# Portfolio overlap — EMBAX vs TGWIX Comparing **VanEck Emerging Markets Bond Fund** (2025-09-30) and **TCW Emerging Markets Local Currency Income Fund** (2026-01-31). - Shared positions: 11 - VanEck Emerging Markets Bond Fund covered by TCW Emerging Markets Local Currency Income Fund: 0.07815524323686739850016732389 - TCW Emerging Markets Local Currency Income Fund covered by VanEck Emerging Markets Bond Fund: 0.07815524323686739850016732389 ## VanEck Emerging Markets Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Invesco Treasury Portfolio, Institutional Class | 0.060552 | | | Urzad Rady Ministrow | 0.031014 | | | SOUTH AFRICA REPUBLIC OF 8.75% 02/28/2048 | 0.028396 | | | South Africa, Parliament of | 0.027812 | ✓ | | SAUDI INTERNATIONAL BOND /EUR/ REGD 144A P/P 3.37500000 | 0.027099 | | | MEXICAN BONOS MXN 8.0% 11-07-47 | 0.026286 | ✓ | | MEXICO UNITED MEXICAN STATES 7.75% 11/13/2042 | 0.023615 | ✓ | | TESORERIA PESOS | 0.021968 | ✓ | | REPUBLIC OF PHILIPPINES SR UNSECURED 01/36 6.25 | 0.021481 | | | Urzad Rady Ministrow | 0.021098 | | | MALAYSIA GOVT OF 3.828% 07/05/2034 | 0.021042 | | | Republic of Indonesia | 0.021004 | ✓ | | Congolese International Bond | 0.019315 | | | MALAYSIA GOVT | 0.019224 | | | Romanian Government International Bond | 0.018566 | | | Presidencia da Republica | 0.018521 | | | THAILAND GOVT | 0.017231 | | | Presidencia da Republica | 0.016497 | | | China Government Bond | 0.016460 | | | TITULOS DE TESORERIA 11.500000% 07/25/2046 | 0.015625 | | | Urad Vlady Ceske Republiky | 0.014800 | | | TURKIYE REP OF | 0.013880 | | | THAILAND GOVT | 0.013364 | ✓ | | Hungary Government Bond | 0.013223 | | | United Arab Emirates Government Bond | 0.012843 | | | Republic of Uganda Government Bonds | 0.012284 | | | MEXICO UNITED MEXICAN STATES 8% 07/31/2053 | 0.011888 | | | Presidencia de la Republica de Chile | 0.011744 | | | REPUBLIC OF ECUADOR ZERO COUPON 07/31/2030 | 0.011289 | | | CZECH REPUBLIC GOVERNMENT BOND CZK 4.9% 04-14-34 | 0.011241 | | | Ecopetrol SA | 0.010984 | | | REPUBLIC OF ECUADOR 6.900000% 07/31/2035 | 0.010961 | | | KOREA TRSY BD | 0.010745 | | | Egypt Government International Bonds | 0.009980 | | | REPUBLIC OF ARGENTINA SR UNSECURED 07/29 1 | 0.009907 | | | Republic of Cote d'Ivoire | 0.009757 | | | REPUBLIC OF GABO | 0.009694 | | | Frigorifico Concepcion SA | 0.009635 | | | Tunisian Republic | 0.009440 | | | THAILAND KINGDOM OF 1.585% 12/17/2035 | 0.009279 | | | Plurinational State of Bolivia | 0.009160 | | | REPUBLIC OF GABON 7.000000% 11/24/2031 | 0.009106 | | | SEPLAT Energy PLC | 0.008685 | | | Siam Commercial Bank PCL/Cayman Islands | 0.008673 | | | KOREA TRSY BD | 0.007904 | | | NWD Finance BVI Ltd | 0.007635 | | | Petroleos del Peru SA | 0.007543 | | | GEOPARK LTD REG S SR UNSEC 8.75% 01-31-30 | 0.007366 | | | Republic