BGELX vs. FQEMX

Last updated Apr 2, 2026

Compare and contrast key facts about Baillie Gifford Emerging Markets Equities Fund (BGELX) and Franklin Templeton SMACS: Series EM (FQEMX).

BGELX is managed by Baillie Gifford Funds. It was launched on Apr 3, 2003. FQEMX is managed by Franklin Templeton. It was launched on Nov 21, 2021.

Performance

BGELX vs. FQEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baillie Gifford Emerging Markets Equities Fund (BGELX) and Franklin Templeton SMACS: Series EM (FQEMX). The values are adjusted to include any dividend payments, if applicable.

BGELX vs. FQEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BGELX Baillie Gifford Emerging Markets Equities Fund	4.16%	40.75%	6.04%	14.42%	-26.46%	-7.68%
FQEMX Franklin Templeton SMACS: Series EM	12.06%	55.98%	6.67%	12.18%	-20.68%	0.32%

Returns By Period

In the year-to-date period, BGELX achieves a 4.16% return, which is significantly lower than FQEMX's 12.06% return.

BGELX

• 1D: 3.54%
• 1M: -10.46%
• YTD: 4.16%
• 6M: 9.36%
• 1Y: 39.30%
• 3Y*: 18.33%
• 5Y*: 3.33%
• 10Y*: —

FQEMX

• 1D: 3.12%
• 1M: -15.56%
• YTD: 12.06%
• 6M: 27.82%
• 1Y: 70.93%
• 3Y*: 25.83%
• 5Y*: —
• 10Y*: —

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

BGELX vs. FQEMX - Expense Ratio Comparison

BGELX has a 0.76% expense ratio, which is higher than FQEMX's 0.00% expense ratio.

BGELX

Baillie Gifford Emerging Markets Equities Fund

FQEMX

Franklin Templeton SMACS: Series EM

Return for Risk

BGELX vs. FQEMX — Risk / Return Rank

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

BGELX

BGELX Risk / Return Rank: 86
BGELX Sharpe Ratio Rank: 87
BGELX Sortino Ratio Rank: 83
BGELX Omega Ratio Rank: 84
BGELX Calmar Ratio Rank: 89
BGELX Martin Ratio Rank: 88

FQEMX

FQEMX Risk / Return Rank: 96
FQEMX Sharpe Ratio Rank: 98
FQEMX Sortino Ratio Rank: 96
FQEMX Omega Ratio Rank: 96
FQEMX Calmar Ratio Rank: 95
FQEMX Martin Ratio Rank: 95

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.

BGELX vs. FQEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baillie Gifford Emerging Markets Equities Fund (BGELX) and Franklin Templeton SMACS: Series EM (FQEMX). 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.

	BGELX	FQEMX	Difference
Sharpe ratio Return per unit of total volatility	1.81	3.07	-1.26
Sortino ratio Return per unit of downside risk	2.31	3.44	-1.12
Omega ratio Gain probability vs. loss probability	1.36	1.55	-0.19
Calmar ratio Return relative to maximum drawdown	2.62	3.47	-0.85
Martin ratio Return relative to average drawdown	10.09	13.65	-3.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGELX vs. FQEMX - Sharpe Ratio Comparison

The current BGELX Sharpe Ratio is 1.81, which is lower than the FQEMX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of BGELX and FQEMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BGELX	FQEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	3.07	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.62	-0.13

Correlation

The correlation between BGELX and FQEMX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BGELX vs. FQEMX - Dividend Comparison

BGELX's dividend yield for the trailing twelve months is around 1.62%, less than FQEMX's 2.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGELX Baillie Gifford Emerging Markets Equities Fund	1.62%	1.68%	3.52%	4.02%	5.46%	3.08%	1.31%	3.90%	10.14%	1.16%
FQEMX Franklin Templeton SMACS: Series EM	2.84%	3.18%	3.15%	4.82%	3.93%	0.62%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BGELX vs. FQEMX - Drawdown Comparison

The maximum BGELX drawdown since its inception was -50.47%, which is greater than FQEMX's maximum drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for BGELX and FQEMX.

Drawdown Indicators

	BGELX	FQEMX	Difference
Max Drawdown Largest peak-to-trough decline	-50.47%	-34.46%	-16.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	-18.93%	+4.02%
Max Drawdown (5Y) Largest decline over 5 years	-45.88%	—	—
Current Drawdown Current decline from peak	-11.90%	-16.40%	+4.50%
Average Drawdown Average peak-to-trough decline	-18.81%	-11.08%	-7.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	4.81%	-0.94%

Volatility

BGELX vs. FQEMX - Volatility Comparison

The current volatility for Baillie Gifford Emerging Markets Equities Fund (BGELX) is 11.52%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 14.20%. This indicates that BGELX experiences smaller price fluctuations and is considered to be less risky than FQEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGELX	FQEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.52%	14.20%	-2.68%
Volatility (6M) Calculated over the trailing 6-month period	16.70%	20.17%	-3.47%
Volatility (1Y) Calculated over the trailing 1-year period	22.24%	24.14%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	19.73%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.75%	19.73%	+2.02%