEMX achieves a 41.63% return, which is significantly lower than DEMIX's 145.11% return. Over the past 10 years, UMEMX has underperformed DEMIX with an annualized return of 11.00%, while DEMIX has yielded a comparatively higher 23.71% annualized return.

UMEMX

• 1D: 0.78%
• 1M: 9.15%
• YTD: 41.63%
• 6M: 43.11%
• 1Y: 69.76%
• 3Y*: 27.08%
• 5Y*: 4.64%
• 10Y*: 11.00%

DEMIX

• 1D: 4.36%
• 1M: 29.09%
• YTD: 145.11%
• 6M: 162.34%
• 1Y: 271.84%
• 3Y*: 74.82%
• 5Y*: 30.44%
• 10Y*: 23.71%

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

UMEMX vs. DEMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMEMX Columbia Emerging Markets Fund	41.63%	31.14%	6.68%	8.89%	-33.02%	-7.30%	33.83%	31.11%	-21.27%	46.95%
DEMIX Delaware Emerging Markets Fund	145.11%	86.79%	6.52%	17.59%	-28.66%	-2.08%	26.09%	24.33%	-17.10%	41.98%

Correlation

The correlation between UMEMX and DEMIX 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 (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 31, 1997	0.87

The correlation between UMEMX and DEMIX shifts across timeframes, from 0.75 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

UMEMX vs. DEMIX — Risk / Return Rank

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

UMEMX

UMEMX Risk / Return Rank: 89
UMEMX Sharpe Ratio Rank: 93
UMEMX Sortino Ratio Rank: 80
UMEMX Omega Ratio Rank: 86
UMEMX Calmar Ratio Rank: 93
UMEMX Martin Ratio Rank: 93

DEMIX

DEMIX Risk / Return Rank: 98
DEMIX Sharpe Ratio Rank: 100
DEMIX Sortino Ratio Rank: 96
DEMIX Omega Ratio Rank: 96
DEMIX Calmar Ratio Rank: 99
DEMIX 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.

UMEMX vs. DEMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Emerging Markets Fund (UMEMX) and Delaware Emerging Markets Fund (DEMIX). 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.

	UMEMX	DEMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.92	6.06	-3.14
Sortino ratio: Return per unit of downside risk	3.47	4.89	-1.42
Omega ratio: Gain probability vs. loss probability	1.55	1.81	-0.26
Calmar ratio: Return relative to maximum drawdown	4.95	13.05	-8.10
Martin ratio: Return relative to average drawdown	18.64	47.63	-28.98

UMEMX vs. DEMIX - Sharpe Ratio Comparison

The current UMEMX Sharpe Ratio is 2.92, which is lower than the DEMIX Sharpe Ratio of 6.06. The chart below compares the historical Sharpe Ratios of UMEMX and DEMIX, 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

UMEMX vs. DEMIX - Drawdown Comparison

The maximum UMEMX drawdown since its inception was -67.58%, which is greater than DEMIX's maximum drawdown of -63.15%. Use the drawdown chart below to compare losses from any high point for UMEMX and DEMIX.

Drawdown Indicators

	UMEMX	DEMIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.58%	-63.15%	-4.43%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-21.01%	+6.69%
Max Drawdown (3Y) Largest decline over 3 years	-16.69%	-22.62%	+5.93%
Max Drawdown (5Y) Largest decline over 5 years	-49.26%	-42.96%	-6.30%
Max Drawdown (10Y) Largest decline over 10 years	-51.61%	-46.29%	-5.32%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-21.42%	-18.43%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	5.74%	-1.95%

Volatility

UMEMX vs. DEMIX - Volatility Comparison

The current volatility for Columbia Emerging Markets Fund (UMEMX) is 12.96%, while Delaware Emerging Markets Fund (DEMIX) has a volatility of 25.62%. This indicates that UMEMX experiences smaller price fluctuations and is considered to be less risky than DEMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMEMX	DEMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.96%	25.62%	-12.66%
Volatility (6M) Calculated over the trailing 6-month period	21.94%	41.21%	-19.27%
Volatility (1Y) Calculated over the trailing 1-year period	24.27%	45.34%	-21.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	27.58%	-6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.49%	24.36%	-3.87%

UMEMX vs. DEMIX - Expense Ratio Comparison

UMEMX has a 1.20% expense ratio, which is lower than DEMIX's 1.26% expense ratio.

Dividends

UMEMX vs. DEMIX - Dividend Comparison

UMEMX's dividend yield for the trailing twelve months is around 3.49%, less than DEMIX's 7.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEMIX Delaware Emerging Markets Fund	7.74%	18.97%	1.99%	2.95%	1.89%	3.42%	0.87%	0.80%	0.65%	1.80%	0.94%	0.30%
UMEMX Columbia Emerging Markets Fund	3.49%	4.94%	1.29%	0.00%	0.00%	1.56%	1.15%	0.33%	0.12%	0.33%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UMEMX and DEMIX in my portfolio?

UMEMX and DEMIX 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.

Which is riskier, UMEMX or DEMIX?

DEMIX has higher volatility (25.62%) compared to UMEMX (12.96%). In terms of maximum drawdown, UMEMX dropped -67.58% vs DEMIX's -63.15%.

Which has better risk-adjusted returns?

DEMIX currently has the higher Sharpe Ratio (6.06 vs 2.92), 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.