IIF vs. FQEMX
IIF (Morgan Stanley India Investment Fund) and FQEMX (Franklin Templeton SMACS: Series EM) are both Emerging Markets Equities funds. Over the past 3 years, IIF returned 11.93%/yr vs 36.13%/yr for FQEMX. Their 0.43 correlation means their historical movements had little consistent relationship. IIF charges 0.01%/yr vs 0.00%/yr for FQEMX.
Performance
IIF vs. FQEMX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IIF achieves a -8.13% return, which is significantly lower than FQEMX's 50.59% return.
IIF
- 1D
- -0.13%
- 1M
- 0.22%
- 6M
- -1.92%
- YTD
- -8.13%
- 1Y
- -9.25%
- 3Y*
- 11.93%
- 5Y*
- 8.92%
- 10Y*
- 7.85%
- ALL TIME*
- 13.21%
FQEMX
- 1D
- 7.06%
- 1M
- -8.87%
- 6M
- 28.08%
- YTD
- 50.59%
- 1Y
- 93.48%
- 3Y*
- 36.13%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $680.67K | $759.12K | $751.79K |
IIF vs. FQEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IIF Morgan Stanley India Investment Fund | -8.13% | 6.71% | 29.65% | 21.43% | -9.55% | -1.60% |
FQEMX Franklin Templeton SMACS: Series EM | 50.59% | 55.98% | 6.67% | 12.18% | -20.68% | 0.32% |
Correlation
The correlation between IIF and FQEMX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.43 |
The correlation between IIF and FQEMX shifts across timeframes, from 0.32 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IIF vs. FQEMX — Risk / Return Rank
IIF
FQEMX
IIF vs. FQEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley India Investment Fund (IIF) 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.
| IIF | FQEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -3.44 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.42 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 3.32 | -3.74 |
| Martin ratioReturn relative to average drawdown | -0.93 | 12.24 | -13.17 |
Loading charts...
Drawdowns
IIF vs. FQEMX - Drawdown Comparison
The maximum IIF drawdown since its inception was -62.11%, which is greater than FQEMX's maximum drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for IIF and FQEMX.
Loading charts...
Drawdown Indicators
| IIF | FQEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.11% | -34.46% | -27.65% |
Max Drawdown (1Y)Largest decline over 1 year | -22.52% | -26.96% | +4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.05% | -26.96% | +2.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.05% | — | — |
Current DrawdownCurrent decline from peak | -12.67% | -21.81% | +9.14% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -10.81% | -8.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.02% | 7.26% | +2.76% |
Volatility
IIF vs. FQEMX - Volatility Comparison
The current volatility for Morgan Stanley India Investment Fund (IIF) is 4.15%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 17.42%. This indicates that IIF 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.
Loading charts...
Volatility by Period
| IIF | FQEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 17.42% | -13.27% |
Volatility (6M)Calculated over the trailing 6-month period | 13.94% | 35.65% | -21.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.16% | 37.87% | -21.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 23.92% | -8.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 23.92% | -4.15% |
IIF vs. FQEMX - Expense Ratio Comparison
IIF has a 0.01% expense ratio, which is higher than FQEMX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IIF vs. FQEMX - Dividend Comparison
IIF's dividend yield for the trailing twelve months is around 8.65%, more than FQEMX's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FQEMX Franklin Templeton SMACS: Series EM | 2.11% | 3.18% | 3.15% | 4.82% | 3.93% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IIF Morgan Stanley India Investment Fund | 8.65% | 7.95% | 10.67% | 14.61% | 19.62% | 3.75% | 0.02% | 0.14% | 30.40% | 15.23% | 4.46% | 0.16% |
Frequently Asked Questions
IIF and FQEMX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FQEMX has higher volatility (17.42%) compared to IIF (4.15%). In terms of maximum drawdown, IIF dropped -62.11% vs FQEMX's -34.46%.
FQEMX currently has the higher Sharpe Ratio (2.36 vs -0.58), 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.
Find the right allocation for IIF and FQEMX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer