EMDZX vs. GMCDX
EMDZX (PGIM Emerging Markets Debt Local Currency Fund) and GMCDX (GMO Emerging Country Debt Fund) are both Emerging Markets Bonds funds. Over the past 10 years, EMDZX returned 2.82%/yr vs 7.87%/yr for GMCDX. A 0.55 correlation means they provide meaningful diversification when combined. EMDZX charges 0.73%/yr vs 0.53%/yr for GMCDX.
Performance
EMDZX vs. GMCDX - Performance Comparison
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Returns By Period
In the year-to-date period, EMDZX achieves a 1.09% return, which is significantly lower than GMCDX's 9.50% return. Over the past 10 years, EMDZX has underperformed GMCDX with an annualized return of 2.82%, while GMCDX has yielded a comparatively higher 7.87% annualized return.
EMDZX
- 1D
- -0.60%
- 1M
- 2.03%
- YTD
- 1.09%
- 6M
- 2.26%
- 1Y
- 10.23%
- 3Y*
- 6.59%
- 5Y*
- 1.98%
- 10Y*
- 2.82%
GMCDX
- 1D
- 0.08%
- 1M
- 2.32%
- YTD
- 9.50%
- 6M
- 9.69%
- 1Y
- 26.42%
- 3Y*
- 19.74%
- 5Y*
- 9.64%
- 10Y*
- 7.87%
EMDZX vs. GMCDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMDZX PGIM Emerging Markets Debt Local Currency Fund | 1.09% | 19.52% | -3.79% | 11.51% | -10.60% | -9.69% | 5.01% | 15.09% | -8.29% | 16.28% |
GMCDX GMO Emerging Country Debt Fund | 9.50% | 22.34% | 13.39% | 17.63% | -16.30% | 6.56% | 7.25% | 14.28% | -5.89% | 12.49% |
Correlation
The correlation between EMDZX and GMCDX is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011 | 0.55 |
The correlation between EMDZX and GMCDX shifts across timeframes, from 0.52 (3 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMDZX vs. GMCDX — Risk / Return Rank
EMDZX
GMCDX
EMDZX vs. GMCDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Emerging Markets Debt Local Currency Fund (EMDZX) and GMO Emerging Country Debt Fund (GMCDX). 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.
| EMDZX | GMCDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.74 | ||
| Sortino ratioReturn per unit of downside risk | -7.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 2.23 | -0.98 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 6.86 | -5.69 |
| Martin ratioReturn relative to average drawdown | 3.90 | 29.70 | -25.80 |
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Drawdowns
EMDZX vs. GMCDX - Drawdown Comparison
The maximum EMDZX drawdown since its inception was -32.79%, smaller than the maximum GMCDX drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for EMDZX and GMCDX.
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Drawdown Indicators
| EMDZX | GMCDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.79% | -68.24% | +35.45% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -3.85% | -4.69% |
Max Drawdown (3Y)Largest decline over 3 years | -8.54% | -9.00% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -23.42% | -26.02% | +2.60% |
Max Drawdown (10Y)Largest decline over 10 years | -26.85% | -26.02% | -0.83% |
Current DrawdownCurrent decline from peak | -2.62% | -0.20% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -13.09% | -17.63% | +4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 0.89% | +1.68% |
Volatility
EMDZX vs. GMCDX - Volatility Comparison
PGIM Emerging Markets Debt Local Currency Fund (EMDZX) has a higher volatility of 2.37% compared to GMO Emerging Country Debt Fund (GMCDX) at 1.17%. This indicates that EMDZX's price experiences larger fluctuations and is considered to be riskier than GMCDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDZX | GMCDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.17% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.18% | 4.41% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.15% | 5.31% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.92% | 11.21% | -3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.98% | 9.32% | -0.34% |
EMDZX vs. GMCDX - Expense Ratio Comparison
EMDZX has a 0.73% expense ratio, which is higher than GMCDX's 0.53% expense ratio.
Dividends
EMDZX vs. GMCDX - Dividend Comparison
EMDZX's dividend yield for the trailing twelve months is around 6.42%, more than GMCDX's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDZX PGIM Emerging Markets Debt Local Currency Fund | 6.42% | 5.93% | 5.58% | 5.11% | 4.11% | 4.55% | 4.64% | 5.46% | 6.31% | 6.00% | 6.19% | 6.92% |
GMCDX GMO Emerging Country Debt Fund | 5.73% | 6.27% | 6.88% | 10.26% | 13.73% | 17.75% | 9.66% | 6.60% | 7.76% | 7.06% | 6.00% | 2.50% |
Frequently Asked Questions
EMDZX and GMCDX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMDZX has higher volatility (2.37%) compared to GMCDX (1.17%). In terms of maximum drawdown, EMDZX dropped -32.79% vs GMCDX's -68.24%.
GMCDX currently has the higher Sharpe Ratio (4.97 vs 1.23), 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.
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