EMDIX vs. PYCEX
Compare and contrast key facts about Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and Payden Emerging Markets Corporate Bond Fund (PYCEX).
EMDIX is a passively managed fund by Federated Hermes that tracks the performance of the J.P. Morgan Emerging Markets Bond Index Global Diversified. It was launched on Oct 2, 1996. PYCEX is managed by Paydenfunds. It was launched on Nov 10, 2013.
Performance
EMDIX vs. PYCEX - Performance Comparison
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EMDIX vs. PYCEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares | -2.36% | 17.32% | 6.31% | 14.65% | -16.00% | -3.01% | 5.92% | 13.28% | -5.04% | 15.06% |
PYCEX Payden Emerging Markets Corporate Bond Fund | -0.54% | 7.96% | 7.90% | 7.37% | -11.02% | 0.80% | 8.17% | 11.90% | -3.33% | 9.13% |
Returns By Period
In the year-to-date period, EMDIX achieves a -2.36% return, which is significantly lower than PYCEX's -0.54% return. Both investments have delivered pretty close results over the past 10 years, with EMDIX having a 4.27% annualized return and PYCEX not far behind at 4.20%.
EMDIX
- 1D
- 0.57%
- 1M
- -3.94%
- YTD
- -2.36%
- 6M
- 0.99%
- 1Y
- 11.72%
- 3Y*
- 11.09%
- 5Y*
- 3.38%
- 10Y*
- 4.27%
PYCEX
- 1D
- 0.23%
- 1M
- -1.75%
- YTD
- -0.54%
- 6M
- 0.64%
- 1Y
- 4.94%
- 3Y*
- 7.27%
- 5Y*
- 2.39%
- 10Y*
- 4.20%
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EMDIX vs. PYCEX - Expense Ratio Comparison
EMDIX has a 0.94% expense ratio, which is higher than PYCEX's 0.65% expense ratio.
Return for Risk
EMDIX vs. PYCEX — Risk / Return Rank
EMDIX
PYCEX
EMDIX vs. PYCEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) and Payden Emerging Markets Corporate Bond Fund (PYCEX). 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.
| EMDIX | PYCEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.13 | 1.96 | +0.17 |
Sortino ratioReturn per unit of downside risk | 2.70 | 2.54 | +0.16 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.49 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.71 | +0.22 |
Martin ratioReturn relative to average drawdown | 8.00 | 7.05 | +0.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMDIX | PYCEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 1.96 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.75 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 1.18 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.19 | -0.65 |
Correlation
The correlation between EMDIX and PYCEX is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
EMDIX vs. PYCEX - Dividend Comparison
EMDIX's dividend yield for the trailing twelve months is around 1.01%, less than PYCEX's 6.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDIX Federated Hermes Emerging Market Debt Fund Institutional Shares | 1.01% | 0.29% | 2.83% | 3.13% | 5.61% | 2.17% | 3.71% | 2.08% | 4.25% | 7.78% | 3.38% | 4.17% |
PYCEX Payden Emerging Markets Corporate Bond Fund | 6.43% | 6.50% | 6.21% | 5.59% | 4.92% | 5.23% | 4.00% | 4.81% | 5.13% | 4.84% | 4.18% | 4.51% |
Drawdowns
EMDIX vs. PYCEX - Drawdown Comparison
The maximum EMDIX drawdown since its inception was -27.01%, which is greater than PYCEX's maximum drawdown of -20.12%. Use the drawdown chart below to compare losses from any high point for EMDIX and PYCEX.
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Drawdown Indicators
| EMDIX | PYCEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.01% | -20.12% | -6.89% |
Max Drawdown (1Y)Largest decline over 1 year | -5.72% | -2.96% | -2.76% |
Max Drawdown (5Y)Largest decline over 5 years | -27.01% | -20.12% | -6.89% |
Max Drawdown (10Y)Largest decline over 10 years | -27.01% | -20.12% | -6.89% |
Current DrawdownCurrent decline from peak | -5.18% | -2.08% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -5.72% | -3.04% | -2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.72% | +0.66% |
Volatility
EMDIX vs. PYCEX - Volatility Comparison
Federated Hermes Emerging Market Debt Fund Institutional Shares (EMDIX) has a higher volatility of 2.79% compared to Payden Emerging Markets Corporate Bond Fund (PYCEX) at 0.84%. This indicates that EMDIX's price experiences larger fluctuations and is considered to be riskier than PYCEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDIX | PYCEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 0.84% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 1.42% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 2.59% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 3.21% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.61% | 3.57% | +3.04% |