LCSMX vs. GTDDX

Last updated Jun 6, 2026

LCSMX (Martin Currie SMA-Shares Series EM Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Diversified funds. Over the past 5 years, LCSMX returned 11.55%/yr vs 8.14%/yr for GTDDX. A 0.75 correlation means they provide meaningful diversification when combined. LCSMX charges 0.00%/yr vs 1.39%/yr for GTDDX.

Performance

LCSMX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Martin Currie SMA-Shares Series EM Fund (LCSMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCSMX achieves a 63.33% return, which is significantly higher than GTDDX's 45.32% return.

LCSMX

• 1D: -2.37%
• 1M: 8.58%
• YTD: 63.33%
• 6M: 70.26%
• 1Y: 122.05%
• 3Y*: 30.97%
• 5Y*: 11.55%
• 10Y*: —

GTDDX

• 1D: -1.85%
• 1M: 12.16%
• YTD: 45.32%
• 6M: 49.77%
• 1Y: 71.23%
• 3Y*: 23.78%
• 5Y*: 8.14%
• 10Y*: 10.04%

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

LCSMX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LCSMX Martin Currie SMA-Shares Series EM Fund	63.33%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%
GTDDX Invesco EQV Emerging Markets All Cap Fd	45.32%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-20.67%

Correlation

The correlation between LCSMX and GTDDX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018	0.75

The correlation between LCSMX and GTDDX shifts across timeframes, from 0.75 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LCSMX vs. GTDDX — Risk / Return Rank

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

LCSMX

LCSMX Risk / Return Rank: 97
LCSMX Sharpe Ratio Rank: 99
LCSMX Sortino Ratio Rank: 96
LCSMX Omega Ratio Rank: 96
LCSMX Calmar Ratio Rank: 98
LCSMX Martin Ratio Rank: 98

GTDDX

GTDDX Risk / Return Rank: 93
GTDDX Sharpe Ratio Rank: 98
GTDDX Sortino Ratio Rank: 92
GTDDX Omega Ratio Rank: 91
GTDDX Calmar Ratio Rank: 93
GTDDX Martin Ratio Rank: 93

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.

LCSMX vs. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Martin Currie SMA-Shares Series EM Fund (LCSMX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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.

	LCSMX	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	4.89	3.73	+1.16
Sortino ratio: Return per unit of downside risk	5.23	4.57	+0.67
Omega ratio: Gain probability vs. loss probability	1.84	1.67	+0.17
Calmar ratio: Return relative to maximum drawdown	8.08	5.00	+3.08
Martin ratio: Return relative to average drawdown	31.36	19.87	+11.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCSMX vs. GTDDX - Sharpe Ratio Comparison

The current LCSMX Sharpe Ratio is 4.89, which is higher than the GTDDX Sharpe Ratio of 3.73. The chart below compares the historical Sharpe Ratios of LCSMX and GTDDX, 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

	LCSMX	GTDDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.89	3.73	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.50	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.35	+0.30

Drawdowns

LCSMX vs. GTDDX - Drawdown Comparison

The maximum LCSMX drawdown since its inception was -39.72%, smaller than the maximum GTDDX drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for LCSMX and GTDDX.

Drawdown Indicators

	LCSMX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-39.72%	-62.89%	+23.17%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-14.49%	-0.90%
Max Drawdown (3Y) Largest decline over 3 years	-23.31%	-16.08%	-7.23%
Max Drawdown (5Y) Largest decline over 5 years	-39.72%	-37.54%	-2.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.58%	—
Current Drawdown Current decline from peak	-2.77%	-3.09%	+0.32%
Average Drawdown Average peak-to-trough decline	-13.72%	-18.75%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	3.63%	+0.33%

Volatility

LCSMX vs. GTDDX - Volatility Comparison

Martin Currie SMA-Shares Series EM Fund (LCSMX) has a higher volatility of 13.49% compared to Invesco EQV Emerging Markets All Cap Fd (GTDDX) at 8.53%. This indicates that LCSMX's price experiences larger fluctuations and is considered to be riskier than GTDDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCSMX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.49%	8.53%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	22.84%	16.92%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	25.44%	19.44%	+6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	16.40%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.03%	16.92%	+3.11%

LCSMX vs. GTDDX - Expense Ratio Comparison

LCSMX has a 0.00% expense ratio, which is lower than GTDDX's 1.39% expense ratio.

Dividends

LCSMX vs. GTDDX - Dividend Comparison

LCSMX's dividend yield for the trailing twelve months is around 0.61%, less than GTDDX's 14.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTDDX Invesco EQV Emerging Markets All Cap Fd	14.54%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%
LCSMX Martin Currie SMA-Shares Series EM Fund	0.61%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCSMX and GTDDX in my portfolio?

LCSMX and GTDDX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCSMX or GTDDX?

LCSMX has higher volatility (13.49%) compared to GTDDX (8.53%). In terms of maximum drawdown, LCSMX dropped -39.72% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (4.89 vs 3.73), 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.