IGIEX vs. VEGBX

Last updated Jun 5, 2026

IGIEX (Ashmore Emerging Markets Investment Grade Income Fund) and VEGBX (Vanguard Emerging Markets Bond Fund Admiral Shares) are both Emerging Markets Bonds funds. Over the past 5 years, IGIEX returned 3.22%/yr vs 4.37%/yr for VEGBX. A 0.79 correlation means they provide meaningful diversification when combined. IGIEX charges 0.72%/yr vs 0.40%/yr for VEGBX.

Performance

IGIEX vs. VEGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGIEX achieves a 3.92% return, which is significantly higher than VEGBX's 2.57% return.

IGIEX

• 1D: -0.11%
• 1M: 0.47%
• YTD: 3.92%
• 6M: 4.43%
• 1Y: 17.03%
• 3Y*: 11.23%
• 5Y*: 3.22%
• 10Y*: —

VEGBX

• 1D: -0.28%
• 1M: 0.68%
• YTD: 2.57%
• 6M: 3.27%
• 1Y: 12.73%
• 3Y*: 11.76%
• 5Y*: 4.37%
• 10Y*: —

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

IGIEX vs. VEGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	3.92%	18.29%	6.74%	7.76%	-16.44%	-2.75%	6.18%
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares	2.57%	14.46%	7.60%	13.81%	-13.02%	-1.44%	6.33%

Correlation

The correlation between IGIEX and VEGBX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 6, 2020	0.79

The correlation between IGIEX and VEGBX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

IGIEX vs. VEGBX — Risk / Return Rank

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

IGIEX

IGIEX Risk / Return Rank: 95
IGIEX Sharpe Ratio Rank: 97
IGIEX Sortino Ratio Rank: 97
IGIEX Omega Ratio Rank: 95
IGIEX Calmar Ratio Rank: 92
IGIEX Martin Ratio Rank: 93

VEGBX

VEGBX Risk / Return Rank: 87
VEGBX Sharpe Ratio Rank: 91
VEGBX Sortino Ratio Rank: 94
VEGBX Omega Ratio Rank: 88
VEGBX Calmar Ratio Rank: 78
VEGBX Martin Ratio Rank: 83

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.

IGIEX vs. VEGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX). 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.

	IGIEX	VEGBX	Difference
Sharpe ratio: Return per unit of total volatility	3.60	3.06	+0.54
Sortino ratio: Return per unit of downside risk	5.99	4.94	+1.05
Omega ratio: Gain probability vs. loss probability	1.77	1.63	+0.14
Calmar ratio: Return relative to maximum drawdown	4.91	3.54	+1.37
Martin ratio: Return relative to average drawdown	19.89	15.48	+4.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGIEX vs. VEGBX - Sharpe Ratio Comparison

The current IGIEX Sharpe Ratio is 3.60, which is comparable to the VEGBX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of IGIEX and VEGBX, 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

	IGIEX	VEGBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	3.06	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.69	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.08	-0.42

Drawdowns

IGIEX vs. VEGBX - Drawdown Comparison

The maximum IGIEX drawdown since its inception was -25.61%, which is greater than VEGBX's maximum drawdown of -24.27%. Use the drawdown chart below to compare losses from any high point for IGIEX and VEGBX.

Drawdown Indicators

	IGIEX	VEGBX	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-24.27%	-1.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.60%	-3.79%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-8.89%	-5.53%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-25.61%	-24.27%	-1.34%
Current Drawdown Current decline from peak	-0.11%	-0.28%	+0.17%
Average Drawdown Average peak-to-trough decline	-8.60%	-3.84%	-4.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.86%	+0.03%

Volatility

IGIEX vs. VEGBX - Volatility Comparison

Ashmore Emerging Markets Investment Grade Income Fund (IGIEX) and Vanguard Emerging Markets Bond Fund Admiral Shares (VEGBX) have volatilities of 1.56% and 1.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGIEX	VEGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.56%	1.52%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	3.59%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	4.39%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.61%	6.34%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.40%	6.36%	-0.96%

IGIEX vs. VEGBX - Expense Ratio Comparison

IGIEX has a 0.72% expense ratio, which is higher than VEGBX's 0.40% expense ratio.

Dividends

IGIEX vs. VEGBX - Dividend Comparison

IGIEX's dividend yield for the trailing twelve months is around 6.00%, less than VEGBX's 6.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGIEX Ashmore Emerging Markets Investment Grade Income Fund	6.00%	7.40%	6.42%	4.00%	3.19%	2.31%	0.82%	0.00%	0.00%	0.00%
VEGBX Vanguard Emerging Markets Bond Fund Admiral Shares	6.17%	6.34%	7.02%	7.20%	5.61%	5.14%	4.62%	6.42%	5.00%	0.39%

Frequently Asked Questions

Can I hold both IGIEX and VEGBX in my portfolio?

IGIEX and VEGBX have a correlation of 0.86, 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 VEGBX?

IGIEX has higher volatility (1.56%) compared to VEGBX (1.52%). In terms of maximum drawdown, IGIEX dropped -25.61% vs VEGBX's -24.27%.

Which has better risk-adjusted returns?

IGIEX currently has the higher Sharpe Ratio (3.60 vs 3.06), 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.