Morningstar

Ashmore Emerging Markets Local Currency Bond Fund Class A ELBAX

Morningstar Medalist Rating
Medalist Rating as of | See Ashmore Investment Hub
  • NAV / 1-Day Return 6.56  /  −0.76 %
  • Total Assets 9.8M
  • Adj. Expense Ratio
    1.050%
  • Expense Ratio 1.050%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category Emerging-Markets Local-Currency Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 6.94%
  • Effective Duration —

USD | NAV as of Jun 06, 2026 | 1-Day Return as of Jun 06, 2026, 4:50 AM GMT+0

Morningstar’s Analysis ELBAX

Will ELBAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ELBAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ELBAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ELBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A volatile strategy without a clear edge.

Associate Analyst Joe Bullard

Joe Bullard

Associate Analyst

Summary

Ashmore Emerging Markets Local Currency Bond is backed by an experienced team of investors in local-currency emerging markets, but the strategy's volatile performance profile has not led to consistent outperformance relative to emerging-market local-currency bond Morningstar Category peers.

by Joe Bullard
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings ELBAX

More ELBAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 24.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

United States Treasury Bills 0%

7.72 720,642
Government

RECV OIS_CCP COP 8.42% Receive

6.36 594,232
Government

Secretaria Do Tesouro Nacional 0%

6.05 564,418
Government

CURRENCY CONTRACT - CNH Purchased

6.02 562,285
Derivative

CURRENCY CONTRACT - PLN Purchased

5.98 558,183
Derivative

PAYB OIS_CCP BRL 13.26% Receive

5.29 494,042
Government

CURRENCY CONTRACT - MYR Purchased

4.85 453,082
Derivative

CURRENCY CONTRACT - USD Purchased

3.32 309,800
Derivative

Mexico (United Mexican States) 4%

3.14 293,436
Government

CURRENCY CONTRACT - TRY Purchased

3.02 281,585
Derivative

Sponsor Center