FCEEX vs. EMPTX

Last updated Aug 1, 2026

FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) and EMPTX (UBS Emerging Markets Equity Opportunity Fund) are both Emerging Markets Equities funds. Over the past 5 years, FCEEX returned 9.45%/yr vs 6.51%/yr for EMPTX. Their correlation of 0.81 means they have usually moved in the same direction. FCEEX charges 0.17%/yr vs 0.19%/yr for EMPTX.

Performance

FCEEX vs. EMPTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEEX achieves a 17.90% return, which is significantly lower than EMPTX's 19.01% return.

FCEEX

• 1D: 4.25%
• 1M: -2.41%
• 6M: 8.36%
• YTD: 17.90%
• 1Y: 35.94%
• 3Y*: 20.78%
• 5Y*: 9.45%
• 10Y*: —
• ALL TIME*: 10.33%

EMPTX

• 1D: 4.95%
• 1M: -3.02%
• 6M: 7.56%
• YTD: 19.01%
• 1Y: 42.03%
• 3Y*: 20.39%
• 5Y*: 6.51%
• 10Y*: —
• ALL TIME*: 7.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMPTX UBS Emerging Markets Equity Opportunity Fund	$0.00	$0.00	$0.00
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	$0.00	$0.00	$0.00

FCEEX vs. EMPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	17.90%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%
EMPTX UBS Emerging Markets Equity Opportunity Fund	19.01%	43.82%	2.51%	8.92%	-25.38%	-9.36%	24.79%	12.95%

Correlation

The correlation between FCEEX and EMPTX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.81

The correlation between FCEEX and EMPTX shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FCEEX vs. EMPTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCEEX

FCEEX Risk / Return Rank: 64
FCEEX Sharpe Ratio Rank: 62
FCEEX Sortino Ratio Rank: 54
FCEEX Omega Ratio Rank: 64
FCEEX Calmar Ratio Rank: 77
FCEEX Martin Ratio Rank: 62

EMPTX

EMPTX Risk / Return Rank: 77
EMPTX Sharpe Ratio Rank: 78
EMPTX Sortino Ratio Rank: 69
EMPTX Omega Ratio Rank: 76
EMPTX Calmar Ratio Rank: 86
EMPTX Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCEEX vs. EMPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). 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.

	FCEEX	EMPTX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.82	-0.34
Sortino ratio: Return per unit of downside risk	1.98	2.33	-0.35
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.05
Calmar ratio: Return relative to maximum drawdown	2.48	2.98	-0.50
Martin ratio: Return relative to average drawdown	7.86	9.46	-1.60

FCEEX vs. EMPTX - Sharpe Ratio Comparison

The current FCEEX Sharpe Ratio is 1.48, which is comparable to the EMPTX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FCEEX and EMPTX, 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

FCEEX vs. EMPTX - Drawdown Comparison

The maximum FCEEX drawdown since its inception was -34.68%, smaller than the maximum EMPTX drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for FCEEX and EMPTX.

Drawdown Indicators

	FCEEX	EMPTX	Difference
Max Drawdown Largest peak-to-trough decline	-34.68%	-46.03%	+11.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.53%	-14.50%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-15.50%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-30.92%	-38.78%	+7.86%
Current Drawdown Current decline from peak	-9.85%	-9.54%	-0.31%
Average Drawdown Average peak-to-trough decline	-11.13%	-18.12%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	4.44%	-0.19%

Volatility

FCEEX vs. EMPTX - Volatility Comparison

Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX) have volatilities of 9.78% and 10.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEEX	EMPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.78%	10.24%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	20.57%	21.53%	-0.96%
Volatility (1Y) Calculated over the trailing 1-year period	22.69%	23.77%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	20.22%	-2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	19.88%	-0.89%

FCEEX vs. EMPTX - Expense Ratio Comparison

FCEEX has a 0.17% expense ratio, which is lower than EMPTX's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FCEEX vs. EMPTX - Dividend Comparison

FCEEX's dividend yield for the trailing twelve months is around 3.61%, more than EMPTX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMPTX UBS Emerging Markets Equity Opportunity Fund	1.61%	1.91%	3.40%	3.20%	3.84%	11.93%	1.50%	2.75%	0.54%
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	3.61%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%

Frequently Asked Questions

Can I hold both FCEEX and EMPTX in my portfolio?

FCEEX and EMPTX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCEEX or EMPTX?

EMPTX has higher volatility (10.24%) compared to FCEEX (9.78%). In terms of maximum drawdown, FCEEX dropped -34.68% vs EMPTX's -46.03%.

Which has better risk-adjusted returns?

EMPTX currently has the higher Sharpe Ratio (1.82 vs 1.48), 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.