EEIAX vs. DBLEX
EEIAX (Eaton Vance Emerging Markets Local Income Fund) and DBLEX (DoubleLine Emerging Markets Fixed Income Fund) are both Emerging Markets Bonds funds. Over the past 10 years, EEIAX returned 4.94%/yr vs 3.82%/yr for DBLEX. At a 0.41 correlation, their price movements are largely independent. EEIAX charges 1.19%/yr vs 0.90%/yr for DBLEX.
Performance
EEIAX vs. DBLEX - Performance Comparison
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Returns By Period
In the year-to-date period, EEIAX achieves a 4.30% return, which is significantly higher than DBLEX's 1.72% return. Over the past 10 years, EEIAX has outperformed DBLEX with an annualized return of 4.94%, while DBLEX has yielded a comparatively lower 3.82% annualized return.
EEIAX
- 1D
- 0.00%
- 1M
- 1.61%
- YTD
- 4.30%
- 6M
- 5.00%
- 1Y
- 16.81%
- 3Y*
- 9.55%
- 5Y*
- 4.10%
- 10Y*
- 4.94%
DBLEX
- 1D
- -0.11%
- 1M
- 1.14%
- YTD
- 1.72%
- 6M
- 1.75%
- 1Y
- 6.04%
- 3Y*
- 8.03%
- 5Y*
- 2.02%
- 10Y*
- 3.82%
EEIAX vs. DBLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEIAX Eaton Vance Emerging Markets Local Income Fund | 4.30% | 23.43% | -1.23% | 13.63% | -11.99% | -7.64% | 4.68% | 22.66% | -8.38% | 16.10% |
DBLEX DoubleLine Emerging Markets Fixed Income Fund | 1.72% | 8.39% | 8.20% | 9.64% | -15.30% | 1.97% | 4.85% | 11.80% | -3.20% | 8.48% |
Correlation
The correlation between EEIAX and DBLEX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2010 | 0.41 |
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Return for Risk
EEIAX vs. DBLEX — Risk / Return Rank
EEIAX
DBLEX
EEIAX vs. DBLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Local Income Fund (EEIAX) and DoubleLine Emerging Markets Fixed Income Fund (DBLEX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EEIAX | DBLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.68 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 3.41 | -1.13 |
| Martin ratioReturn relative to average drawdown | 8.18 | 13.91 | -5.72 |
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Drawdowns
EEIAX vs. DBLEX - Drawdown Comparison
The maximum EEIAX drawdown since its inception was -31.70%, which is greater than DBLEX's maximum drawdown of -25.43%. Use the drawdown chart below to compare losses from any high point for EEIAX and DBLEX.
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Drawdown Indicators
| EEIAX | DBLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -25.43% | -6.27% |
Max Drawdown (1Y)Largest decline over 1 year | -7.40% | -1.81% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -9.34% | -4.54% | -4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -25.94% | -25.43% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -28.43% | -25.43% | -3.00% |
Current DrawdownCurrent decline from peak | -1.58% | -0.11% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -3.47% | -5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.44% | +1.62% |
Volatility
EEIAX vs. DBLEX - Volatility Comparison
Eaton Vance Emerging Markets Local Income Fund (EEIAX) has a higher volatility of 2.05% compared to DoubleLine Emerging Markets Fixed Income Fund (DBLEX) at 0.55%. This indicates that EEIAX's price experiences larger fluctuations and is considered to be riskier than DBLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEIAX | DBLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.55% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.44% | 1.57% | +4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.47% | 2.09% | +5.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.21% | 4.52% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 4.64% | +3.77% |
EEIAX vs. DBLEX - Expense Ratio Comparison
EEIAX has a 1.19% expense ratio, which is higher than DBLEX's 0.90% expense ratio.
Dividends
EEIAX vs. DBLEX - Dividend Comparison
EEIAX's dividend yield for the trailing twelve months is around 9.94%, more than DBLEX's 5.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBLEX DoubleLine Emerging Markets Fixed Income Fund | 5.56% | 5.59% | 5.97% | 5.54% | 4.77% | 4.00% | 4.37% | 4.57% | 3.83% | 4.33% | 4.54% | 5.21% |
EEIAX Eaton Vance Emerging Markets Local Income Fund | 9.94% | 8.48% | 11.19% | 11.34% | 13.39% | 11.14% | 9.77% | 13.03% | 10.48% | 8.74% | 10.80% | 11.65% |
Frequently Asked Questions
EEIAX and DBLEX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEIAX has higher volatility (2.05%) compared to DBLEX (0.55%). In terms of maximum drawdown, EEIAX dropped -31.70% vs DBLEX's -25.43%.
DBLEX currently has the higher Sharpe Ratio (2.96 vs 2.26), 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.
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