MXEOX vs. FCEEX

Last updated Jun 23, 2026

MXEOX (Great-West Emerging Markets Equity Fund) and FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) are both Emerging Markets Diversified funds. Over the past 5 years, MXEOX returned 8.58%/yr vs 10.79%/yr for FCEEX. Their correlation of 0.92 suggests significant overlap in exposure. MXEOX charges 1.23%/yr vs 0.17%/yr for FCEEX.

Performance

MXEOX vs. FCEEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Emerging Markets Equity Fund (MXEOX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXEOX achieves a 33.08% return, which is significantly higher than FCEEX's 30.02% return.

MXEOX

• 1D: 1.67%
• 1M: 7.46%
• YTD: 33.08%
• 6M: 34.70%
• 1Y: 58.66%
• 3Y*: 24.99%
• 5Y*: 8.58%
• 10Y*: —

FCEEX

• 1D: 2.96%
• 1M: 6.82%
• YTD: 30.02%
• 6M: 31.93%
• 1Y: 54.98%
• 3Y*: 25.96%
• 5Y*: 10.79%
• 10Y*: —

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

MXEOX vs. FCEEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXEOX Great-West Emerging Markets Equity Fund	33.08%	32.78%	9.84%	9.67%	-22.34%	-3.49%	18.39%	12.04%
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	30.02%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%

Correlation

The correlation between MXEOX and FCEEX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.92

The correlation between MXEOX and FCEEX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

MXEOX vs. FCEEX — Risk / Return Rank

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

MXEOX

MXEOX Risk / Return Rank: 88
MXEOX Sharpe Ratio Rank: 93
MXEOX Sortino Ratio Rank: 81
MXEOX Omega Ratio Rank: 86
MXEOX Calmar Ratio Rank: 91
MXEOX Martin Ratio Rank: 90

FCEEX

FCEEX Risk / Return Rank: 86
FCEEX Sharpe Ratio Rank: 90
FCEEX Sortino Ratio Rank: 79
FCEEX Omega Ratio Rank: 84
FCEEX Calmar Ratio Rank: 89
FCEEX Martin Ratio Rank: 89

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.

MXEOX vs. FCEEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Emerging Markets Equity Fund (MXEOX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX). 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.

	MXEOX	FCEEX	Difference
Sharpe ratio: Return per unit of total volatility	2.93	2.76	+0.18
Sortino ratio: Return per unit of downside risk	3.54	3.43	+0.11
Omega ratio: Gain probability vs. loss probability	1.55	1.51	+0.04
Calmar ratio: Return relative to maximum drawdown	4.40	4.23	+0.18
Martin ratio: Return relative to average drawdown	16.54	15.97	+0.57

MXEOX vs. FCEEX - Sharpe Ratio Comparison

The current MXEOX Sharpe Ratio is 2.93, which is comparable to the FCEEX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of MXEOX and FCEEX, 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

MXEOX vs. FCEEX - Drawdown Comparison

The maximum MXEOX drawdown since its inception was -41.05%, which is greater than FCEEX's maximum drawdown of -34.68%. Use the drawdown chart below to compare losses from any high point for MXEOX and FCEEX.

Drawdown Indicators

	MXEOX	FCEEX	Difference
Max Drawdown Largest peak-to-trough decline	-41.05%	-34.68%	-6.37%
Max Drawdown (1Y) Largest decline over 1 year	-13.95%	-12.98%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-15.47%	-1.78%
Max Drawdown (5Y) Largest decline over 5 years	-38.36%	-33.39%	-4.97%
Current Drawdown Current decline from peak	-0.06%	-0.58%	+0.52%
Average Drawdown Average peak-to-trough decline	-17.10%	-11.20%	-5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	3.42%	+0.23%

Volatility

MXEOX vs. FCEEX - Volatility Comparison

Great-West Emerging Markets Equity Fund (MXEOX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) have volatilities of 10.96% and 10.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXEOX	FCEEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.96%	10.46%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	18.59%	17.57%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	20.93%	19.90%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	17.41%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.36%	18.64%	+0.72%

MXEOX vs. FCEEX - Expense Ratio Comparison

MXEOX has a 1.23% expense ratio, which is higher than FCEEX's 0.17% expense ratio.

Dividends

MXEOX vs. FCEEX - Dividend Comparison

MXEOX's dividend yield for the trailing twelve months is around 0.75%, less than FCEEX's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	2.27%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%
MXEOX Great-West Emerging Markets Equity Fund	0.75%	1.00%	1.36%	2.01%	1.61%	3.42%	1.85%	0.94%	1.00%

Frequently Asked Questions

Can I hold both MXEOX and FCEEX in my portfolio?

With a correlation of 0.94, MXEOX and FCEEX 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, MXEOX or FCEEX?

MXEOX has higher volatility (10.96%) compared to FCEEX (10.46%). In terms of maximum drawdown, MXEOX dropped -41.05% vs FCEEX's -34.68%.

Which has better risk-adjusted returns?

MXEOX currently has the higher Sharpe Ratio (2.93 vs 2.76), 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.