DAADX vs. LCSMX

Last updated Jun 24, 2026

DAADX (DFA Emerging Markets ex China Core Equity Portfolio) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past 3 years, DAADX returned 27.50%/yr vs 33.00%/yr for LCSMX. Their correlation of 0.88 suggests significant overlap in exposure. DAADX charges 0.43%/yr vs 0.00%/yr for LCSMX.

Performance

DAADX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets ex China Core Equity Portfolio (DAADX) 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, DAADX achieves a 40.98% return, which is significantly lower than LCSMX's 72.12% return.

DAADX

• 1D: 0.40%
• 1M: 9.28%
• YTD: 40.98%
• 6M: 42.94%
• 1Y: 65.87%
• 3Y*: 27.50%
• 5Y*: —
• 10Y*: —

LCSMX

• 1D: 0.90%
• 1M: 14.54%
• YTD: 72.12%
• 6M: 78.24%
• 1Y: 133.51%
• 3Y*: 33.00%
• 5Y*: 12.84%
• 10Y*: —

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

DAADX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAADX DFA Emerging Markets ex China Core Equity Portfolio	40.98%	27.59%	3.44%	24.58%	-15.81%	0.20%
LCSMX Martin Currie SMA-Shares Series EM Fund	72.12%	51.52%	-13.60%	16.26%	-27.25%	-1.95%

Correlation

The correlation between DAADX and LCSMX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021	0.88

The correlation between DAADX and LCSMX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

DAADX vs. LCSMX — Risk / Return Rank

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

DAADX

DAADX Risk / Return Rank: 93
DAADX Sharpe Ratio Rank: 97
DAADX Sortino Ratio Rank: 89
DAADX Omega Ratio Rank: 92
DAADX Calmar Ratio Rank: 94
DAADX Martin Ratio Rank: 94

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.

DAADX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets ex China Core Equity Portfolio (DAADX) 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.

	DAADX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	3.36	4.58	-1.22
Sortino ratio: Return per unit of downside risk	4.04	4.62	-0.58
Omega ratio: Gain probability vs. loss probability	1.65	1.79	-0.13
Calmar ratio: Return relative to maximum drawdown	5.09	8.72	-3.63
Martin ratio: Return relative to average drawdown	19.34	31.51	-12.18

DAADX vs. LCSMX - Sharpe Ratio Comparison

The current DAADX Sharpe Ratio is 3.36, which is comparable to the LCSMX Sharpe Ratio of 4.58. The chart below compares the historical Sharpe Ratios of DAADX 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

DAADX vs. LCSMX - Drawdown Comparison

The maximum DAADX drawdown since its inception was -24.98%, smaller than the maximum LCSMX drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for DAADX and LCSMX.

Drawdown Indicators

	DAADX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-24.98%	-39.72%	+14.74%
Max Drawdown (1Y) Largest decline over 1 year	-13.14%	-15.39%	+2.25%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-23.31%	+4.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-39.72%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.71%	-13.68%	+6.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	4.25%	-0.81%

Volatility

DAADX vs. LCSMX - Volatility Comparison

The current volatility for DFA Emerging Markets ex China Core Equity Portfolio (DAADX) is 10.85%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 17.02%. This indicates that DAADX 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

	DAADX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.85%	17.02%	-6.17%
Volatility (6M) Calculated over the trailing 6-month period	18.25%	27.15%	-8.90%
Volatility (1Y) Calculated over the trailing 1-year period	19.92%	29.39%	-9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.19%	20.37%	-5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.19%	20.62%	-5.43%

DAADX vs. LCSMX - Expense Ratio Comparison

DAADX has a 0.43% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

DAADX vs. LCSMX - Dividend Comparison

DAADX's dividend yield for the trailing twelve months is around 1.78%, more than LCSMX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DAADX DFA Emerging Markets ex China Core Equity Portfolio	1.78%	2.28%	2.64%	2.82%	3.02%	0.30%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both DAADX and LCSMX in my portfolio?

With a correlation of 0.90, DAADX 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, DAADX or LCSMX?

LCSMX has higher volatility (17.02%) compared to DAADX (10.85%). In terms of maximum drawdown, DAADX dropped -24.98% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (4.58 vs 3.36), 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.