XPMIX vs. YUMC

Last updated Jul 11, 2026

XPMIX (StepStone Private Markets Fund Class I) is Multistrategy fund actively managed by StepStone, while YUMC (Yum China Holdings, Inc.) is a stock. Over the past 5 years, XPMIX returned 12.85%/yr vs -6.67%/yr for YUMC. At a 0.18 correlation, their price movements are largely independent.

Performance

XPMIX vs. YUMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in StepStone Private Markets Fund Class I (XPMIX) and Yum China Holdings, Inc. (YUMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPMIX achieves a 5.73% return, which is significantly higher than YUMC's -8.79% return.

XPMIX

• 1D: 0.25%
• 1M: 0.95%
• 6M: 4.55%
• YTD: 5.73%
• 1Y: 10.06%
• 3Y*: 11.73%
• 5Y*: 12.85%
• 10Y*: —

YUMC

• 1D: 1.68%
• 1M: -1.76%
• 6M: -7.80%
• YTD: -8.79%
• 1Y: -8.11%
• 3Y*: -7.24%
• 5Y*: -6.67%
• 10Y*: —

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

XPMIX vs. YUMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XPMIX StepStone Private Markets Fund Class I	5.73%	11.78%	12.97%	12.21%	8.77%	30.00%	24.92%
YUMC Yum China Holdings, Inc.	-8.79%	1.18%	15.41%	-21.60%	10.75%	-11.99%	8.04%

Correlation

The correlation between XPMIX and YUMC is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Oct 1, 2020	0.18

The correlation between XPMIX and YUMC shifts across timeframes, from 0.18 (all time) to 0.29 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

XPMIX vs. YUMC — Risk / Return Rank

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

XPMIX

XPMIX Risk / Return Rank: 91
XPMIX Sharpe Ratio Rank: 90
XPMIX Sortino Ratio Rank: 93
XPMIX Omega Ratio Rank: 87
XPMIX Calmar Ratio Rank: 92
XPMIX Martin Ratio Rank: 93

YUMC

YUMC Risk / Return Rank: 31
YUMC Sharpe Ratio Rank: 31
YUMC Sortino Ratio Rank: 26
YUMC Omega Ratio Rank: 28
YUMC Calmar Ratio Rank: 36
YUMC Martin Ratio Rank: 33

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.

XPMIX vs. YUMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for StepStone Private Markets Fund Class I (XPMIX) and Yum China Holdings, Inc. (YUMC). 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.

	XPMIX	YUMC	Difference
Sharpe ratio: Return per unit of total volatility	2.42	-0.32	+2.75
Sortino ratio: Return per unit of downside risk	3.96	-0.30	+4.25
Omega ratio: Gain probability vs. loss probability	1.50	0.97	+0.53
Calmar ratio: Return relative to maximum drawdown	3.94	-0.27	+4.22
Martin ratio: Return relative to average drawdown	15.16	-0.63	+15.79

XPMIX vs. YUMC - Sharpe Ratio Comparison

The current XPMIX Sharpe Ratio is 2.42, which is higher than the YUMC Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of XPMIX and YUMC, 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

XPMIX vs. YUMC - Drawdown Comparison

The maximum XPMIX drawdown since its inception was -3.71%, smaller than the maximum YUMC drawdown of -56.49%. Use the drawdown chart below to compare losses from any high point for XPMIX and YUMC.

Drawdown Indicators

	XPMIX	YUMC	Difference
Max Drawdown Largest peak-to-trough decline	-3.71%	-56.49%	+52.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	-29.82%	+27.23%
Max Drawdown (3Y) Largest decline over 3 years	-3.13%	-51.42%	+48.29%
Max Drawdown (5Y) Largest decline over 5 years	-3.13%	-54.35%	+51.22%
Current Drawdown Current decline from peak	-0.12%	-33.30%	+33.18%
Average Drawdown Average peak-to-trough decline	-0.44%	-19.60%	+19.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	12.91%	-12.24%

Volatility

XPMIX vs. YUMC - Volatility Comparison

The current volatility for StepStone Private Markets Fund Class I (XPMIX) is 1.15%, while Yum China Holdings, Inc. (YUMC) has a volatility of 7.14%. This indicates that XPMIX experiences smaller price fluctuations and is considered to be less risky than YUMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XPMIX	YUMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	7.14%	-5.99%
Volatility (6M) Calculated over the trailing 6-month period	3.44%	19.22%	-15.78%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	25.38%	-21.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.91%	37.29%	-31.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.90%	35.61%	-25.71%

Dividends

XPMIX vs. YUMC - Dividend Comparison

XPMIX's dividend yield for the trailing twelve months is around 0.78%, less than YUMC's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
XPMIX StepStone Private Markets Fund Class I	0.78%	0.85%	1.31%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YUMC Yum China Holdings, Inc.	2.46%	2.01%	1.33%	1.23%	0.88%	0.96%	0.42%	1.00%	1.25%	0.25%

Frequently Asked Questions

Can I hold both XPMIX and YUMC in my portfolio?

XPMIX and YUMC have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XPMIX or YUMC?

YUMC has higher volatility (7.14%) compared to XPMIX (1.15%). In terms of maximum drawdown, XPMIX dropped -3.71% vs YUMC's -56.49%.

Which has better risk-adjusted returns?

XPMIX currently has the higher Sharpe Ratio (2.42 vs -0.32), 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.