UMEMX vs. FERGX

Last updated Jun 5, 2026

UMEMX (Columbia Emerging Markets Fund) and FERGX (Fidelity SAI Emerging Markets Index Fund) are both Emerging Markets Diversified funds. Over the past 5 years, UMEMX returned 4.16%/yr vs 7.47%/yr for FERGX. Their correlation of 0.95 suggests significant overlap in exposure. UMEMX charges 1.20%/yr vs 0.07%/yr for FERGX.

Performance

UMEMX vs. FERGX - Performance Comparison

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

Returns By Period

In the year-to-date period, UMEMX achieves a 38.77% return, which is significantly higher than FERGX's 28.43% return.

UMEMX

• 1D: -0.65%
• 1M: 8.11%
• YTD: 38.77%
• 6M: 42.16%
• 1Y: 67.37%
• 3Y*: 26.88%
• 5Y*: 4.16%
• 10Y*: 10.56%

FERGX

• 1D: -1.01%
• 1M: 7.92%
• YTD: 28.43%
• 6M: 31.24%
• 1Y: 55.27%
• 3Y*: 24.38%
• 5Y*: 7.47%
• 10Y*: —

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

UMEMX vs. FERGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMEMX Columbia Emerging Markets Fund	38.77%	31.14%	6.68%	8.89%	-33.02%	-7.30%	33.83%	31.11%	-21.27%	45.10%
FERGX Fidelity SAI Emerging Markets Index Fund	28.43%	33.86%	6.59%	9.41%	-20.19%	-3.05%	17.46%	18.22%	-14.52%	33.62%

Correlation

The correlation between UMEMX and FERGX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.95

The correlation between UMEMX and FERGX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

UMEMX vs. FERGX — 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: 94
UMEMX Sortino Ratio Rank: 83
UMEMX Omega Ratio Rank: 86
UMEMX Calmar Ratio Rank: 92
UMEMX Martin Ratio Rank: 93

FERGX

FERGX Risk / Return Rank: 88
FERGX Sharpe Ratio Rank: 93
FERGX Sortino Ratio Rank: 85
FERGX Omega Ratio Rank: 86
FERGX Calmar Ratio Rank: 88
FERGX Martin Ratio Rank: 88

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. FERGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Emerging Markets Fund (UMEMX) and Fidelity SAI Emerging Markets Index Fund (FERGX). 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.

	UMEMX	FERGX	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.22	+0.02
Sortino ratio: Return per unit of downside risk	3.94	4.09	-0.15
Omega ratio: Gain probability vs. loss probability	1.59	1.60	-0.01
Calmar ratio: Return relative to maximum drawdown	4.85	4.33	+0.52
Martin ratio: Return relative to average drawdown	19.33	17.05	+2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMEMX vs. FERGX - Sharpe Ratio Comparison

The current UMEMX Sharpe Ratio is 3.23, which is comparable to the FERGX Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of UMEMX and FERGX, 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

	UMEMX	FERGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	3.22	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.44	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.56	-0.23

Drawdowns

UMEMX vs. FERGX - Drawdown Comparison

The maximum UMEMX drawdown since its inception was -67.58%, which is greater than FERGX's maximum drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for UMEMX and FERGX.

Drawdown Indicators

	UMEMX	FERGX	Difference
Max Drawdown Largest peak-to-trough decline	-67.58%	-39.27%	-28.31%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-13.32%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-16.69%	-16.20%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-49.26%	-37.11%	-12.15%
Max Drawdown (10Y) Largest decline over 10 years	-51.61%	—	—
Current Drawdown Current decline from peak	-0.65%	-1.01%	+0.36%
Average Drawdown Average peak-to-trough decline	-21.45%	-14.33%	-7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	3.37%	+0.21%

Volatility

UMEMX vs. FERGX - Volatility Comparison

Columbia Emerging Markets Fund (UMEMX) has a higher volatility of 9.59% compared to Fidelity SAI Emerging Markets Index Fund (FERGX) at 7.72%. This indicates that UMEMX's price experiences larger fluctuations and is considered to be riskier than FERGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMEMX	FERGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.59%	7.72%	+1.87%
Volatility (6M) Calculated over the trailing 6-month period	18.76%	15.48%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	17.91%	+3.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	17.25%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	17.99%	+2.18%

UMEMX vs. FERGX - Expense Ratio Comparison

UMEMX has a 1.20% expense ratio, which is higher than FERGX's 0.08% expense ratio.

Dividends

UMEMX vs. FERGX - Dividend Comparison

UMEMX's dividend yield for the trailing twelve months is around 3.56%, more than FERGX's 2.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FERGX Fidelity SAI Emerging Markets Index Fund	2.08%	2.67%	2.40%	2.67%	2.51%	2.90%	1.49%	2.49%	2.58%	0.58%
UMEMX Columbia Emerging Markets Fund	3.56%	4.94%	1.29%	0.00%	0.00%	1.56%	1.15%	0.33%	0.12%	0.33%

Frequently Asked Questions

Can I hold both UMEMX and FERGX in my portfolio?

With a correlation of 0.94, UMEMX and FERGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UMEMX or FERGX?

UMEMX has higher volatility (9.59%) compared to FERGX (7.72%). In terms of maximum drawdown, UMEMX dropped -67.58% vs FERGX's -39.27%.

Which has better risk-adjusted returns?

UMEMX currently has the higher Sharpe Ratio (3.23 vs 3.22), 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.