GEMYX vs. LCSMX

Last updated Jun 26, 2026

GEMYX (GuideStone Funds Emerging Markets Equity Fund) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past 5 years, GEMYX returned 7.78%/yr vs 10.88%/yr for LCSMX. A 0.79 correlation means they provide meaningful diversification when combined. GEMYX charges 1.10%/yr vs 0.00%/yr for LCSMX.

Performance

GEMYX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GuideStone Funds Emerging Markets Equity Fund (GEMYX) 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, GEMYX achieves a 27.29% return, which is significantly lower than LCSMX's 59.82% return.

GEMYX

• 1D: 0.38%
• 1M: -0.25%
• YTD: 27.29%
• 6M: 28.65%
• 1Y: 49.18%
• 3Y*: 24.77%
• 5Y*: 7.78%
• 10Y*: 10.42%

LCSMX

• 1D: 1.16%
• 1M: 0.92%
• YTD: 59.82%
• 6M: 64.72%
• 1Y: 108.28%
• 3Y*: 29.76%
• 5Y*: 10.88%
• 10Y*: —

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

GEMYX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GEMYX GuideStone Funds Emerging Markets Equity Fund	27.29%	34.83%	8.23%	11.07%	-21.38%	-1.90%	22.20%	20.06%	-22.52%
LCSMX Martin Currie SMA-Shares Series EM Fund	59.82%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%

Correlation

The correlation between GEMYX and LCSMX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.79

The correlation between GEMYX and LCSMX shifts across timeframes, from 0.79 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GEMYX vs. LCSMX — Risk / Return Rank

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

GEMYX

GEMYX Risk / Return Rank: 81
GEMYX Sharpe Ratio Rank: 82
GEMYX Sortino Ratio Rank: 69
GEMYX Omega Ratio Rank: 81
GEMYX Calmar Ratio Rank: 85
GEMYX Martin Ratio Rank: 85

LCSMX

LCSMX Risk / Return Rank: 95
LCSMX Sharpe Ratio Rank: 99
LCSMX Sortino Ratio Rank: 89
LCSMX Omega Ratio Rank: 93
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.

GEMYX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GuideStone Funds Emerging Markets Equity Fund (GEMYX) 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.

	GEMYX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	3.64	-1.37
Sortino ratio: Return per unit of downside risk	2.80	3.76	-0.97
Omega ratio: Gain probability vs. loss probability	1.44	1.65	-0.21
Calmar ratio: Return relative to maximum drawdown	3.48	7.20	-3.72
Martin ratio: Return relative to average drawdown	13.23	25.66	-12.43

GEMYX vs. LCSMX - Sharpe Ratio Comparison

The current GEMYX Sharpe Ratio is 2.27, which is lower than the LCSMX Sharpe Ratio of 3.64. The chart below compares the historical Sharpe Ratios of GEMYX 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.

Drawdowns

GEMYX vs. LCSMX - Drawdown Comparison

The maximum GEMYX drawdown since its inception was -40.68%, roughly equal to the maximum LCSMX drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for GEMYX and LCSMX.

Drawdown Indicators

	GEMYX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-40.68%	-39.72%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-15.39%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	-23.31%	+5.82%
Max Drawdown (5Y) Largest decline over 5 years	-38.96%	-39.72%	+0.76%
Max Drawdown (10Y) Largest decline over 10 years	-40.28%	—	—
Current Drawdown Current decline from peak	-4.86%	-7.15%	+2.29%
Average Drawdown Average peak-to-trough decline	-16.26%	-13.67%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	4.31%	-0.57%

Volatility

GEMYX vs. LCSMX - Volatility Comparison

The current volatility for GuideStone Funds Emerging Markets Equity Fund (GEMYX) is 12.55%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 19.26%. This indicates that GEMYX 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

	GEMYX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.55%	19.26%	-6.71%
Volatility (6M) Calculated over the trailing 6-month period	19.91%	28.62%	-8.71%
Volatility (1Y) Calculated over the trailing 1-year period	21.95%	30.57%	-8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.63%	20.70%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	20.81%	-1.79%

GEMYX vs. LCSMX - Expense Ratio Comparison

GEMYX has a 1.10% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

GEMYX vs. LCSMX - Dividend Comparison

GEMYX's dividend yield for the trailing twelve months is around 3.12%, more than LCSMX's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GEMYX GuideStone Funds Emerging Markets Equity Fund	3.12%	3.97%	1.67%	2.17%	2.16%	13.40%	0.97%	2.60%	0.69%	0.96%
LCSMX Martin Currie SMA-Shares Series EM Fund	0.62%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%	0.00%

Frequently Asked Questions

Can I hold both GEMYX and LCSMX in my portfolio?

With a correlation of 0.92, GEMYX and LCSMX 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, GEMYX or LCSMX?

LCSMX has higher volatility (19.26%) compared to GEMYX (12.55%). In terms of maximum drawdown, GEMYX dropped -40.68% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (3.64 vs 2.27), 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.