GMCDX vs. PREMX
GMCDX (GMO Emerging Country Debt Fund) and PREMX (T. Rowe Price Emerging Markets Bond Fund) are both Emerging Markets Bonds funds. Over the past 10 years, GMCDX returned 7.87%/yr vs 4.50%/yr for PREMX. Their correlation of 0.82 suggests significant overlap in exposure. GMCDX charges 0.53%/yr vs 0.99%/yr for PREMX.
Performance
GMCDX vs. PREMX - Performance Comparison
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Returns By Period
In the year-to-date period, GMCDX achieves a 9.50% return, which is significantly higher than PREMX's 3.63% return. Over the past 10 years, GMCDX has outperformed PREMX with an annualized return of 7.87%, while PREMX has yielded a comparatively lower 4.50% annualized return.
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%
PREMX
- 1D
- 0.10%
- 1M
- 2.22%
- YTD
- 3.63%
- 6M
- 4.18%
- 1Y
- 14.83%
- 3Y*
- 14.41%
- 5Y*
- 4.64%
- 10Y*
- 4.50%
GMCDX vs. PREMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PREMX T. Rowe Price Emerging Markets Bond Fund | 3.63% | 15.93% | 10.84% | 18.52% | -18.37% | -2.44% | 4.63% | 11.34% | -7.22% | 9.02% |
Correlation
The correlation between GMCDX and PREMX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995 | 0.82 |
The correlation between GMCDX and PREMX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
GMCDX vs. PREMX — Risk / Return Rank
GMCDX
PREMX
GMCDX vs. PREMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Emerging Country Debt Fund (GMCDX) and T. Rowe Price Emerging Markets Bond Fund (PREMX). 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.
| GMCDX | PREMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +3.54 | ||
| Omega ratioGain probability vs. loss probability | 2.23 | 1.68 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 6.86 | 3.57 | +3.29 |
| Martin ratioReturn relative to average drawdown | 29.70 | 15.38 | +14.32 |
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Drawdowns
GMCDX vs. PREMX - Drawdown Comparison
The maximum GMCDX drawdown since its inception was -68.24%, which is greater than PREMX's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for GMCDX and PREMX.
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Drawdown Indicators
| GMCDX | PREMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.24% | -43.95% | -24.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -4.10% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -9.00% | -5.88% | -3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -26.02% | -31.69% | +5.67% |
Max Drawdown (10Y)Largest decline over 10 years | -26.02% | -31.69% | +5.67% |
Current DrawdownCurrent decline from peak | -0.20% | -0.20% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -17.63% | -5.16% | -12.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.95% | -0.06% |
Volatility
GMCDX vs. PREMX - Volatility Comparison
The current volatility for GMO Emerging Country Debt Fund (GMCDX) is 1.17%, while T. Rowe Price Emerging Markets Bond Fund (PREMX) has a volatility of 1.25%. This indicates that GMCDX experiences smaller price fluctuations and is considered to be less risky than PREMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMCDX | PREMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.25% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 3.53% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 4.46% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.21% | 6.66% | +4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.32% | 7.14% | +2.18% |
GMCDX vs. PREMX - Expense Ratio Comparison
GMCDX has a 0.53% expense ratio, which is lower than PREMX's 0.99% expense ratio.
Dividends
GMCDX vs. PREMX - Dividend Comparison
GMCDX's dividend yield for the trailing twelve months is around 5.73%, more than PREMX's 5.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PREMX T. Rowe Price Emerging Markets Bond Fund | 5.62% | 7.16% | 9.95% | 9.36% | 3.96% | 4.63% | 4.55% | 5.24% | 5.29% | 7.01% | 6.45% | 6.59% |
Frequently Asked Questions
GMCDX and PREMX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PREMX has higher volatility (1.25%) compared to GMCDX (1.17%). In terms of maximum drawdown, GMCDX dropped -68.24% vs PREMX's -43.95%.
GMCDX currently has the higher Sharpe Ratio (4.97 vs 3.28), 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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