GEMIX vs. FQEMX

Last updated Aug 4, 2026

GEMIX (Goldman Sachs Emerging Markets Equity Fund) and FQEMX (Franklin Templeton SMACS: Series EM) are both Emerging Markets Equities funds. Over the past 3 years, GEMIX returned 19.35%/yr vs 39.56%/yr for FQEMX. Their correlation of 0.87 means they have usually moved in the same direction. GEMIX charges 1.00%/yr vs 0.00%/yr for FQEMX.

Performance

GEMIX vs. FQEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Emerging Markets Equity Fund (GEMIX) and Franklin Templeton SMACS: Series EM (FQEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GEMIX achieves a 19.46% return, which is significantly lower than FQEMX's 57.68% return.

GEMIX

• 1D: 2.07%
• 1M: -3.63%
• 6M: 9.73%
• YTD: 19.46%
• 1Y: 40.52%
• 3Y*: 19.35%
• 5Y*: 4.21%
• 10Y*: 9.05%
• ALL TIME*: 7.35%

FQEMX

• 1D: 1.47%
• 1M: -4.58%
• 6M: 32.52%
• YTD: 57.68%
• 1Y: 98.89%
• 3Y*: 39.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.46%

*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)
FQEMX Franklin Templeton SMACS: Series EM	$0.00	$0.00	$0.00
GEMIX Goldman Sachs Emerging Markets Equity Fund	$0.00	$0.00	$0.00

GEMIX vs. FQEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GEMIX Goldman Sachs Emerging Markets Equity Fund	19.46%	32.84%	9.10%	6.63%	-30.01%	-6.62%
FQEMX Franklin Templeton SMACS: Series EM	57.68%	55.98%	6.67%	12.18%	-20.68%	0.32%

Correlation

The correlation between GEMIX and FQEMX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021	0.87

The correlation between GEMIX and FQEMX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

GEMIX vs. FQEMX — Risk / Return Rank

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

GEMIX

GEMIX Risk / Return Rank: 56
GEMIX Sharpe Ratio Rank: 56
GEMIX Sortino Ratio Rank: 44
GEMIX Omega Ratio Rank: 60
GEMIX Calmar Ratio Rank: 67
GEMIX Martin Ratio Rank: 55

FQEMX

FQEMX Risk / Return Rank: 91
FQEMX Sharpe Ratio Rank: 96
FQEMX Sortino Ratio Rank: 83
FQEMX Omega Ratio Rank: 91
FQEMX Calmar Ratio Rank: 92
FQEMX Martin Ratio Rank: 92

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.

GEMIX vs. FQEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Emerging Markets Equity Fund (GEMIX) and Franklin Templeton SMACS: Series EM (FQEMX). 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.

	GEMIX	FQEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.77	-1.22
Sortino ratio: Return per unit of downside risk	2.01	2.98	-0.97
Omega ratio: Gain probability vs. loss probability	1.30	1.48	-0.18
Calmar ratio: Return relative to maximum drawdown	2.35	3.89	-1.55
Martin ratio: Return relative to average drawdown	7.96	13.98	-6.03

GEMIX vs. FQEMX - Sharpe Ratio Comparison

The current GEMIX Sharpe Ratio is 1.55, which is lower than the FQEMX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of GEMIX and FQEMX, 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

GEMIX vs. FQEMX - Drawdown Comparison

The maximum GEMIX drawdown since its inception was -68.46%, which is greater than FQEMX's maximum drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for GEMIX and FQEMX.

Drawdown Indicators

	GEMIX	FQEMX	Difference
Max Drawdown Largest peak-to-trough decline	-68.46%	-34.46%	-34.00%
Max Drawdown (1Y) Largest decline over 1 year	-16.61%	-26.96%	+10.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.46%	-26.96%	+8.50%
Max Drawdown (5Y) Largest decline over 5 years	-43.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.24%	—	—
Current Drawdown Current decline from peak	-11.43%	-18.13%	+6.70%
Average Drawdown Average peak-to-trough decline	-19.63%	-10.82%	-8.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	7.45%	-2.57%

Volatility

GEMIX vs. FQEMX - Volatility Comparison

The current volatility for Goldman Sachs Emerging Markets Equity Fund (GEMIX) is 10.76%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 16.86%. This indicates that GEMIX experiences smaller price fluctuations and is considered to be less risky than FQEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GEMIX	FQEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.76%	16.86%	-6.10%
Volatility (6M) Calculated over the trailing 6-month period	23.25%	35.78%	-12.53%
Volatility (1Y) Calculated over the trailing 1-year period	25.17%	37.97%	-12.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.95%	23.95%	-5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	23.95%	-5.24%

GEMIX vs. FQEMX - Expense Ratio Comparison

GEMIX has a 1.00% expense ratio, which is higher than FQEMX's 0.00% expense ratio.

Dividends

GEMIX vs. FQEMX - Dividend Comparison

GEMIX's dividend yield for the trailing twelve months is around 0.65%, less than FQEMX's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FQEMX Franklin Templeton SMACS: Series EM	2.02%	3.18%	3.15%	4.82%	3.93%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GEMIX Goldman Sachs Emerging Markets Equity Fund	0.65%	0.78%	1.09%	1.33%	0.22%	0.95%	0.31%	1.09%	0.79%	0.88%	1.09%	0.10%

Frequently Asked Questions

Can I hold both GEMIX and FQEMX in my portfolio?

With a correlation of 0.90, GEMIX and FQEMX 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, GEMIX or FQEMX?

FQEMX has higher volatility (16.86%) compared to GEMIX (10.76%). In terms of maximum drawdown, GEMIX dropped -68.46% vs FQEMX's -34.46%.

Which has better risk-adjusted returns?

FQEMX currently has the higher Sharpe Ratio (2.77 vs 1.55), 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.