EMLAX is a mutual fund that focuses on investing in emerging market debt securities denominated in local currencies. This fund, managed by MFS Investment Management, aims to provide investors with exposure to the potential growth and diversification opportunities of emerging markets while also managing currency risk. With a Class A share structure, this fund may have a front-end sales charge and a lower expense ratio compared to other share classes. EMLAX may be a suitable option for investors looking to add emerging market debt to their portfolio.