Best Emerging Markets funds
Ranking of the top 20 Emerging Markets funds (Equity) by composite score (risk-adjusted return). Updated 20/07/2026.
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 1.0 years (380 trading days), with daily data. The risk-free rate used is 2.0%.
Score formula (risk-adjusted return):
0.25·R² + 0.15·Sortino* + 0.2·DD* + 0.2·CAGR_excess* + 0.1·Volatility_inv* + 0.1·Ulcer_inv*
* Components normalized to the analyzed set of funds (best in set = 1, worst = 0). The drawdown term is 1 − (MaxDD / 25.0%)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 | Ret./MaxDD | Calmar |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | LU2051759202 | UBAM - Positive Impact Emerging Equity APC USD Accumulation | 0.684 | 0.957 | 46.82% | 44.65% | 18.61% | 2.29 | 2.21 | 8.15% | 5.75 | 5.48 |
| 2 | LU2051758659 | UBAM - Positive Impact Emerging Equity AC EUR Accumulation | 0.682 | 0.956 | 46.07% | 43.94% | 18.60% | 2.25 | 2.17 | 8.18% | 5.63 | 5.37 |
| 3 | IE000D5Y8NQ2 | PN SOUTH EM ALL CP EQTY-R1-EUR | 0.674 | 0.951 | 53.73% | 51.18% | 19.76% | 2.49 | 2.33 | 12.15% | 4.42 | 4.21 |
| 4 | LU0145471693 | GIS CENTRAL EASTERN EUROPEAN EQ DX EUR | 0.674 | 0.923 | 40.50% | 38.66% | 14.58% | 2.52 | 2.70 | 7.73% | 5.24 | 5.00 |
| 5 | LU0169248142 | GIS CENTRAL EASTERN EUROPEAN EQ EX EUR | 0.669 | 0.921 | 38.75% | 36.99% | 14.60% | 2.40 | 2.56 | 7.76% | 4.99 | 4.77 |
| 6 | LU0571085413 | VONTOBEL SUSTAINABLE EM LEADERS B AC USD | 0.664 | 0.946 | 47.39% | 45.33% | 20.29% | 2.14 | 2.09 | 11.36% | 4.17 | 3.99 |
| 7 | IE00BTC1N590 | NUMERIC EMER MKTS EQ D AC EUR | 0.660 | 0.936 | 48.80% | 46.52% | 20.33% | 2.19 | 2.00 | 11.78% | 4.14 | 3.95 |
| 8 | LU0562313402 | SISF FRONTIER MKT EQ A ACC USD | 0.660 | 0.903 | 31.27% | 29.89% | 11.33% | 2.46 | 2.49 | 8.22% | 3.81 | 3.64 |
| 9 | IE000DDQNQO2 | Ashoka WhiteOak Emerging Markets Equity Fund Class C USD Accumulation | 0.656 | 0.927 | 43.79% | 41.78% | 20.01% | 1.99 | 1.91 | 10.48% | 4.18 | 3.99 |
| 10 | LU0210529656 | JPMorgan Funds - Emerging Markets Equity Fund A (acc) - USD | 0.655 | 0.943 | 47.90% | 45.67% | 20.97% | 2.08 | 2.01 | 12.67% | 3.78 | 3.61 |
| 11 | LU0217576759 | JPMorgan Funds - Emerging Markets Equity Fund A (acc) - EUR | 0.654 | 0.943 | 47.86% | 45.63% | 20.73% | 2.10 | 1.96 | 12.78% | 3.75 | 3.57 |
| 12 | LU0040506734 | Vontobel Emerging Markets Eq A USD | 0.653 | 0.922 | 42.00% | 40.08% | 20.12% | 1.89 | 1.89 | 10.24% | 4.10 | 3.91 |
| 13 | LU0217576833 | JPMorgan Funds - Emerging Markets Equity Fund D (acc) - EUR | 0.651 | 0.941 | 46.70% | 44.54% | 20.70% | 2.05 | 1.92 | 12.80% | 3.65 | 3.48 |
| 14 | LU0132412106 | EMERGING MARKETS EQ A2 USD | 0.651 | 0.929 | 49.54% | 47.22% | 22.68% | 1.99 | 1.92 | 12.31% | 4.02 | 3.83 |
| 15 | LU0040507039 | EMERGING MARKETS EQ B ACC USD | 0.647 | 0.926 | 39.32% | 37.54% | 20.30% | 1.75 | 1.73 | 10.24% | 3.84 | 3.67 |
| 16 | FR0010149302 | Carmignac Emergents A EUR Acc | 0.646 | 0.923 | 43.90% | 41.88% | 21.44% | 1.86 | 1.80 | 11.10% | 3.95 | 3.77 |
| 17 | LU1670618690 | M&G (Lux) Global Emerging Markets Fund EUR A Acc | 0.645 | 0.927 | 35.56% | 34.17% | 16.64% | 1.93 | 1.81 | 10.57% | 3.36 | 3.23 |
| 18 | LU0329355670 | Robeco QI EM Active Equities D EUR | 0.644 | 0.914 | 39.85% | 38.04% | 19.42% | 1.86 | 1.83 | 10.79% | 3.69 | 3.53 |
| 19 | LU1159236097 | State Street Global Emerging Markets Screened Index Equity Fund P USD | 0.643 | 0.925 | 42.15% | 40.35% | 21.58% | 1.78 | 1.72 | 11.23% | 3.75 | 3.59 |
| 20 | FR0011147446 | Carmignac Emergents E EUR acc | 0.642 | 0.921 | 42.78% | 40.82% | 21.45% | 1.81 | 1.75 | 11.15% | 3.84 | 3.66 |
📊 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 20/07/2026.
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.