EEIIX vs. IMCDX

Last updated Jun 6, 2026

EEIIX (Eaton Vance Emerging Markets Local Income Fund Class I) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both Emerging Markets Bonds funds. At a 0.42 correlation, their price movements are largely independent. EEIIX charges 1.01%/yr vs 0.10%/yr for IMCDX.

Performance

EEIIX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EEIIX

• 1D: 0.28%
• 1M: -0.35%
• YTD: 3.85%
• 6M: 5.75%
• 1Y: 16.47%
• 3Y*: 11.01%
• 5Y*: 4.32%
• 10Y*: 5.35%

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EEIIX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEIIX Eaton Vance Emerging Markets Local Income Fund Class I	3.85%	26.00%	-0.97%	13.95%	-11.53%	-7.57%	5.00%	23.01%	-8.11%	16.45%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%

Correlation

The correlation between EEIIX and IMCDX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Aug 1, 2012	0.42

The correlation between EEIIX and IMCDX shifts across timeframes, from 0.30 (3 years) to 0.42 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EEIIX vs. IMCDX — Risk / Return Rank

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

EEIIX

EEIIX Risk / Return Rank: 59
EEIIX Sharpe Ratio Rank: 69
EEIIX Sortino Ratio Rank: 70
EEIIX Omega Ratio Rank: 76
EEIIX Calmar Ratio Rank: 41
EEIIX Martin Ratio Rank: 41

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.

EEIIX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	EEIIX	IMCDX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	—	—
Sortino ratio: Return per unit of downside risk	3.39	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	2.35	—	—
Martin ratio: Return relative to average drawdown	8.56	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EEIIX	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	—	—

Drawdowns

Drawdown Indicators

	EEIIX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.11%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.20%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.05%	—	—
Current Drawdown Current decline from peak	-1.88%	—	—
Average Drawdown Average peak-to-trough decline	-8.70%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	—	—

Volatility

Volatility by Period

	EEIIX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.16%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.06%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.37%	—	—

EEIIX vs. IMCDX - Expense Ratio Comparison

EEIIX has a 1.01% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

Dividends

EEIIX vs. IMCDX - Dividend Comparison

EEIIX's dividend yield for the trailing twelve months is around 10.26%, while IMCDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEIIX Eaton Vance Emerging Markets Local Income Fund Class I	10.26%	10.36%	11.46%	11.62%	13.71%	11.49%	10.06%	13.31%	10.80%	9.04%	11.27%	12.21%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Frequently Asked Questions

Can I hold both EEIIX and IMCDX in my portfolio?

EEIIX and IMCDX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.