TGWIX vs. IMCDX

Last updated Apr 1, 2026

Compare and contrast key facts about TCW Emerging Markets Local Currency Income Fund (TGWIX) and Voya Emerging Markets Corporate Debt Fund (IMCDX).

TGWIX is managed by TCW. It was launched on Dec 13, 2010. IMCDX is managed by Voya. It was launched on Aug 8, 2012.

Performance

TGWIX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Emerging Markets Local Currency Income Fund (TGWIX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

TGWIX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGWIX TCW Emerging Markets Local Currency Income Fund	-3.32%	21.09%	-3.66%	13.22%	-12.30%	-9.32%	1.78%	12.91%	-8.22%	16.28%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%

Returns By Period

TGWIX

• 1D: -0.52%
• 1M: -7.43%
• YTD: -3.32%
• 6M: 0.16%
• 1Y: 12.73%
• 3Y*: 6.72%
• 5Y*: 1.74%
• 10Y*: 2.45%

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TGWIX vs. IMCDX - Expense Ratio Comparison

TGWIX has a 0.85% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

TGWIX

TCW Emerging Markets Local Currency Income Fund

IMCDX

Voya Emerging Markets Corporate Debt Fund

Return for Risk

TGWIX vs. IMCDX — Risk / Return Rank

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

TGWIX

TGWIX Risk / Return Rank: 82
TGWIX Sharpe Ratio Rank: 88
TGWIX Sortino Ratio Rank: 89
TGWIX Omega Ratio Rank: 84
TGWIX Calmar Ratio Rank: 72
TGWIX Martin Ratio Rank: 78

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.

TGWIX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Emerging Markets Local Currency Income Fund (TGWIX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	TGWIX	IMCDX	Difference
Sharpe ratio Return per unit of total volatility	1.76	—	—
Sortino ratio Return per unit of downside risk	2.52	—	—
Omega ratio Gain probability vs. loss probability	1.34	—	—
Calmar ratio Return relative to maximum drawdown	1.68	—	—
Martin ratio Return relative to average drawdown	7.60	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TGWIX	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	—	—

Correlation

The correlation between TGWIX and IMCDX is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TGWIX vs. IMCDX - Dividend Comparison

TGWIX's dividend yield for the trailing twelve months is around 5.58%, while IMCDX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGWIX TCW Emerging Markets Local Currency Income Fund	5.58%	5.66%	6.00%	3.81%	2.70%	3.93%	0.37%	1.66%	4.16%	6.50%	0.00%	0.32%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Drawdowns

Drawdown Indicators

	TGWIX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.56%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.28%	—	—
Current Drawdown Current decline from peak	-7.64%	—	—
Average Drawdown Average peak-to-trough decline	-11.59%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	—	—

Volatility

Volatility by Period

	TGWIX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.40%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.25%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.02%	—	—