GLLSX vs. THW

Last updated Aug 4, 2026

GLLSX (abrdn Emerging Markets ex-China Fund) and THW (abrdn World Healthcare Fund) are both mutual funds - GLLSX is a Emerging Markets Equities fund managed by Aberdeen, while THW is a Health & Biotech Equities fund actively managed by Aberdeen. Over the past 10 years, GLLSX returned 13.41%/yr vs 9.43%/yr for THW. Their 0.44 correlation means their historical movements had little consistent relationship. GLLSX charges 1.23%/yr vs 1.54%/yr for THW.

Performance

GLLSX vs. THW - Performance Comparison

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

Returns By Period

In the year-to-date period, GLLSX achieves a 31.84% return, which is significantly higher than THW's 11.66% return. Over the past 10 years, GLLSX has outperformed THW with an annualized return of 13.41%, while THW has yielded a comparatively lower 9.43% annualized return.

GLLSX

• 1D: 2.81%
• 1M: -3.28%
• 6M: 18.04%
• YTD: 31.84%
• 1Y: 59.51%
• 3Y*: 23.01%
• 5Y*: 14.65%
• 10Y*: 13.41%
• ALL TIME*: 10.44%

THW

• 1D: 0.68%
• 1M: -2.11%
• 6M: 11.26%
• YTD: 11.66%
• 1Y: 38.03%
• 3Y*: 11.82%
• 5Y*: 6.24%
• 10Y*: 9.43%
• ALL TIME*: 6.75%

*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)
GLLSX abrdn Emerging Markets ex-China Fund	$0.00	$0.00	$0.00
THW abrdn World Healthcare Fund	$1.64M	$2.35M	$1.80M

GLLSX vs. THW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GLLSX abrdn Emerging Markets ex-China Fund	31.84%	34.81%	0.73%	21.35%	-23.04%	36.50%	15.93%	23.64%	-11.50%	23.06%
THW abrdn World Healthcare Fund	11.66%	31.10%	5.35%	-11.52%	-1.21%	12.03%	26.40%	32.98%	-5.40%	16.95%

Correlation

The correlation between GLLSX and THW is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.36
Correlation (10Y) Provides a long-term view across more market conditions.	0.43
Correlation (All Time) Calculated using the full available price history since Jun 26, 2015	0.44

Over the past year, the correlation between GLLSX and THW has dropped to 0.22 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Return for Risk

GLLSX vs. THW — Risk / Return Rank

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

GLLSX

GLLSX Risk / Return Rank: 82
GLLSX Sharpe Ratio Rank: 84
GLLSX Sortino Ratio Rank: 73
GLLSX Omega Ratio Rank: 81
GLLSX Calmar Ratio Rank: 87
GLLSX Martin Ratio Rank: 86

THW

THW Risk / Return Rank: 82
THW Sharpe Ratio Rank: 83
THW Sortino Ratio Rank: 76
THW Omega Ratio Rank: 74
THW Calmar Ratio Rank: 89
THW Martin Ratio Rank: 88

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.

GLLSX vs. THW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Emerging Markets ex-China Fund (GLLSX) and abrdn World Healthcare Fund (THW). 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.

	GLLSX	THW	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.05	+0.02
Sortino ratio: Return per unit of downside risk	2.55	2.69	-0.13
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	3.18	3.39	-0.20
Martin ratio: Return relative to average drawdown	11.37	11.98	-0.61

GLLSX vs. THW - Sharpe Ratio Comparison

The current GLLSX Sharpe Ratio is 2.07, which is comparable to the THW Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of GLLSX and THW, 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

GLLSX vs. THW - Drawdown Comparison

The maximum GLLSX drawdown since its inception was -32.59%, smaller than the maximum THW drawdown of -37.36%. Use the drawdown chart below to compare losses from any high point for GLLSX and THW.

Drawdown Indicators

	GLLSX	THW	Difference
Max Drawdown Largest peak-to-trough decline	-32.59%	-37.36%	+4.77%
Max Drawdown (1Y) Largest decline over 1 year	-18.34%	-11.28%	-7.06%
Max Drawdown (3Y) Largest decline over 3 years	-20.95%	-26.76%	+5.81%
Max Drawdown (5Y) Largest decline over 5 years	-30.02%	-31.53%	+1.51%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-37.36%	+4.77%
Current Drawdown Current decline from peak	-11.63%	-2.11%	-9.52%
Average Drawdown Average peak-to-trough decline	-7.92%	-9.60%	+1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	3.18%	+1.95%

Volatility

GLLSX vs. THW - Volatility Comparison

abrdn Emerging Markets ex-China Fund (GLLSX) has a higher volatility of 12.59% compared to abrdn World Healthcare Fund (THW) at 4.40%. This indicates that GLLSX's price experiences larger fluctuations and is considered to be riskier than THW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLLSX	THW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.59%	4.40%	+8.19%
Volatility (6M) Calculated over the trailing 6-month period	26.61%	13.60%	+13.01%
Volatility (1Y) Calculated over the trailing 1-year period	28.27%	18.67%	+9.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	18.82%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.64%	21.17%	-2.53%

GLLSX vs. THW - Expense Ratio Comparison

GLLSX has a 1.23% expense ratio, which is lower than THW's 1.54% expense ratio.

Dividends

GLLSX vs. THW - Dividend Comparison

GLLSX's dividend yield for the trailing twelve months is around 1.42%, less than THW's 10.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLLSX abrdn Emerging Markets ex-China Fund	1.42%	1.88%	0.74%	0.77%	29.32%	22.85%	0.00%	3.38%	9.47%	8.40%	1.09%	0.94%
THW abrdn World Healthcare Fund	10.47%	10.96%	12.72%	12.00%	9.56%	8.60%	8.85%	10.11%	12.08%	10.29%	10.91%	3.69%

Frequently Asked Questions

Can I hold both GLLSX and THW in my portfolio?

GLLSX and THW have a correlation of 0.22, 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 THW?

GLLSX has higher volatility (12.59%) compared to THW (4.40%). In terms of maximum drawdown, GLLSX dropped -32.59% vs THW's -37.36%.

Which has better risk-adjusted returns?

GLLSX currently has the higher Sharpe Ratio (2.07 vs 2.05), 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.