TGWIX vs. PYELX
Compare and contrast key facts about TCW Emerging Markets Local Currency Income Fund (TGWIX) and Payden Emerging Markets Local Bond Fund (PYELX).
TGWIX is managed by TCW. It was launched on Dec 13, 2010. PYELX is managed by Paydenfunds. It was launched on Nov 1, 2011.
Performance
TGWIX vs. PYELX - Performance Comparison
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TGWIX vs. PYELX - 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% |
PYELX Payden Emerging Markets Local Bond Fund | -3.61% | 19.79% | -3.48% | 13.16% | -11.28% | -7.83% | 1.79% | 13.92% | -8.16% | 15.38% |
Returns By Period
In the year-to-date period, TGWIX achieves a -3.32% return, which is significantly higher than PYELX's -3.61% return. Both investments have delivered pretty close results over the past 10 years, with TGWIX having a 2.45% annualized return and PYELX not far behind at 2.36%.
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%
PYELX
- 1D
- -0.42%
- 1M
- -7.08%
- YTD
- -3.61%
- 6M
- -0.34%
- 1Y
- 11.27%
- 3Y*
- 6.06%
- 5Y*
- 2.07%
- 10Y*
- 2.36%
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TGWIX vs. PYELX - Expense Ratio Comparison
TGWIX has a 0.85% expense ratio, which is higher than PYELX's 0.09% expense ratio.
Return for Risk
TGWIX vs. PYELX — Risk / Return Rank
TGWIX
PYELX
TGWIX vs. PYELX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Emerging Markets Local Currency Income Fund (TGWIX) and Payden Emerging Markets Local Bond Fund (PYELX). 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 | PYELX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 0.10 | +1.66 |
Sortino ratioReturn per unit of downside risk | 2.52 | 1.21 | +1.31 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.76 | -0.42 |
Calmar ratioReturn relative to maximum drawdown | 1.68 | 0.22 | +1.45 |
Martin ratioReturn relative to average drawdown | 7.60 | 3.20 | +4.40 |
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
| TGWIX | PYELX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 0.10 | +1.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.04 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.07 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.03 | +0.11 |
Correlation
The correlation between TGWIX and PYELX is 0.83, 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
TGWIX vs. PYELX - Dividend Comparison
TGWIX's dividend yield for the trailing twelve months is around 5.58%, less than PYELX's 7.53% yield.
| 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% |
PYELX Payden Emerging Markets Local Bond Fund | 7.53% | 7.32% | 7.08% | 5.38% | 5.93% | 5.36% | 4.69% | 5.46% | 6.67% | 6.15% | 5.44% | 5.26% |
Drawdowns
TGWIX vs. PYELX - Drawdown Comparison
The maximum TGWIX drawdown since its inception was -31.56%, smaller than the maximum PYELX drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for TGWIX and PYELX.
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Drawdown Indicators
| TGWIX | PYELX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.56% | -56.98% | +25.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.64% | -50.21% | +42.57% |
Max Drawdown (5Y)Largest decline over 5 years | -26.94% | -51.98% | +25.04% |
Max Drawdown (10Y)Largest decline over 10 years | -28.28% | -52.62% | +24.34% |
Current DrawdownCurrent decline from peak | -7.64% | -7.22% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -11.59% | -16.96% | +5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 3.52% | -1.83% |
Volatility
TGWIX vs. PYELX - Volatility Comparison
TCW Emerging Markets Local Currency Income Fund (TGWIX) has a higher volatility of 4.39% compared to Payden Emerging Markets Local Bond Fund (PYELX) at 3.37%. This indicates that TGWIX's price experiences larger fluctuations and is considered to be riskier than PYELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGWIX | PYELX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 3.37% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 5.70% | 4.62% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.40% | 112.02% | -104.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.25% | 50.59% | -42.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.02% | 36.37% | -27.35% |