EMD vs. IMCDX

Last updated Apr 1, 2026

Compare and contrast key facts about Western Asset Emerging Markets Debt Fund Inc (EMD) and Voya Emerging Markets Corporate Debt Fund (IMCDX).

EMD is managed by Franklin Templeton. It was launched on Jan 1, 2004. IMCDX is managed by Voya. It was launched on Aug 8, 2012.

Performance

EMD vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Asset Emerging Markets Debt Fund Inc (EMD) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

EMD vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMD Western Asset Emerging Markets Debt Fund Inc	-5.14%	23.41%	16.23%	12.23%	-20.78%	-0.32%	7.03%	26.62%	-13.70%	14.29%
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%

Returns By Period

EMD

• 1D: 2.08%
• 1M: -10.21%
• YTD: -5.14%
• 6M: 0.38%
• 1Y: 10.85%
• 3Y*: 16.45%
• 5Y*: 4.01%
• 10Y*: 5.88%

IMCDX

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

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

EMD vs. IMCDX - Expense Ratio Comparison

EMD has a 0.02% expense ratio, which is lower than IMCDX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IMCDX

Voya Emerging Markets Corporate Debt Fund

EMD

Western Asset Emerging Markets Debt Fund Inc

Return for Risk

EMD vs. IMCDX — Risk / Return Rank

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

EMD

EMD Risk / Return Rank: 30
EMD Sharpe Ratio Rank: 32
EMD Sortino Ratio Rank: 27
EMD Omega Ratio Rank: 27
EMD Calmar Ratio Rank: 31
EMD Martin Ratio Rank: 30

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.

EMD vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Asset Emerging Markets Debt Fund Inc (EMD) 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.

	EMD	IMCDX	Difference
Sharpe ratio Return per unit of total volatility	0.76	—	—
Sortino ratio Return per unit of downside risk	1.04	—	—
Omega ratio Gain probability vs. loss probability	1.15	—	—
Calmar ratio Return relative to maximum drawdown	0.88	—	—
Martin ratio Return relative to average drawdown	3.35	—	—
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

	EMD	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	—	—

Correlation

The correlation between EMD and IMCDX is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EMD vs. IMCDX - Dividend Comparison

EMD's dividend yield for the trailing twelve months is around 11.51%, while IMCDX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMD Western Asset Emerging Markets Debt Fund Inc	11.51%	10.44%	10.57%	9.97%	11.09%	8.44%	8.45%	8.41%	9.76%	7.78%	9.99%	9.54%
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%

Drawdowns

Drawdown Indicators

	EMD	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-48.26%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.43%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.44%	—	—
Current Drawdown Current decline from peak	-11.53%	—	—
Average Drawdown Average peak-to-trough decline	-8.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	—	—

Volatility

Volatility by Period

	EMD	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	—	—