EMTIX vs. APFOX

Last updated Jun 4, 2026

EMTIX (Transamerica Emerging Markets Debt Fund) and APFOX (Artisan Emerging Markets Debt Opportunities Fund) are both Emerging Markets Bonds funds. Over the past 3 years, EMTIX returned 10.93%/yr vs 11.84%/yr for APFOX. A 0.61 correlation means they provide meaningful diversification when combined. EMTIX charges 0.85%/yr vs 1.25%/yr for APFOX.

Performance

EMTIX vs. APFOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Emerging Markets Debt Fund (EMTIX) and Artisan Emerging Markets Debt Opportunities Fund (APFOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EMTIX having a 4.79% return and APFOX slightly higher at 4.89%.

EMTIX

• 1D: 0.20%
• 1M: 1.93%
• YTD: 4.79%
• 6M: 5.77%
• 1Y: 15.63%
• 3Y*: 10.93%
• 5Y*: 3.68%
• 10Y*: 4.70%

APFOX

• 1D: 0.18%
• 1M: 1.43%
• YTD: 4.89%
• 6M: 6.02%
• 1Y: 15.55%
• 3Y*: 11.84%
• 5Y*: —
• 10Y*: —

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

EMTIX vs. APFOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EMTIX Transamerica Emerging Markets Debt Fund	4.79%	14.58%	4.69%	13.05%	-3.17%
APFOX Artisan Emerging Markets Debt Opportunities Fund	4.89%	13.45%	10.61%	11.44%	7.85%

Correlation

The correlation between EMTIX and APFOX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 29, 2022	0.61

The correlation between EMTIX and APFOX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

EMTIX vs. APFOX — Risk / Return Rank

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

EMTIX

EMTIX Risk / Return Rank: 87
EMTIX Sharpe Ratio Rank: 94
EMTIX Sortino Ratio Rank: 95
EMTIX Omega Ratio Rank: 94
EMTIX Calmar Ratio Rank: 74
EMTIX Martin Ratio Rank: 77

APFOX

APFOX Risk / Return Rank: 96
APFOX Sharpe Ratio Rank: 100
APFOX Sortino Ratio Rank: 99
APFOX Omega Ratio Rank: 98
APFOX Calmar Ratio Rank: 92
APFOX Martin Ratio Rank: 94

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.

EMTIX vs. APFOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Emerging Markets Debt Fund (EMTIX) and Artisan Emerging Markets Debt Opportunities Fund (APFOX). 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.

	EMTIX	APFOX	Difference
Sharpe ratio Return per unit of total volatility	3.27	5.65	-2.38
Sortino ratio Return per unit of downside risk	5.13	8.56	-3.43
Omega ratio Gain probability vs. loss probability	1.73	2.48	-0.75
Calmar ratio Return relative to maximum drawdown	3.37	4.96	-1.59
Martin ratio Return relative to average drawdown	14.44	20.80	-6.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMTIX vs. APFOX - Sharpe Ratio Comparison

The current EMTIX Sharpe Ratio is 3.27, which is lower than the APFOX Sharpe Ratio of 5.65. The chart below compares the historical Sharpe Ratios of EMTIX and APFOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMTIX	APFOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.27	5.65	-2.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	3.20	-2.43

Drawdowns

EMTIX vs. APFOX - Drawdown Comparison

The maximum EMTIX drawdown since its inception was -25.28%, which is greater than APFOX's maximum drawdown of -5.69%. Use the drawdown chart below to compare losses from any high point for EMTIX and APFOX.

Drawdown Indicators

	EMTIX	APFOX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-5.69%	-19.59%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	-3.21%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-6.44%	-5.69%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.28%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.89%	-0.71%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.76%	+0.33%

Volatility

EMTIX vs. APFOX - Volatility Comparison

Transamerica Emerging Markets Debt Fund (EMTIX) has a higher volatility of 1.68% compared to Artisan Emerging Markets Debt Opportunities Fund (APFOX) at 0.67%. This indicates that EMTIX's price experiences larger fluctuations and is considered to be riskier than APFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMTIX	APFOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	0.67%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	4.23%	2.46%	+1.77%
Volatility (1Y) Calculated over the trailing 1-year period	4.84%	2.82%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.77%	3.74%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.55%	3.74%	+2.81%

EMTIX vs. APFOX - Expense Ratio Comparison

EMTIX has a 0.85% expense ratio, which is lower than APFOX's 1.25% expense ratio.

Dividends

EMTIX vs. APFOX - Dividend Comparison

EMTIX's dividend yield for the trailing twelve months is around 5.43%, less than APFOX's 7.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APFOX Artisan Emerging Markets Debt Opportunities Fund	7.17%	5.71%	9.39%	9.03%	7.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMTIX Transamerica Emerging Markets Debt Fund	5.43%	5.77%	6.98%	5.11%	4.16%	4.03%	2.02%	4.80%	3.27%	5.10%	3.48%	4.30%

Frequently Asked Questions

Can I hold both EMTIX and APFOX in my portfolio?

EMTIX and APFOX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMTIX or APFOX?

EMTIX has higher volatility (1.68%) compared to APFOX (0.67%). In terms of maximum drawdown, EMTIX dropped -25.28% vs APFOX's -5.69%.

Which has better risk-adjusted returns?

APFOX currently has the higher Sharpe Ratio (5.65 vs 3.27), 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.