OEQIX vs. BADEX

Last updated Apr 1, 2026

Compare and contrast key facts about Oaktree Emerging Markets Equity Fund (OEQIX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX).

OEQIX is managed by Oaktree Funds. It was launched on Jun 2, 2021. BADEX is managed by BlackRock. It was launched on Dec 20, 2020.

Performance

OEQIX vs. BADEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Oaktree Emerging Markets Equity Fund (OEQIX) and BlackRock Defensive Advantage Emerging Markets Fund (BADEX). The values are adjusted to include any dividend payments, if applicable.

OEQIX vs. BADEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OEQIX Oaktree Emerging Markets Equity Fund	-2.13%	46.19%	-2.39%	5.00%	-12.91%	-11.77%
BADEX BlackRock Defensive Advantage Emerging Markets Fund	-0.28%	13.95%	10.15%	11.67%	-11.34%	-3.84%

Returns By Period

In the year-to-date period, OEQIX achieves a -2.13% return, which is significantly lower than BADEX's -0.28% return.

OEQIX

• 1D: -0.49%
• 1M: -15.48%
• YTD: -2.13%
• 6M: 1.29%
• 1Y: 32.41%
• 3Y*: 12.22%
• 5Y*: —
• 10Y*: —

BADEX

• 1D: -0.65%
• 1M: -7.80%
• YTD: -0.28%
• 6M: 2.63%
• 1Y: 10.81%
• 3Y*: 10.26%
• 5Y*: 4.56%
• 10Y*: —

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

OEQIX vs. BADEX - Expense Ratio Comparison

OEQIX has a 1.10% expense ratio, which is higher than BADEX's 1.06% expense ratio.

OEQIX

Oaktree Emerging Markets Equity Fund

BADEX

BlackRock Defensive Advantage Emerging Markets Fund

Return for Risk

OEQIX vs. BADEX — Risk / Return Rank

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

OEQIX

OEQIX Risk / Return Rank: 78
OEQIX Sharpe Ratio Rank: 81
OEQIX Sortino Ratio Rank: 77
OEQIX Omega Ratio Rank: 76
OEQIX Calmar Ratio Rank: 76
OEQIX Martin Ratio Rank: 77

BADEX

BADEX Risk / Return Rank: 50
BADEX Sharpe Ratio Rank: 59
BADEX Sortino Ratio Rank: 51
BADEX Omega Ratio Rank: 54
BADEX Calmar Ratio Rank: 43
BADEX Martin Ratio Rank: 43

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.

OEQIX vs. BADEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Oaktree Emerging Markets Equity Fund (OEQIX) 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.

	OEQIX	BADEX	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.07	+0.44
Sortino ratio Return per unit of downside risk	1.95	1.42	+0.53
Omega ratio Gain probability vs. loss probability	1.29	1.21	+0.08
Calmar ratio Return relative to maximum drawdown	1.80	1.10	+0.70
Martin ratio Return relative to average drawdown	7.41	4.45	+2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OEQIX vs. BADEX - Sharpe Ratio Comparison

The current OEQIX Sharpe Ratio is 1.51, which is higher than the BADEX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of OEQIX and BADEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OEQIX	BADEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.07	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.54	-0.41

Correlation

The correlation between OEQIX 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

OEQIX vs. BADEX - Dividend Comparison

OEQIX's dividend yield for the trailing twelve months is around 2.03%, less than BADEX's 7.54% yield.

	TTM	2025	2024	2023	2022	2021	2020
OEQIX Oaktree Emerging Markets Equity Fund	2.03%	1.98%	2.67%	2.89%	2.73%	0.70%	0.00%
BADEX BlackRock Defensive Advantage Emerging Markets Fund	7.54%	7.52%	2.27%	1.92%	2.43%	7.54%	0.03%

Drawdowns

OEQIX vs. BADEX - Drawdown Comparison

The maximum OEQIX drawdown since its inception was -33.54%, which is greater than BADEX's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for OEQIX and BADEX.

Drawdown Indicators

	OEQIX	BADEX	Difference
Max Drawdown Largest peak-to-trough decline	-33.54%	-21.86%	-11.68%
Max Drawdown (1Y) Largest decline over 1 year	-16.60%	-8.89%	-7.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.86%	—
Current Drawdown Current decline from peak	-16.60%	-8.89%	-7.71%
Average Drawdown Average peak-to-trough decline	-16.06%	-5.77%	-10.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	2.19%	+1.84%

Volatility

OEQIX vs. BADEX - Volatility Comparison

Oaktree Emerging Markets Equity Fund (OEQIX) has a higher volatility of 10.12% compared to BlackRock Defensive Advantage Emerging Markets Fund (BADEX) at 4.93%. This indicates that OEQIX'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.

Volatility by Period

	OEQIX	BADEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.12%	4.93%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	16.83%	7.13%	+9.70%
Volatility (1Y) Calculated over the trailing 1-year period	21.38%	10.20%	+11.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.10%	9.96%	+9.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	10.17%	+8.93%