AEMSX vs. LCSMX

Last updated Jun 23, 2026

AEMSX (abrdn Emerging Markets Instl Svc) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past 5 years, AEMSX returned 8.16%/yr vs 13.05%/yr for LCSMX. A 0.78 correlation means they provide meaningful diversification when combined. AEMSX charges 1.25%/yr vs 0.00%/yr for LCSMX.

Performance

AEMSX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Emerging Markets Instl Svc (AEMSX) and Martin Currie SMA-Shares Series EM Fund (LCSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEMSX achieves a 33.25% return, which is significantly lower than LCSMX's 70.59% return.

AEMSX

• 1D: 2.82%
• 1M: 7.18%
• YTD: 33.25%
• 6M: 34.79%
• 1Y: 63.48%
• 3Y*: 21.49%
• 5Y*: 8.16%
• 10Y*: 10.26%

LCSMX

• 1D: 5.38%
• 1M: 13.52%
• YTD: 70.59%
• 6M: 78.21%
• 1Y: 131.44%
• 3Y*: 31.04%
• 5Y*: 13.05%
• 10Y*: —

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

AEMSX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AEMSX abrdn Emerging Markets Instl Svc	33.25%	32.19%	3.81%	6.49%	-26.28%	7.03%	27.52%	20.24%	-17.07%
LCSMX Martin Currie SMA-Shares Series EM Fund	70.59%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%

Correlation

The correlation between AEMSX and LCSMX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.78

The correlation between AEMSX and LCSMX shifts across timeframes, from 0.78 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AEMSX vs. LCSMX — Risk / Return Rank

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

AEMSX

AEMSX Risk / Return Rank: 89
AEMSX Sharpe Ratio Rank: 93
AEMSX Sortino Ratio Rank: 82
AEMSX Omega Ratio Rank: 86
AEMSX Calmar Ratio Rank: 92
AEMSX Martin Ratio Rank: 91

LCSMX

LCSMX Risk / Return Rank: 97
LCSMX Sharpe Ratio Rank: 99
LCSMX Sortino Ratio Rank: 94
LCSMX Omega Ratio Rank: 96
LCSMX Calmar Ratio Rank: 98
LCSMX Martin Ratio Rank: 98

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.

AEMSX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Emerging Markets Instl Svc (AEMSX) and Martin Currie SMA-Shares Series EM Fund (LCSMX). 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.

	AEMSX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.92	4.51	-1.59
Sortino ratio: Return per unit of downside risk	3.56	4.57	-1.01
Omega ratio: Gain probability vs. loss probability	1.55	1.78	-0.22
Calmar ratio: Return relative to maximum drawdown	4.59	8.59	-4.00
Martin ratio: Return relative to average drawdown	17.19	31.02	-13.84

AEMSX vs. LCSMX - Sharpe Ratio Comparison

The current AEMSX Sharpe Ratio is 2.92, which is lower than the LCSMX Sharpe Ratio of 4.51. The chart below compares the historical Sharpe Ratios of AEMSX and LCSMX, 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

AEMSX vs. LCSMX - Drawdown Comparison

The maximum AEMSX drawdown since its inception was -38.58%, roughly equal to the maximum LCSMX drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for AEMSX and LCSMX.

Drawdown Indicators

	AEMSX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-39.72%	+1.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.70%	-15.39%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-23.31%	+4.59%
Max Drawdown (5Y) Largest decline over 5 years	-36.65%	-39.72%	+3.07%
Max Drawdown (10Y) Largest decline over 10 years	-38.58%	—	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-12.55%	-13.68%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	4.25%	-0.60%

Volatility

AEMSX vs. LCSMX - Volatility Comparison

The current volatility for abrdn Emerging Markets Instl Svc (AEMSX) is 11.67%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 17.18%. This indicates that AEMSX experiences smaller price fluctuations and is considered to be less risky than LCSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEMSX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	17.18%	-5.51%
Volatility (6M) Calculated over the trailing 6-month period	19.42%	27.15%	-7.73%
Volatility (1Y) Calculated over the trailing 1-year period	21.53%	29.33%	-7.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.23%	20.36%	-1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.93%	20.63%	-1.70%

AEMSX vs. LCSMX - Expense Ratio Comparison

AEMSX has a 1.25% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

AEMSX vs. LCSMX - Dividend Comparison

AEMSX's dividend yield for the trailing twelve months is around 4.61%, more than LCSMX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEMSX abrdn Emerging Markets Instl Svc	4.61%	6.14%	0.95%	1.39%	1.83%	22.97%	0.68%	1.82%	1.57%	1.09%	1.08%	2.32%
LCSMX Martin Currie SMA-Shares Series EM Fund	0.58%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AEMSX and LCSMX in my portfolio?

With a correlation of 0.91, AEMSX and LCSMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AEMSX or LCSMX?

LCSMX has higher volatility (17.18%) compared to AEMSX (11.67%). In terms of maximum drawdown, AEMSX dropped -38.58% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (4.51 vs 2.92), 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.