FCEEX vs. UMEMX

Last updated Jun 4, 2026

FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) and UMEMX (Columbia Emerging Markets Fund) are both Emerging Markets Diversified funds. Over the past 5 years, FCEEX returned 10.38%/yr vs 4.46%/yr for UMEMX. Their correlation of 0.93 suggests significant overlap in exposure. FCEEX charges 0.17%/yr vs 1.20%/yr for UMEMX.

Performance

FCEEX vs. UMEMX - 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 Columbia Emerging Markets Fund (UMEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEEX achieves a 30.78% return, which is significantly lower than UMEMX's 39.68% return.

FCEEX

• 1D: 1.30%
• 1M: 9.92%
• YTD: 30.78%
• 6M: 32.80%
• 1Y: 59.40%
• 3Y*: 28.19%
• 5Y*: 10.38%
• 10Y*: —

UMEMX

• 1D: 0.13%
• 1M: 10.55%
• YTD: 39.68%
• 6M: 42.92%
• 1Y: 70.14%
• 3Y*: 27.16%
• 5Y*: 4.46%
• 10Y*: 10.63%

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

FCEEX vs. UMEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	30.78%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%
UMEMX Columbia Emerging Markets Fund	39.68%	31.14%	6.68%	8.89%	-33.02%	-7.30%	33.83%	12.82%

Correlation

The correlation between FCEEX and UMEMX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.93

The correlation between FCEEX and UMEMX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FCEEX vs. UMEMX — Risk / Return Rank

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

FCEEX

FCEEX Risk / Return Rank: 90
FCEEX Sharpe Ratio Rank: 95
FCEEX Sortino Ratio Rank: 89
FCEEX Omega Ratio Rank: 88
FCEEX Calmar Ratio Rank: 90
FCEEX Martin Ratio Rank: 90

UMEMX

UMEMX Risk / Return Rank: 90
UMEMX Sharpe Ratio Rank: 94
UMEMX Sortino Ratio Rank: 83
UMEMX Omega Ratio Rank: 86
UMEMX Calmar Ratio Rank: 92
UMEMX Martin Ratio Rank: 92

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.

FCEEX vs. UMEMX - 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 Columbia Emerging Markets Fund (UMEMX). 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.

	FCEEX	UMEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.37	3.29	+0.08
Sortino ratio: Return per unit of downside risk	4.26	3.99	+0.27
Omega ratio: Gain probability vs. loss probability	1.62	1.60	+0.02
Calmar ratio: Return relative to maximum drawdown	4.63	4.92	-0.29
Martin ratio: Return relative to average drawdown	18.43	19.65	-1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCEEX vs. UMEMX - Sharpe Ratio Comparison

The current FCEEX Sharpe Ratio is 3.37, which is comparable to the UMEMX Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of FCEEX and UMEMX, 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

	FCEEX	UMEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.37	3.29	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.22	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.33	+0.35

Drawdowns

FCEEX vs. UMEMX - Drawdown Comparison

The maximum FCEEX drawdown since its inception was -34.68%, smaller than the maximum UMEMX drawdown of -67.58%. Use the drawdown chart below to compare losses from any high point for FCEEX and UMEMX.

Drawdown Indicators

	FCEEX	UMEMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.68%	-67.58%	+32.90%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-14.32%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-16.69%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	-49.26%	+15.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.61%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.26%	-21.45%	+10.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	3.58%	-0.33%

Volatility

FCEEX vs. UMEMX - Volatility Comparison

The current volatility for Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) is 7.77%, while Columbia Emerging Markets Fund (UMEMX) has a volatility of 9.56%. This indicates that FCEEX experiences smaller price fluctuations and is considered to be less risky than UMEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEEX	UMEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	9.56%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	15.07%	18.74%	-3.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.85%	21.44%	-3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.96%	20.10%	-3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	20.18%	-1.81%

FCEEX vs. UMEMX - Expense Ratio Comparison

FCEEX has a 0.17% expense ratio, which is lower than UMEMX's 1.20% expense ratio.

Dividends

FCEEX vs. UMEMX - Dividend Comparison

FCEEX's dividend yield for the trailing twelve months is around 2.25%, less than UMEMX's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	2.25%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%	0.00%
UMEMX Columbia Emerging Markets Fund	3.54%	4.94%	1.29%	0.00%	0.00%	1.56%	1.15%	0.33%	0.12%	0.33%

Frequently Asked Questions

Can I hold both FCEEX and UMEMX in my portfolio?

With a correlation of 0.95, FCEEX and UMEMX 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, FCEEX or UMEMX?

UMEMX has higher volatility (9.56%) compared to FCEEX (7.77%). In terms of maximum drawdown, FCEEX dropped -34.68% vs UMEMX's -67.58%.

Which has better risk-adjusted returns?

FCEEX currently has the higher Sharpe Ratio (3.37 vs 3.29), 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.