DEMAX vs. LCSMX
DEMAX (Nomura Emerging Markets Fund Class A) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Equities funds. Over the past 5 years, DEMAX returned 25.01%/yr vs 8.26%/yr for LCSMX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. DEMAX charges 1.42%/yr vs 0.00%/yr for LCSMX.
Performance
DEMAX vs. LCSMX - Performance Comparison
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Returns By Period
In the year-to-date period, DEMAX achieves a 87.41% return, which is significantly higher than LCSMX's 44.23% return.
DEMAX
- 1D
- 4.37%
- 1M
- -12.19%
- 6M
- 49.74%
- YTD
- 87.41%
- 1Y
- 177.76%
- 3Y*
- 57.97%
- 5Y*
- 25.01%
- 10Y*
- 18.76%
- ALL TIME*
- 10.90%
LCSMX
- 1D
- 3.96%
- 1M
- -7.99%
- 6M
- 25.62%
- YTD
- 44.23%
- 1Y
- 86.68%
- 3Y*
- 25.02%
- 5Y*
- 8.26%
- 10Y*
- —
- ALL TIME*
- 11.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DEMAX vs. LCSMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 87.41% | 86.33% | 6.25% | 17.34% | -28.85% | -2.32% | 25.54% | 24.05% | -20.05% |
LCSMX Martin Currie SMA-Shares Series EM Fund | 44.23% | 51.52% | -13.60% | 16.26% | -27.25% | 4.73% | 35.72% | 6.81% | 1.42% |
Correlation
The correlation between DEMAX and LCSMX is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.79 |
The correlation between DEMAX and LCSMX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
DEMAX vs. LCSMX — Risk / Return Rank
DEMAX
LCSMX
DEMAX vs. LCSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nomura Emerging Markets Fund Class A (DEMAX) 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.
| DEMAX | LCSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.44 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.96 | 3.33 | +1.63 |
| Martin ratioReturn relative to average drawdown | 19.67 | 12.71 | +6.96 |
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Drawdowns
DEMAX vs. LCSMX - Drawdown Comparison
The maximum DEMAX drawdown since its inception was -63.23%, which is greater than LCSMX's maximum drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for DEMAX and LCSMX.
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Drawdown Indicators
| DEMAX | LCSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.23% | -39.72% | -23.51% |
Max Drawdown (1Y)Largest decline over 1 year | -36.53% | -26.28% | -10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -36.53% | -26.28% | -10.25% |
Max Drawdown (5Y)Largest decline over 5 years | -38.58% | -38.88% | +0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -46.51% | — | — |
Current DrawdownCurrent decline from peak | -23.46% | -16.20% | -7.26% |
Average DrawdownAverage peak-to-trough decline | -18.73% | -13.69% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.18% | 6.87% | +2.31% |
Volatility
DEMAX vs. LCSMX - Volatility Comparison
Nomura Emerging Markets Fund Class A (DEMAX) has a higher volatility of 24.95% compared to Martin Currie SMA-Shares Series EM Fund (LCSMX) at 15.94%. This indicates that DEMAX's price experiences larger fluctuations and is considered to be riskier than LCSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEMAX | LCSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.95% | 15.94% | +9.01% |
Volatility (6M)Calculated over the trailing 6-month period | 49.71% | 33.80% | +15.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.10% | 35.52% | +17.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.25% | 22.21% | +8.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 21.63% | +4.25% |
DEMAX vs. LCSMX - Expense Ratio Comparison
DEMAX has a 1.42% expense ratio, which is higher than LCSMX's 0.00% expense ratio.
Dividends
DEMAX vs. LCSMX - Dividend Comparison
DEMAX's dividend yield for the trailing twelve months is around 10.15%, more than LCSMX's 0.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEMAX Nomura Emerging Markets Fund Class A | 10.15% | 19.03% | 1.74% | 2.76% | 1.60% | 3.16% | 0.56% | 0.57% | 0.34% | 1.59% | 0.70% | 0.03% |
LCSMX Martin Currie SMA-Shares Series EM Fund | 0.69% | 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
DEMAX and LCSMX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DEMAX has higher volatility (24.95%) compared to LCSMX (15.94%). In terms of maximum drawdown, DEMAX dropped -63.23% vs LCSMX's -39.72%.
DEMAX currently has the higher Sharpe Ratio (3.42 vs 2.47), 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.
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