DGIEX vs. LCSMX

Last updated Jun 4, 2026

DGIEX (BNY Mellon Global Emerging Markets Fund) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past 5 years, DGIEX returned 4.37%/yr vs 12.36%/yr for LCSMX. A 0.75 correlation means they provide meaningful diversification when combined. DGIEX charges 1.00%/yr vs 0.00%/yr for LCSMX.

Performance

DGIEX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Global Emerging Markets Fund (DGIEX) 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, DGIEX achieves a 22.50% return, which is significantly lower than LCSMX's 67.99% return.

DGIEX

• 1D: 0.80%
• 1M: 8.79%
• YTD: 22.50%
• 6M: 23.99%
• 1Y: 43.65%
• 3Y*: 16.54%
• 5Y*: 4.37%
• 10Y*: 10.41%

LCSMX

• 1D: 0.64%
• 1M: 21.90%
• YTD: 67.99%
• 6M: 76.65%
• 1Y: 132.69%
• 3Y*: 31.85%
• 5Y*: 12.36%
• 10Y*: —

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

DGIEX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DGIEX BNY Mellon Global Emerging Markets Fund	22.50%	22.65%	4.34%	7.01%	-23.34%	-3.12%	58.75%	23.34%	-26.33%
LCSMX Martin Currie SMA-Shares Series EM Fund	67.99%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%

Correlation

The correlation between DGIEX and LCSMX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018	0.75

The correlation between DGIEX and LCSMX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

DGIEX vs. LCSMX — Risk / Return Rank

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

DGIEX

DGIEX Risk / Return Rank: 83
DGIEX Sharpe Ratio Rank: 87
DGIEX Sortino Ratio Rank: 79
DGIEX Omega Ratio Rank: 79
DGIEX Calmar Ratio Rank: 89
DGIEX Martin Ratio Rank: 81

LCSMX

LCSMX Risk / Return Rank: 98
LCSMX Sharpe Ratio Rank: 99
LCSMX Sortino Ratio Rank: 97
LCSMX Omega Ratio Rank: 97
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.

DGIEX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Global Emerging Markets Fund (DGIEX) 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.

	DGIEX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	5.26	-2.43
Sortino ratio: Return per unit of downside risk	3.77	5.53	-1.76
Omega ratio: Gain probability vs. loss probability	1.52	1.90	-0.38
Calmar ratio: Return relative to maximum drawdown	4.50	8.64	-4.14
Martin ratio: Return relative to average drawdown	15.15	33.57	-18.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGIEX vs. LCSMX - Sharpe Ratio Comparison

The current DGIEX Sharpe Ratio is 2.82, which is lower than the LCSMX Sharpe Ratio of 5.26. The chart below compares the historical Sharpe Ratios of DGIEX 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.

Sharpe Ratios by Period

	DGIEX	LCSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	5.26	-2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.65	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.67	-0.21

Drawdowns

DGIEX vs. LCSMX - Drawdown Comparison

The maximum DGIEX drawdown since its inception was -42.97%, which is greater than LCSMX's maximum drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for DGIEX and LCSMX.

Drawdown Indicators

	DGIEX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-42.97%	-39.72%	-3.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.89%	-15.39%	+5.50%
Max Drawdown (3Y) Largest decline over 3 years	-20.39%	-23.31%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-37.32%	-39.72%	+2.40%
Max Drawdown (10Y) Largest decline over 10 years	-42.97%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-17.35%	-13.74%	-3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.95%	-1.02%

Volatility

DGIEX vs. LCSMX - Volatility Comparison

The current volatility for BNY Mellon Global Emerging Markets Fund (DGIEX) is 6.14%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 13.39%. This indicates that DGIEX 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

	DGIEX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	13.39%	-7.25%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	22.65%	-9.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.77%	25.30%	-9.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	19.25%	-2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.55%	20.02%	-1.47%

DGIEX vs. LCSMX - Expense Ratio Comparison

DGIEX has a 1.00% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

DGIEX vs. LCSMX - Dividend Comparison

DGIEX's dividend yield for the trailing twelve months is around 0.31%, less than LCSMX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGIEX BNY Mellon Global Emerging Markets Fund	0.31%	0.38%	0.00%	0.07%	0.25%	6.74%	0.30%	2.32%	1.32%	1.21%	0.04%	0.45%
LCSMX Martin Currie SMA-Shares Series EM Fund	0.59%	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 DGIEX and LCSMX in my portfolio?

DGIEX and LCSMX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGIEX or LCSMX?

LCSMX has higher volatility (13.39%) compared to DGIEX (6.14%). In terms of maximum drawdown, DGIEX dropped -42.97% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (5.26 vs 2.82), 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.