PDHVX vs. IMCDX

Last updated Jul 3, 2026

PDHVX (PGIM Emerging Markets Debt Hard Currency Fund) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both Emerging Markets Bonds funds. A 0.66 correlation means they provide meaningful diversification when combined. PDHVX charges 0.75%/yr vs 0.10%/yr for IMCDX.

Performance

PDHVX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Emerging Markets Debt Hard Currency Fund (PDHVX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PDHVX

• 1D: -0.27%
• 1M: 0.49%
• 6M: 3.69%
• YTD: 3.69%
• 1Y: 12.34%
• 3Y*: 10.78%
• 5Y*: 2.78%
• 10Y*: —

IMCDX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PDHVX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDHVX PGIM Emerging Markets Debt Hard Currency Fund	3.69%	14.99%	7.14%	9.90%	-17.36%	-2.12%	4.37%	15.58%	-6.52%	0.16%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	0.34%

Correlation

The correlation between PDHVX and IMCDX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 18, 2017	0.66

The correlation between PDHVX and IMCDX shifts across timeframes, from 0.54 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PDHVX vs. IMCDX — Risk / Return Rank

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

PDHVX

PDHVX Risk / Return Rank: 79
PDHVX Sharpe Ratio Rank: 87
PDHVX Sortino Ratio Rank: 90
PDHVX Omega Ratio Rank: 85
PDHVX Calmar Ratio Rank: 61
PDHVX Martin Ratio Rank: 74

IMCDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PDHVX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Emerging Markets Debt Hard Currency Fund (PDHVX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	PDHVX	IMCDX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	—	—
Sortino ratio: Return per unit of downside risk	3.79	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	2.45	—	—
Martin ratio: Return relative to average drawdown	10.95	—	—

Drawdowns

Drawdown Indicators

	PDHVX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-29.66%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.99%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.66%	—	—
Current Drawdown Current decline from peak	-0.27%	—	—
Average Drawdown Average peak-to-trough decline	-7.49%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	—	—

Volatility

Volatility by Period

	PDHVX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.90%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.80%	—	—

PDHVX vs. IMCDX - Expense Ratio Comparison

PDHVX has a 0.75% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

Dividends

PDHVX vs. IMCDX - Dividend Comparison

PDHVX's dividend yield for the trailing twelve months is around 6.81%, while IMCDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%
PDHVX PGIM Emerging Markets Debt Hard Currency Fund	6.81%	6.95%	8.80%	5.93%	8.88%	5.14%	4.76%	5.90%	5.96%	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PDHVX and IMCDX in my portfolio?

PDHVX and IMCDX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.