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TCW Emerging Markets Local Currency Income Fund (TGWIX) Sharpe Ratio: 1.68

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

Under normal circumstances, the fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued or guaranteed by non-financial companies, financial institutions and government entities in Emerging Market Countries denominated in the local currencies of an issuer, and in derivative instruments that provide investment exposure to such securities. The fund is non-diversified.

TGWIX's Sharpe Ratio of 1.68 indicates that for each unit of volatility, it generates 1.68 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

TGWIX Sharpe Ratio Rank

TGWIX Sharpe Ratio Rank: 33.233
Below Average

TGWIX ranks above 33.2% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

TGWIX Sharpe Ratio Market Positioning

The chart shows TGWIX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.41 or lower
  • Yellow zone (middle 50%): 1.41 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.64+
  • Median: 2.09 — half of all investments score higher

How it compares to other similar mutual funds

The table compares TCW Emerging Markets Local Currency Income Fund's Sharpe Ratio with other mutual funds in the Emerging Markets Bonds category across multiple time periods, showing how TGWIX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
AGEPXAmerican Beacon Frontier Markets Income Fund5.73
AGEYXAmerican Beacon Developing World Income Fund Class Y5.72
EIDOXEaton Vance Emerging Markets Debt Opportunities Fund Class I5.61
APFOXArtisan Emerging Markets Debt Opportunities Fund5.58
EELDXEaton Vance Emerging Markets Debt Opportunities Fund5.46
GMCDXGMO Emerging Country Debt Fund5.07
GMOQXGMO Emerging Country Debt Fund Class VI5.05
FEMDXFranklin Emerging Market Debt Opportunities Fund4.86
DBLLXDoubleLine Low Duration Emerging Markets Fixed Income Fund4.80
SHCDXVirtus Stone Harbor Emerg Mkts Corp Dbt4.69
TGWIXTCW Emerging Markets Local Currency Income Fund1.68

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows TGWIX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when TGWIX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does TGWIX fit in your portfolio?

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