In the field of education there has been an abundance of research on the effects of phonological awareness with reading comprehension. Phonological Awareness is a term that is used that includes phonemic awareness. In addition to phonemic awareness phonological awareness includes rhymes, words, syllables, onsets and rimes as well as phonemes. When phonological awareness is accomplished then reading comprehension will flourish.
Please feel free to take a gander at the website as it contains various information on the effect of phonological awareness.