USEMX vs. HLFMX
Compare and contrast key facts about USAA Emerging Markets Fund (USEMX) and Harding Loevner Frontier Emerging Markets Fund (HLFMX).
USEMX is managed by Victory. It was launched on Nov 6, 1994. HLFMX is managed by Harding Loevner. It was launched on May 26, 2008.
Performance
USEMX vs. HLFMX - Performance Comparison
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USEMX vs. HLFMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USEMX USAA Emerging Markets Fund | 4.33% | 36.50% | 5.13% | 16.07% | -20.24% | -1.22% | 16.74% | 22.91% | -20.05% | 33.55% |
HLFMX Harding Loevner Frontier Emerging Markets Fund | -0.11% | 16.95% | 8.76% | 10.43% | -18.91% | 10.18% | 0.11% | 10.88% | -15.45% | 25.08% |
Returns By Period
In the year-to-date period, USEMX achieves a 4.33% return, which is significantly higher than HLFMX's -0.11% return. Over the past 10 years, USEMX has outperformed HLFMX with an annualized return of 8.46%, while HLFMX has yielded a comparatively lower 4.15% annualized return.
USEMX
- 1D
- 2.66%
- 1M
- -8.78%
- YTD
- 4.33%
- 6M
- 10.44%
- 1Y
- 36.50%
- 3Y*
- 17.81%
- 5Y*
- 5.32%
- 10Y*
- 8.46%
HLFMX
- 1D
- 2.06%
- 1M
- -5.71%
- YTD
- -0.11%
- 6M
- 3.25%
- 1Y
- 15.51%
- 3Y*
- 11.57%
- 5Y*
- 4.87%
- 10Y*
- 4.15%
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USEMX vs. HLFMX - Expense Ratio Comparison
USEMX has a 1.47% expense ratio, which is lower than HLFMX's 1.60% expense ratio.
Return for Risk
USEMX vs. HLFMX — Risk / Return Rank
USEMX
HLFMX
USEMX vs. HLFMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USAA Emerging Markets Fund (USEMX) 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.
| USEMX | HLFMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 1.36 | +0.69 |
Sortino ratioReturn per unit of downside risk | 2.63 | 1.85 | +0.78 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.27 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.41 | +1.43 |
Martin ratioReturn relative to average drawdown | 11.29 | 5.03 | +6.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USEMX | HLFMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.36 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.48 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.35 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.07 | +0.20 |
Correlation
The correlation between USEMX and HLFMX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
USEMX vs. HLFMX - Dividend Comparison
USEMX's dividend yield for the trailing twelve months is around 8.37%, more than HLFMX's 3.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USEMX USAA Emerging Markets Fund | 8.37% | 8.73% | 3.20% | 1.83% | 1.73% | 0.70% | 1.04% | 0.32% | 1.29% | 0.33% | 0.91% | 0.82% |
HLFMX Harding Loevner Frontier Emerging Markets Fund | 3.57% | 3.56% | 1.88% | 1.77% | 2.28% | 0.83% | 1.61% | 1.97% | 1.34% | 1.90% | 1.01% | 1.13% |
Drawdowns
USEMX vs. HLFMX - Drawdown Comparison
The maximum USEMX drawdown since its inception was -64.84%, roughly equal to the maximum HLFMX drawdown of -63.95%. Use the drawdown chart below to compare losses from any high point for USEMX and HLFMX.
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Drawdown Indicators
| USEMX | HLFMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.84% | -63.95% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -12.93% | -11.09% | -1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -35.49% | -28.37% | -7.12% |
Max Drawdown (10Y)Largest decline over 10 years | -40.29% | -46.61% | +6.32% |
Current DrawdownCurrent decline from peak | -10.62% | -9.26% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -19.39% | -19.38% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 3.11% | +0.15% |
Volatility
USEMX vs. HLFMX - Volatility Comparison
USAA Emerging Markets Fund (USEMX) has a higher volatility of 9.03% compared to Harding Loevner Frontier Emerging Markets Fund (HLFMX) at 6.73%. This indicates that USEMX'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
| USEMX | HLFMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.03% | 6.73% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 13.82% | 8.72% | +5.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.31% | 12.03% | +6.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.42% | 10.23% | +6.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 11.79% | +5.76% |