PREMX vs. GMCDX
PREMX (T. Rowe Price Emerging Markets Bond Fund) and GMCDX (GMO Emerging Country Debt Fund) are both Emerging Markets Bonds funds. Over the past 10 years, PREMX returned 3.84%/yr vs 7.35%/yr for GMCDX. Their correlation of 0.82 means they have usually moved in the same direction. PREMX charges 0.99%/yr vs 0.53%/yr for GMCDX.
Performance
PREMX vs. GMCDX - Performance Comparison
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Returns By Period
In the year-to-date period, PREMX achieves a 1.81% return, which is significantly lower than GMCDX's 8.12% return. Over the past 10 years, PREMX has underperformed GMCDX with an annualized return of 3.84%, while GMCDX has yielded a comparatively higher 7.35% annualized return.
PREMX
- 1D
- -0.20%
- 1M
- -1.72%
- 6M
- 0.49%
- YTD
- 1.81%
- 1Y
- 9.25%
- 3Y*
- 12.36%
- 5Y*
- 4.21%
- 10Y*
- 3.84%
- ALL TIME*
- 8.17%
GMCDX
- 1D
- -0.41%
- 1M
- -1.06%
- 6M
- 4.10%
- YTD
- 8.12%
- 1Y
- 19.70%
- 3Y*
- 17.38%
- 5Y*
- 9.30%
- 10Y*
- 7.35%
- ALL TIME*
- 4.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PREMX vs. GMCDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PREMX T. Rowe Price Emerging Markets Bond Fund | 1.81% | 15.93% | 10.84% | 18.52% | -18.37% | -2.44% | 4.63% | 11.34% | -7.22% | 9.02% |
GMCDX GMO Emerging Country Debt Fund | 8.12% | 22.34% | 13.39% | 17.63% | -16.30% | 6.56% | 7.25% | 14.28% | -5.89% | 12.49% |
Correlation
The correlation between PREMX and GMCDX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1995 | 0.82 |
The correlation between PREMX and GMCDX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
PREMX vs. GMCDX — Risk / Return Rank
PREMX
GMCDX
PREMX vs. GMCDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Bond Fund (PREMX) and GMO Emerging Country Debt Fund (GMCDX). 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.
| PREMX | GMCDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.89 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 5.14 | -2.85 |
| Martin ratioReturn relative to average drawdown | 9.46 | 21.50 | -12.04 |
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Drawdowns
PREMX vs. GMCDX - Drawdown Comparison
The maximum PREMX drawdown since its inception was -43.95%, smaller than the maximum GMCDX drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for PREMX and GMCDX.
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Drawdown Indicators
| PREMX | GMCDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.95% | -68.24% | +24.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.10% | -3.85% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -9.00% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -26.02% | -5.67% |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | -26.02% | -5.67% |
Current DrawdownCurrent decline from peak | -1.95% | -1.46% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -17.57% | +12.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.92% | +0.07% |
Volatility
PREMX vs. GMCDX - Volatility Comparison
The current volatility for T. Rowe Price Emerging Markets Bond Fund (PREMX) is 0.90%, while GMO Emerging Country Debt Fund (GMCDX) has a volatility of 0.99%. This indicates that PREMX experiences smaller price fluctuations and is considered to be less risky than GMCDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PREMX | GMCDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.99% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 4.00% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 5.29% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 11.22% | -4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.12% | 9.30% | -2.18% |
PREMX vs. GMCDX - Expense Ratio Comparison
PREMX has a 0.99% expense ratio, which is higher than GMCDX's 0.53% expense ratio.
Dividends
PREMX vs. GMCDX - Dividend Comparison
PREMX's dividend yield for the trailing twelve months is around 5.31%, more than GMCDX's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMCDX GMO Emerging Country Debt Fund | 4.52% | 6.27% | 6.88% | 10.26% | 13.73% | 17.75% | 9.66% | 6.60% | 7.76% | 7.06% | 6.00% | 2.50% |
PREMX T. Rowe Price Emerging Markets Bond Fund | 5.31% | 7.16% | 9.95% | 9.36% | 3.96% | 4.63% | 4.55% | 5.24% | 5.29% | 7.01% | 6.45% | 6.59% |
Frequently Asked Questions
PREMX and GMCDX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMCDX has higher volatility (0.99%) compared to PREMX (0.90%). In terms of maximum drawdown, PREMX dropped -43.95% vs GMCDX's -68.24%.
GMCDX currently has the higher Sharpe Ratio (3.74 vs 2.12), 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.
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