LMGEX vs. LMGTX

Last updated Jun 23, 2026

LMGEX (Franklin International Equity Fund) and LMGTX (ClearBridge International Growth Fund) are both Foreign Large Cap Equities funds from Legg Mason. Over the past 10 years, LMGEX returned 8.29%/yr vs 9.60%/yr for LMGTX. A 0.67 correlation means they provide meaningful diversification when combined. LMGEX charges 2.05%/yr vs 1.80%/yr for LMGTX.

Performance

LMGEX vs. LMGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin International Equity Fund (LMGEX) and ClearBridge International Growth Fund (LMGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMGEX achieves a 9.43% return, which is significantly higher than LMGTX's 8.45% return. Over the past 10 years, LMGEX has underperformed LMGTX with an annualized return of 8.29%, while LMGTX has yielded a comparatively higher 9.60% annualized return.

LMGEX

• 1D: 0.49%
• 1M: 2.89%
• YTD: 9.43%
• 6M: 9.64%
• 1Y: 23.22%
• 3Y*: 16.45%
• 5Y*: 9.42%
• 10Y*: 8.29%

LMGTX

• 1D: 2.05%
• 1M: 5.08%
• YTD: 8.45%
• 6M: 8.35%
• 1Y: 18.09%
• 3Y*: 12.06%
• 5Y*: 4.56%
• 10Y*: 9.60%

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

LMGEX vs. LMGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMGEX Franklin International Equity Fund	9.43%	32.05%	3.42%	18.48%	-13.55%	12.87%	2.74%	17.61%	-16.67%	23.58%
LMGTX ClearBridge International Growth Fund	8.45%	21.83%	6.39%	13.17%	-21.97%	2.93%	23.55%	30.01%	-10.28%	35.09%

Correlation

The correlation between LMGEX and LMGTX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 17, 1995	0.67

Over the past year, LMGEX and LMGTX have become more correlated (0.92) than their long-term average of 0.67, meaning their price movements have been converging.

Return for Risk

LMGEX vs. LMGTX — Risk / Return Rank

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

LMGEX

LMGEX Risk / Return Rank: 29
LMGEX Sharpe Ratio Rank: 28
LMGEX Sortino Ratio Rank: 28
LMGEX Omega Ratio Rank: 27
LMGEX Calmar Ratio Rank: 29
LMGEX Martin Ratio Rank: 32

LMGTX

LMGTX Risk / Return Rank: 14
LMGTX Sharpe Ratio Rank: 13
LMGTX Sortino Ratio Rank: 13
LMGTX Omega Ratio Rank: 13
LMGTX Calmar Ratio Rank: 14
LMGTX Martin Ratio Rank: 18

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.

LMGEX vs. LMGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin International Equity Fund (LMGEX) and ClearBridge International Growth Fund (LMGTX). 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.

	LMGEX	LMGTX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.91	+0.51
Sortino ratio: Return per unit of downside risk	2.05	1.38	+0.67
Omega ratio: Gain probability vs. loss probability	1.26	1.17	+0.09
Calmar ratio: Return relative to maximum drawdown	1.90	1.25	+0.65
Martin ratio: Return relative to average drawdown	6.74	4.48	+2.26

LMGEX vs. LMGTX - Sharpe Ratio Comparison

The current LMGEX Sharpe Ratio is 1.42, which is higher than the LMGTX Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of LMGEX and LMGTX, 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

LMGEX vs. LMGTX - Drawdown Comparison

The maximum LMGEX drawdown since its inception was -63.37%, smaller than the maximum LMGTX drawdown of -71.47%. Use the drawdown chart below to compare losses from any high point for LMGEX and LMGTX.

Drawdown Indicators

	LMGEX	LMGTX	Difference
Max Drawdown Largest peak-to-trough decline	-63.37%	-71.47%	+8.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.64%	-13.71%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-14.53%	+1.48%
Max Drawdown (5Y) Largest decline over 5 years	-28.98%	-35.65%	+6.67%
Max Drawdown (10Y) Largest decline over 10 years	-39.79%	-35.65%	-4.14%
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-18.19%	-16.47%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	3.82%	-0.54%

Volatility

LMGEX vs. LMGTX - Volatility Comparison

The current volatility for Franklin International Equity Fund (LMGEX) is 4.88%, while ClearBridge International Growth Fund (LMGTX) has a volatility of 7.59%. This indicates that LMGEX experiences smaller price fluctuations and is considered to be less risky than LMGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMGEX	LMGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	7.59%	-2.71%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	16.23%	-3.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	18.78%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	17.98%	-2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	17.46%	-1.27%

LMGEX vs. LMGTX - Expense Ratio Comparison

LMGEX has a 2.05% expense ratio, which is higher than LMGTX's 1.80% expense ratio.

Dividends

LMGEX vs. LMGTX - Dividend Comparison

LMGEX's dividend yield for the trailing twelve months is around 7.57%, more than LMGTX's 7.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMGEX Franklin International Equity Fund	7.57%	8.28%	5.68%	1.51%	2.88%	5.10%	0.58%	0.49%	1.62%	1.60%	1.30%	0.91%
LMGTX ClearBridge International Growth Fund	7.20%	7.81%	0.54%	0.48%	0.07%	2.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LMGEX and LMGTX in my portfolio?

With a correlation of 0.92, LMGEX and LMGTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LMGEX or LMGTX?

LMGTX has higher volatility (7.59%) compared to LMGEX (4.88%). In terms of maximum drawdown, LMGEX dropped -63.37% vs LMGTX's -71.47%.

Which has better risk-adjusted returns?

LMGEX currently has the higher Sharpe Ratio (1.42 vs 0.91), 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.