TWMIX vs. GTDDX

Last updated Jun 23, 2026

TWMIX (American Century Emerging Markets Fund) and GTDDX (Invesco EQV Emerging Markets All Cap Fd) are both Emerging Markets Diversified funds. Over the past 10 years, TWMIX returned 10.79%/yr vs 10.50%/yr for GTDDX. Their correlation of 0.88 suggests significant overlap in exposure. TWMIX charges 1.26%/yr vs 1.39%/yr for GTDDX.

Performance

TWMIX vs. GTDDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Emerging Markets Fund (TWMIX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWMIX achieves a 38.68% return, which is significantly lower than GTDDX's 49.56% return. Both investments have delivered pretty close results over the past 10 years, with TWMIX having a 10.79% annualized return and GTDDX not far behind at 10.50%.

TWMIX

• 1D: 3.89%
• 1M: 8.03%
• YTD: 38.68%
• 6M: 40.77%
• 1Y: 72.37%
• 3Y*: 27.88%
• 5Y*: 7.88%
• 10Y*: 10.79%

GTDDX

• 1D: 3.14%
• 1M: 11.61%
• YTD: 49.56%
• 6M: 53.96%
• 1Y: 80.26%
• 3Y*: 23.54%
• 5Y*: 9.31%
• 10Y*: 10.50%

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

TWMIX vs. GTDDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWMIX American Century Emerging Markets Fund	38.68%	35.27%	11.44%	5.43%	-28.14%	-6.04%	25.13%	21.94%	-19.14%	45.85%
GTDDX Invesco EQV Emerging Markets All Cap Fd	49.56%	29.88%	-0.66%	8.82%	-17.70%	-7.00%	17.19%	29.99%	-18.77%	30.34%

Correlation

The correlation between TWMIX and GTDDX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 30, 1997	0.88

The correlation between TWMIX and GTDDX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

TWMIX vs. GTDDX — Risk / Return Rank

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

TWMIX

TWMIX Risk / Return Rank: 92
TWMIX Sharpe Ratio Rank: 96
TWMIX Sortino Ratio Rank: 85
TWMIX Omega Ratio Rank: 89
TWMIX Calmar Ratio Rank: 95
TWMIX Martin Ratio Rank: 95

GTDDX

GTDDX Risk / Return Rank: 95
GTDDX Sharpe Ratio Rank: 98
GTDDX Sortino Ratio Rank: 92
GTDDX Omega Ratio Rank: 92
GTDDX Calmar Ratio Rank: 95
GTDDX Martin Ratio Rank: 95

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.

TWMIX vs. GTDDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Emerging Markets Fund (TWMIX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX). 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.

	TWMIX	GTDDX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	3.64	-0.44
Sortino ratio: Return per unit of downside risk	3.75	4.34	-0.59
Omega ratio: Gain probability vs. loss probability	1.59	1.66	-0.07
Calmar ratio: Return relative to maximum drawdown	5.45	5.41	+0.04
Martin ratio: Return relative to average drawdown	20.57	20.42	+0.14

TWMIX vs. GTDDX - Sharpe Ratio Comparison

The current TWMIX Sharpe Ratio is 3.20, which is comparable to the GTDDX Sharpe Ratio of 3.64. The chart below compares the historical Sharpe Ratios of TWMIX and GTDDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TWMIX vs. GTDDX - Drawdown Comparison

The maximum TWMIX drawdown since its inception was -68.57%, which is greater than GTDDX's maximum drawdown of -62.89%. Use the drawdown chart below to compare losses from any high point for TWMIX and GTDDX.

Drawdown Indicators

	TWMIX	GTDDX	Difference
Max Drawdown Largest peak-to-trough decline	-68.57%	-62.89%	-5.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.29%	-14.49%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-16.63%	-16.08%	-0.55%
Max Drawdown (5Y) Largest decline over 5 years	-43.53%	-36.93%	-6.60%
Max Drawdown (10Y) Largest decline over 10 years	-47.51%	-39.58%	-7.93%
Current Drawdown Current decline from peak	0.00%	-0.27%	+0.27%
Average Drawdown Average peak-to-trough decline	-24.41%	-18.73%	-5.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	3.82%	-0.30%

Volatility

TWMIX vs. GTDDX - Volatility Comparison

American Century Emerging Markets Fund (TWMIX) and Invesco EQV Emerging Markets All Cap Fd (GTDDX) have volatilities of 12.04% and 11.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWMIX	GTDDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.04%	11.53%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	20.28%	19.27%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	22.62%	21.50%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	16.92%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	17.15%	+2.28%

TWMIX vs. GTDDX - Expense Ratio Comparison

TWMIX has a 1.26% expense ratio, which is lower than GTDDX's 1.39% expense ratio.

Dividends

TWMIX vs. GTDDX - Dividend Comparison

TWMIX's dividend yield for the trailing twelve months is around 0.83%, less than GTDDX's 14.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTDDX Invesco EQV Emerging Markets All Cap Fd	14.13%	21.13%	1.16%	1.51%	1.17%	4.46%	5.05%	1.49%	1.53%	0.71%	0.86%	0.99%
TWMIX American Century Emerging Markets Fund	0.83%	1.14%	0.71%	1.30%	3.37%	0.58%	0.97%	0.48%	0.92%	0.24%	0.12%	0.08%

Frequently Asked Questions

Can I hold both TWMIX and GTDDX in my portfolio?

TWMIX and GTDDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWMIX or GTDDX?

TWMIX has higher volatility (12.04%) compared to GTDDX (11.53%). In terms of maximum drawdown, TWMIX dropped -68.57% vs GTDDX's -62.89%.

Which has better risk-adjusted returns?

GTDDX currently has the higher Sharpe Ratio (3.64 vs 3.20), 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.