Best Emerging Markets funds
Ranking of the top 20 Emerging Markets funds (Fixed Income) by composite score (risk-adjusted return). Updated 20/07/2026.
This page ranks 20 Emerging Markets funds, a subcategory of Fixed Income, ordered by a composite score that rewards risk-adjusted return and curve stability while penalizing drawdowns. Use it to compare options within the same investment style before exploring each fund's history in the interactive view.
ℹ️ Methodology: period and indicators
All indicators are computed over the last 1.0 years (380 trading days), with daily data. The risk-free rate used is 2.0%.
Score formula (risk-adjusted return):
0.25·R² + 0.15·Sortino* + 0.2·DD* + 0.2·CAGR_excess* + 0.1·Volatility_inv* + 0.1·Ulcer_inv*
* Components normalized to the analyzed set of funds (best in set = 1, worst = 0). The drawdown term is 1 − (MaxDD / 25.0%)3, clamped to [0,1]. Volatility and Ulcer are inverted (less = better).
A higher score means better relative behavior within the analyzed set, not an investment recommendation.
🏆 Ranking
| # | ISIN | Name | Score | R² | Total Ret. | Annual Ret. | Volatility | Sharpe | Sortino | Max Drawdown | Ret./MaxDD | Calmar |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | IE0006SZI3X0 | EMER MKT CORP CREDIT ALTER | 0.693 | 0.973 | 9.66% | 9.27% | 1.32% | 5.52 | 5.46 | 0.85% | 11.41 | 10.95 |
| 2 | LU0501220429 | GBL EVOL FRONTIER MKT R AC EUR | 0.679 | 0.960 | 13.51% | 12.95% | 3.14% | 3.49 | 3.61 | 2.40% | 5.62 | 5.39 |
| 3 | LU0697197597 | GLOBAL EVOLUTION FRONTIER MAR | 0.675 | 0.956 | 12.74% | 12.22% | 3.14% | 3.25 | 3.38 | 2.48% | 5.14 | 4.92 |
| 4 | LU1706559744 | BlackRock Strategic Funds - Emerging Markets Short Duration Bond Fund A2 USD | 0.673 | 0.959 | 16.81% | 16.11% | 5.76% | 2.45 | 2.59 | 2.37% | 7.08 | 6.79 |
| 5 | LU0057132697 | Morgan Stanley Investment Funds - Emerging Markets Debt Fund I | 0.672 | 0.957 | 17.12% | 16.40% | 5.83% | 2.47 | 2.54 | 2.67% | 6.40 | 6.14 |
| 6 | LU1786037017 | BlackRock Strategic Funds - Fondo de bonos a corto plazo de mercados emergentes E2 EUR | 0.671 | 0.957 | 16.17% | 15.50% | 5.69% | 2.37 | 2.56 | 2.20% | 7.36 | 7.05 |
| 7 | LU1896847628 | EMERGING MRKTS BLEND HI AC EUH | 0.648 | 0.909 | 11.49% | 11.02% | 4.67% | 1.93 | 2.27 | 4.36% | 2.64 | 2.53 |
| 8 | LU0907927338 | DPAM L - Bonds Emerging Markets Sustainable B EUR | 0.640 | 0.889 | 11.17% | 10.72% | 4.55% | 1.91 | 1.92 | 3.91% | 2.86 | 2.74 |
| 9 | LU0772926084 | Nordea 1 - Emerging Market Bond Fund BP EU | 0.639 | 0.865 | 13.54% | 12.98% | 5.62% | 1.95 | 1.95 | 2.80% | 4.83 | 4.63 |
| 10 | IE00BKLWXM74 | Vanguard Emerging Markets Bond Fund Investor USD Accumulation Shares | 0.638 | 0.884 | 13.99% | 13.41% | 7.40% | 1.54 | 1.64 | 2.94% | 4.76 | 4.57 |
| 11 | IE00BKLWXP06 | Vanguard Emerging Markets Bond Fund Investor GBP Hedged Accumulation | 0.636 | 0.907 | 12.57% | 12.06% | 8.05% | 1.25 | 1.26 | 4.18% | 3.01 | 2.89 |
| 12 | IE00BF2N5T53 | iShares Emerging Markets Government Bond Index Fund (IE) D Acc USD | 0.635 | 0.852 | 12.99% | 12.46% | 5.36% | 1.95 | 2.05 | 2.59% | 5.01 | 4.80 |
| 13 | IE00BZ1NTF08 | iShares Em Mkts GovBd Idx(IE) Ins $ A | 0.635 | 0.851 | 12.94% | 12.41% | 5.36% | 1.94 | 2.05 | 2.59% | 5.00 | 4.79 |
| 14 | IE00BF2N5W82 | iShares Em Mkts LclGovBd Idx(IE) D $ A | 0.631 | 0.872 | 9.66% | 9.27% | 4.57% | 1.59 | 1.57 | 3.48% | 2.78 | 2.67 |
| 15 | IE000HDKMJN5 | LOC GOV BND INDEX D EUR ACC | 0.631 | 0.872 | 9.66% | 9.27% | 4.57% | 1.59 | 1.56 | 3.47% | 2.78 | 2.67 |
| 16 | IE000OZZKBN3 | iShares Em Mkts LclGovBd Idx(IE) Ins $ AEM LCL GVMT BOND INST | 0.630 | 0.870 | 9.61% | 9.22% | 4.57% | 1.58 | 1.55 | 3.47% | 2.77 | 2.65 |
| 17 | LU1811365292 | iShares EM Government Bond Index Fund | 0.629 | 0.842 | 12.83% | 12.30% | 5.74% | 1.79 | 1.78 | 2.77% | 4.63 | 4.44 |
| 18 | LU0720460723 | BB EMERGING MKTS BND M ACC EUR | 0.628 | 0.850 | 9.65% | 9.26% | 4.13% | 1.76 | 1.93 | 4.32% | 2.23 | 2.14 |
| 19 | LU0836513696 | iShares Emerging Markets Government Bond Index (LU) A2 USD | 0.627 | 0.836 | 12.56% | 12.05% | 5.78% | 1.74 | 1.75 | 2.69% | 4.67 | 4.47 |
| 20 | IE00B5ZW6Z28 | PIMCO EMERGING LOCAL BOND E ACC EURUNH | 0.625 | 0.838 | 11.72% | 11.24% | 5.19% | 1.78 | 1.88 | 4.36% | 2.69 | 2.58 |
📊 Compared evolution (base 100)
❓ Frequently asked questions
How is the fund ranking calculated?
Each fund gets a composite score from 0 to 1 that combines risk-adjusted return (excess CAGR and Sortino), curve stability (R² and inverted volatility) and drawdown control (a non-linear penalty plus the Ulcer Index). Funds are then ordered by that score.
What does the score mean for Emerging Markets funds?
A higher score means better relative behavior within the analyzed set: more stable growth and smaller drawdowns for the return achieved. It is a comparison tool, not an investment recommendation.
How often is the data updated?
The ranking is recomputed from daily NAV data each time the site is regenerated. This page was last updated on 20/07/2026.
Is this investment advice?
No. All content is educational and based on historical data. Past performance does not guarantee future results. Consult a licensed advisor before investing.