PYEMX vs. DBLEX
PYEMX (Payden Emerging Markets Bond Fund) and DBLEX (DoubleLine Emerging Markets Fixed Income Fund) are both Emerging Markets Bonds funds. Over the past 10 years, PYEMX returned 3.88%/yr vs 3.42%/yr for DBLEX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. PYEMX charges 0.73%/yr vs 0.90%/yr for DBLEX.
Performance
PYEMX vs. DBLEX - Performance Comparison
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Returns By Period
In the year-to-date period, PYEMX achieves a 2.19% return, which is significantly higher than DBLEX's 1.00% return. Over the past 10 years, PYEMX has outperformed DBLEX with an annualized return of 3.88%, while DBLEX has yielded a comparatively lower 3.42% annualized return.
PYEMX
- 1D
- -0.13%
- 1M
- -1.20%
- 6M
- 1.09%
- YTD
- 2.19%
- 1Y
- 10.12%
- 3Y*
- 10.11%
- 5Y*
- 2.88%
- 10Y*
- 3.88%
- ALL TIME*
- 7.62%
DBLEX
- 1D
- -0.11%
- 1M
- -0.56%
- 6M
- 0.28%
- YTD
- 1.00%
- 1Y
- 3.76%
- 3Y*
- 7.40%
- 5Y*
- 1.82%
- 10Y*
- 3.42%
- ALL TIME*
- 4.20%
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 |
PYEMX vs. DBLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PYEMX Payden Emerging Markets Bond Fund | 2.19% | 15.27% | 7.93% | 12.35% | -17.39% | -2.37% | 6.16% | 16.40% | -7.03% | 12.00% |
DBLEX DoubleLine Emerging Markets Fixed Income Fund | 1.00% | 8.39% | 8.20% | 9.64% | -15.30% | 1.97% | 4.85% | 11.80% | -3.20% | 8.48% |
Correlation
The correlation between PYEMX and DBLEX is 0.69, 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. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2010 | 0.71 |
The correlation between PYEMX and DBLEX has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.
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Return for Risk
PYEMX vs. DBLEX — Risk / Return Rank
PYEMX
DBLEX
PYEMX vs. DBLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Payden Emerging Markets Bond Fund (PYEMX) 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.
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.
| PYEMX | DBLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.38 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.15 | +0.07 |
| Martin ratioReturn relative to average drawdown | 8.99 | 8.34 | +0.65 |
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Drawdowns
PYEMX vs. DBLEX - Drawdown Comparison
The maximum PYEMX drawdown since its inception was -30.26%, which is greater than DBLEX's maximum drawdown of -25.43%. Use the drawdown chart below to compare losses from any high point for PYEMX and DBLEX.
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Drawdown Indicators
| PYEMX | DBLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.26% | -25.43% | -4.83% |
Max Drawdown (1Y)Largest decline over 1 year | -4.68% | -1.81% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -6.25% | -4.43% | -1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -30.26% | -25.43% | -4.83% |
Max Drawdown (10Y)Largest decline over 10 years | -30.26% | -25.43% | -4.83% |
Current DrawdownCurrent decline from peak | -1.45% | -0.82% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -3.45% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.47% | +0.68% |
Volatility
PYEMX vs. DBLEX - Volatility Comparison
Payden Emerging Markets Bond Fund (PYEMX) has a higher volatility of 1.01% compared to DoubleLine Emerging Markets Fixed Income Fund (DBLEX) at 0.54%. This indicates that PYEMX'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.
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Volatility by Period
| PYEMX | DBLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.54% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 3.85% | 1.63% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.53% | 2.12% | +2.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.66% | 4.51% | +2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.61% | 4.64% | +1.97% |
PYEMX vs. DBLEX - Expense Ratio Comparison
PYEMX has a 0.73% expense ratio, which is lower than DBLEX's 0.90% expense ratio.
Dividends
PYEMX vs. DBLEX - Dividend Comparison
PYEMX's dividend yield for the trailing twelve months is around 6.75%, more than DBLEX's 5.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBLEX DoubleLine Emerging Markets Fixed Income Fund | 5.11% | 5.59% | 5.97% | 5.54% | 4.77% | 4.00% | 4.37% | 4.57% | 3.83% | 4.33% | 4.54% | 5.21% |
PYEMX Payden Emerging Markets Bond Fund | 6.75% | 6.61% | 7.36% | 6.10% | 7.80% | 5.73% | 4.66% | 5.46% | 6.18% | 5.40% | 5.60% | 5.25% |
Frequently Asked Questions
PYEMX and DBLEX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYEMX has higher volatility (1.01%) compared to DBLEX (0.54%). In terms of maximum drawdown, PYEMX dropped -30.26% vs DBLEX's -25.43%.
PYEMX currently has the higher Sharpe Ratio (2.29 vs 1.84), 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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