IGIEX vs. ESFIX
IGIEX (Ashmore Emerging Markets Investment Grade Income Fund) and ESFIX (Ashmore Emerging Markets Short Duration Fund) are both Emerging Markets Bonds funds from Ashmore. Over the past 5 years, IGIEX returned 2.80%/yr vs -2.43%/yr for ESFIX. Their 0.37 correlation means their historical movements had little consistent relationship. IGIEX charges 0.72%/yr vs 0.65%/yr for ESFIX.
Performance
IGIEX vs. ESFIX - Performance Comparison
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Returns By Period
In the year-to-date period, IGIEX achieves a 2.85% return, which is significantly higher than ESFIX's 2.70% return.
IGIEX
- 1D
- -0.33%
- 1M
- -1.16%
- 6M
- 1.43%
- YTD
- 2.85%
- 1Y
- 11.44%
- 3Y*
- 10.49%
- 5Y*
- 2.80%
- 10Y*
- —
- ALL TIME*
- 3.29%
ESFIX
- 1D
- 0.21%
- 1M
- 0.63%
- 6M
- 2.31%
- YTD
- 2.70%
- 1Y
- 6.09%
- 3Y*
- 10.01%
- 5Y*
- -2.43%
- 10Y*
- -1.33%
- ALL TIME*
- -1.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IGIEX vs. ESFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGIEX Ashmore Emerging Markets Investment Grade Income Fund | 2.85% | 18.29% | 6.74% | 7.76% | -16.44% | -2.75% | 6.18% |
ESFIX Ashmore Emerging Markets Short Duration Fund | 2.70% | 7.09% | 7.94% | 13.03% | -21.54% | -18.83% | 6.62% |
Correlation
The correlation between IGIEX and ESFIX is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2020 | 0.37 |
Over the past year, the correlation between IGIEX and ESFIX has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
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Return for Risk
IGIEX vs. ESFIX — Risk / Return Rank
IGIEX
ESFIX
IGIEX vs. ESFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and Ashmore Emerging Markets Short Duration Fund (ESFIX). 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 | ESFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.24 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 1.26 | +2.00 |
| Martin ratioReturn relative to average drawdown | 12.60 | 4.68 | +7.92 |
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Drawdowns
IGIEX vs. ESFIX - Drawdown Comparison
The maximum IGIEX drawdown since its inception was -25.61%, smaller than the maximum ESFIX drawdown of -48.22%. Use the drawdown chart below to compare losses from any high point for IGIEX and ESFIX.
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Drawdown Indicators
| IGIEX | ESFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.61% | -48.22% | +22.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -4.86% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -7.51% | -5.18% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -25.61% | -40.62% | +15.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.22% | — |
Current DrawdownCurrent decline from peak | -1.70% | -24.15% | +22.45% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -17.04% | +8.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 1.30% | -0.37% |
Volatility
IGIEX vs. ESFIX - Volatility Comparison
The current volatility for Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) is 0.90%, while Ashmore Emerging Markets Short Duration Fund (ESFIX) has a volatility of 1.97%. This indicates that IGIEX experiences smaller price fluctuations and is considered to be less risky than ESFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGIEX | ESFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 1.97% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 3.20% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.83% | 9.17% | -4.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 8.24% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 8.34% | -2.98% |
IGIEX vs. ESFIX - Expense Ratio Comparison
IGIEX has a 0.72% expense ratio, which is higher than ESFIX's 0.65% expense ratio.
Dividends
IGIEX vs. ESFIX - Dividend Comparison
IGIEX's dividend yield for the trailing twelve months is around 5.69%, less than ESFIX's 7.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ESFIX Ashmore Emerging Markets Short Duration Fund | 7.79% | 3.70% | 4.37% | 7.75% | 6.83% | 7.62% | 5.38% | 8.15% | 6.58% | 5.63% | 1.37% |
IGIEX Ashmore Emerging Markets Investment Grade Income Fund | 5.69% | 7.40% | 6.42% | 4.00% | 3.19% | 2.31% | 0.82% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGIEX and ESFIX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESFIX has higher volatility (1.97%) compared to IGIEX (0.90%). In terms of maximum drawdown, IGIEX dropped -25.61% vs ESFIX's -48.22%.
IGIEX currently has the higher Sharpe Ratio (2.43 vs 0.67), 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.
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