EIDOX vs. DBELX

Last updated Jun 23, 2026

EIDOX (Eaton Vance Emerging Markets Debt Opportunities Fund Class I) and DBELX (DoubleLine Emerging Markets Local Currency Bond Fund) are both Emerging Markets Bonds funds. Over the past 5 years, EIDOX returned 8.28%/yr vs 3.40%/yr for DBELX. At a 0.50 correlation, their price movements are largely independent. EIDOX charges 0.79%/yr vs 0.90%/yr for DBELX.

Performance

EIDOX vs. DBELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) and DoubleLine Emerging Markets Local Currency Bond Fund (DBELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIDOX achieves a 7.62% return, which is significantly higher than DBELX's 2.18% return.

EIDOX

• 1D: 0.00%
• 1M: 1.48%
• YTD: 7.62%
• 6M: 8.60%
• 1Y: 19.26%
• 3Y*: 14.70%
• 5Y*: 8.28%
• 10Y*: 7.94%

DBELX

• 1D: -0.61%
• 1M: 0.94%
• YTD: 2.18%
• 6M: 3.12%
• 1Y: 11.90%
• 3Y*: 7.29%
• 5Y*: 3.40%
• 10Y*: —

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

EIDOX vs. DBELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EIDOX Eaton Vance Emerging Markets Debt Opportunities Fund Class I	7.62%	15.59%	14.78%	11.40%	-6.25%	1.52%	7.39%	8.98%
DBELX DoubleLine Emerging Markets Local Currency Bond Fund	2.18%	20.86%	-4.37%	12.50%	-6.99%	-9.37%	2.61%	0.89%

Correlation

The correlation between EIDOX and DBELX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019	0.50

The correlation between EIDOX and DBELX shifts across timeframes, from 0.47 (3 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EIDOX vs. DBELX — Risk / Return Rank

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

EIDOX

EIDOX Risk / Return Rank: 98
EIDOX Sharpe Ratio Rank: 100
EIDOX Sortino Ratio Rank: 99
EIDOX Omega Ratio Rank: 99
EIDOX Calmar Ratio Rank: 95
EIDOX Martin Ratio Rank: 96

DBELX

DBELX Risk / Return Rank: 32
DBELX Sharpe Ratio Rank: 35
DBELX Sortino Ratio Rank: 33
DBELX Omega Ratio Rank: 39
DBELX Calmar Ratio Rank: 24
DBELX Martin Ratio Rank: 27

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.

EIDOX vs. DBELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) and DoubleLine Emerging Markets Local Currency Bond Fund (DBELX). 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.

	EIDOX	DBELX	Difference
Sharpe ratio: Return per unit of total volatility	5.64	1.58	+4.06
Sortino ratio: Return per unit of downside risk	8.75	2.23	+6.52
Omega ratio: Gain probability vs. loss probability	2.53	1.31	+1.22
Calmar ratio: Return relative to maximum drawdown	5.43	1.72	+3.71
Martin ratio: Return relative to average drawdown	22.01	6.04	+15.97

EIDOX vs. DBELX - Sharpe Ratio Comparison

The current EIDOX Sharpe Ratio is 5.64, which is higher than the DBELX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of EIDOX and DBELX, 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

EIDOX vs. DBELX - Drawdown Comparison

The maximum EIDOX drawdown since its inception was -19.06%, smaller than the maximum DBELX drawdown of -21.95%. Use the drawdown chart below to compare losses from any high point for EIDOX and DBELX.

Drawdown Indicators

	EIDOX	DBELX	Difference
Max Drawdown Largest peak-to-trough decline	-19.06%	-21.95%	+2.89%
Max Drawdown (1Y) Largest decline over 1 year	-3.56%	-6.89%	+3.33%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-8.54%	+4.57%
Max Drawdown (5Y) Largest decline over 5 years	-17.42%	-18.21%	+0.79%
Max Drawdown (10Y) Largest decline over 10 years	-19.06%	—	—
Current Drawdown Current decline from peak	-0.23%	-2.00%	+1.77%
Average Drawdown Average peak-to-trough decline	-2.46%	-7.17%	+4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	1.95%	-1.07%

Volatility

EIDOX vs. DBELX - Volatility Comparison

The current volatility for Eaton Vance Emerging Markets Debt Opportunities Fund Class I (EIDOX) is 0.80%, while DoubleLine Emerging Markets Local Currency Bond Fund (DBELX) has a volatility of 2.49%. This indicates that EIDOX experiences smaller price fluctuations and is considered to be less risky than DBELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIDOX	DBELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	2.49%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	6.65%	-3.64%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	7.50%	-4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	7.16%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	7.47%	-2.73%

EIDOX vs. DBELX - Expense Ratio Comparison

EIDOX has a 0.79% expense ratio, which is lower than DBELX's 0.90% expense ratio.

Dividends

EIDOX vs. DBELX - Dividend Comparison

EIDOX's dividend yield for the trailing twelve months is around 10.63%, more than DBELX's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DBELX DoubleLine Emerging Markets Local Currency Bond Fund	4.93%	4.41%	3.80%	2.03%	2.01%	1.98%	1.17%	1.06%	0.00%	0.00%	0.00%
EIDOX Eaton Vance Emerging Markets Debt Opportunities Fund Class I	10.63%	9.41%	8.52%	8.97%	9.13%	7.82%	7.66%	7.81%	8.10%	7.85%	4.10%

Frequently Asked Questions

Can I hold both EIDOX and DBELX in my portfolio?

EIDOX and DBELX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIDOX or DBELX?

DBELX has higher volatility (2.49%) compared to EIDOX (0.80%). In terms of maximum drawdown, EIDOX dropped -19.06% vs DBELX's -21.95%.

Which has better risk-adjusted returns?

EIDOX currently has the higher Sharpe Ratio (5.64 vs 1.58), 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.