Fund Evaluator:
TCW Emerging Markets Income N (TGINX)
Follow This Fund
Best Performing in Emerging Markets Bond Over the Last Year
| 18.7% | American Beacon DevelopingWldIncFd-InvCl (AGEPX) |
| 14.9% | Artisan Emerging Markets Debt Opp Inv (APFOX) |
| 13.9% | Fidelity Advisor New Markets Income Z (FGBMX) |
| 13.8% | Fidelity New Markets Income (FNMIX) |
| 13.7% | TCW Emerging Markets Income N (TGINX) |
Fund Details
TCW Emerging Markets Income N Overview
TCW Emerging Markets Income N (TGINX) is an actively managed Taxable Bond Emerging Markets Bond fund. TCW launched the fund in 2004.
The investment seeks high total return from current income and capital appreciation. Under normal circumstances, the fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in debt securities issued or guaranteed by companies, financial institutions and government entities in Emerging Market Countries. It generally invests in at least four Emerging Market Countries.
About TCW Emerging Markets Income N (TGINX)
There are 3 members of the management team with an average tenure of 6.96 years: Christopher Hays (2024), Jae Lee (2024), David Robbins (2009). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: JPM EMBI Global Diversified TR USD index with a weighting of 100%. TCW Emerging Markets Income N has 291 securities in its portfolio. The top 10 holdings constitute 15.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
TCW Emerging Markets Income N is part of the Fixed Income global asset class and is within the Taxable Bond fund group. TCW Emerging Markets Income N has 88.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. 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 88.4% (0.0% domestic bond, 88.4% foreign bond and 0.0% convertible bond). TCW Emerging Markets Income N has 8.5% of the portfolio in cash.
Assets Under Management
The fund has $438 million in total assets, which is above 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.
TGINX 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 TCW Emerging Markets Income N expense ratio is high compared to funds in the Emerging Markets Bond category. TCW Emerging Markets Income N has an expense ratio of 0.95%, which is 6% lower than its category average, making the fund expense ratio grade a C. 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. TCW Emerging Markets Income N has a portfolio turnover rate of 66%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 82% for the Emerging Markets Bond category.
Recently, in the month of June 2026, TCW Emerging Markets Income N returned 1.2%, which earned it a grade of A, as the Emerging Markets Bond category had an average return of 0.7%. 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.
TCW Emerging Markets Income N has a trailing yield of 6.10%, which is above the 5.95% category average. The fund normally distributes its income monthly 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.
TCW Emerging Markets Income N Grades
Year to date, the fund has returned 5.0%, 1.6 percentage points better than the category, which translates into a grade of A. The fund has returned 13.7% over the past year (grade of A), 11.6% over the past three years (grade of A) and 2.7% per year over the past five years (grade of C) and 3.8% per year over the past 10 years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about TCW Emerging Markets Income N, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
TGINX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TGINX Return (NAV) | 1.2% | 6.0% | 13.7% | 11.6% | 2.7% | 3.8% |
| TGINX Grade | A | A | A | A | C | C |
| +/- Category | 0.5% | 1.7% | 2.7% | 1.5% | -0.3% | -0.0% |
| Emerging Markets Bond Avg | 0.7% | 4.4% | 11.0% | 10.1% | 3.0% | 3.8% |
| TGINX Tax Cost Ratio | na | na | 2.5% | 2.5% | 2.2% | 2.1% |
TGINX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TGINX Return (NAV) | 5.0% | 14.4% | 7.2% | 12.0% | -17.7% | -5.1% | 5.1% | 15.5% | -6.4% | 11.1% | 14.0% |
| TGINX Grade | A | C | B | C | F | F | D | A | D | C | B |
| +/- Category | 1.6% | 0.6% | 0.9% | 0.4% | -2.9% | -2.2% | -0.4% | 2.4% | -1.0% | -0.1% | 2.1% |
| Emerging Markets Bond Avg | 3.4% | 13.8% | 6.3% | 11.6% | -14.8% | -2.9% | 5.5% | 13.1% | -5.4% | 11.2% | 11.9% |
| Risk Measures | |
| Standard Deviation: | 7.0% |
| Total Risk Index: | 0.58 - Below Average |
| Category Risk Index: | 1.12 - High |
| Category Risk Grade: | F (85% Rank) |
| Beta: | 1.01 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 6.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4219 Mil |
| Fund Total Assets: | $ 438 Mil |
| Share Class Type: | N |
| Portfolio Turnover: | 67% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 16.6 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Robbins David (2009), Hays Christopher (2024), Lee Jae (2024) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 291 |
| % in Top 10 Holdings: | 15.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 88.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 88.4% |
| Convertible Bond: | 0.0% |
| Other: | 3.2% |
| Cash: | 8.5% |
Purchase Information
| Fund Family: | TCW |
| Phone Number: | 800-248-4486 |
| Website: | www.tcw.com |
| Status: | Open |
| Inception Date: | February 27, 2004 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | TCW Emerging Markets Income I |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 250 |
