BPYPM vs. EMLC

Last updated Jun 24, 2026

BPYPM (Brookfield Property Preferred L.P.) is a stock, while EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) is Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Over the past 3 years, BPYPM returned 14.27%/yr vs 6.31%/yr for EMLC. At a 0.25 correlation, their price movements are largely independent.

Performance

BPYPM vs. EMLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brookfield Property Preferred L.P. (BPYPM) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BPYPM achieves a 10.08% return, which is significantly higher than EMLC's 0.96% return.

BPYPM

• 1D: -0.61%
• 1M: -3.63%
• YTD: 10.08%
• 6M: 9.02%
• 1Y: 17.75%
• 3Y*: 14.27%
• 5Y*: —
• 10Y*: —

EMLC

• 1D: -0.59%
• 1M: 0.82%
• YTD: 0.96%
• 6M: 1.15%
• 1Y: 8.66%
• 3Y*: 6.31%
• 5Y*: 1.57%
• 10Y*: 2.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BPYPM vs. EMLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BPYPM Brookfield Property Preferred L.P.	10.08%	11.40%	37.58%	-2.75%	-41.30%	8.58%
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	0.96%	18.81%	-2.97%	11.18%	-10.58%	-5.15%

Correlation

The correlation between BPYPM and EMLC is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 27, 2021	0.25

The correlation between BPYPM and EMLC shifts across timeframes, from 0.10 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BPYPM vs. EMLC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BPYPM

BPYPM Risk / Return Rank: 72
BPYPM Sharpe Ratio Rank: 70
BPYPM Sortino Ratio Rank: 68
BPYPM Omega Ratio Rank: 69
BPYPM Calmar Ratio Rank: 77
BPYPM Martin Ratio Rank: 75

EMLC

EMLC Risk / Return Rank: 33
EMLC Sharpe Ratio Rank: 35
EMLC Sortino Ratio Rank: 34
EMLC Omega Ratio Rank: 36
EMLC Calmar Ratio Rank: 29
EMLC Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BPYPM vs. EMLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brookfield Property Preferred L.P. (BPYPM) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BPYPM	EMLC	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.21	-0.31
Sortino ratio: Return per unit of downside risk	1.55	1.72	-0.17
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	2.15	1.40	+0.74
Martin ratio: Return relative to average drawdown	4.70	4.64	+0.06

BPYPM vs. EMLC - Sharpe Ratio Comparison

The current BPYPM Sharpe Ratio is 0.90, which is comparable to the EMLC Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of BPYPM and EMLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BPYPM vs. EMLC - Drawdown Comparison

The maximum BPYPM drawdown since its inception was -47.92%, which is greater than EMLC's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for BPYPM and EMLC.

Drawdown Indicators

	BPYPM	EMLC	Difference
Max Drawdown Largest peak-to-trough decline	-47.92%	-32.43%	-15.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-6.19%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-26.21%	-9.15%	-17.06%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.47%	—
Current Drawdown Current decline from peak	-4.57%	-4.25%	-0.32%
Average Drawdown Average peak-to-trough decline	-20.87%	-14.33%	-6.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	1.87%	+1.92%

Volatility

BPYPM vs. EMLC - Volatility Comparison

Brookfield Property Preferred L.P. (BPYPM) has a higher volatility of 4.17% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.36%. This indicates that BPYPM's price experiences larger fluctuations and is considered to be riskier than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPYPM	EMLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	2.36%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	6.30%	+6.77%
Volatility (1Y) Calculated over the trailing 1-year period	19.81%	7.17%	+12.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.05%	9.14%	+14.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	9.97%	+14.08%

Dividends

BPYPM vs. EMLC - Dividend Comparison

BPYPM's dividend yield for the trailing twelve months is around 9.60%, more than EMLC's 6.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BPYPM Brookfield Property Preferred L.P.	9.60%	10.08%	10.15%	12.57%	11.03%	2.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	6.19%	5.91%	6.55%	5.97%	5.54%	5.25%	4.90%	6.25%	6.50%	5.34%	5.32%	6.25%

Frequently Asked Questions

Can I hold both BPYPM and EMLC in my portfolio?

BPYPM and EMLC have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BPYPM or EMLC?

BPYPM has higher volatility (4.17%) compared to EMLC (2.36%). In terms of maximum drawdown, BPYPM dropped -47.92% vs EMLC's -32.43%.

Which has better risk-adjusted returns?

EMLC currently has the higher Sharpe Ratio (1.21 vs 0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.