EMDZX vs. VEGBX
EMDZX (PGIM Emerging Markets Debt Local Currency Fund) and VEGBX (Vanguard Emerging Markets Bond Fund Admiral Shares) are both Emerging Markets Bonds funds. Over the past 5 years, EMDZX returned 1.96%/yr vs 4.15%/yr for VEGBX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. EMDZX charges 0.73%/yr vs 0.35%/yr for VEGBX.
Performance
EMDZX vs. VEGBX - Performance Comparison
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Returns By Period
In the year-to-date period, EMDZX achieves a 1.26% return, which is significantly lower than VEGBX's 2.18% return.
EMDZX
- 1D
- 0.41%
- 1M
- -0.81%
- 6M
- -0.67%
- YTD
- 1.26%
- 1Y
- 8.35%
- 3Y*
- 5.67%
- 5Y*
- 1.96%
- 10Y*
- 2.53%
- ALL TIME*
- 1.00%
VEGBX
- 1D
- -0.16%
- 1M
- -1.12%
- 6M
- 1.65%
- YTD
- 2.18%
- 1Y
- 8.90%
- 3Y*
- 9.99%
- 5Y*
- 4.15%
- 10Y*
- —
- ALL TIME*
- 6.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
EMDZX vs. VEGBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMDZX PGIM Emerging Markets Debt Local Currency Fund | 1.26% | 19.52% | -3.79% | 11.51% | -10.60% | -9.69% | 5.01% | 15.09% | -8.29% | 13.32% |
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares | 2.18% | 14.46% | 7.60% | 13.81% | -13.02% | -1.44% | 15.18% | 17.87% | -0.66% | 11.65% |
Correlation
The correlation between EMDZX and VEGBX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.55 |
The correlation between EMDZX and VEGBX shifts across timeframes, from 0.55 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMDZX vs. VEGBX — Risk / Return Rank
EMDZX
VEGBX
EMDZX vs. VEGBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Emerging Markets Debt Local Currency Fund (EMDZX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX). 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 | VEGBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.42 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 2.46 | -1.36 |
| Martin ratioReturn relative to average drawdown | 3.51 | 10.42 | -6.91 |
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Drawdowns
EMDZX vs. VEGBX - Drawdown Comparison
The maximum EMDZX drawdown since its inception was -32.79%, which is greater than VEGBX's maximum drawdown of -24.27%. Use the drawdown chart below to compare losses from any high point for EMDZX and VEGBX.
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Drawdown Indicators
| EMDZX | VEGBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.79% | -24.27% | -8.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -3.79% | -4.75% |
Max Drawdown (3Y)Largest decline over 3 years | -8.54% | -4.96% | -3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -23.42% | -24.27% | +0.85% |
Max Drawdown (10Y)Largest decline over 10 years | -26.85% | — | — |
Current DrawdownCurrent decline from peak | -2.47% | -1.41% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -13.01% | -3.79% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.89% | +1.79% |
Volatility
EMDZX vs. VEGBX - Volatility Comparison
PGIM Emerging Markets Debt Local Currency Fund (EMDZX) has a higher volatility of 2.05% compared to Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX) at 0.98%. This indicates that EMDZX's price experiences larger fluctuations and is considered to be riskier than VEGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDZX | VEGBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 0.98% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.33% | 3.70% | +3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.17% | 4.36% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 6.37% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.87% | 6.33% | +2.54% |
EMDZX vs. VEGBX - Expense Ratio Comparison
EMDZX has a 0.73% expense ratio, which is higher than VEGBX's 0.35% expense ratio.
Dividends
EMDZX vs. VEGBX - Dividend Comparison
EMDZX's dividend yield for the trailing twelve months is around 5.99%, more than VEGBX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDZX PGIM Emerging Markets Debt Local Currency Fund | 5.99% | 5.93% | 5.58% | 5.11% | 4.11% | 4.55% | 4.64% | 5.46% | 6.31% | 6.00% | 6.19% | 6.92% |
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares | 5.63% | 6.34% | 7.02% | 7.20% | 5.61% | 5.14% | 4.62% | 6.42% | 5.00% | 0.39% | 0.00% | 0.00% |
Frequently Asked Questions
EMDZX and VEGBX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMDZX has higher volatility (2.05%) compared to VEGBX (0.98%). In terms of maximum drawdown, EMDZX dropped -32.79% vs VEGBX's -24.27%.
VEGBX currently has the higher Sharpe Ratio (2.14 vs 1.16), 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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