CMF vs. EMLC
Compare and contrast key facts about iShares California Muni Bond ETF (CMF) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC).
CMF and EMLC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMF is a passively managed fund by iShares that tracks the performance of the S&P California AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. EMLC is a passively managed fund by VanEck that tracks the performance of the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. It was launched on Jul 22, 2010. Both CMF and EMLC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMF or EMLC.
Key characteristics
| CMF | EMLC | |
|---|---|---|
| YTD Return | -0.82% | -2.38% |
| 1Y Return | 2.17% | 2.33% |
| 3Y Return (Ann) | -1.08% | -2.53% |
| 5Y Return (Ann) | 1.00% | -0.60% |
| 10Y Return (Ann) | 2.06% | -1.19% |
| Sharpe Ratio | 0.54 | 0.29 |
| Daily Std Dev | 4.15% | 8.41% |
| Max Drawdown | -16.45% | -32.33% |
| Current Drawdown | -4.27% | -19.58% |
Correlation
The correlation between CMF and EMLC is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CMF vs. EMLC - Performance Comparison
In the year-to-date period, CMF achieves a -0.82% return, which is significantly higher than EMLC's -2.38% return. Over the past 10 years, CMF has outperformed EMLC with an annualized return of 2.06%, while EMLC has yielded a comparatively lower -1.19% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CMF vs. EMLC - Expense Ratio Comparison
CMF has a 0.25% expense ratio, which is lower than EMLC's 0.30% expense ratio.
Risk-Adjusted Performance
CMF vs. EMLC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) 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.
Dividends
CMF vs. EMLC - Dividend Comparison
CMF's dividend yield for the trailing twelve months is around 2.50%, less than EMLC's 6.30% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMF iShares California Muni Bond ETF | 2.50% | 2.29% | 1.74% | 1.58% | 1.80% | 2.03% | 2.17% | 2.09% | 2.21% | 2.55% | 2.80% | 3.12% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.30% | 5.96% | 5.68% | 5.25% | 4.88% | 6.26% | 6.50% | 5.34% | 5.32% | 6.25% | 5.98% | 5.18% |
Drawdowns
CMF vs. EMLC - Drawdown Comparison
The maximum CMF drawdown since its inception was -16.45%, smaller than the maximum EMLC drawdown of -32.33%. Use the drawdown chart below to compare losses from any high point for CMF and EMLC. For additional features, visit the drawdowns tool.
Volatility
CMF vs. EMLC - Volatility Comparison
The current volatility for iShares California Muni Bond ETF (CMF) is 1.03%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.93%. This indicates that CMF experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.