PEMIX vs. DLENX

Last updated Aug 1, 2026

PEMIX (PIMCO Emerging Markets Corporate Bond Fund) and DLENX (DoubleLine Emerging Markets Fixed Income Fund Class N) are both Emerging Markets Bonds funds. Over the past 10 years, PEMIX returned 3.41%/yr vs 3.19%/yr for DLENX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. PEMIX charges 0.90%/yr vs 1.18%/yr for DLENX.

Performance

PEMIX vs. DLENX - Performance Comparison

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

Returns By Period

In the year-to-date period, PEMIX achieves a 0.96% return, which is significantly higher than DLENX's 0.87% return. Over the past 10 years, PEMIX has outperformed DLENX with an annualized return of 3.41%, while DLENX has yielded a comparatively lower 3.19% annualized return.

PEMIX

• 1D: 0.00%
• 1M: -0.87%
• 6M: 0.18%
• YTD: 0.96%
• 1Y: 4.85%
• 3Y*: 6.89%
• 5Y*: 1.08%
• 10Y*: 3.41%
• ALL TIME*: 4.35%

DLENX

• 1D: 0.00%
• 1M: -0.55%
• 6M: 0.17%
• YTD: 0.87%
• 1Y: 3.51%
• 3Y*: 7.13%
• 5Y*: 1.59%
• 10Y*: 3.19%
• ALL TIME*: 3.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	$0.00	$0.00	$0.00
PEMIX PIMCO Emerging Markets Corporate Bond Fund	$0.00	$0.00	$0.00

PEMIX vs. DLENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEMIX PIMCO Emerging Markets Corporate Bond Fund	0.96%	9.97%	6.32%	6.03%	-14.12%	-0.72%	5.78%	11.87%	-0.64%	9.03%
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	0.87%	8.11%	7.92%	9.36%	-15.50%	1.71%	4.66%	11.71%	-3.54%	8.31%

Correlation

The correlation between PEMIX and DLENX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Apr 6, 2010	0.69

The correlation between PEMIX and DLENX has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

Return for Risk

PEMIX vs. DLENX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEMIX

PEMIX Risk / Return Rank: 72
PEMIX Sharpe Ratio Rank: 82
PEMIX Sortino Ratio Rank: 90
PEMIX Omega Ratio Rank: 88
PEMIX Calmar Ratio Rank: 46
PEMIX Martin Ratio Rank: 54

DLENX

DLENX Risk / Return Rank: 69
DLENX Sharpe Ratio Rank: 77
DLENX Sortino Ratio Rank: 76
DLENX Omega Ratio Rank: 80
DLENX Calmar Ratio Rank: 56
DLENX Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEMIX vs. DLENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Corporate Bond Fund (PEMIX) and DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX). 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.

	PEMIX	DLENX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.83	+0.14
Sortino ratio: Return per unit of downside risk	3.41	2.60	+0.82
Omega ratio: Gain probability vs. loss probability	1.46	1.37	+0.09
Calmar ratio: Return relative to maximum drawdown	1.79	1.98	-0.19
Martin ratio: Return relative to average drawdown	7.33	7.44	-0.11

PEMIX vs. DLENX - Sharpe Ratio Comparison

The current PEMIX Sharpe Ratio is 1.97, which is comparable to the DLENX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PEMIX and DLENX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PEMIX vs. DLENX - Drawdown Comparison

The maximum PEMIX drawdown since its inception was -23.38%, smaller than the maximum DLENX drawdown of -25.64%. Use the drawdown chart below to compare losses from any high point for PEMIX and DLENX.

Drawdown Indicators

	PEMIX	DLENX	Difference
Max Drawdown Largest peak-to-trough decline	-23.38%	-25.64%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-1.83%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-3.37%	-4.35%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-23.38%	-25.64%	+2.26%
Max Drawdown (10Y) Largest decline over 10 years	-23.38%	-25.64%	+2.26%
Current Drawdown Current decline from peak	-0.87%	-0.84%	-0.03%
Average Drawdown Average peak-to-trough decline	-4.20%	-3.58%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.49%	+0.32%

Volatility

PEMIX vs. DLENX - Volatility Comparison

PIMCO Emerging Markets Corporate Bond Fund (PEMIX) and DoubleLine Emerging Markets Fixed Income Fund Class N (DLENX) have volatilities of 0.58% and 0.56%, 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

	PEMIX	DLENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.56%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	1.55%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	1.98%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.84%	4.54%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.79%	4.64%	-0.85%

PEMIX vs. DLENX - Expense Ratio Comparison

PEMIX has a 0.90% expense ratio, which is lower than DLENX's 1.18% expense ratio.

Dividends

PEMIX vs. DLENX - Dividend Comparison

PEMIX's dividend yield for the trailing twelve months is around 6.02%, more than DLENX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLENX DoubleLine Emerging Markets Fixed Income Fund Class N	4.86%	5.33%	5.71%	5.29%	4.49%	3.74%	4.11%	4.49%	3.57%	4.07%	4.29%	4.94%
PEMIX PIMCO Emerging Markets Corporate Bond Fund	6.02%	6.15%	5.45%	4.08%	3.02%	3.41%	3.78%	4.55%	4.99%	4.33%	4.62%	5.32%

Frequently Asked Questions

Can I hold both PEMIX and DLENX in my portfolio?

PEMIX and DLENX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEMIX or DLENX?

PEMIX has higher volatility (0.58%) compared to DLENX (0.56%). In terms of maximum drawdown, PEMIX dropped -23.38% vs DLENX's -25.64%.

Which has better risk-adjusted returns?

PEMIX currently has the higher Sharpe Ratio (1.97 vs 1.83), 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.