PELBX vs. DBLEX

Last updated Jun 3, 2026

PELBX (PIMCO Emerging Markets Local Currency and Bond Fund) and DBLEX (DoubleLine Emerging Markets Fixed Income Fund) are both Emerging Markets Bonds funds. Over the past 10 years, PELBX returned 4.55%/yr vs 3.85%/yr for DBLEX. At a 0.41 correlation, their price movements are largely independent. PELBX charges 1.22%/yr vs 0.90%/yr for DBLEX.

Performance

PELBX vs. DBLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Emerging Markets Local Currency and Bond Fund (PELBX) and DoubleLine Emerging Markets Fixed Income Fund (DBLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PELBX having a 1.28% return and DBLEX slightly lower at 1.27%. Over the past 10 years, PELBX has outperformed DBLEX with an annualized return of 4.55%, while DBLEX has yielded a comparatively lower 3.85% annualized return.

PELBX

• 1D: 0.00%
• 1M: 1.06%
• YTD: 1.28%
• 6M: 3.15%
• 1Y: 12.57%
• 3Y*: 10.17%
• 5Y*: 4.32%
• 10Y*: 4.55%

DBLEX

• 1D: 0.11%
• 1M: 0.14%
• YTD: 1.27%
• 6M: 1.75%
• 1Y: 6.51%
• 3Y*: 8.29%
• 5Y*: 2.12%
• 10Y*: 3.85%

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

PELBX vs. DBLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PELBX PIMCO Emerging Markets Local Currency and Bond Fund	1.28%	22.96%	-0.75%	15.11%	-7.36%	-8.13%	2.16%	17.23%	-7.49%	15.44%
DBLEX DoubleLine Emerging Markets Fixed Income Fund	1.27%	8.39%	8.20%	9.64%	-15.30%	1.97%	4.85%	11.80%	-3.20%	8.48%

Correlation

The correlation between PELBX and DBLEX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010	0.41

Return for Risk

PELBX vs. DBLEX — Risk / Return Rank

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

PELBX

PELBX Risk / Return Rank: 37
PELBX Sharpe Ratio Rank: 40
PELBX Sortino Ratio Rank: 43
PELBX Omega Ratio Rank: 49
PELBX Calmar Ratio Rank: 24
PELBX Martin Ratio Rank: 26

DBLEX

DBLEX Risk / Return Rank: 87
DBLEX Sharpe Ratio Rank: 93
DBLEX Sortino Ratio Rank: 94
DBLEX Omega Ratio Rank: 94
DBLEX Calmar Ratio Rank: 79
DBLEX Martin Ratio Rank: 78

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.

PELBX vs. DBLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Local Currency and Bond Fund (PELBX) and DoubleLine Emerging Markets Fixed Income Fund (DBLEX). 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.

	PELBX	DBLEX	Difference
Sharpe ratio Return per unit of total volatility	1.86	3.17	-1.31
Sortino ratio Return per unit of downside risk	2.77	4.82	-2.06
Omega ratio Gain probability vs. loss probability	1.38	1.75	-0.37
Calmar ratio Return relative to maximum drawdown	1.89	3.59	-1.70
Martin ratio Return relative to average drawdown	6.57	14.65	-8.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PELBX vs. DBLEX - Sharpe Ratio Comparison

The current PELBX Sharpe Ratio is 1.86, which is lower than the DBLEX Sharpe Ratio of 3.17. The chart below compares the historical Sharpe Ratios of PELBX and DBLEX, 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

	PELBX	DBLEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	3.17	-1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.47	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.83	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.00	-0.62

Drawdowns

PELBX vs. DBLEX - Drawdown Comparison

The maximum PELBX drawdown since its inception was -36.17%, which is greater than DBLEX's maximum drawdown of -25.43%. Use the drawdown chart below to compare losses from any high point for PELBX and DBLEX.

Drawdown Indicators

	PELBX	DBLEX	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-25.43%	-10.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	-1.81%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-8.49%	-4.54%	-3.95%
Max Drawdown (5Y) Largest decline over 5 years	-23.01%	-25.43%	+2.42%
Max Drawdown (10Y) Largest decline over 10 years	-24.89%	-25.43%	+0.54%
Current Drawdown Current decline from peak	-2.35%	0.00%	-2.35%
Average Drawdown Average peak-to-trough decline	-11.23%	-3.49%	-7.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	0.44%	+1.67%

Volatility

PELBX vs. DBLEX - Volatility Comparison

PIMCO Emerging Markets Local Currency and Bond Fund (PELBX) has a higher volatility of 2.40% compared to DoubleLine Emerging Markets Fixed Income Fund (DBLEX) at 0.74%. This indicates that PELBX's price experiences larger fluctuations and is considered to be riskier than DBLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PELBX	DBLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	0.74%	+1.66%
Volatility (6M) Calculated over the trailing 6-month period	6.11%	1.53%	+4.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.14%	2.06%	+5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.05%	4.52%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.93%	4.65%	+4.28%

PELBX vs. DBLEX - Expense Ratio Comparison

PELBX has a 1.22% expense ratio, which is higher than DBLEX's 0.90% expense ratio.

Dividends

PELBX vs. DBLEX - Dividend Comparison

PELBX's dividend yield for the trailing twelve months is around 7.08%, more than DBLEX's 5.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLEX DoubleLine Emerging Markets Fixed Income Fund	5.59%	5.59%	5.97%	5.54%	4.77%	4.00%	4.37%	4.57%	3.83%	4.33%	4.54%	5.21%
PELBX PIMCO Emerging Markets Local Currency and Bond Fund	7.08%	6.71%	7.08%	4.81%	3.24%	4.87%	4.87%	6.14%	6.88%	5.84%	5.69%	5.51%

Frequently Asked Questions

Can I hold both PELBX and DBLEX in my portfolio?

PELBX and DBLEX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PELBX or DBLEX?

PELBX has higher volatility (2.40%) compared to DBLEX (0.74%). In terms of maximum drawdown, PELBX dropped -36.17% vs DBLEX's -25.43%.

Which has better risk-adjusted returns?

DBLEX currently has the higher Sharpe Ratio (3.17 vs 1.86), 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.