IALAX vs. EMTIX

Last updated Jun 24, 2026

IALAX (Transamerica Capital Growth Fund) and EMTIX (Transamerica Emerging Markets Debt Fund) are both mutual funds - IALAX is a Large Cap Growth Equities fund managed by Transamerica, while EMTIX is a Emerging Markets Bonds fund managed by Transamerica. Over the past 10 years, IALAX returned 14.47%/yr vs 4.64%/yr for EMTIX. At a 0.32 correlation, their price movements are largely independent. IALAX charges 1.01%/yr vs 0.85%/yr for EMTIX.

Performance

IALAX vs. EMTIX - Performance Comparison

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

Returns By Period

In the year-to-date period, IALAX achieves a -6.69% return, which is significantly lower than EMTIX's 5.20% return. Over the past 10 years, IALAX has outperformed EMTIX with an annualized return of 14.47%, while EMTIX has yielded a comparatively lower 4.64% annualized return.

IALAX

• 1D: -2.00%
• 1M: -2.26%
• YTD: -6.69%
• 6M: -10.66%
• 1Y: -2.35%
• 3Y*: 23.00%
• 5Y*: -2.92%
• 10Y*: 14.47%

EMTIX

• 1D: -0.10%
• 1M: 2.02%
• YTD: 5.20%
• 6M: 5.75%
• 1Y: 14.90%
• 3Y*: 10.21%
• 5Y*: 3.75%
• 10Y*: 4.64%

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

IALAX vs. EMTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IALAX Transamerica Capital Growth Fund	-6.69%	20.54%	43.92%	47.30%	-60.39%	0.10%	111.63%	21.63%	6.59%	43.81%
EMTIX Transamerica Emerging Markets Debt Fund	5.20%	14.58%	4.69%	13.05%	-13.33%	-4.00%	7.14%	13.48%	-6.71%	12.68%

Correlation

The correlation between IALAX and EMTIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 2, 2011	0.32

Return for Risk

IALAX vs. EMTIX — Risk / Return Rank

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

IALAX

IALAX Risk / Return Rank: 3
IALAX Sharpe Ratio Rank: 3
IALAX Sortino Ratio Rank: 3
IALAX Omega Ratio Rank: 3
IALAX Calmar Ratio Rank: 3
IALAX Martin Ratio Rank: 3

EMTIX

EMTIX Risk / Return Rank: 87
EMTIX Sharpe Ratio Rank: 95
EMTIX Sortino Ratio Rank: 95
EMTIX Omega Ratio Rank: 92
EMTIX Calmar Ratio Rank: 75
EMTIX Martin Ratio Rank: 79

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.

IALAX vs. EMTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Capital Growth Fund (IALAX) and Transamerica Emerging Markets Debt Fund (EMTIX). 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.

	IALAX	EMTIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	3.05	-3.06
Sortino ratio: Return per unit of downside risk	0.20	4.76	-4.56
Omega ratio: Gain probability vs. loss probability	1.02	1.65	-0.63
Calmar ratio: Return relative to maximum drawdown	-0.01	3.23	-3.24
Martin ratio: Return relative to average drawdown	-0.02	13.77	-13.78

IALAX vs. EMTIX - Sharpe Ratio Comparison

The current IALAX Sharpe Ratio is -0.01, which is lower than the EMTIX Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of IALAX and EMTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IALAX vs. EMTIX - Drawdown Comparison

The maximum IALAX drawdown since its inception was -69.30%, which is greater than EMTIX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for IALAX and EMTIX.

Drawdown Indicators

	IALAX	EMTIX	Difference
Max Drawdown Largest peak-to-trough decline	-69.30%	-25.28%	-44.02%
Max Drawdown (1Y) Largest decline over 1 year	-29.07%	-4.69%	-24.38%
Max Drawdown (3Y) Largest decline over 3 years	-32.33%	-6.44%	-25.89%
Max Drawdown (5Y) Largest decline over 5 years	-69.30%	-25.28%	-44.02%
Max Drawdown (10Y) Largest decline over 10 years	-69.30%	-25.28%	-44.02%
Current Drawdown Current decline from peak	-23.76%	-0.69%	-23.07%
Average Drawdown Average peak-to-trough decline	-14.85%	-4.88%	-9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.28%	1.10%	+13.18%

Volatility

IALAX vs. EMTIX - Volatility Comparison

Transamerica Capital Growth Fund (IALAX) has a higher volatility of 10.94% compared to Transamerica Emerging Markets Debt Fund (EMTIX) at 1.44%. This indicates that IALAX's price experiences larger fluctuations and is considered to be riskier than EMTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IALAX	EMTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.94%	1.44%	+9.50%
Volatility (6M) Calculated over the trailing 6-month period	23.71%	4.37%	+19.34%
Volatility (1Y) Calculated over the trailing 1-year period	30.05%	4.98%	+25.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.89%	5.79%	+36.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.84%	6.54%	+28.30%

IALAX vs. EMTIX - Expense Ratio Comparison

IALAX has a 1.01% expense ratio, which is higher than EMTIX's 0.85% expense ratio.

Dividends

IALAX vs. EMTIX - Dividend Comparison

IALAX has not paid dividends to shareholders, while EMTIX's dividend yield for the trailing twelve months is around 4.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMTIX Transamerica Emerging Markets Debt Fund	4.27%	5.77%	6.98%	5.11%	4.16%	4.03%	2.02%	4.80%	3.27%	5.10%	3.48%	4.30%
IALAX Transamerica Capital Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	20.49%	5.37%	10.49%	4.92%	23.22%	22.63%	3.34%

Frequently Asked Questions

Can I hold both IALAX and EMTIX in my portfolio?

IALAX and EMTIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IALAX or EMTIX?

IALAX has higher volatility (10.94%) compared to EMTIX (1.44%). In terms of maximum drawdown, IALAX dropped -69.30% vs EMTIX's -25.28%.

Which has better risk-adjusted returns?

EMTIX currently has the higher Sharpe Ratio (3.05 vs -0.01), 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.