GLLSX vs. SAEMX

Last updated Jun 4, 2026

GLLSX (abrdn Emerging Markets ex-China Fund) and SAEMX (SA Emerging Markets Value Fund) are both Emerging Markets Diversified funds. Over the past 10 years, GLLSX returned 15.05%/yr vs 10.62%/yr for SAEMX. A 0.57 correlation means they provide meaningful diversification when combined. GLLSX charges 1.23%/yr vs 1.24%/yr for SAEMX.

Performance

GLLSX vs. SAEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Emerging Markets ex-China Fund (GLLSX) and SA Emerging Markets Value Fund (SAEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLLSX achieves a 46.58% return, which is significantly higher than SAEMX's 28.08% return. Over the past 10 years, GLLSX has outperformed SAEMX with an annualized return of 15.05%, while SAEMX has yielded a comparatively lower 10.62% annualized return.

GLLSX

• 1D: 0.17%
• 1M: 11.34%
• YTD: 46.58%
• 6M: 50.65%
• 1Y: 88.61%
• 3Y*: 29.36%
• 5Y*: 18.30%
• 10Y*: 15.05%

SAEMX

• 1D: 0.57%
• 1M: 10.10%
• YTD: 28.08%
• 6M: 31.12%
• 1Y: 52.75%
• 3Y*: 24.07%
• 5Y*: 11.03%
• 10Y*: 10.62%

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

GLLSX vs. SAEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLLSX abrdn Emerging Markets ex-China Fund	46.58%	34.81%	0.73%	21.35%	-23.04%	36.50%	15.93%	23.64%	-11.50%	23.06%
SAEMX SA Emerging Markets Value Fund	28.08%	29.21%	5.47%	15.72%	-11.61%	10.51%	0.88%	8.05%	-12.11%	31.24%

Correlation

The correlation between GLLSX and SAEMX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.57

The correlation between GLLSX and SAEMX has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

Return for Risk

GLLSX vs. SAEMX — Risk / Return Rank

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

GLLSX

GLLSX Risk / Return Rank: 96
GLLSX Sharpe Ratio Rank: 99
GLLSX Sortino Ratio Rank: 94
GLLSX Omega Ratio Rank: 94
GLLSX Calmar Ratio Rank: 96
GLLSX Martin Ratio Rank: 96

SAEMX

SAEMX Risk / Return Rank: 93
SAEMX Sharpe Ratio Rank: 97
SAEMX Sortino Ratio Rank: 93
SAEMX Omega Ratio Rank: 92
SAEMX Calmar Ratio Rank: 92
SAEMX Martin Ratio Rank: 90

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.

GLLSX vs. SAEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Emerging Markets ex-China Fund (GLLSX) and SA Emerging Markets Value Fund (SAEMX). 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.

	GLLSX	SAEMX	Difference
Sharpe ratio: Return per unit of total volatility	4.14	3.78	+0.37
Sortino ratio: Return per unit of downside risk	4.78	4.70	+0.08
Omega ratio: Gain probability vs. loss probability	1.74	1.69	+0.05
Calmar ratio: Return relative to maximum drawdown	6.17	4.95	+1.22
Martin ratio: Return relative to average drawdown	24.54	18.35	+6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLLSX vs. SAEMX - Sharpe Ratio Comparison

The current GLLSX Sharpe Ratio is 4.14, which is comparable to the SAEMX Sharpe Ratio of 3.78. The chart below compares the historical Sharpe Ratios of GLLSX and SAEMX, 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

	GLLSX	SAEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.14	3.78	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	0.76	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.69	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.22	+0.47

Drawdowns

GLLSX vs. SAEMX - Drawdown Comparison

The maximum GLLSX drawdown since its inception was -32.59%, smaller than the maximum SAEMX drawdown of -63.08%. Use the drawdown chart below to compare losses from any high point for GLLSX and SAEMX.

Drawdown Indicators

	GLLSX	SAEMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.59%	-63.08%	+30.49%
Max Drawdown (1Y) Largest decline over 1 year	-14.39%	-12.22%	-2.17%
Max Drawdown (3Y) Largest decline over 3 years	-20.95%	-17.80%	-3.15%
Max Drawdown (5Y) Largest decline over 5 years	-30.02%	-25.85%	-4.17%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-49.23%	+16.64%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.92%	-17.22%	+9.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.14%	+0.47%

Volatility

GLLSX vs. SAEMX - Volatility Comparison

abrdn Emerging Markets ex-China Fund (GLLSX) has a higher volatility of 9.95% compared to SA Emerging Markets Value Fund (SAEMX) at 5.60%. This indicates that GLLSX's price experiences larger fluctuations and is considered to be riskier than SAEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLLSX	SAEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.95%	5.60%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	19.05%	13.35%	+5.70%
Volatility (1Y) Calculated over the trailing 1-year period	21.43%	16.11%	+5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.09%	14.93%	+3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.80%	15.54%	+2.26%

GLLSX vs. SAEMX - Expense Ratio Comparison

GLLSX has a 1.23% expense ratio, which is lower than SAEMX's 1.24% expense ratio.

Dividends

GLLSX vs. SAEMX - Dividend Comparison

GLLSX's dividend yield for the trailing twelve months is around 1.28%, less than SAEMX's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLLSX abrdn Emerging Markets ex-China Fund	1.28%	1.88%	0.74%	0.77%	29.32%	22.85%	0.00%	3.38%	9.47%	8.40%	1.09%	0.94%
SAEMX SA Emerging Markets Value Fund	2.68%	3.43%	4.37%	4.07%	3.54%	2.86%	1.76%	2.18%	1.78%	1.28%	1.23%	1.25%

Frequently Asked Questions

Can I hold both GLLSX and SAEMX in my portfolio?

GLLSX and SAEMX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLLSX or SAEMX?

GLLSX has higher volatility (9.95%) compared to SAEMX (5.60%). In terms of maximum drawdown, GLLSX dropped -32.59% vs SAEMX's -63.08%.

Which has better risk-adjusted returns?

GLLSX currently has the higher Sharpe Ratio (4.14 vs 3.78), 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.