PGEIX vs. LCSMX

Last updated Jul 18, 2026

PGEIX (Polen Global Emerging Markets Growth Fund) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past year, PGEIX returned -5.26% vs 79.23% for LCSMX. A 0.75 correlation means they provide meaningful diversification when combined. PGEIX charges 1.25%/yr vs 0.00%/yr for LCSMX.

Performance

PGEIX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen Global Emerging Markets Growth Fund (PGEIX) and Martin Currie SMA-Shares Series EM Fund (LCSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGEIX achieves a -7.92% return, which is significantly lower than LCSMX's 39.42% return.

PGEIX

• 1D: -2.86%
• 1M: -7.83%
• 6M: -11.73%
• YTD: -7.92%
• 1Y: -5.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LCSMX

• 1D: -4.15%
• 1M: -13.87%
• 6M: 29.43%
• YTD: 39.42%
• 1Y: 79.23%
• 3Y*: 22.09%
• 5Y*: 8.10%
• 10Y*: —

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

PGEIX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025
PGEIX Polen Global Emerging Markets Growth Fund	-7.92%	16.07%
LCSMX Martin Currie SMA-Shares Series EM Fund	39.42%	45.84%

Correlation

The correlation between PGEIX and LCSMX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025	0.75

The correlation between PGEIX and LCSMX has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

Return for Risk

PGEIX vs. LCSMX — Risk / Return Rank

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

PGEIX

PGEIX Risk / Return Rank: 2
PGEIX Sharpe Ratio Rank: 2
PGEIX Sortino Ratio Rank: 3
PGEIX Omega Ratio Rank: 3
PGEIX Calmar Ratio Rank: 2
PGEIX Martin Ratio Rank: 2

LCSMX

LCSMX Risk / Return Rank: 84
LCSMX Sharpe Ratio Rank: 86
LCSMX Sortino Ratio Rank: 67
LCSMX Omega Ratio Rank: 82
LCSMX Calmar Ratio Rank: 93
LCSMX Martin Ratio Rank: 92

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.

PGEIX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen Global Emerging Markets Growth Fund (PGEIX) and Martin Currie SMA-Shares Series EM Fund (LCSMX). 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.

	PGEIX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	2.36	-2.49
Sortino ratio: Return per unit of downside risk	0.08	2.67	-2.59
Omega ratio: Gain probability vs. loss probability	1.01	1.43	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.16	4.16	-4.31
Martin ratio: Return relative to average drawdown	-0.40	15.08	-15.48

PGEIX vs. LCSMX - Sharpe Ratio Comparison

The current PGEIX Sharpe Ratio is -0.13, which is lower than the LCSMX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of PGEIX and LCSMX, 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

PGEIX vs. LCSMX - Drawdown Comparison

The maximum PGEIX drawdown since its inception was -31.29%, smaller than the maximum LCSMX drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for PGEIX and LCSMX.

Drawdown Indicators

	PGEIX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-39.72%	+8.43%
Max Drawdown (1Y) Largest decline over 1 year	-31.29%	-19.00%	-12.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-39.72%	—
Current Drawdown Current decline from peak	-31.29%	-19.00%	-12.29%
Average Drawdown Average peak-to-trough decline	-6.50%	-13.66%	+7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.71%	5.22%	+6.49%

Volatility

PGEIX vs. LCSMX - Volatility Comparison

The current volatility for Polen Global Emerging Markets Growth Fund (PGEIX) is 12.59%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 17.55%. This indicates that PGEIX experiences smaller price fluctuations and is considered to be less risky than LCSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGEIX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.59%	17.55%	-4.96%
Volatility (6M) Calculated over the trailing 6-month period	36.29%	31.82%	+4.47%
Volatility (1Y) Calculated over the trailing 1-year period	37.98%	33.47%	+4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.20%	21.60%	+13.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.20%	21.28%	+13.92%

PGEIX vs. LCSMX - Expense Ratio Comparison

PGEIX has a 1.25% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

PGEIX vs. LCSMX - Dividend Comparison

PGEIX has not paid dividends to shareholders, while LCSMX's dividend yield for the trailing twelve months is around 0.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
LCSMX Martin Currie SMA-Shares Series EM Fund	0.72%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%
PGEIX Polen Global Emerging Markets Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PGEIX and LCSMX in my portfolio?

PGEIX and LCSMX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGEIX or LCSMX?

LCSMX has higher volatility (17.55%) compared to PGEIX (12.59%). In terms of maximum drawdown, PGEIX dropped -31.29% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (2.36 vs -0.13), 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.