Fund Evaluator:
Transamerica Emerging Markets Debt C (EMTCX)
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Best Performing in Emerging Markets Bond Over the Last Year
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| 14.6% | Artisan Emerging Markets Debt Opp Inv (APFOX) |
| 10.8% | TCW Emerging Markets Income N (TGINX) |
| 10.7% | Fidelity New Markets Income (FNMIX) |
| 10.7% | Fidelity Advisor New Markets Income Z (FGBMX) |
Fund Details
Transamerica Emerging Markets Debt C Overview
Transamerica Emerging Markets Debt C (EMTCX) is an actively managed Taxable Bond Emerging Markets Bond fund. Transamerica launched the fund in 2011.
The investment seeks to generate a high total return through a combination of capital appreciation and income. The fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in debt securities of issuers located in emerging market countries. The fund's U.S. dollar and euro denominated sovereign exposure is expected to range between 30% and 100% and corporate exposure between 30% and 70%, and the fund’s local currency sovereign and corporate exposures is expected to range between 5% and 40%. The fund is non-diversified.
About Transamerica Emerging Markets Debt C (EMTCX)
There are 2 members of the management team with an average tenure of 14.93 years: Scott Moses (2011), Todd Howard (2011). Management tenure is more important for actively managed funds than passive index funds.
The fund has 4 primary benchmarks: JPM EMBI Global TR USD index with a weighting of 100%, JPM GBI-EM Global Diversified TR USD index with a weighting of 30%, JPM CEMBI Broad Diversified TR USD index with a weighting of 35% and JPM EMBI Global TR USD index with a weighting of 35%. Transamerica Emerging Markets Debt C has 227 securities in its portfolio. The top 10 holdings constitute 14.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Transamerica Emerging Markets Debt C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Transamerica Emerging Markets Debt C has 92.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.8% (2.0% domestic bond, 92.8% foreign bond and 0.2% convertible bond). Transamerica Emerging Markets Debt C has 4.9% of the portfolio in cash.
Assets Under Management
The fund has $949 million in total assets, which is below the $325 million average for the Emerging Markets Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EMTCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Transamerica Emerging Markets Debt C expense ratio is high compared to funds in the Emerging Markets Bond category. Transamerica Emerging Markets Debt C has an expense ratio of 1.93%, which is 91% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Transamerica Emerging Markets Debt C has a portfolio turnover rate of 199%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 83% for the Emerging Markets Bond category.
Recently, in the month of July 2026, Transamerica Emerging Markets Debt C returned -0.6%, which earned it a grade of B, as the Emerging Markets Bond category had an average return of -0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Transamerica Emerging Markets Debt C has a trailing yield of 4.83%, which is below the 5.99% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Transamerica Emerging Markets Debt C Grades
Year to date, the fund has returned 4.0%, 1.5 percentage points better than the category, which translates into a grade of A. The fund has returned 10.9% over the past year (grade of A), 8.0% over the past three years (grade of D) and 2.5% per year over the past five years (grade of C) and 3.1% per year over the past 10 years (grade of D).
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EMTCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EMTCX Return (NAV) | -0.6% | 1.4% | 10.9% | 8.0% | 2.5% | 3.1% |
| EMTCX Grade | B | A | A | D | C | D |
| +/- Category | 0.3% | 0.8% | 1.9% | -1.1% | -0.3% | -0.5% |
| Emerging Markets Bond Avg | -0.9% | 0.6% | 9.0% | 9.1% | 2.8% | 3.6% |
| EMTCX Tax Cost Ratio | na | na | 2.0% | 2.0% | 1.7% | 1.4% |
EMTCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EMTCX Return (NAV) | 4.0% | 13.4% | 3.6% | 12.0% | -14.6% | -5.0% | 5.9% | 12.4% | -7.8% | 11.5% | 11.9% |
| EMTCX Grade | A | D | F | C | C | F | C | D | F | C | C |
| +/- Category | 1.5% | -0.4% | -2.8% | 0.4% | 0.3% | -2.1% | 0.5% | -0.7% | -2.4% | 0.3% | 0.0% |
| Emerging Markets Bond Avg | 2.5% | 13.8% | 6.4% | 11.6% | -14.9% | -2.9% | 5.5% | 13.1% | -5.4% | 11.2% | 11.9% |
| Risk Measures | |
| Standard Deviation: | 6.5% |
| Total Risk Index: | 0.53 - Below Average |
| Category Risk Index: | 1.03 - Below Average |
| Category Risk Grade: | B (37% Rank) |
| Beta: | 0.94 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.8% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $254 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 199% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.9 years | |||
| Average Tenure: 14.9 years | |||
| Managers (Year): Moses Scott (2011), Howard Todd (2011) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 227 |
| % in Top 10 Holdings: | 14.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 92.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 2.0% |
| Foreign Bond: | 92.8% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | 4.9% |
Purchase Information
| Fund Family: | Transamerica |
| Phone Number: | 888-233-4339 |
| Website: | www.transamericafunds.com |
| Status: | Open |
| Inception Date: | August 31, 2011 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.93% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | Transamerica Emerging Markets Debt I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
