ESSAX Performance — Ashmore Emerging Markets Small-Cap Equity Fund, Class A
Data updated: 2026-09-28
ESSAX returned +8.28% year to date and +35.84% over one year to Jan 2026. Annualised returns are +15.57% over 3 years and +6.98% over 5 years. The fund trailed its Emerging Markets Equity category average: $100 invested three years ago grew to $154, against $155 for the category, and to $136 over one year, against $138. Volatility over the past three years was 15.60% a year. In the 12 months to Jul 2026 the fund lost a net $2.9M, and assets reached $4.49M.
ESSAX Growth of $100
What $100 invested in Ashmore Emerging Markets Small-Cap Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | ESSAX | Category average |
|---|---|---|
| 1 year (Feb 2025 – Jan 2026) | $136 | $138 |
| 3 years (Feb 2023 – Jan 2026) | $154 | $155 |
| 5 years (Feb 2021 – Jan 2026) | $140 | $134 |
| Since data start (Aug 2019 – Jan 2026) | $214 | $171 |
ESSAX Trailing Returns
Total returns to Jan 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +8.28% |
| 1 year | +35.84% |
| 3 years (annualised) | +15.57% |
| 5 years (annualised) | +6.98% |
ESSAX Annual Returns
Calendar-year total returns of Ashmore Emerging Markets Small-Cap Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jan) | +8.28% |
| 2025 | +25.73% |
| 2024 | +3.34% |
| 2023 | +19.83% |
| 2022 | −24.49% |
| 2021 | +11.72% |
| 2020 | +43.00% |
| 2019 (Aug–Dec) | +5.13% |
ESSAX 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 | +8.3% | — | — | — | — | — | — | — | — | — | — | — |
| 2025 | +0.2% | −1.5% | −1.5% | +1.8% | +8.1% | +7.2% | −1.8% | +3.0% | +3.9% | +4.2% | −1.2% | +1.5% |
| 2024 | −4.5% | +4.2% | +1.7% | +1.6% | +3.0% | +1.7% | −1.6% | +3.1% | +2.1% | −5.4% | −3.2% | +1.3% |
| 2023 | +9.2% | −4.7% | +3.0% | −2.1% | +1.8% | +5.9% | +2.9% | −6.9% | −2.7% | −5.7% | +15.0% | +4.5% |
| 2022 | −8.5% | −6.0% | −0.1% | −8.2% | +0.5% | −8.7% | +2.0% | −0.1% | −8.1% | +1.3% | +10.0% | −0.1% |
| 2021 | +1.5% | +7.5% | −0.3% | +2.1% | +0.6% | +3.6% | +1.0% | −0.4% | −4.2% | +3.3% | −5.5% | +2.6% |
| 2020 | −1.8% | −5.8% | −23.1% | +14.4% | +11.0% | +11.2% | +9.8% | +3.2% | +2.3% | +1.7% | +10.6% | +9.5% |
| 2019 | — | — | — | — | — | — | — | −4.8% | −0.1% | +5.0% | +0.2% | +5.0% |
ESSAX Risk
Risk measures from monthly returns over Feb 2023 – Jan 2026.
- 3-year volatility (annualised): 15.60%
- 3-year Sharpe ratio: 0.71 (vs 4.5% risk-free rate)
- Best month: +15.05% (Nov 2023)
- Worst month: −6.90% (Aug 2023)
ESSAX Fund Flows
Monthly money in and out of Ashmore Emerging Markets Small-Cap Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.9M
- 12-month gross sales (incl. reinvestments): $4.1M
- Sales ÷ redemptions: 0.59×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $0 | $0 | $0 |
| Jun 2026 | $0 | $14K | −$14K |
| May 2026 | $0 | $10K | −$10K |
| Apr 2026 | $0 | $4K | −$4K |
| Mar 2026 | $7K | $1 | $7K |
| Feb 2026 | $4.0M | $6.4M | −$2.4M |
| Jan 2026 | $0 | $438K | −$438K |
| Dec 2025 | $26K | $21K | $5K |
| Nov 2025 | $94K | $71K | $23K |
| Oct 2025 | $14K | $54K | −$39K |
| Sep 2025 | $3K | $11K | −$8K |
| Aug 2025 | $15K | $5K | $10K |
ESSAX Assets Under Management
Net assets of Ashmore Emerging Markets Small-Cap Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $4.49M |
| 2026-04-30 | $4.40M |
| 2026-01-30 | $6.34M |
| 2025-10-31 | $6.26M |
| 2025-07-31 | $5.65M |
| 2025-04-30 | $4.96M |
| 2025-01-31 | $7.45M |
| 2024-10-31 | $10.21M |
| 2024-07-31 | $10.37M |
| 2024-04-30 | $10.10M |
| 2024-01-31 | $9.50M |
| 2023-10-31 | $8.49M |
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.