RWCEX vs. FQEMX
RWCEX (Redwheel Global Emerging Equity Fund) and FQEMX (Franklin Templeton SMACS: Series EM) are both Emerging Markets Equities funds. Over the past 3 years, RWCEX returned 9.11%/yr vs 33.43%/yr for FQEMX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. RWCEX charges 1.22%/yr vs 0.00%/yr for FQEMX.
Performance
RWCEX vs. FQEMX - Performance Comparison
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Returns By Period
In the year-to-date period, RWCEX achieves a -0.28% return, which is significantly lower than FQEMX's 40.66% return.
RWCEX
- 1D
- -1.30%
- 1M
- -5.74%
- 6M
- -12.74%
- YTD
- -0.28%
- 1Y
- 15.79%
- 3Y*
- 9.11%
- 5Y*
- 0.77%
- 10Y*
- —
- ALL TIME*
- 6.20%
FQEMX
- 1D
- -4.44%
- 1M
- -22.56%
- 6M
- 18.76%
- YTD
- 40.66%
- 1Y
- 75.23%
- 3Y*
- 33.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RWCEX vs. FQEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RWCEX Redwheel Global Emerging Equity Fund | -0.28% | 40.13% | -1.85% | 5.59% | -24.47% | -6.44% |
FQEMX Franklin Templeton SMACS: Series EM | 40.66% | 55.98% | 6.67% | 12.18% | -20.68% | 0.32% |
Correlation
The correlation between RWCEX and FQEMX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2021 | 0.76 |
The correlation between RWCEX and FQEMX has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
RWCEX vs. FQEMX — Risk / Return Rank
RWCEX
FQEMX
RWCEX vs. FQEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Redwheel Global Emerging Equity Fund (RWCEX) 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.
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.
| RWCEX | FQEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.38 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.87 | -1.79 |
| Martin ratioReturn relative to average drawdown | 2.73 | 10.77 | -8.04 |
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Drawdowns
RWCEX vs. FQEMX - Drawdown Comparison
The maximum RWCEX drawdown since its inception was -46.08%, which is greater than FQEMX's maximum drawdown of -34.46%. Use the drawdown chart below to compare losses from any high point for RWCEX and FQEMX.
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Drawdown Indicators
| RWCEX | FQEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.08% | -34.46% | -11.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.62% | -26.96% | +12.34% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -26.96% | +5.56% |
Max Drawdown (5Y)Largest decline over 5 years | -39.58% | — | — |
Current DrawdownCurrent decline from peak | -14.50% | -26.96% | +12.46% |
Average DrawdownAverage peak-to-trough decline | -20.12% | -10.80% | -9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 7.13% | -1.37% |
Volatility
RWCEX vs. FQEMX - Volatility Comparison
The current volatility for Redwheel Global Emerging Equity Fund (RWCEX) is 6.46%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 15.79%. This indicates that RWCEX 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.
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Volatility by Period
| RWCEX | FQEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 15.79% | -9.33% |
Volatility (6M)Calculated over the trailing 6-month period | 18.12% | 35.06% | -16.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.33% | 37.25% | -15.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.08% | 23.71% | -2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 23.71% | -2.92% |
RWCEX vs. FQEMX - Expense Ratio Comparison
RWCEX has a 1.22% expense ratio, which is higher than FQEMX's 0.00% expense ratio.
Dividends
RWCEX vs. FQEMX - Dividend Comparison
RWCEX's dividend yield for the trailing twelve months is around 0.96%, less than FQEMX's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FQEMX Franklin Templeton SMACS: Series EM | 2.26% | 3.18% | 3.15% | 4.82% | 3.93% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% |
RWCEX Redwheel Global Emerging Equity Fund | 0.96% | 0.96% | 1.27% | 0.68% | 0.54% | 16.01% | 0.24% | 0.49% | 0.14% | 1.47% |
Frequently Asked Questions
RWCEX and FQEMX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FQEMX has higher volatility (15.79%) compared to RWCEX (6.46%). In terms of maximum drawdown, RWCEX dropped -46.08% vs FQEMX's -34.46%.
FQEMX currently has the higher Sharpe Ratio (2.08 vs 0.74), 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.
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