PREMX vs. DBLLX

Last updated Jun 3, 2026

PREMX (T. Rowe Price Emerging Markets Bond Fund) and DBLLX (DoubleLine Low Duration Emerging Markets Fixed Income Fund) are both Emerging Markets Bonds funds. Over the past 10 years, PREMX returned 4.58%/yr vs 3.53%/yr for DBLLX. A 0.53 correlation means they provide meaningful diversification when combined. PREMX charges 0.99%/yr vs 0.59%/yr for DBLLX.

Performance

PREMX vs. DBLLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Emerging Markets Bond Fund (PREMX) and DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PREMX achieves a 3.49% return, which is significantly higher than DBLLX's 1.10% return. Over the past 10 years, PREMX has outperformed DBLLX with an annualized return of 4.58%, while DBLLX has yielded a comparatively lower 3.53% annualized return.

PREMX

• 1D: 0.00%
• 1M: 1.25%
• YTD: 3.49%
• 6M: 4.81%
• 1Y: 16.18%
• 3Y*: 15.06%
• 5Y*: 4.76%
• 10Y*: 4.58%

DBLLX

• 1D: 0.00%
• 1M: -0.01%
• YTD: 1.10%
• 6M: 1.52%
• 1Y: 5.50%
• 3Y*: 6.99%
• 5Y*: 3.43%
• 10Y*: 3.53%

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

PREMX vs. DBLLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PREMX T. Rowe Price Emerging Markets Bond Fund	3.49%	16.55%	10.84%	18.52%	-18.37%	-2.44%	4.63%	11.34%	-7.22%	9.02%
DBLLX DoubleLine Low Duration Emerging Markets Fixed Income Fund	1.10%	7.86%	7.20%	7.00%	-5.05%	-0.21%	3.53%	8.57%	-0.04%	4.20%

Correlation

The correlation between PREMX and DBLLX 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	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Apr 9, 2014	0.53

The correlation between PREMX and DBLLX shifts across timeframes, from 0.44 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PREMX vs. DBLLX — Risk / Return Rank

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

PREMX

PREMX Risk / Return Rank: 92
PREMX Sharpe Ratio Rank: 97
PREMX Sortino Ratio Rank: 97
PREMX Omega Ratio Rank: 94
PREMX Calmar Ratio Rank: 83
PREMX Martin Ratio Rank: 87

DBLLX

DBLLX Risk / Return Rank: 98
DBLLX Sharpe Ratio Rank: 99
DBLLX Sortino Ratio Rank: 99
DBLLX Omega Ratio Rank: 99
DBLLX Calmar Ratio Rank: 96
DBLLX Martin Ratio Rank: 97

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.

PREMX vs. DBLLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Bond Fund (PREMX) and DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX). 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.

	PREMX	DBLLX	Difference
Sharpe ratio Return per unit of total volatility	3.56	4.80	-1.24
Sortino ratio Return per unit of downside risk	5.85	8.78	-2.93
Omega ratio Gain probability vs. loss probability	1.75	2.63	-0.87
Calmar ratio Return relative to maximum drawdown	3.88	6.07	-2.18
Martin ratio Return relative to average drawdown	16.78	27.93	-11.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PREMX vs. DBLLX - Sharpe Ratio Comparison

The current PREMX Sharpe Ratio is 3.56, which is comparable to the DBLLX Sharpe Ratio of 4.80. The chart below compares the historical Sharpe Ratios of PREMX and DBLLX, 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

	PREMX	DBLLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.56	4.80	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	1.78	-1.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	1.86	-1.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.70	-0.84

Drawdowns

PREMX vs. DBLLX - Drawdown Comparison

The maximum PREMX drawdown since its inception was -43.95%, which is greater than DBLLX's maximum drawdown of -10.13%. Use the drawdown chart below to compare losses from any high point for PREMX and DBLLX.

Drawdown Indicators

	PREMX	DBLLX	Difference
Max Drawdown Largest peak-to-trough decline	-43.95%	-10.13%	-33.82%
Max Drawdown (1Y) Largest decline over 1 year	-4.10%	-0.92%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-5.88%	-1.35%	-4.53%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-10.13%	-21.56%
Max Drawdown (10Y) Largest decline over 10 years	-31.69%	-10.13%	-21.56%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.16%	-1.29%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.20%	+0.75%

Volatility

PREMX vs. DBLLX - Volatility Comparison

T. Rowe Price Emerging Markets Bond Fund (PREMX) has a higher volatility of 1.66% compared to DoubleLine Low Duration Emerging Markets Fixed Income Fund (DBLLX) at 0.43%. This indicates that PREMX's price experiences larger fluctuations and is considered to be riskier than DBLLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PREMX	DBLLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	0.43%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	3.53%	0.90%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	4.50%	1.15%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	1.94%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.15%	1.90%	+5.25%

PREMX vs. DBLLX - Expense Ratio Comparison

PREMX has a 0.99% expense ratio, which is higher than DBLLX's 0.59% expense ratio.

Dividends

PREMX vs. DBLLX - Dividend Comparison

PREMX's dividend yield for the trailing twelve months is around 6.66%, more than DBLLX's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBLLX DoubleLine Low Duration Emerging Markets Fixed Income Fund	5.08%	5.27%	4.70%	3.74%	2.41%	2.15%	2.61%	4.93%	2.87%	3.00%	3.19%	3.77%
PREMX T. Rowe Price Emerging Markets Bond Fund	6.66%	7.69%	9.95%	9.36%	3.96%	4.63%	4.55%	5.24%	5.29%	7.01%	6.45%	6.59%

Frequently Asked Questions

Can I hold both PREMX and DBLLX in my portfolio?

PREMX and DBLLX 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, PREMX or DBLLX?

PREMX has higher volatility (1.66%) compared to DBLLX (0.43%). In terms of maximum drawdown, PREMX dropped -43.95% vs DBLLX's -10.13%.

Which has better risk-adjusted returns?

DBLLX currently has the higher Sharpe Ratio (4.80 vs 3.56), 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.