GMOQX vs. IMCDX

Last updated Jun 4, 2026

GMOQX (GMO Emerging Country Debt Fund Class VI) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both Emerging Markets Bonds funds. A 0.57 correlation means they provide meaningful diversification when combined. GMOQX charges 0.51%/yr vs 0.10%/yr for IMCDX.

Performance

GMOQX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Emerging Country Debt Fund Class VI (GMOQX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GMOQX

• 1D: 0.33%
• 1M: 1.67%
• YTD: 8.73%
• 6M: 9.27%
• 1Y: 26.78%
• 3Y*: 20.13%
• 5Y*: —
• 10Y*: —

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMOQX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GMOQX GMO Emerging Country Debt Fund Class VI	8.73%	22.45%	12.60%	17.76%	-16.26%	-2.20%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	-0.80%

Correlation

The correlation between GMOQX and IMCDX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Aug 17, 2021	0.57

The correlation between GMOQX and IMCDX shifts across timeframes, from 0.42 (3 years) to 0.57 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GMOQX vs. IMCDX — Risk / Return Rank

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

GMOQX

GMOQX Risk / Return Rank: 98
GMOQX Sharpe Ratio Rank: 99
GMOQX Sortino Ratio Rank: 99
GMOQX Omega Ratio Rank: 98
GMOQX Calmar Ratio Rank: 97
GMOQX Martin Ratio Rank: 98

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.

GMOQX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Emerging Country Debt Fund Class VI (GMOQX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	GMOQX	IMCDX	Difference
Sharpe ratio: Return per unit of total volatility	5.17	—	—
Sortino ratio: Return per unit of downside risk	9.24	—	—
Omega ratio: Gain probability vs. loss probability	2.28	—	—
Calmar ratio: Return relative to maximum drawdown	7.21	—	—
Martin ratio: Return relative to average drawdown	31.30	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GMOQX	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	—	—

Drawdowns

Drawdown Indicators

	GMOQX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.02%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-9.71%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	GMOQX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.88%	—	—

GMOQX vs. IMCDX - Expense Ratio Comparison

GMOQX has a 0.51% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

Dividends

GMOQX vs. IMCDX - Dividend Comparison

GMOQX's dividend yield for the trailing twelve months is around 5.86%, while IMCDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOQX GMO Emerging Country Debt Fund Class VI	5.86%	6.37%	6.23%	10.36%	13.87%	7.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Frequently Asked Questions

Can I hold both GMOQX and IMCDX in my portfolio?

GMOQX and IMCDX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.