PQEMX vs. LCSMX

Last updated Jun 24, 2026

PQEMX (PGIM Quant Solutions Emerging Markets Equity Fund) and LCSMX (Martin Currie SMA-Shares Series EM Fund) are both Emerging Markets Diversified funds. Over the past 5 years, PQEMX returned 11.71%/yr vs 12.84%/yr for LCSMX. A 0.77 correlation means they provide meaningful diversification when combined. PQEMX charges 1.20%/yr vs 0.00%/yr for LCSMX.

Performance

PQEMX vs. LCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Quant Solutions Emerging Markets Equity Fund (PQEMX) 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, PQEMX achieves a 33.04% return, which is significantly lower than LCSMX's 72.12% return.

PQEMX

• 1D: 0.68%
• 1M: 8.78%
• YTD: 33.04%
• 6M: 34.74%
• 1Y: 61.61%
• 3Y*: 29.10%
• 5Y*: 11.71%
• 10Y*: —

LCSMX

• 1D: 0.90%
• 1M: 14.54%
• YTD: 72.12%
• 6M: 78.24%
• 1Y: 133.51%
• 3Y*: 33.00%
• 5Y*: 12.84%
• 10Y*: —

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

PQEMX vs. LCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PQEMX PGIM Quant Solutions Emerging Markets Equity Fund	33.04%	35.22%	10.64%	13.61%	-16.02%	-0.90%	11.97%	15.18%	-19.65%
LCSMX Martin Currie SMA-Shares Series EM Fund	72.12%	51.52%	-13.60%	16.26%	-27.25%	4.73%	35.72%	6.81%	1.42%

Correlation

The correlation between PQEMX and LCSMX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.77

The correlation between PQEMX and LCSMX shifts across timeframes, from 0.77 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PQEMX vs. LCSMX — Risk / Return Rank

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

PQEMX

PQEMX Risk / Return Rank: 90
PQEMX Sharpe Ratio Rank: 95
PQEMX Sortino Ratio Rank: 85
PQEMX Omega Ratio Rank: 88
PQEMX Calmar Ratio Rank: 92
PQEMX Martin Ratio Rank: 93

LCSMX

LCSMX Risk / Return Rank: 97
LCSMX Sharpe Ratio Rank: 99
LCSMX Sortino Ratio Rank: 94
LCSMX Omega Ratio Rank: 96
LCSMX Calmar Ratio Rank: 98
LCSMX Martin Ratio Rank: 98

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.

PQEMX vs. LCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Quant Solutions Emerging Markets Equity Fund (PQEMX) 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.

	PQEMX	LCSMX	Difference
Sharpe ratio: Return per unit of total volatility	3.05	4.58	-1.52
Sortino ratio: Return per unit of downside risk	3.70	4.62	-0.91
Omega ratio: Gain probability vs. loss probability	1.57	1.79	-0.21
Calmar ratio: Return relative to maximum drawdown	4.73	8.72	-4.00
Martin ratio: Return relative to average drawdown	18.21	31.51	-13.31

PQEMX vs. LCSMX - Sharpe Ratio Comparison

The current PQEMX Sharpe Ratio is 3.05, which is lower than the LCSMX Sharpe Ratio of 4.58. The chart below compares the historical Sharpe Ratios of PQEMX 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

PQEMX vs. LCSMX - Drawdown Comparison

The maximum PQEMX drawdown since its inception was -39.90%, roughly equal to the maximum LCSMX drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for PQEMX and LCSMX.

Drawdown Indicators

	PQEMX	LCSMX	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-39.72%	-0.18%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-15.39%	+2.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-23.31%	+7.70%
Max Drawdown (5Y) Largest decline over 5 years	-32.38%	-39.72%	+7.34%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.06%	-13.68%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	4.25%	-0.84%

Volatility

PQEMX vs. LCSMX - Volatility Comparison

The current volatility for PGIM Quant Solutions Emerging Markets Equity Fund (PQEMX) is 10.66%, while Martin Currie SMA-Shares Series EM Fund (LCSMX) has a volatility of 17.02%. This indicates that PQEMX 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

	PQEMX	LCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	17.02%	-6.36%
Volatility (6M) Calculated over the trailing 6-month period	18.18%	27.15%	-8.97%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	29.39%	-8.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	20.37%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	20.62%	-3.08%

PQEMX vs. LCSMX - Expense Ratio Comparison

PQEMX has a 1.20% expense ratio, which is higher than LCSMX's 0.00% expense ratio.

Dividends

PQEMX vs. LCSMX - Dividend Comparison

PQEMX's dividend yield for the trailing twelve months is around 14.18%, more than LCSMX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCSMX Martin Currie SMA-Shares Series EM Fund	0.58%	1.00%	1.29%	1.22%	1.11%	3.03%	0.48%	0.88%	1.40%	0.00%
PQEMX PGIM Quant Solutions Emerging Markets Equity Fund	14.18%	18.87%	2.76%	3.40%	4.08%	3.41%	1.39%	2.06%	3.04%	6.46%

Frequently Asked Questions

Can I hold both PQEMX and LCSMX in my portfolio?

With a correlation of 0.91, PQEMX and LCSMX 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, PQEMX or LCSMX?

LCSMX has higher volatility (17.02%) compared to PQEMX (10.66%). In terms of maximum drawdown, PQEMX dropped -39.90% vs LCSMX's -39.72%.

Which has better risk-adjusted returns?

LCSMX currently has the higher Sharpe Ratio (4.58 vs 3.05), 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.