EICOX vs. GTDDX

Last updated Jun 25, 2026

EICOX (Eaton Vance Emerging and Frontier Countries Equity Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Diversified funds. Over the past 10 years, EICOX returned 13.47%/yr vs 9.92%/yr for GTDDX. Their correlation of 0.81 suggests significant overlap in exposure. EICOX charges 1.31%/yr vs 1.39%/yr for GTDDX.

Performance

EICOX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Emerging and Frontier Countries Equity Fund (EICOX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EICOX achieves a 24.45% return, which is significantly lower than GTDDX's 40.89% return. Over the past 10 years, EICOX has outperformed GTDDX with an annualized return of 13.47%, while GTDDX has yielded a comparatively lower 9.92% annualized return.

EICOX

• 1D: -4.64%
• 1M: 4.30%
• YTD: 24.45%
• 6M: 25.42%
• 1Y: 43.55%
• 3Y*: 26.67%
• 5Y*: 15.45%
• 10Y*: 13.47%

GTDDX

• 1D: -5.12%
• 1M: 5.14%
• YTD: 40.89%
• 6M: 43.06%
• 1Y: 64.78%
• 3Y*: 21.88%
• 5Y*: 7.73%
• 10Y*: 9.92%

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

EICOX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EICOX Eaton Vance Emerging and Frontier Countries Equity Fund	24.45%	33.22%	11.99%	25.78%	-14.59%	13.43%	13.46%	12.59%	-14.57%	31.41%
GTDDX Invesco EQV Emerging Markets All Cap Fd	40.89%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-18.77%	30.34%

Correlation

The correlation between EICOX and GTDDX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.81

The correlation between EICOX and GTDDX has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

Return for Risk

EICOX vs. GTDDX — Risk / Return Rank

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

EICOX

EICOX Risk / Return Rank: 81
EICOX Sharpe Ratio Rank: 86
EICOX Sortino Ratio Rank: 73
EICOX Omega Ratio Rank: 85
EICOX Calmar Ratio Rank: 83
EICOX Martin Ratio Rank: 78

GTDDX

GTDDX Risk / Return Rank: 92
GTDDX Sharpe Ratio Rank: 97
GTDDX Sortino Ratio Rank: 87
GTDDX Omega Ratio Rank: 89
GTDDX Calmar Ratio Rank: 94
GTDDX Martin Ratio Rank: 94

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.

EICOX vs. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging and Frontier Countries Equity Fund (EICOX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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.

	EICOX	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	3.16	-0.61
Sortino ratio: Return per unit of downside risk	3.19	3.76	-0.57
Omega ratio: Gain probability vs. loss probability	1.52	1.58	-0.06
Calmar ratio: Return relative to maximum drawdown	3.56	4.82	-1.26
Martin ratio: Return relative to average drawdown	13.24	18.10	-4.87

EICOX vs. GTDDX - Sharpe Ratio Comparison

The current EICOX Sharpe Ratio is 2.54, which is comparable to the GTDDX Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of EICOX and GTDDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EICOX vs. GTDDX - Drawdown Comparison

The maximum EICOX drawdown since its inception was -38.75%, smaller than the maximum GTDDX drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for EICOX and GTDDX.

Drawdown Indicators

	EICOX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-38.75%	-62.89%	+24.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.40%	-14.49%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.11%	-16.08%	+1.97%
Max Drawdown (5Y) Largest decline over 5 years	-22.46%	-36.93%	+14.47%
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	-39.58%	+0.83%
Current Drawdown Current decline from peak	-4.64%	-6.05%	+1.41%
Average Drawdown Average peak-to-trough decline	-8.66%	-18.72%	+10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.84%	-0.24%

Volatility

EICOX vs. GTDDX - Volatility Comparison

The current volatility for Eaton Vance Emerging and Frontier Countries Equity Fund (EICOX) is 10.85%, while Invesco EQV Emerging Markets All Cap Fd (GTDDX) has a volatility of 12.73%. This indicates that EICOX experiences smaller price fluctuations and is considered to be less risky than GTDDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EICOX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.85%	12.73%	-1.88%
Volatility (6M) Calculated over the trailing 6-month period	17.41%	20.03%	-2.62%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	22.11%	-3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	17.09%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.89%	17.19%	-3.30%

EICOX vs. GTDDX - Expense Ratio Comparison

EICOX has a 1.31% expense ratio, which is lower than GTDDX's 1.39% expense ratio.

Dividends

EICOX vs. GTDDX - Dividend Comparison

EICOX's dividend yield for the trailing twelve months is around 2.96%, less than GTDDX's 14.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EICOX Eaton Vance Emerging and Frontier Countries Equity Fund	2.96%	3.68%	2.02%	1.95%	5.72%	2.71%	0.10%	2.00%	2.95%	0.00%	0.59%	2.35%
GTDDX Invesco EQV Emerging Markets All Cap Fd	14.99%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%

Frequently Asked Questions

Can I hold both EICOX and GTDDX in my portfolio?

EICOX and GTDDX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EICOX or GTDDX?

GTDDX has higher volatility (12.73%) compared to EICOX (10.85%). In terms of maximum drawdown, EICOX dropped -38.75% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

GTDDX currently has the higher Sharpe Ratio (3.16 vs 2.54), 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.