EMF vs IHD: Correlation
Measured on weekly returns over the past three years, Templeton Emerging Markets Fund (EMF) and Voya Emerging Markets High Income Dividend Equity Fund (IHD) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMF and IHD?
Across a 3-year window, the weekly returns of EMF and IHD correlate at 0.72, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 249.8 %².
Among the 21 assets we track against EMF, IHD ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EMF outperformed by 19.4 percentage points (+61.6% for EMF against +42.2% for IHD).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EMF vs IHD: side by side
| EMF (Templeton Emerging Markets Fund) | IHD (Voya Emerging Markets High Income Dividend Equity Fund) | |
|---|---|---|
| 1-year return | +61.6% | +42.2% |
| 5-year return | +91.4% | +78.4% |
| Volatility (ann.) | 21.0% | 16.6% |
| Beta vs S&P 500 | 0.93 | 0.65 |
| Max drawdown (3Y) | -19.5% | -14.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 2.4 | 3.1 |
| Dividend yield | 3.91% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMF | IHD |
|---|---|---|
| 2022 | -21.5% | -17.2% |
| 2023 | +8.8% | +13.9% |
| 2024 | +6.6% | +6.7% |
| 2025 | +58.2% | +40.3% |
| 2026 | +36.1% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMF and IHD good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EMF and IHD?
As of 2026-08-27, the correlation of weekly returns between EMF and IHD is 0.72 over 3 years, 0.64 over 1 year and 0.78 over 5 years.
Is IHD a good diversifier for EMF?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emf-vs-ihd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emf-vs-ihd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EMF correlations · IHD correlations
