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Ashmore Emerging Markets Local Currency Bond Fund (ELBIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The fund seeks to achieve its objective by investing principally in debt instruments of Sovereign and Quasi-Sovereign issuers of Emerging Market Countries that are denominated in the local currency of the issuer. Sovereigns are governments of Emerging Market Countries. Quasi-Sovereigns are governmental entities, agencies and other issuers the obligations of which are guaranteed by an emerging market government and issuers otherwise represented in the J.P. Morgan Government Bond Index-Emerging Markets Global Diversified or a similar index as determined by the Investment Manager. The fund is non-diversified.

Looking to diversify beyond ELBIX? The mutual funds below have the lowest correlation with ELBIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ELBIX.

Best Diversifiers for ELBIX

1 mutual funds have low correlation with ELBIX (below 0.3), 0 of which are negatively correlated. The least correlated is Ashmore Emerging Markets Corporate Income Fund (EMCIX) (Emerging Markets Bonds) with a 1Y correlation of 0.27, roughly unchanged from 0.37 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
EMCIX
Ashmore Emerging Markets Corporate Income Fund0.270.290.37
62
Emerging Markets BondsELBIX vs EMCIX
DBLLX
DoubleLine Low Duration Emerging Markets Fixed Inc...0.340.400.41
98
Emerging Markets BondsELBIX vs DBLLX
ESCIX
Ashmore Emerging Markets Small Cap Equity Fund0.380.430.48
86
Emerging Markets DiversifiedELBIX vs ESCIX
DLENX
DoubleLine Emerging Markets Fixed Income Fund Clas...0.460.480.48
88
Emerging Markets BondsELBIX vs DLENX
DBLEX
DoubleLine Emerging Markets Fixed Income Fund0.460.460.47
89
Emerging Markets BondsELBIX vs DBLEX
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