Best Emerging Markets funds
Ranking of the top 20 Emerging Markets funds (Equity) by composite score (risk-adjusted return). Updated 18/10/2026.
This page ranks 20 Emerging Markets funds, a subcategory of Equity, ordered by a composite score that rewards risk-adjusted return and curve stability while penalizing drawdowns. Use it to compare options within the same investment style before exploring each fund's history in the interactive view.
ℹ️ Methodology: period and indicators
All indicators are computed over the last 3 years of prices, with daily data. The risk-free rate used is 2.0%.
Score formula (risk-adjusted return):
0.15·R² + 0.15·Sortino* + 0.2·DD* + 0.2·CAGR_excess* + 0.1·Volatility_inv* + 0.2·Ulcer_inv*
* Components normalized to the analyzed set of funds (best in set = 1, worst = 0). The drawdown term is 1 − (MaxDD / 30.0%)3, clamped to [0,1]. Volatility and Ulcer are inverted (less = better).
A higher score means better relative behavior within the analyzed set, not an investment recommendation.
🏆 Ranking
| # | ISIN | Name | Score | R² | Total Ret. | Annual Ret. | Volatility | Sharpe | Sortino | Max Drawdown | Calmar |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | LU0145471693 | GIS CENTRAL EASTERN EUROPEAN EQ DX EUR | 0.620 | 0.952 | 123.11% | 30.60% | 14.99% | 1.91 | 1.91 | 12.96% | 2.36 |
| 2 | LU0582533245 | QI EMER CONSERVATIV EQ D AC EU | 0.602 | 0.876 | 59.28% | 16.75% | 11.16% | 1.32 | 1.25 | 12.49% | 1.34 |
| 3 | LU0106817157 | Schroder International Selection Fund Emerging Europe A Accumulation EUR | 0.588 | 0.943 | 116.78% | 29.32% | 16.65% | 1.64 | 1.56 | 15.47% | 1.90 |
| 4 | LU0562313402 | SISF FRONTIER MKT EQ A ACC USD | 0.587 | 0.904 | 68.01% | 18.82% | 11.86% | 1.42 | 1.33 | 15.61% | 1.21 |
| 5 | LU0251572144 | Schroder International Selection Fund Emerging Europe A1 Accumulation USD | 0.587 | 0.941 | 112.66% | 28.50% | 16.90% | 1.57 | 1.52 | 14.98% | 1.90 |
| 6 | LU0390137031 | TEMPLETON FRONT MKTS A ACC EUR | 0.587 | 0.871 | 57.87% | 16.39% | 10.86% | 1.32 | 1.28 | 14.43% | 1.14 |
| 7 | LU0133716950 | Schroder International Selection Fund Emerging Europe A1 Accumulation EUR | 0.586 | 0.941 | 113.55% | 28.68% | 16.65% | 1.60 | 1.52 | 15.50% | 1.85 |
| 8 | LU0106819104 | Schroder International Selection Fund Emerging Europe B Accumulation EUR | 0.585 | 0.940 | 112.91% | 28.55% | 16.65% | 1.59 | 1.52 | 15.50% | 1.84 |
| 9 | IE0004852103 | Barings Eastern Europe Fund Class A EUR Inc | 0.583 | 0.942 | 110.55% | 28.08% | 16.61% | 1.57 | 1.53 | 15.79% | 1.78 |
| 10 | IE000QAZP7L2 | iShares Emerging Markets Index Fund (IE) Acc EUR clase S | 0.576 | 0.900 | 35.48% | 30.22% | 21.72% | 1.30 | 1.24 | 13.54% | 2.23 |
| 11 | LU0078277505 | Templeton Eastern Europe Fund A(acc)EUR | 0.572 | 0.919 | 112.41% | 28.45% | 16.70% | 1.58 | 1.58 | 16.08% | 1.77 |
| 12 | IE00B5VSGF43 | GAM Star Fund plc - GAM Sustainable Emerging Equity EUR Class – Accumulation Shares | 0.567 | 0.917 | 97.96% | 25.50% | 19.27% | 1.22 | 1.21 | 15.50% | 1.65 |
| 13 | IE00B5B44815 | GAM Star Fund plc - GAM Sustainable Emerging Equity USD Class – Accumulation Shares | 0.567 | 0.917 | 97.82% | 25.47% | 19.27% | 1.22 | 1.21 | 15.50% | 1.64 |
| 14 | IE000DDQNQO2 | Ashoka WhiteOak Emerging Markets Equity Fund Class C USD Accumulation | 0.560 | 0.936 | 88.30% | 23.43% | 17.31% | 1.24 | 1.20 | 18.11% | 1.29 |
| 15 | IE00B68FF474 | MAGNA NEW FRONTIERS R EUR ACC | 0.559 | 0.869 | 39.74% | 11.78% | 12.02% | 0.81 | 0.81 | 16.56% | 0.71 |
| 16 | LU1112790040 | GAM Multistock - Emerging Markets Equity USD B | 0.557 | 0.906 | 59.52% | 16.81% | 15.99% | 0.93 | 0.90 | 16.64% | 1.01 |
| 17 | LU1112791014 | GAM Multistock - Emerging Markets Equity EUR B | 0.557 | 0.906 | 59.54% | 16.81% | 16.15% | 0.92 | 0.89 | 16.65% | 1.01 |
| 18 | LU0329355670 | Robeco QI EM Active Equities D EUR | 0.554 | 0.899 | 83.20% | 22.31% | 16.73% | 1.21 | 1.13 | 17.70% | 1.26 |
| 19 | IE00BKV0W243 | Vanguard ESG Emerging Markets All Cap Equity Index Fund EUR Acc | 0.554 | 0.930 | 57.07% | 16.19% | 14.80% | 0.96 | 0.90 | 18.34% | 0.88 |
| 20 | IE00BKV0W359 | Vanguard ESG Emerging Markets All Cap Equity Index Fund USD Acc | 0.554 | 0.930 | 57.07% | 16.19% | 14.80% | 0.96 | 0.90 | 18.34% | 0.88 |
📊 Compared evolution (base 100)
❓ Frequently asked questions
How is the fund ranking calculated?
Each fund gets a composite score from 0 to 1 that combines risk-adjusted return (excess CAGR and Sortino), curve stability (R² and inverted volatility) and drawdown control (a non-linear penalty plus the Ulcer Index). Funds are then ordered by that score.
What does the score mean for Emerging Markets funds?
A higher score means better relative behavior within the analyzed set: more stable growth and smaller drawdowns for the return achieved. It is a comparison tool, not an investment recommendation.
How often is the data updated?
The ranking is recomputed from daily NAV data each time the site is regenerated. This page was last updated on 18/10/2026.
Is this investment advice?
No. All content is educational and based on historical data. Past performance does not guarantee future results. Consult a licensed advisor before investing.