EMCIX vs. IGIEX

Last updated Jun 23, 2026

EMCIX (Ashmore Emerging Markets Corporate Income Fund) and IGIEX (Ashmore Emerging Markets Investment Grade Income Fund) are both Emerging Markets Bonds funds from Ashmore. Over the past 5 years, EMCIX returned -1.57%/yr vs 3.25%/yr for IGIEX. A 0.68 correlation means they provide meaningful diversification when combined. EMCIX charges 1.01%/yr vs 0.72%/yr for IGIEX.

Performance

EMCIX vs. IGIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashmore Emerging Markets Corporate Income Fund (EMCIX) and Ashmore Emerging Markets Investment Grade Income Fund (IGIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMCIX achieves a 3.77% return, which is significantly lower than IGIEX's 4.63% return.

EMCIX

• 1D: 0.34%
• 1M: 0.70%
• YTD: 3.77%
• 6M: 3.77%
• 1Y: 8.82%
• 3Y*: 8.88%
• 5Y*: -1.57%
• 10Y*: 2.65%

IGIEX

• 1D: 0.35%
• 1M: 1.68%
• YTD: 4.63%
• 6M: 4.63%
• 1Y: 17.17%
• 3Y*: 11.39%
• 5Y*: 3.25%
• 10Y*: —

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

EMCIX vs. IGIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMCIX Ashmore Emerging Markets Corporate Income Fund	3.77%	8.81%	8.28%	6.01%	-22.35%	-6.47%	8.48%
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	4.63%	18.29%	6.74%	7.76%	-16.44%	-2.75%	6.18%

Correlation

The correlation between EMCIX and IGIEX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Oct 5, 2020	0.68

The correlation between EMCIX and IGIEX has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

Return for Risk

EMCIX vs. IGIEX — Risk / Return Rank

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

EMCIX

EMCIX Risk / Return Rank: 68
EMCIX Sharpe Ratio Rank: 42
EMCIX Sortino Ratio Rank: 67
EMCIX Omega Ratio Rank: 89
EMCIX Calmar Ratio Rank: 73
EMCIX Martin Ratio Rank: 71

IGIEX

IGIEX Risk / Return Rank: 96
IGIEX Sharpe Ratio Rank: 98
IGIEX Sortino Ratio Rank: 98
IGIEX Omega Ratio Rank: 95
IGIEX Calmar Ratio Rank: 93
IGIEX Martin Ratio Rank: 95

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.

EMCIX vs. IGIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashmore Emerging Markets Corporate Income Fund (EMCIX) and Ashmore Emerging Markets Investment Grade Income Fund (IGIEX). 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.

	EMCIX	IGIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	3.57	-1.82
Sortino ratio: Return per unit of downside risk	3.11	5.92	-2.81
Omega ratio: Gain probability vs. loss probability	1.61	1.75	-0.15
Calmar ratio: Return relative to maximum drawdown	3.13	4.89	-1.76
Martin ratio: Return relative to average drawdown	12.75	19.79	-7.04

EMCIX vs. IGIEX - Sharpe Ratio Comparison

The current EMCIX Sharpe Ratio is 1.76, which is lower than the IGIEX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of EMCIX and IGIEX, 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

EMCIX vs. IGIEX - Drawdown Comparison

The maximum EMCIX drawdown since its inception was -36.20%, which is greater than IGIEX's maximum drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for EMCIX and IGIEX.

Drawdown Indicators

	EMCIX	IGIEX	Difference
Max Drawdown Largest peak-to-trough decline	-36.20%	-25.61%	-10.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-3.60%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-4.02%	-8.89%	+4.87%
Max Drawdown (5Y) Largest decline over 5 years	-36.13%	-25.61%	-10.52%
Max Drawdown (10Y) Largest decline over 10 years	-36.20%	—	—
Current Drawdown Current decline from peak	-7.73%	0.00%	-7.73%
Average Drawdown Average peak-to-trough decline	-13.56%	-8.53%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.89%	-0.13%

Volatility

EMCIX vs. IGIEX - Volatility Comparison

The current volatility for Ashmore Emerging Markets Corporate Income Fund (EMCIX) is 0.93%, while Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) has a volatility of 1.22%. This indicates that EMCIX experiences smaller price fluctuations and is considered to be less risky than IGIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMCIX	IGIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	1.22%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	4.96%	3.86%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	5.53%	4.93%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.68%	5.62%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.06%	5.39%	+0.67%

EMCIX vs. IGIEX - Expense Ratio Comparison

EMCIX has a 1.01% expense ratio, which is higher than IGIEX's 0.72% expense ratio.

Dividends

EMCIX vs. IGIEX - Dividend Comparison

EMCIX's dividend yield for the trailing twelve months is around 9.32%, more than IGIEX's 5.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMCIX Ashmore Emerging Markets Corporate Income Fund	9.32%	7.69%	4.92%	5.23%	6.67%	4.28%	5.13%	6.62%	6.62%	4.89%
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	5.94%	7.40%	6.42%	4.00%	3.19%	2.31%	0.82%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMCIX and IGIEX in my portfolio?

EMCIX and IGIEX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMCIX or IGIEX?

IGIEX has higher volatility (1.22%) compared to EMCIX (0.93%). In terms of maximum drawdown, EMCIX dropped -36.20% vs IGIEX's -25.61%.

Which has better risk-adjusted returns?

IGIEX currently has the higher Sharpe Ratio (3.57 vs 1.76), 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.