IGIEX vs. DLENX

Last updated Aug 5, 2026

IGIEX (Ashmore Emerging Markets Investment Grade Income Fund) and DLENX (DoubleLine Emerging Markets Fixed Income Fund Class N) are both Emerging Markets Bonds funds. Over the past 5 years, IGIEX returned 2.81%/yr vs 1.48%/yr for DLENX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. IGIEX charges 0.72%/yr vs 1.18%/yr for DLENX.

Performance

IGIEX vs. DLENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGIEX achieves a 3.19% return, which is significantly higher than DLENX's 0.92% return.

IGIEX

• 1D: 0.33%
• 1M: -0.83%
• 6M: 1.77%
• YTD: 3.19%
• 1Y: 11.55%
• 3Y*: 11.26%
• 5Y*: 2.81%
• 10Y*: —
• ALL TIME*: 3.35%

DLENX

• 1D: 0.11%
• 1M: -0.51%
• 6M: 0.21%
• YTD: 0.92%
• 1Y: 3.55%
• 3Y*: 7.35%
• 5Y*: 1.48%
• 10Y*: 3.17%
• ALL TIME*: 3.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	$0.00	$0.00	$0.00
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	$0.00	$0.00	$0.00

IGIEX vs. DLENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	3.19%	18.29%	6.74%	7.76%	-16.44%	-2.75%	6.18%
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	0.92%	8.11%	7.92%	9.36%	-15.50%	1.71%	5.48%

Correlation

The correlation between IGIEX and DLENX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (All Time) Calculated using the full available price history since Oct 5, 2020	0.70

The correlation between IGIEX and DLENX shifts across timeframes, from 0.59 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IGIEX vs. DLENX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IGIEX

IGIEX Risk / Return Rank: 90
IGIEX Sharpe Ratio Rank: 92
IGIEX Sortino Ratio Rank: 95
IGIEX Omega Ratio Rank: 92
IGIEX Calmar Ratio Rank: 85
IGIEX Martin Ratio Rank: 87

DLENX

DLENX Risk / Return Rank: 61
DLENX Sharpe Ratio Rank: 70
DLENX Sortino Ratio Rank: 69
DLENX Omega Ratio Rank: 76
DLENX Calmar Ratio Rank: 44
DLENX Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IGIEX vs. DLENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX). 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.

	IGIEX	DLENX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.80	+0.65
Sortino ratio: Return per unit of downside risk	4.02	2.56	+1.46
Omega ratio: Gain probability vs. loss probability	1.49	1.37	+0.13
Calmar ratio: Return relative to maximum drawdown	3.29	1.95	+1.34
Martin ratio: Return relative to average drawdown	12.58	7.25	+5.34

IGIEX vs. DLENX - Sharpe Ratio Comparison

The current IGIEX Sharpe Ratio is 2.45, which is higher than the DLENX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IGIEX and DLENX, 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

IGIEX vs. DLENX - Drawdown Comparison

The maximum IGIEX drawdown since its inception was -25.61%, roughly equal to the maximum DLENX drawdown of -25.64%. Use the drawdown chart below to compare losses from any high point for IGIEX and DLENX.

Drawdown Indicators

	IGIEX	DLENX	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-25.64%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-3.60%	-1.83%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-7.51%	-4.35%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-25.64%	+0.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.64%	—
Current Drawdown Current decline from peak	-1.37%	-0.79%	-0.58%
Average Drawdown Average peak-to-trough decline	-8.38%	-3.58%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.49%	+0.45%

Volatility

IGIEX vs. DLENX - Volatility Comparison

Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) has a higher volatility of 0.97% compared to DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX) at 0.57%. This indicates that IGIEX's price experiences larger fluctuations and is considered to be riskier than DLENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGIEX	DLENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	0.57%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	3.61%	1.55%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.85%	1.98%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.64%	4.54%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.36%	4.64%	+0.72%

IGIEX vs. DLENX - Expense Ratio Comparison

IGIEX has a 0.72% expense ratio, which is lower than DLENX's 1.18% expense ratio.

Dividends

IGIEX vs. DLENX - Dividend Comparison

IGIEX's dividend yield for the trailing twelve months is around 5.67%, more than DLENX's 5.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	5.26%	5.33%	5.71%	5.29%	4.49%	3.74%	4.11%	4.49%	3.57%	4.07%	4.29%	4.94%
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	5.67%	7.40%	6.42%	4.00%	3.19%	2.31%	0.82%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGIEX and DLENX in my portfolio?

IGIEX and DLENX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGIEX or DLENX?

IGIEX has higher volatility (0.97%) compared to DLENX (0.57%). In terms of maximum drawdown, IGIEX dropped -25.61% vs DLENX's -25.64%.

Which has better risk-adjusted returns?

IGIEX currently has the higher Sharpe Ratio (2.45 vs 1.80), 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.