PYELX vs. TGWIX
Compare and contrast key facts about Payden Emerging Markets Local Bond Fund (PYELX) and TCW Emerging Markets Local Currency Income Fund (TGWIX).
PYELX is managed by Paydenfunds. It was launched on Nov 1, 2011. TGWIX is managed by TCW. It was launched on Dec 13, 2010.
Performance
PYELX vs. TGWIX - Performance Comparison
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PYELX vs. TGWIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYELX Payden Emerging Markets Local Bond Fund | -3.00% | 19.79% | -3.48% | 13.16% | -11.28% | -7.83% | 1.79% | 13.92% | -8.16% | 15.38% |
TGWIX TCW Emerging Markets Local Currency Income Fund | -3.45% | 21.09% | -3.66% | 13.22% | -12.30% | -9.32% | 1.78% | 12.91% | -8.22% | 16.28% |
Returns By Period
In the year-to-date period, PYELX achieves a -3.00% return, which is significantly higher than TGWIX's -3.45% return. Both investments have delivered pretty close results over the past 10 years, with PYELX having a 2.42% annualized return and TGWIX not far ahead at 2.43%.
PYELX
- 1D
- 0.63%
- 1M
- -5.30%
- YTD
- -3.00%
- 6M
- 0.18%
- 1Y
- 11.73%
- 3Y*
- 6.28%
- 5Y*
- 2.19%
- 10Y*
- 2.42%
TGWIX
- 1D
- -0.13%
- 1M
- -6.06%
- YTD
- -3.45%
- 6M
- -0.23%
- 1Y
- 12.26%
- 3Y*
- 6.67%
- 5Y*
- 1.67%
- 10Y*
- 2.43%
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PYELX vs. TGWIX - Expense Ratio Comparison
PYELX has a 0.09% expense ratio, which is lower than TGWIX's 0.85% expense ratio.
Return for Risk
PYELX vs. TGWIX — Risk / Return Rank
PYELX
TGWIX
PYELX vs. TGWIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Emerging Markets Local Bond Fund (PYELX) and TCW Emerging Markets Local Currency Income Fund (TGWIX). 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.
| PYELX | TGWIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.11 | 1.71 | -1.60 |
Sortino ratioReturn per unit of downside risk | 1.22 | 2.45 | -1.22 |
Omega ratioGain probability vs. loss probability | 1.77 | 1.33 | +0.44 |
Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.65 | -1.41 |
Martin ratioReturn relative to average drawdown | 3.45 | 7.30 | -3.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PYELX | TGWIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.11 | 1.71 | -1.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.20 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.27 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.13 | -0.10 |
Correlation
The correlation between PYELX and TGWIX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PYELX vs. TGWIX - Dividend Comparison
PYELX's dividend yield for the trailing twelve months is around 7.49%, more than TGWIX's 5.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PYELX Payden Emerging Markets Local Bond Fund | 7.49% | 7.32% | 7.08% | 5.38% | 5.93% | 5.36% | 4.69% | 5.46% | 6.67% | 6.15% | 5.44% | 5.26% |
TGWIX TCW Emerging Markets Local Currency Income Fund | 5.59% | 5.66% | 6.00% | 3.81% | 2.70% | 3.93% | 0.37% | 1.66% | 4.16% | 6.50% | 0.00% | 0.32% |
Drawdowns
PYELX vs. TGWIX - Drawdown Comparison
The maximum PYELX drawdown since its inception was -56.98%, which is greater than TGWIX's maximum drawdown of -31.56%. Use the drawdown chart below to compare losses from any high point for PYELX and TGWIX.
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Drawdown Indicators
| PYELX | TGWIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.98% | -31.56% | -25.42% |
Max Drawdown (1Y)Largest decline over 1 year | -50.21% | -7.76% | -42.45% |
Max Drawdown (5Y)Largest decline over 5 years | -51.98% | -26.94% | -25.04% |
Max Drawdown (10Y)Largest decline over 10 years | -52.62% | -28.28% | -24.34% |
Current DrawdownCurrent decline from peak | -6.64% | -7.76% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -16.96% | -11.59% | -5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 1.76% | +1.78% |
Volatility
PYELX vs. TGWIX - Volatility Comparison
The current volatility for Payden Emerging Markets Local Bond Fund (PYELX) is 3.36%, while TCW Emerging Markets Local Currency Income Fund (TGWIX) has a volatility of 4.20%. This indicates that PYELX experiences smaller price fluctuations and is considered to be less risky than TGWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PYELX | TGWIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 4.20% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.66% | 5.69% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.80% | 7.39% | +104.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.59% | 8.24% | +42.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.37% | 9.02% | +27.35% |