of Uganda Government Bonds | 0.007098 | ✓ | | Petroleos del Peru SA | 0.007086 | | ## TCW Emerging Markets Local Currency Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Presidencia da Republica | 0.067469 | | | TURKIYE GOVERNMENT BOND TRY 37.84% 07-14-27 | 0.043758 | | | Brazil Notas do Tesouro Nacional Serie B | 0.043117 | | | NIGERIA REPUBLIC 0% 03/17/2026 | 0.038160 | | | Republic of India | 0.033674 | | | CHINA PEOPLES REPUBLIC OF 2.57% 05/20/2054 | 0.032054 | | | CZECH REPUBLIC GOVERNMENT BOND CZK 3.5% 05-30-35 | 0.031177 | | | Republic of India | 0.029579 | | | Egypt Treasury Bills | 0.024566 | | | Urzad Rady Ministrow | 0.021658 | | | Nigeria OMO Bill | 0.021161 | | | MEXICO UNITED MEXICAN STATES 7.5% 05/26/2033 | 0.020486 | | | PERU REPUBLIC OF 6.85% 08/12/2035 144A REGS | 0.020179 | | | Republic of Indonesia | 0.019945 | ✓ | | MALAYSIA GOVT OF 4.762% 04/07/2037 | 0.019722 | | | SOUTH AFRICA REPUBLIC OF 8.875% 02/28/2035 | 0.019585 | | | Republic of Uganda Government Bonds | 0.019584 | ✓ | | Republic of India | 0.018780 | | | MEXICO UNITED MEXICAN STATES 7.75% 11/23/2034 | 0.018583 | | | MALAYSIA GOVT OF 4.893% 06/08/2038 | 0.017935 | | | THAILAND KINGDOM OF 3.45% 06/17/2043 | 0.017040 | | | MEXICO UNITED MEXICAN STATES 8.5% 11/18/2038 | 0.015941 | | | Urzad Rady Ministrow | 0.015822 | | | SOUTH AFRICA REPUBLIC OF 8.5% 01/31/2037 | 0.015372 | | | TURKIYE GOVERNMENT BOND TRY 36.0% 08-12-26 | 0.015236 | | | MALAYSIA GOVT | 0.015210 | ✓ | | Egypt Treasury Bills | 0.015106 | | | REPUBLIC OF POLAND GOVERNMENT BOND PLN 1.25% 10-25-30 | 0.014696 | | | Titulos de Tesoreria | 0.013793 | | | SOUTH AFRICA REPUBLIC OF 6.25% 03/31/2036 | 0.012763 | | | Sandor-Palota | 0.012628 | | | Republic of India | 0.011426 | | | South Africa, Parliament of | 0.011368 | ✓ | | Colombia Titulos de Tesoreria, Series B | 0.011066 | | | Indonesia Treasury Bond | 0.010804 | | | THAILAND KINGDOM OF 3.39% 06/17/2037 | 0.010209 | ✓ | | MEXICO UNITED MEXICAN STATES 10% 11/20/2036 | 0.010192 | | | Republic of Indonesia | 0.010067 | | | SOUTH AFRICA REPUBLIC OF 8.25% 03/31/2032 | 0.009994 | | | MALAYSIA GOVT OF 4.054% 04/18/2039 | 0.009820 | | | Czech Republic Government Bond | 0.009513 | | | Czech Republic Government Bonds | 0.009293 | | | THAILAND GOVT | 0.008862 | ✓ | | MALAYSIA GOVT | 0.008499 | | | Egypt Treasury Bills | 0.008491 | | | TITULOS DE TESORERIA 13.250000% 02/09/2033 | 0.007923 | | | Urad Vlady Ceske Republiky | 0.007796 | | | MEXICO UNITED MEXICAN STATES 7.75% 11/13/2042 | 0.007726 | ✓ | | MALAYSIA GOVT OF 3.582% 07/15/2032 | 0.007684 | | | Sandor-Palota | 0.007500 | | ## Sources - N-PORT (fund A) — accession `0001410368-25-028343` (as of 2025-09-30) - N-PORT (fund B) — accession `0001410368-26-033400` (as of 2026-01-31) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _