RWCEX vs. FQEMX

Last updated Apr 1, 2026

Compare and contrast key facts about Redwheel Global Emerging Equity Fund (RWCEX) and Franklin Templeton SMACS: Series EM (FQEMX).

RWCEX is managed by RWC. It was launched on Dec 29, 2016. FQEMX is managed by Franklin Templeton. It was launched on Nov 21, 2021.

Performance

RWCEX vs. FQEMX - Performance Comparison

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

RWCEX vs. FQEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWCEX Redwheel Global Emerging Equity Fund	-0.41%	40.13%	-1.85%	5.59%	-24.47%	-6.94%
FQEMX Franklin Templeton SMACS: Series EM	8.67%	55.98%	6.67%	12.18%	-20.68%	0.32%

Returns By Period

In the year-to-date period, RWCEX achieves a -0.41% return, which is significantly lower than FQEMX's 8.67% return.

RWCEX

• 1D: -0.82%
• 1M: -13.64%
• YTD: -0.41%
• 6M: 2.24%
• 1Y: 30.78%
• 3Y*: 11.72%
• 5Y*: 0.28%
• 10Y*: —

FQEMX

• 1D: -1.71%
• 1M: -18.11%
• YTD: 8.67%
• 6M: 23.96%
• 1Y: 65.76%
• 3Y*: 24.54%
• 5Y*: —
• 10Y*: —

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

RWCEX vs. FQEMX - Expense Ratio Comparison

RWCEX has a 1.22% expense ratio, which is higher than FQEMX's 0.00% expense ratio.

RWCEX

Redwheel Global Emerging Equity Fund

FQEMX

Franklin Templeton SMACS: Series EM

Return for Risk

RWCEX vs. FQEMX — Risk / Return Rank

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

RWCEX

RWCEX Risk / Return Rank: 75
RWCEX Sharpe Ratio Rank: 79
RWCEX Sortino Ratio Rank: 74
RWCEX Omega Ratio Rank: 71
RWCEX Calmar Ratio Rank: 77
RWCEX Martin Ratio Rank: 72

FQEMX

FQEMX Risk / Return Rank: 95
FQEMX Sharpe Ratio Rank: 98
FQEMX Sortino Ratio Rank: 95
FQEMX Omega Ratio Rank: 95
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.

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.

	RWCEX	FQEMX	Difference
Sharpe ratio Return per unit of total volatility	1.45	2.85	-1.40
Sortino ratio Return per unit of downside risk	1.88	3.24	-1.35
Omega ratio Gain probability vs. loss probability	1.27	1.52	-0.25
Calmar ratio Return relative to maximum drawdown	1.85	3.19	-1.34
Martin ratio Return relative to average drawdown	6.87	12.83	-5.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWCEX vs. FQEMX - Sharpe Ratio Comparison

The current RWCEX Sharpe Ratio is 1.45, which is lower than the FQEMX Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of RWCEX 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

	RWCEX	FQEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.85	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.58	-0.27

Correlation

The correlation between RWCEX and FQEMX is 0.76, 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

RWCEX vs. FQEMX - Dividend Comparison

RWCEX's dividend yield for the trailing twelve months is around 0.96%, less than FQEMX's 2.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
FQEMX Franklin Templeton SMACS: Series EM	2.93%	3.18%	3.15%	4.82%	3.93%	0.62%	0.00%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	RWCEX	FQEMX	Difference
Max Drawdown Largest peak-to-trough decline	-46.08%	-34.46%	-11.62%
Max Drawdown (1Y) Largest decline over 1 year	-14.62%	-18.93%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	-43.04%	—	—
Current Drawdown Current decline from peak	-14.62%	-18.93%	+4.31%
Average Drawdown Average peak-to-trough decline	-20.59%	-11.08%	-9.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	4.70%	-0.77%

Volatility

RWCEX vs. FQEMX - Volatility Comparison

The current volatility for Redwheel Global Emerging Equity Fund (RWCEX) is 8.90%, while Franklin Templeton SMACS: Series EM (FQEMX) has a volatility of 13.61%. 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.

Volatility by Period

	RWCEX	FQEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.90%	13.61%	-4.71%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	19.97%	-5.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.28%	24.01%	-3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	19.68%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.63%	19.68%	+0.95%