AGEYX vs. VEMBX

Last updated Jun 5, 2026

AGEYX (American Beacon Developing World Income Fund Class Y) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 5 years, AGEYX returned 8.14%/yr vs 4.21%/yr for VEMBX. A 0.66 correlation means they provide meaningful diversification when combined. AGEYX charges 1.14%/yr vs 0.55%/yr for VEMBX.

Performance

AGEYX vs. VEMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Developing World Income Fund Class Y (AGEYX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGEYX achieves a 6.85% return, which is significantly higher than VEMBX's 2.50% return.

AGEYX

• 1D: 0.13%
• 1M: 1.40%
• YTD: 6.85%
• 6M: 8.45%
• 1Y: 20.71%
• 3Y*: 17.26%
• 5Y*: 8.14%
• 10Y*: 7.91%

VEMBX

• 1D: -0.28%
• 1M: 0.59%
• YTD: 2.50%
• 6M: 3.19%
• 1Y: 12.48%
• 3Y*: 11.57%
• 5Y*: 4.21%
• 10Y*: —

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

AGEYX vs. VEMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AGEYX American Beacon Developing World Income Fund Class Y	6.85%	19.15%	15.85%	13.10%	-12.62%	6.91%	2.54%	13.49%	-3.42%	15.26%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	2.50%	14.32%	7.38%	13.66%	-13.18%	-1.53%	14.99%	17.72%	-0.89%	13.12%

Correlation

The correlation between AGEYX and VEMBX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.66

The correlation between AGEYX and VEMBX has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.

Return for Risk

AGEYX vs. VEMBX — Risk / Return Rank

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

AGEYX

AGEYX Risk / Return Rank: 98
AGEYX Sharpe Ratio Rank: 100
AGEYX Sortino Ratio Rank: 99
AGEYX Omega Ratio Rank: 99
AGEYX Calmar Ratio Rank: 97
AGEYX Martin Ratio Rank: 98

VEMBX

VEMBX Risk / Return Rank: 86
VEMBX Sharpe Ratio Rank: 90
VEMBX Sortino Ratio Rank: 94
VEMBX Omega Ratio Rank: 87
VEMBX Calmar Ratio Rank: 78
VEMBX Martin Ratio Rank: 83

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.

AGEYX vs. VEMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Developing World Income Fund Class Y (AGEYX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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.

	AGEYX	VEMBX	Difference
Sharpe ratio: Return per unit of total volatility	5.79	3.02	+2.77
Sortino ratio: Return per unit of downside risk	9.68	4.91	+4.76
Omega ratio: Gain probability vs. loss probability	2.64	1.62	+1.02
Calmar ratio: Return relative to maximum drawdown	6.83	3.51	+3.32
Martin ratio: Return relative to average drawdown	30.65	15.48	+15.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGEYX vs. VEMBX - Sharpe Ratio Comparison

The current AGEYX Sharpe Ratio is 5.79, which is higher than the VEMBX Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of AGEYX and VEMBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AGEYX	VEMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.79	3.02	+2.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.59	0.67	+0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	1.07	+0.31

Drawdowns

AGEYX vs. VEMBX - Drawdown Comparison

The maximum AGEYX drawdown since its inception was -22.24%, smaller than the maximum VEMBX drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for AGEYX and VEMBX.

Drawdown Indicators

	AGEYX	VEMBX	Difference
Max Drawdown Largest peak-to-trough decline	-22.24%	-24.36%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-3.77%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-5.56%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	-24.36%	+2.12%
Max Drawdown (10Y) Largest decline over 10 years	-22.24%	—	—
Current Drawdown Current decline from peak	0.00%	-0.28%	+0.28%
Average Drawdown Average peak-to-trough decline	-3.55%	-3.87%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.85%	-0.15%

Volatility

AGEYX vs. VEMBX - Volatility Comparison

The current volatility for American Beacon Developing World Income Fund Class Y (AGEYX) is 0.83%, while Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) has a volatility of 1.45%. This indicates that AGEYX experiences smaller price fluctuations and is considered to be less risky than VEMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGEYX	VEMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	1.45%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	3.05%	3.58%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	4.38%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	6.36%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	6.36%	-1.37%

AGEYX vs. VEMBX - Expense Ratio Comparison

AGEYX has a 1.14% expense ratio, which is higher than VEMBX's 0.55% expense ratio.

Dividends

AGEYX vs. VEMBX - Dividend Comparison

AGEYX's dividend yield for the trailing twelve months is around 9.78%, more than VEMBX's 6.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGEYX American Beacon Developing World Income Fund Class Y	9.78%	9.99%	12.16%	9.64%	7.50%	7.90%	7.34%	8.61%	9.88%	7.30%	8.43%	7.03%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	6.02%	6.20%	6.86%	7.06%	5.43%	5.00%	4.50%	6.27%	4.81%	6.50%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGEYX and VEMBX in my portfolio?

AGEYX and VEMBX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGEYX or VEMBX?

VEMBX has higher volatility (1.45%) compared to AGEYX (0.83%). In terms of maximum drawdown, AGEYX dropped -22.24% vs VEMBX's -24.36%.

Which has better risk-adjusted returns?

AGEYX currently has the higher Sharpe Ratio (5.79 vs 3.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.