DBLEX vs. PREMX

Last updated Jun 4, 2026

DBLEX (DoubleLine Emerging Markets Fixed Income Fund) and PREMX (T. Rowe Price Emerging Markets Bond Fund) are both Emerging Markets Bonds funds. Over the past 10 years, DBLEX returned 3.86%/yr vs 4.55%/yr for PREMX. A 0.67 correlation means they provide meaningful diversification when combined. DBLEX charges 0.90%/yr vs 0.99%/yr for PREMX.

Performance

DBLEX vs. PREMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Emerging Markets Fixed Income Fund (DBLEX) and T. Rowe Price Emerging Markets Bond Fund (PREMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBLEX achieves a 1.39% return, which is significantly lower than PREMX's 3.21% return. Over the past 10 years, DBLEX has underperformed PREMX with an annualized return of 3.86%, while PREMX has yielded a comparatively higher 4.55% annualized return.

DBLEX

• 1D: 0.11%
• 1M: 0.36%
• YTD: 1.39%
• 6M: 1.64%
• 1Y: 6.51%
• 3Y*: 8.33%
• 5Y*: 2.18%
• 10Y*: 3.86%

PREMX

• 1D: 0.20%
• 1M: 1.19%
• YTD: 3.21%
• 6M: 4.32%
• 1Y: 15.49%
• 3Y*: 14.96%
• 5Y*: 4.74%
• 10Y*: 4.55%

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

DBLEX vs. PREMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBLEX DoubleLine Emerging Markets Fixed Income Fund	1.39%	8.39%	8.20%	9.64%	-15.30%	1.97%	4.85%	11.80%	-3.20%	8.48%
PREMX T. Rowe Price Emerging Markets Bond Fund	3.21%	16.55%	10.84%	18.52%	-18.37%	-2.44%	4.63%	11.34%	-7.22%	9.02%

Correlation

The correlation between DBLEX and PREMX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010	0.67

The correlation between DBLEX and PREMX shifts across timeframes, from 0.64 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DBLEX vs. PREMX — Risk / Return Rank

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

DBLEX

DBLEX Risk / Return Rank: 89
DBLEX Sharpe Ratio Rank: 94
DBLEX Sortino Ratio Rank: 94
DBLEX Omega Ratio Rank: 95
DBLEX Calmar Ratio Rank: 80
DBLEX Martin Ratio Rank: 80

PREMX

PREMX Risk / Return Rank: 92
PREMX Sharpe Ratio Rank: 96
PREMX Sortino Ratio Rank: 97
PREMX Omega Ratio Rank: 95
PREMX Calmar Ratio Rank: 83
PREMX Martin Ratio Rank: 87

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.

DBLEX vs. PREMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Emerging Markets Fixed Income Fund (DBLEX) and T. Rowe Price Emerging Markets Bond Fund (PREMX). 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.

	DBLEX	PREMX	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.58	-0.35
Sortino ratio: Return per unit of downside risk	4.91	5.85	-0.95
Omega ratio: Gain probability vs. loss probability	1.76	1.76	0.00
Calmar ratio: Return relative to maximum drawdown	3.68	3.89	-0.21
Martin ratio: Return relative to average drawdown	15.00	16.76	-1.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBLEX vs. PREMX - Sharpe Ratio Comparison

The current DBLEX Sharpe Ratio is 3.23, which is comparable to the PREMX Sharpe Ratio of 3.58. The chart below compares the historical Sharpe Ratios of DBLEX and PREMX, 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

	DBLEX	PREMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.23	3.58	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.72	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.64	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.87	+0.14

Drawdowns

DBLEX vs. PREMX - Drawdown Comparison

The maximum DBLEX drawdown since its inception was -25.43%, smaller than the maximum PREMX drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for DBLEX and PREMX.

Drawdown Indicators

	DBLEX	PREMX	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-43.95%	+18.52%
Max Drawdown (1Y) Largest decline over 1 year	-1.81%	-4.10%	+2.29%
Max Drawdown (3Y) Largest decline over 3 years	-4.54%	-5.88%	+1.34%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-31.69%	+6.26%
Max Drawdown (10Y) Largest decline over 10 years	-25.43%	-31.69%	+6.26%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.49%	-5.16%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.95%	-0.51%

Volatility

DBLEX vs. PREMX - Volatility Comparison

The current volatility for DoubleLine Emerging Markets Fixed Income Fund (DBLEX) is 0.74%, while T. Rowe Price Emerging Markets Bond Fund (PREMX) has a volatility of 1.54%. This indicates that DBLEX experiences smaller price fluctuations and is considered to be less risky than PREMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBLEX	PREMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	1.54%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	1.54%	3.48%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	4.46%	-2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.52%	6.65%	-2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	7.14%	-2.49%

DBLEX vs. PREMX - Expense Ratio Comparison

DBLEX has a 0.90% expense ratio, which is lower than PREMX's 0.99% expense ratio.

Dividends

DBLEX vs. PREMX - Dividend Comparison

DBLEX's dividend yield for the trailing twelve months is around 5.58%, less than PREMX's 6.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLEX DoubleLine Emerging Markets Fixed Income Fund	5.58%	5.59%	5.97%	5.54%	4.77%	4.00%	4.37%	4.57%	3.83%	4.33%	4.54%	5.21%
PREMX T. Rowe Price Emerging Markets Bond Fund	6.18%	7.69%	9.95%	9.36%	3.96%	4.63%	4.55%	5.24%	5.29%	7.01%	6.45%	6.59%

Frequently Asked Questions

Can I hold both DBLEX and PREMX in my portfolio?

DBLEX and PREMX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBLEX or PREMX?

PREMX has higher volatility (1.54%) compared to DBLEX (0.74%). In terms of maximum drawdown, DBLEX dropped -25.43% vs PREMX's -43.95%.

Which has better risk-adjusted returns?

PREMX currently has the higher Sharpe Ratio (3.58 vs 3.23), 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.