ICLAX vs. EMTIX

Last updated Jun 3, 2026

ICLAX (Transamerica Asset Allocation Conservative Portfolio) and EMTIX (Transamerica Emerging Markets Debt Fund) are both mutual funds - ICLAX is a Diversified Portfolio fund managed by Transamerica, while EMTIX is a Emerging Markets Bonds fund managed by Transamerica. Over the past 10 years, ICLAX returned 5.46%/yr vs 4.68%/yr for EMTIX. A 0.58 correlation means they provide meaningful diversification when combined. ICLAX charges 0.47%/yr vs 0.85%/yr for EMTIX.

Performance

ICLAX vs. EMTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Asset Allocation Conservative Portfolio (ICLAX) 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, ICLAX achieves a 3.88% return, which is significantly lower than EMTIX's 4.58% return. Over the past 10 years, ICLAX has outperformed EMTIX with an annualized return of 5.46%, while EMTIX has yielded a comparatively lower 4.68% annualized return.

ICLAX

• 1D: 0.00%
• 1M: 1.81%
• YTD: 3.88%
• 6M: 4.45%
• 1Y: 12.82%
• 3Y*: 9.75%
• 5Y*: 3.59%
• 10Y*: 5.46%

EMTIX

• 1D: 0.20%
• 1M: 1.42%
• YTD: 4.58%
• 6M: 5.99%
• 1Y: 15.52%
• 3Y*: 10.86%
• 5Y*: 3.59%
• 10Y*: 4.68%

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

ICLAX vs. EMTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICLAX Transamerica Asset Allocation Conservative Portfolio	3.88%	12.18%	7.30%	10.23%	-15.19%	5.43%	13.16%	12.33%	-4.36%	11.12%
EMTIX Transamerica Emerging Markets Debt Fund	4.58%	14.58%	4.69%	13.05%	-13.33%	-4.00%	7.14%	13.48%	-6.71%	12.68%

Correlation

The correlation between ICLAX and EMTIX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 6, 2011	0.58

The correlation between ICLAX and EMTIX has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

Return for Risk

ICLAX vs. EMTIX — Risk / Return Rank

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

ICLAX

ICLAX Risk / Return Rank: 49
ICLAX Sharpe Ratio Rank: 50
ICLAX Sortino Ratio Rank: 51
ICLAX Omega Ratio Rank: 52
ICLAX Calmar Ratio Rank: 40
ICLAX Martin Ratio Rank: 53

EMTIX

EMTIX Risk / Return Rank: 86
EMTIX Sharpe Ratio Rank: 94
EMTIX Sortino Ratio Rank: 95
EMTIX Omega Ratio Rank: 93
EMTIX Calmar Ratio Rank: 72
EMTIX Martin Ratio Rank: 75

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.

ICLAX vs. EMTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Asset Allocation Conservative Portfolio (ICLAX) 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.

	ICLAX	EMTIX	Difference
Sharpe ratio Return per unit of total volatility	2.08	3.25	-1.17
Sortino ratio Return per unit of downside risk	3.00	5.10	-2.09
Omega ratio Gain probability vs. loss probability	1.40	1.73	-0.33
Calmar ratio Return relative to maximum drawdown	2.43	3.31	-0.88
Martin ratio Return relative to average drawdown	10.76	14.20	-3.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICLAX vs. EMTIX - Sharpe Ratio Comparison

The current ICLAX Sharpe Ratio is 2.08, which is lower than the EMTIX Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of ICLAX 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.

Sharpe Ratios by Period

	ICLAX	EMTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	3.25	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.63	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.72	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.77	-0.04

Drawdowns

ICLAX vs. EMTIX - Drawdown Comparison

The maximum ICLAX drawdown since its inception was -30.99%, which is greater than EMTIX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for ICLAX and EMTIX.

Drawdown Indicators

	ICLAX	EMTIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.99%	-25.28%	-5.71%
Max Drawdown (1Y) Largest decline over 1 year	-5.28%	-4.69%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-7.10%	-6.44%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-20.78%	-25.28%	+4.50%
Max Drawdown (10Y) Largest decline over 10 years	-20.78%	-25.28%	+4.50%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.79%	-4.90%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.09%	+0.10%

Volatility

ICLAX vs. EMTIX - Volatility Comparison

Transamerica Asset Allocation Conservative Portfolio (ICLAX) has a higher volatility of 2.09% compared to Transamerica Emerging Markets Debt Fund (EMTIX) at 1.68%. This indicates that ICLAX'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

	ICLAX	EMTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	1.68%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	5.06%	4.23%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	6.22%	4.85%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	5.77%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.21%	6.56%	+0.65%

ICLAX vs. EMTIX - Expense Ratio Comparison

ICLAX has a 0.47% expense ratio, which is lower than EMTIX's 0.85% expense ratio.

Dividends

ICLAX vs. EMTIX - Dividend Comparison

ICLAX's dividend yield for the trailing twelve months is around 3.04%, less than EMTIX's 5.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMTIX Transamerica Emerging Markets Debt Fund	5.44%	5.77%	6.98%	5.11%	4.16%	4.03%	2.02%	4.80%	3.27%	5.10%	3.48%	4.30%
ICLAX Transamerica Asset Allocation Conservative Portfolio	3.04%	3.27%	2.80%	2.50%	1.79%	7.84%	4.16%	4.06%	7.97%	7.69%	4.61%	5.90%

Frequently Asked Questions

Can I hold both ICLAX and EMTIX in my portfolio?

ICLAX and EMTIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICLAX or EMTIX?

ICLAX has higher volatility (2.09%) compared to EMTIX (1.68%). In terms of maximum drawdown, ICLAX dropped -30.99% vs EMTIX's -25.28%.

Which has better risk-adjusted returns?

EMTIX currently has the higher Sharpe Ratio (3.25 vs 2.08), 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.