TMCIX vs. RBESX

Last updated Jun 4, 2026

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

Performance

TMCIX vs. RBESX - Performance Comparison

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

Returns By Period

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

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%

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%

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

TMCIX vs. RBESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

The correlation between TMCIX and RBESX 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

TMCIX vs. RBESX — Risk / Return Rank

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

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

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

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.

TMCIX vs. RBESX - Risk-Adjusted Trends Comparison

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

	TMCIX	RBESX	Difference
Sharpe ratio: Return per unit of total volatility	0.53	3.71	-3.17
Sortino ratio: Return per unit of downside risk	0.90	6.07	-5.17
Omega ratio: Gain probability vs. loss probability	1.10	1.82	-0.72
Calmar ratio: Return relative to maximum drawdown	0.64	3.76	-3.12
Martin ratio: Return relative to average drawdown	1.83	15.71	-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.

TMCIX vs. RBESX - Sharpe Ratio Comparison

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

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

Drawdowns

TMCIX vs. RBESX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

TMCIX vs. RBESX - Volatility Comparison

RBC SMID Cap Growth Fund (TMCIX) has a higher volatility of 4.06% compared to RBC BlueBay Emerging Market Debt Fund (RBESX) at 1.58%. This indicates that TMCIX's price experiences larger fluctuations and is considered to be riskier than RBESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

TMCIX vs. RBESX - Expense Ratio Comparison

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

Dividends

TMCIX vs. RBESX - Dividend Comparison

TMCIX's dividend yield for the trailing twelve months is around 7.76%, more than RBESX's 5.04% 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 TMCIX and RBESX in my portfolio?

TMCIX and RBESX 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, TMCIX or RBESX?

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

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.