IEMFX vs. BADEX
Compare and contrast key facts about T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX).
IEMFX is managed by T. Rowe Price. It was launched on Oct 30, 2002. BADEX is managed by BlackRock. It was launched on Dec 20, 2020.
Performance
IEMFX vs. BADEX - Performance Comparison
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IEMFX vs. BADEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IEMFX T. Rowe Price Institutional Emerging Markets Equity Fund | -0.52% | 32.91% | -1.60% | 2.26% | -23.34% | -10.61% | 2.40% |
BADEX BlackRock Defensive Advantage Emerging Markets Fund | -0.28% | 13.95% | 10.15% | 11.67% | -11.34% | 4.49% | 2.32% |
Returns By Period
In the year-to-date period, IEMFX achieves a -0.52% return, which is significantly lower than BADEX's -0.28% return.
IEMFX
- 1D
- -0.89%
- 1M
- -12.87%
- YTD
- -0.52%
- 6M
- 6.39%
- 1Y
- 28.52%
- 3Y*
- 8.02%
- 5Y*
- -2.06%
- 10Y*
- 5.71%
BADEX
- 1D
- -0.65%
- 1M
- -7.80%
- YTD
- -0.28%
- 6M
- 2.63%
- 1Y
- 10.81%
- 3Y*
- 10.26%
- 5Y*
- 4.56%
- 10Y*
- —
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IEMFX vs. BADEX - Expense Ratio Comparison
Both IEMFX and BADEX have an expense ratio of 1.06%.
Return for Risk
IEMFX vs. BADEX — Risk / Return Rank
IEMFX
BADEX
IEMFX vs. BADEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX). 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.
| IEMFX | BADEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 1.07 | +0.49 |
Sortino ratioReturn per unit of downside risk | 2.06 | 1.42 | +0.64 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.10 | +0.84 |
Martin ratioReturn relative to average drawdown | 8.04 | 4.45 | +3.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEMFX | BADEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.07 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.46 | -0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.54 | -0.13 |
Correlation
The correlation between IEMFX and BADEX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IEMFX vs. BADEX - Dividend Comparison
IEMFX's dividend yield for the trailing twelve months is around 2.44%, less than BADEX's 7.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMFX T. Rowe Price Institutional Emerging Markets Equity Fund | 2.44% | 2.43% | 0.92% | 1.88% | 3.87% | 3.07% | 0.56% | 1.43% | 1.15% | 0.54% | 0.83% | 0.69% |
BADEX BlackRock Defensive Advantage Emerging Markets Fund | 7.54% | 7.52% | 2.27% | 1.92% | 2.43% | 7.54% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
IEMFX vs. BADEX - Drawdown Comparison
The maximum IEMFX drawdown since its inception was -71.65%, which is greater than BADEX's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for IEMFX and BADEX.
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Drawdown Indicators
| IEMFX | BADEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.65% | -21.86% | -49.79% |
Max Drawdown (1Y)Largest decline over 1 year | -13.49% | -8.89% | -4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -43.26% | -21.86% | -21.40% |
Max Drawdown (10Y)Largest decline over 10 years | -46.27% | — | — |
Current DrawdownCurrent decline from peak | -17.35% | -8.89% | -8.46% |
Average DrawdownAverage peak-to-trough decline | -19.87% | -5.77% | -14.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 2.19% | +1.06% |
Volatility
IEMFX vs. BADEX - Volatility Comparison
T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) has a higher volatility of 9.37% compared to BlackRock Defensive Advantage Emerging Markets Fund (BADEX) at 4.93%. This indicates that IEMFX's price experiences larger fluctuations and is considered to be riskier than BADEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMFX | BADEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.37% | 4.93% | +4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 7.13% | +7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.16% | 10.20% | +7.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.37% | 9.96% | +7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 10.17% | +8.18% |