MEMKX vs. GLLSX

Last updated Jun 4, 2026

MEMKX (BNY Mellon Emerging Markets Fund) and GLLSX (abrdn Emerging Markets ex-China Fund) are both Emerging Markets Diversified funds. Over the past 10 years, MEMKX returned 9.89%/yr vs 15.05%/yr for GLLSX. A 0.78 correlation means they provide meaningful diversification when combined. MEMKX charges 1.43%/yr vs 1.23%/yr for GLLSX.

Performance

MEMKX vs. GLLSX - Performance Comparison

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

Returns By Period

In the year-to-date period, MEMKX achieves a 22.99% return, which is significantly lower than GLLSX's 46.58% return. Over the past 10 years, MEMKX has underperformed GLLSX with an annualized return of 9.89%, while GLLSX has yielded a comparatively higher 15.05% annualized return.

MEMKX

• 1D: 1.31%
• 1M: 8.19%
• YTD: 22.99%
• 6M: 24.43%
• 1Y: 45.37%
• 3Y*: 17.00%
• 5Y*: 6.36%
• 10Y*: 9.89%

GLLSX

• 1D: 0.17%
• 1M: 11.34%
• YTD: 46.58%
• 6M: 50.65%
• 1Y: 88.61%
• 3Y*: 29.36%
• 5Y*: 18.30%
• 10Y*: 15.05%

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

MEMKX vs. GLLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEMKX BNY Mellon Emerging Markets Fund	22.99%	25.51%	1.94%	7.55%	-21.50%	15.17%	12.95%	21.96%	-19.33%	42.59%
GLLSX abrdn Emerging Markets ex-China Fund	46.58%	34.81%	0.73%	21.35%	-23.04%	36.50%	15.93%	23.64%	-11.50%	23.06%

Correlation

The correlation between MEMKX and GLLSX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.78

The correlation between MEMKX and GLLSX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

MEMKX vs. GLLSX — Risk / Return Rank

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

MEMKX

MEMKX Risk / Return Rank: 84
MEMKX Sharpe Ratio Rank: 89
MEMKX Sortino Ratio Rank: 80
MEMKX Omega Ratio Rank: 82
MEMKX Calmar Ratio Rank: 88
MEMKX Martin Ratio Rank: 82

GLLSX

GLLSX Risk / Return Rank: 96
GLLSX Sharpe Ratio Rank: 99
GLLSX Sortino Ratio Rank: 94
GLLSX Omega Ratio Rank: 94
GLLSX Calmar Ratio Rank: 96
GLLSX Martin Ratio Rank: 96

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.

MEMKX vs. GLLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Emerging Markets Fund (MEMKX) and abrdn Emerging Markets ex-China Fund (GLLSX). 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.

	MEMKX	GLLSX	Difference
Sharpe ratio: Return per unit of total volatility	2.94	4.14	-1.21
Sortino ratio: Return per unit of downside risk	3.84	4.78	-0.94
Omega ratio: Gain probability vs. loss probability	1.55	1.74	-0.20
Calmar ratio: Return relative to maximum drawdown	4.39	6.17	-1.78
Martin ratio: Return relative to average drawdown	15.36	24.54	-9.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEMKX vs. GLLSX - Sharpe Ratio Comparison

The current MEMKX Sharpe Ratio is 2.94, which is comparable to the GLLSX Sharpe Ratio of 4.14. The chart below compares the historical Sharpe Ratios of MEMKX and GLLSX, 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

	MEMKX	GLLSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	4.14	-1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	1.02	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.85	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.69	-0.26

Drawdowns

MEMKX vs. GLLSX - Drawdown Comparison

The maximum MEMKX drawdown since its inception was -61.32%, which is greater than GLLSX's maximum drawdown of -32.59%. Use the drawdown chart below to compare losses from any high point for MEMKX and GLLSX.

Drawdown Indicators

	MEMKX	GLLSX	Difference
Max Drawdown Largest peak-to-trough decline	-61.32%	-32.59%	-28.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.57%	-14.39%	+3.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.43%	-20.95%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-31.12%	-30.02%	-1.10%
Max Drawdown (10Y) Largest decline over 10 years	-40.94%	-32.59%	-8.35%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.63%	-7.92%	-5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.61%	-0.59%

Volatility

MEMKX vs. GLLSX - Volatility Comparison

The current volatility for BNY Mellon Emerging Markets Fund (MEMKX) is 6.03%, while abrdn Emerging Markets ex-China Fund (GLLSX) has a volatility of 9.95%. This indicates that MEMKX experiences smaller price fluctuations and is considered to be less risky than GLLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEMKX	GLLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.03%	9.95%	-3.92%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	19.05%	-6.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	21.43%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.39%	18.09%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	17.80%	+0.19%

MEMKX vs. GLLSX - Expense Ratio Comparison

MEMKX has a 1.43% expense ratio, which is higher than GLLSX's 1.23% expense ratio.

Dividends

MEMKX vs. GLLSX - Dividend Comparison

MEMKX's dividend yield for the trailing twelve months is around 0.04%, less than GLLSX's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLLSX abrdn Emerging Markets ex-China Fund	1.28%	1.88%	0.74%	0.77%	29.32%	22.85%	0.00%	3.38%	9.47%	8.40%	1.09%	0.94%
MEMKX BNY Mellon Emerging Markets Fund	0.04%	0.04%	0.64%	0.04%	13.89%	10.27%	1.19%	1.14%	0.78%	0.79%	0.82%	0.97%

Frequently Asked Questions

Can I hold both MEMKX and GLLSX in my portfolio?

MEMKX and GLLSX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEMKX or GLLSX?

GLLSX has higher volatility (9.95%) compared to MEMKX (6.03%). In terms of maximum drawdown, MEMKX dropped -61.32% vs GLLSX's -32.59%.

Which has better risk-adjusted returns?

GLLSX currently has the higher Sharpe Ratio (4.14 vs 2.94), 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.