RBESX vs. TMCIX

Last updated Jun 4, 2026

RBESX (RBC BlueBay Emerging Market Debt Fund) and TMCIX (RBC SMID Cap Growth Fund) are both mutual funds - RBESX is a Emerging Markets Bonds fund managed by RBC Global Asset Management., while TMCIX is a Mid Cap Growth Equities fund managed by RBC Global Asset Management.. Over the past 10 years, RBESX returned 4.96%/yr vs 9.29%/yr for TMCIX. At a 0.34 correlation, their price movements are largely independent. RBESX charges 0.79%/yr vs 0.82%/yr for TMCIX.

Performance

RBESX vs. TMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RBC BlueBay Emerging Market Debt Fund (RBESX) and RBC SMID Cap Growth Fund (TMCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RBESX achieves a 3.60% return, which is significantly higher than TMCIX's 0.27% return. Over the past 10 years, RBESX has underperformed TMCIX with an annualized return of 4.96%, while TMCIX has yielded a comparatively higher 9.29% annualized return.

RBESX

• 1D: 0.33%
• 1M: 1.42%
• YTD: 3.60%
• 6M: 4.47%
• 1Y: 15.30%
• 3Y*: 12.55%
• 5Y*: 4.37%
• 10Y*: 4.96%

TMCIX

• 1D: 0.20%
• 1M: 0.88%
• YTD: 0.27%
• 6M: -0.40%
• 1Y: 6.98%
• 3Y*: 4.97%
• 5Y*: 3.25%
• 10Y*: 9.29%

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

RBESX vs. TMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RBESX RBC BlueBay Emerging Market Debt Fund	3.60%	14.64%	6.90%	15.63%	-14.57%	-3.45%	7.02%	15.39%	-5.05%	12.78%
TMCIX RBC SMID Cap Growth Fund	0.27%	-0.79%	6.78%	17.32%	-16.59%	23.50%	20.52%	33.98%	-4.58%	17.07%

Correlation

The correlation between RBESX and TMCIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.34

Return for Risk

RBESX vs. TMCIX — Risk / Return Rank

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

RBESX

RBESX Risk / Return Rank: 91
RBESX Sharpe Ratio Rank: 97
RBESX Sortino Ratio Rank: 97
RBESX Omega Ratio Rank: 96
RBESX Calmar Ratio Rank: 82
RBESX Martin Ratio Rank: 83

TMCIX

TMCIX Risk / Return Rank: 7
TMCIX Sharpe Ratio Rank: 7
TMCIX Sortino Ratio Rank: 7
TMCIX Omega Ratio Rank: 6
TMCIX Calmar Ratio Rank: 7
TMCIX Martin Ratio Rank: 7

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.

RBESX vs. TMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RBC BlueBay Emerging Market Debt Fund (RBESX) and RBC SMID Cap Growth Fund (TMCIX). 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.

	RBESX	TMCIX	Difference
Sharpe ratio: Return per unit of total volatility	3.71	0.53	+3.17
Sortino ratio: Return per unit of downside risk	6.07	0.90	+5.17
Omega ratio: Gain probability vs. loss probability	1.82	1.10	+0.72
Calmar ratio: Return relative to maximum drawdown	3.76	0.64	+3.12
Martin ratio: Return relative to average drawdown	15.71	1.83	+13.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RBESX vs. TMCIX - Sharpe Ratio Comparison

The current RBESX Sharpe Ratio is 3.71, which is higher than the TMCIX Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of RBESX and TMCIX, 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

	RBESX	TMCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.71	0.53	+3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.16	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.45	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.26	-0.14

Drawdowns

RBESX vs. TMCIX - Drawdown Comparison

The maximum RBESX drawdown since its inception was -51.19%, smaller than the maximum TMCIX drawdown of -57.70%. Use the drawdown chart below to compare losses from any high point for RBESX and TMCIX.

Drawdown Indicators

	RBESX	TMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.19%	-57.70%	+6.51%
Max Drawdown (1Y) Largest decline over 1 year	-4.18%	-13.76%	+9.58%
Max Drawdown (3Y) Largest decline over 3 years	-7.02%	-25.64%	+18.62%
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	-25.64%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	-51.19%	-37.34%	-13.85%
Current Drawdown Current decline from peak	-17.90%	-6.83%	-11.07%
Average Drawdown Average peak-to-trough decline	-25.42%	-16.57%	-8.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	4.78%	-3.78%

Volatility

RBESX vs. TMCIX - Volatility Comparison

The current volatility for RBC BlueBay Emerging Market Debt Fund (RBESX) is 1.58%, while RBC SMID Cap Growth Fund (TMCIX) has a volatility of 4.06%. This indicates that RBESX experiences smaller price fluctuations and is considered to be less risky than TMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RBESX	TMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	4.06%	-2.48%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	11.85%	-8.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.24%	16.45%	-12.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.96%	20.17%	-13.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.88%	20.76%	+16.12%

RBESX vs. TMCIX - Expense Ratio Comparison

RBESX has a 0.79% expense ratio, which is lower than TMCIX's 0.82% expense ratio.

Dividends

RBESX vs. TMCIX - Dividend Comparison

RBESX's dividend yield for the trailing twelve months is around 5.04%, less than TMCIX's 7.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RBESX RBC BlueBay Emerging Market Debt Fund	5.04%	5.58%	6.59%	6.60%	7.85%	3.37%	3.58%	5.94%	3.78%	3.67%	0.00%	0.00%
TMCIX RBC SMID Cap Growth Fund	7.76%	7.78%	1.32%	2.04%	7.82%	24.68%	2.63%	7.32%	9.26%	22.57%	7.25%	11.05%

Frequently Asked Questions

Can I hold both RBESX and TMCIX in my portfolio?

RBESX and TMCIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RBESX or TMCIX?

TMCIX has higher volatility (4.06%) compared to RBESX (1.58%). In terms of maximum drawdown, RBESX dropped -51.19% vs TMCIX's -57.70%.

Which has better risk-adjusted returns?

RBESX currently has the higher Sharpe Ratio (3.71 vs 0.53), 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.