LCSMX vs. PEMYX

Last updated Apr 2, 2026

Compare and contrast key facts about Martin Currie SMA-Shares Series EM Fund (LCSMX) and Putnam Emerging Markets Equity Fund (PEMYX).

LCSMX is managed by Legg Mason. It was launched on Jan 9, 2018. PEMYX is managed by Putnam. It was launched on Sep 28, 2008.

Performance

LCSMX vs. PEMYX - Performance Comparison

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

LCSMX vs. PEMYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LCSMX Martin Currie SMA-Shares Series EM Fund	11.23%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%
PEMYX Putnam Emerging Markets Equity Fund	4.56%	33.48%	16.22%	12.16%	-27.42%	-3.85%	37.11%	22.70%	-20.76%

Returns By Period

In the year-to-date period, LCSMX achieves a 11.23% return, which is significantly higher than PEMYX's 4.56% return.

LCSMX

• 1D: 1.89%
• 1M: -12.34%
• YTD: 11.23%
• 6M: 26.19%
• 1Y: 63.67%
• 3Y*: 17.07%
• 5Y*: 4.71%
• 10Y*: —

PEMYX

• 1D: 2.97%
• 1M: -8.45%
• YTD: 4.56%
• 6M: 7.97%
• 1Y: 34.55%
• 3Y*: 19.64%
• 5Y*: 4.46%
• 10Y*: 10.24%

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

LCSMX vs. PEMYX - Expense Ratio Comparison

LCSMX has a 0.00% expense ratio, which is lower than PEMYX's 1.08% expense ratio.

PEMYX

Putnam Emerging Markets Equity Fund

LCSMX

Martin Currie SMA-Shares Series EM Fund

Return for Risk

LCSMX vs. PEMYX — 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: 98
LCSMX Sortino Ratio Rank: 96
LCSMX Omega Ratio Rank: 95
LCSMX Calmar Ratio Rank: 97
LCSMX Martin Ratio Rank: 97

PEMYX

PEMYX Risk / Return Rank: 89
PEMYX Sharpe Ratio Rank: 91
PEMYX Sortino Ratio Rank: 89
PEMYX Omega Ratio Rank: 87
PEMYX Calmar Ratio Rank: 89
PEMYX 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.

LCSMX vs. PEMYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Martin Currie SMA-Shares Series EM Fund (LCSMX) and Putnam Emerging Markets Equity Fund (PEMYX). 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	PEMYX	Difference
Sharpe ratio Return per unit of total volatility	2.92	2.00	+0.92
Sortino ratio Return per unit of downside risk	3.47	2.61	+0.86
Omega ratio Gain probability vs. loss probability	1.54	1.38	+0.16
Calmar ratio Return relative to maximum drawdown	4.11	2.59	+1.52
Martin ratio Return relative to average drawdown	16.92	10.56	+6.36
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. PEMYX - Sharpe Ratio Comparison

The current LCSMX Sharpe Ratio is 2.92, which is higher than the PEMYX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of LCSMX and PEMYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LCSMX	PEMYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	2.00	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.27	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.30	+0.12

Correlation

The correlation between LCSMX and PEMYX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LCSMX vs. PEMYX - Dividend Comparison

LCSMX's dividend yield for the trailing twelve months is around 0.90%, more than PEMYX's 0.74% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCSMX Martin Currie SMA-Shares Series EM Fund	0.90%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%	0.00%	0.00%	0.00%
PEMYX Putnam Emerging Markets Equity Fund	0.74%	0.78%	1.85%	0.99%	0.00%	5.27%	1.78%	1.40%	2.16%	0.24%	1.18%	1.50%

Drawdowns

LCSMX vs. PEMYX - Drawdown Comparison

The maximum LCSMX drawdown since its inception was -39.72%, smaller than the maximum PEMYX drawdown of -45.25%. Use the drawdown chart below to compare losses from any high point for LCSMX and PEMYX.

Drawdown Indicators

	LCSMX	PEMYX	Difference
Max Drawdown Largest peak-to-trough decline	-39.72%	-45.25%	+5.53%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-13.26%	-2.13%
Max Drawdown (5Y) Largest decline over 5 years	-39.72%	-41.05%	+1.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.16%	—
Current Drawdown Current decline from peak	-13.80%	-10.68%	-3.12%
Average Drawdown Average peak-to-trough decline	-13.97%	-16.52%	+2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.25%	+0.49%

Volatility

LCSMX vs. PEMYX - Volatility Comparison

Martin Currie SMA-Shares Series EM Fund (LCSMX) has a higher volatility of 12.00% compared to Putnam Emerging Markets Equity Fund (PEMYX) at 9.00%. This indicates that LCSMX's price experiences larger fluctuations and is considered to be riskier than PEMYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCSMX	PEMYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.00%	9.00%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	17.91%	13.31%	+4.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.02%	17.43%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	16.78%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.35%	17.65%	+1.70%