ODMAX vs. FQEMX

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Developing Markets Fund (ODMAX) and Franklin Templeton SMACS: Series EM (FQEMX).

ODMAX is managed by Invesco. It was launched on Nov 17, 1996. FQEMX is managed by Franklin Templeton. It was launched on Nov 21, 2021.

Performance

ODMAX vs. FQEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Developing Markets Fund (ODMAX) and Franklin Templeton SMACS: Series EM (FQEMX). The values are adjusted to include any dividend payments, if applicable.

ODMAX vs. FQEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ODMAX Invesco Developing Markets Fund	2.97%	28.34%	-1.39%	11.17%	-25.16%	-7.83%
FQEMX Franklin Templeton SMACS: Series EM	12.06%	55.98%	6.67%	12.18%	-20.68%	0.32%

Returns By Period

In the year-to-date period, ODMAX achieves a 2.97% return, which is significantly lower than FQEMX's 12.06% return.

ODMAX

• 1D: 3.00%
• 1M: -8.13%
• YTD: 2.97%
• 6M: 7.26%
• 1Y: 28.57%
• 3Y*: 9.19%
• 5Y*: -0.46%
• 10Y*: 6.05%

FQEMX

• 1D: 3.12%
• 1M: -15.56%
• YTD: 12.06%
• 6M: 27.82%
• 1Y: 70.93%
• 3Y*: 25.83%
• 5Y*: —
• 10Y*: —

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

ODMAX vs. FQEMX - Expense Ratio Comparison

ODMAX has a 1.24% expense ratio, which is higher than FQEMX's 0.00% expense ratio.

ODMAX

Invesco Developing Markets Fund

FQEMX

Franklin Templeton SMACS: Series EM

Return for Risk

ODMAX vs. FQEMX — Risk / Return Rank

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

ODMAX

ODMAX Risk / Return Rank: 82
ODMAX Sharpe Ratio Rank: 85
ODMAX Sortino Ratio Rank: 83
ODMAX Omega Ratio Rank: 80
ODMAX Calmar Ratio Rank: 84
ODMAX Martin Ratio Rank: 81

FQEMX

FQEMX Risk / Return Rank: 96
FQEMX Sharpe Ratio Rank: 98
FQEMX Sortino Ratio Rank: 96
FQEMX Omega Ratio Rank: 96
FQEMX Calmar Ratio Rank: 95
FQEMX Martin Ratio Rank: 95

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.

ODMAX vs. FQEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund (ODMAX) and Franklin Templeton SMACS: Series EM (FQEMX). 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.

	ODMAX	FQEMX	Difference
Sharpe ratio Return per unit of total volatility	1.68	3.07	-1.39
Sortino ratio Return per unit of downside risk	2.22	3.44	-1.22
Omega ratio Gain probability vs. loss probability	1.32	1.55	-0.23
Calmar ratio Return relative to maximum drawdown	2.18	3.47	-1.30
Martin ratio Return relative to average drawdown	8.51	13.65	-5.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ODMAX vs. FQEMX - Sharpe Ratio Comparison

The current ODMAX Sharpe Ratio is 1.68, which is lower than the FQEMX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of ODMAX and FQEMX, 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

	ODMAX	FQEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	3.07	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.62	-0.12

Correlation

The correlation between ODMAX and FQEMX is 0.83, 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

ODMAX vs. FQEMX - Dividend Comparison

ODMAX's dividend yield for the trailing twelve months is around 40.35%, more than FQEMX's 2.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ODMAX Invesco Developing Markets Fund	40.35%	41.55%	0.01%	0.53%	0.57%	5.01%	0.00%	2.12%	0.28%	0.30%	0.23%	0.43%
FQEMX Franklin Templeton SMACS: Series EM	2.84%	3.18%	3.15%	4.82%	3.93%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ODMAX vs. FQEMX - Drawdown Comparison

The maximum ODMAX drawdown since its inception was -61.63%, which is greater than FQEMX's maximum drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for ODMAX and FQEMX.

Drawdown Indicators

	ODMAX	FQEMX	Difference
Max Drawdown Largest peak-to-trough decline	-61.63%	-34.46%	-27.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.08%	-18.93%	+6.85%
Max Drawdown (5Y) Largest decline over 5 years	-45.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.23%	—	—
Current Drawdown Current decline from peak	-9.44%	-16.40%	+6.96%
Average Drawdown Average peak-to-trough decline	-14.66%	-11.08%	-3.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	4.81%	-1.72%

Volatility

ODMAX vs. FQEMX - Volatility Comparison

The current volatility for Invesco Developing Markets Fund (ODMAX) is 8.46%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 14.20%. This indicates that ODMAX experiences smaller price fluctuations and is considered to be less risky than FQEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ODMAX	FQEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.46%	14.20%	-5.74%
Volatility (6M) Calculated over the trailing 6-month period	12.92%	20.17%	-7.25%
Volatility (1Y) Calculated over the trailing 1-year period	17.52%	24.14%	-6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.60%	19.73%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.74%	19.73%	-1.99%