PEMYX vs. FCEEX

Last updated Aug 4, 2026

PEMYX (Putnam Emerging Markets Equity Fund) and FCEEX (Franklin Emerging Market Core Equity (IU) Fund Advisor) are both Emerging Markets Equities funds. Over the past 5 years, PEMYX returned 7.96%/yr vs 9.83%/yr for FCEEX. Their correlation of 0.91 means they have usually moved in the same direction. PEMYX charges 1.08%/yr vs 0.17%/yr for FCEEX.

Performance

PEMYX vs. FCEEX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with PEMYX having a 20.03% return and FCEEX slightly lower at 19.99%.

PEMYX

• 1D: 2.17%
• 1M: -1.99%
• 6M: 9.84%
• YTD: 20.03%
• 1Y: 38.28%
• 3Y*: 23.38%
• 5Y*: 7.96%
• 10Y*: 10.89%
• ALL TIME*: 7.16%

FCEEX

• 1D: 1.78%
• 1M: -0.67%
• 6M: 10.28%
• YTD: 19.99%
• 1Y: 38.36%
• 3Y*: 21.86%
• 5Y*: 9.83%
• 10Y*: —
• ALL TIME*: 10.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	$0.00	$0.00	$0.00
PEMYX Putnam Emerging Markets Equity Fund	$0.00	$0.00	$0.00

PEMYX vs. FCEEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PEMYX Putnam Emerging Markets Equity Fund	20.03%	33.48%	16.22%	12.16%	-27.42%	-3.85%	37.11%	11.58%
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	19.99%	34.81%	10.51%	12.52%	-16.96%	-1.29%	10.19%	9.77%

Correlation

The correlation between PEMYX and FCEEX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.91

The correlation between PEMYX and FCEEX has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

Return for Risk

PEMYX vs. FCEEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEMYX

PEMYX Risk / Return Rank: 60
PEMYX Sharpe Ratio Rank: 58
PEMYX Sortino Ratio Rank: 47
PEMYX Omega Ratio Rank: 62
PEMYX Calmar Ratio Rank: 74
PEMYX Martin Ratio Rank: 60

FCEEX

FCEEX Risk / Return Rank: 65
FCEEX Sharpe Ratio Rank: 63
FCEEX Sortino Ratio Rank: 52
FCEEX Omega Ratio Rank: 65
FCEEX Calmar Ratio Rank: 80
FCEEX Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEMYX vs. FCEEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Emerging Markets Equity Fund (PEMYX) 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.

	PEMYX	FCEEX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.62	-0.06
Sortino ratio: Return per unit of downside risk	2.06	2.13	-0.08
Omega ratio: Gain probability vs. loss probability	1.30	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.53	2.72	-0.19
Martin ratio: Return relative to average drawdown	8.32	8.58	-0.25

PEMYX vs. FCEEX - Sharpe Ratio Comparison

The current PEMYX Sharpe Ratio is 1.56, which is comparable to the FCEEX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of PEMYX 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

PEMYX vs. FCEEX - Drawdown Comparison

The maximum PEMYX drawdown since its inception was -45.25%, which is greater than FCEEX's maximum drawdown of -34.68%. Use the drawdown chart below to compare losses from any high point for PEMYX and FCEEX.

Drawdown Indicators

	PEMYX	FCEEX	Difference
Max Drawdown Largest peak-to-trough decline	-45.25%	-34.68%	-10.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.46%	-13.53%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-14.46%	-15.47%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-30.92%	-9.57%
Max Drawdown (10Y) Largest decline over 10 years	-45.16%	—	—
Current Drawdown Current decline from peak	-9.25%	-8.25%	-1.00%
Average Drawdown Average peak-to-trough decline	-16.28%	-11.13%	-5.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	4.28%	+0.10%

Volatility

PEMYX vs. FCEEX - Volatility Comparison

Putnam Emerging Markets Equity Fund (PEMYX) and Franklin Emerging Market Core Equity (IU) Fund Advisor (FCEEX) have volatilities of 10.16% and 9.70%, 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

	PEMYX	FCEEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.16%	9.70%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	21.54%	20.64%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	23.37%	22.74%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.28%	17.96%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	19.00%	-0.57%

PEMYX vs. FCEEX - Expense Ratio Comparison

PEMYX has a 1.08% expense ratio, which is higher than FCEEX's 0.17% expense ratio.

Dividends

PEMYX vs. FCEEX - Dividend Comparison

PEMYX's dividend yield for the trailing twelve months is around 0.65%, less than FCEEX's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCEEX Franklin Emerging Market Core Equity (IU) Fund Advisor	3.55%	3.29%	4.17%	4.36%	4.08%	3.38%	2.98%	0.40%	0.00%	0.00%	0.00%	0.00%
PEMYX Putnam Emerging Markets Equity Fund	0.65%	0.78%	1.85%	0.99%	0.00%	5.27%	1.78%	1.40%	2.16%	0.24%	1.18%	1.50%

Frequently Asked Questions

Can I hold both PEMYX and FCEEX in my portfolio?

With a correlation of 0.98, PEMYX 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, PEMYX or FCEEX?

PEMYX has higher volatility (10.16%) compared to FCEEX (9.70%). In terms of maximum drawdown, PEMYX dropped -45.25% vs FCEEX's -34.68%.

Which has better risk-adjusted returns?

FCEEX currently has the higher Sharpe Ratio (1.62 vs 1.56), 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.