TSI vs. TGEIX
TSI (TCW Strategic Income Fund Inc.) and TGEIX (TCW Emerging Markets Income Fund) are both mutual funds - TSI is a Multisector Bonds fund managed by TCW, while TGEIX is a Emerging Markets Bonds fund managed by TCW. Over the past 10 years, TSI returned 5.03%/yr vs 4.15%/yr for TGEIX. At a 0.14 correlation, their price movements are largely independent.
Performance
TSI vs. TGEIX - Performance Comparison
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Returns By Period
In the year-to-date period, TSI achieves a -6.74% return, which is significantly lower than TGEIX's 4.76% return. Over the past 10 years, TSI has outperformed TGEIX with an annualized return of 5.03%, while TGEIX has yielded a comparatively lower 4.15% annualized return.
TSI
- 1D
- -0.45%
- 1M
- -0.49%
- YTD
- -6.74%
- 6M
- -4.77%
- 1Y
- -1.89%
- 3Y*
- 6.86%
- 5Y*
- 2.17%
- 10Y*
- 5.03%
TGEIX
- 1D
- -0.14%
- 1M
- 1.94%
- YTD
- 4.76%
- 6M
- 4.99%
- 1Y
- 14.24%
- 3Y*
- 11.75%
- 5Y*
- 2.73%
- 10Y*
- 4.15%
TSI vs. TGEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSI TCW Strategic Income Fund Inc. | -6.74% | 9.72% | 13.45% | 7.13% | -14.33% | 8.08% | 3.77% | 17.97% | -3.83% | 16.42% |
TGEIX TCW Emerging Markets Income Fund | 4.76% | 14.59% | 7.33% | 12.10% | -17.54% | -5.07% | 5.13% | 15.86% | -6.16% | 11.40% |
Correlation
The correlation between TSI and TGEIX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 1998 | 0.14 |
The correlation between TSI and TGEIX shifts across timeframes, from 0.14 (all time) to 0.27 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TSI vs. TGEIX — Risk / Return Rank
TSI
TGEIX
TSI vs. TGEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Strategic Income Fund Inc. (TSI) and TCW Emerging Markets Income Fund (TGEIX). 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.
| TSI | TGEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.65 | ||
| Sortino ratioReturn per unit of downside risk | -5.92 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.75 | -0.79 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 3.29 | -3.52 |
| Martin ratioReturn relative to average drawdown | -0.52 | 14.93 | -15.45 |
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Drawdowns
TSI vs. TGEIX - Drawdown Comparison
The maximum TSI drawdown since its inception was -60.35%, which is greater than TGEIX's maximum drawdown of -46.33%. Use the drawdown chart below to compare losses from any high point for TSI and TGEIX.
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Drawdown Indicators
| TSI | TGEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.35% | -46.33% | -14.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.30% | -4.56% | -3.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | -6.53% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | -29.53% | +10.97% |
Max Drawdown (10Y)Largest decline over 10 years | -30.00% | -29.74% | -0.26% |
Current DrawdownCurrent decline from peak | -6.78% | -0.42% | -6.36% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -7.23% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 1.00% | +2.64% |
Volatility
TSI vs. TGEIX - Volatility Comparison
TCW Strategic Income Fund Inc. (TSI) has a higher volatility of 1.48% compared to TCW Emerging Markets Income Fund (TGEIX) at 1.17%. This indicates that TSI's price experiences larger fluctuations and is considered to be riskier than TGEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSI | TGEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.17% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.29% | 3.67% | +3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.38% | 4.39% | +3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.89% | 6.64% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 7.71% | +6.32% |
Dividends
TSI vs. TGEIX - Dividend Comparison
TSI's dividend yield for the trailing twelve months is around 9.19%, more than TGEIX's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TGEIX TCW Emerging Markets Income Fund | 6.15% | 6.12% | 6.67% | 5.23% | 5.07% | 4.88% | 4.00% | 4.92% | 4.59% | 5.47% | 5.16% | 5.33% |
TSI TCW Strategic Income Fund Inc. | 9.19% | 6.58% | 8.00% | 7.73% | 7.00% | 6.36% | 4.83% | 7.39% | 7.07% | 5.36% | 5.21% | 4.08% |
Frequently Asked Questions
TSI and TGEIX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSI has higher volatility (1.48%) compared to TGEIX (1.17%). In terms of maximum drawdown, TSI dropped -60.35% vs TGEIX's -46.33%.
TGEIX currently has the higher Sharpe Ratio (3.42 vs -0.23), 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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