DEMSX Performance — Emerging Markets Small Cap Portfolio, Institutional Class Shares
Data updated: 2026-09-24
DEMSX returned +1.79% year to date and +7.47% over one year to Jul 2026. Annualised returns are +8.99% over 3 years and +4.46% over 5 years. The fund trailed its Emerging Markets Equity category average: $100 invested three years ago grew to $129, against $164 for the category, and to $107 over one year, against $134. Volatility over the past three years was 13.62% a year. In the 12 months to Jul 2026 the fund lost a net $370.4M, and assets reached $3.50B.
DEMSX Growth of $100
What $100 invested in Emerging Markets Small Cap Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | DEMSX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $107 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $129 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $124 | $143 |
| Since data start (Aug 2019 – Jul 2026) | $175 | $188 |
DEMSX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.79% |
| 1 year | +7.47% |
| 3 years (annualised) | +8.99% |
| 5 years (annualised) | +4.46% |
DEMSX Annual Returns
Calendar-year total returns of Emerging Markets Small Cap Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +1.79% |
| 2025 | +18.99% |
| 2024 | +4.92% |
| 2023 | +16.29% |
| 2022 | −15.28% |
| 2021 | +14.57% |
| 2020 | +13.81% |
| 2019 (Aug–Dec) | +7.40% |
DEMSX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.8% | +3.6% | −8.8% | +10.2% | +0.7% | −1.9% | −6.5% | — | — | — | — | — |
| 2025 | −1.3% | −0.9% | +0.8% | +1.8% | +6.0% | +5.7% | +0.3% | +3.7% | +2.3% | −0.1% | −1.2% | +0.9% |
| 2024 | −3.5% | +3.4% | +0.8% | +2.1% | +1.7% | +1.4% | +0.2% | +0.8% | +5.4% | −4.3% | −1.2% | −1.4% |
| 2023 | +6.6% | −3.5% | +1.7% | +0.5% | −1.0% | +4.5% | +5.0% | −3.2% | −1.8% | −4.1% | +8.1% | +3.4% |
| 2022 | −3.2% | −1.3% | 0.0% | −5.1% | +0.4% | −7.3% | +1.1% | +0.6% | −10.4% | −0.4% | +12.0% | −1.2% |
| 2021 | −1.2% | +5.7% | +2.6% | +5.0% | +2.0% | +3.1% | −2.6% | +1.4% | −3.0% | −0.1% | −2.6% | +3.9% |
| 2020 | −5.2% | −6.0% | −23.2% | +14.0% | +2.6% | +8.2% | +7.6% | +2.9% | −0.7% | −0.1% | +12.2% | +6.6% |
| 2019 | — | — | — | — | — | — | — | −4.2% | +1.9% | +3.8% | −0.9% | +6.9% |
DEMSX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 13.62%
- 3-year Sharpe ratio: 0.33 (vs 4.5% risk-free rate)
- Best month: +10.21% (Apr 2026)
- Worst month: −8.75% (Mar 2026)
DEMSX Fund Flows
Monthly money in and out of Emerging Markets Small Cap Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$370.4M
- 12-month gross sales (incl. reinvestments): $460.6M
- Sales ÷ redemptions: 0.55×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $70.6M | $43.7M | $27.0M |
| Jun 2026 | $49.6M | $43.6M | $6.0M |
| May 2026 | $26.5M | $117.5M | −$90.9M |
| Apr 2026 | $21.9M | $95.7M | −$73.7M |
| Mar 2026 | $29.0M | $154.3M | −$125.3M |
| Feb 2026 | $20.5M | $28.5M | −$8.0M |
| Jan 2026 | $34.4M | $67.3M | −$32.9M |
| Dec 2025 | $96.6M | $148.0M | −$51.4M |
| Nov 2025 | $12.4M | $28.9M | −$16.5M |
| Oct 2025 | $23.8M | $35.2M | −$11.4M |
| Sep 2025 | $59.5M | $40.5M | $19.0M |
| Aug 2025 | $15.7M | $27.9M | −$12.2M |
DEMSX Assets Under Management
Net assets of Emerging Markets Small Cap Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $3.50B |
| 2026-04-30 | $3.88B |
| 2026-01-31 | $3.93B |
| 2025-10-31 | $3.91B |
| 2025-07-31 | $3.73B |
| 2025-04-30 | $3.37B |
| 2025-01-31 | $3.49B |
| 2024-10-31 | $3.81B |
| 2024-07-31 | $4.03B |
| 2024-04-30 | $4.05B |
| 2024-01-31 | $3.96B |
| 2023-10-31 | $3.80B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.