CRAK vs. EMLC
CRAK (VanEck Oil Refiners ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 10 years, CRAK returned 13.50%/yr vs 2.28%/yr for EMLC. At a 0.42 correlation, their price movements are largely independent. CRAK charges 0.62%/yr vs 0.30%/yr for EMLC.
Performance
CRAK vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, CRAK achieves a 29.26% return, which is significantly higher than EMLC's 1.40% return. Over the past 10 years, CRAK has outperformed EMLC with an annualized return of 13.50%, while EMLC has yielded a comparatively lower 2.28% annualized return.
CRAK
- 1D
- 0.01%
- 1M
- -1.07%
- YTD
- 29.26%
- 6M
- 26.17%
- 1Y
- 55.23%
- 3Y*
- 20.46%
- 5Y*
- 13.12%
- 10Y*
- 13.50%
EMLC
- 1D
- 0.28%
- 1M
- 0.74%
- YTD
- 1.40%
- 6M
- 2.50%
- 1Y
- 9.22%
- 3Y*
- 6.63%
- 5Y*
- 1.36%
- 10Y*
- 2.28%
CRAK vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 29.26% | 39.11% | -15.05% | 13.73% | 19.10% | 10.90% | -11.22% | 9.15% | -10.46% | 49.86% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.40% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between CRAK and EMLC is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.42 |
Over the past year, the correlation between CRAK and EMLC has dropped to 0.17 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
CRAK vs. EMLC — Risk / Return Rank
CRAK
EMLC
CRAK vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) 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.
| CRAK | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.24 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 6.49 | 1.42 | +5.07 |
| Martin ratioReturn relative to average drawdown | 17.24 | 4.75 | +12.49 |
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Drawdowns
CRAK vs. EMLC - Drawdown Comparison
The maximum CRAK drawdown since its inception was -58.80%, which is greater than EMLC's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for CRAK and EMLC.
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Drawdown Indicators
| CRAK | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -32.43% | -26.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -6.19% | -2.38% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -9.15% | -26.46% |
Max Drawdown (5Y)Largest decline over 5 years | -35.61% | -24.58% | -11.03% |
Max Drawdown (10Y)Largest decline over 10 years | -58.80% | -26.47% | -32.33% |
Current DrawdownCurrent decline from peak | -6.68% | -3.83% | -2.85% |
Average DrawdownAverage peak-to-trough decline | -12.48% | -14.35% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 1.86% | +1.36% |
Volatility
CRAK vs. EMLC - Volatility Comparison
VanEck Oil Refiners ETF (CRAK) has a higher volatility of 5.81% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.44%. This indicates that CRAK'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.
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Volatility by Period
| CRAK | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 2.44% | +3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 14.72% | 6.17% | +8.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.66% | 7.06% | +11.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.67% | 9.14% | +11.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.17% | 10.04% | +12.13% |
CRAK vs. EMLC - Expense Ratio Comparison
CRAK has a 0.62% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
CRAK vs. EMLC - Dividend Comparison
CRAK's dividend yield for the trailing twelve months is around 1.56%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 1.56% | 2.02% | 5.60% | 3.65% | 3.08% | 2.40% | 2.64% | 1.49% | 2.42% | 1.66% | 3.42% | 0.47% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 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
CRAK and EMLC have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CRAK has higher volatility (5.81%) compared to EMLC (2.44%). In terms of maximum drawdown, CRAK dropped -58.80% vs EMLC's -32.43%.
On 10-year performance, CRAK leads with 13.50% vs 2.28% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, EMLC has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CRAK has performed better with a 13.50% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMLC is cheaper with a 0.30% expense ratio, compared with 0.62% for CRAK.
EMLC has the higher dividend yield at 6.16%, compared with 1.56% for CRAK.
CRAK is categorized as Energy Equities, while EMLC is Emerging Markets Bonds. CRAK tracks MVIS Global Oil Refiners Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Their fees differ too: 0.62% for CRAK and 0.30% for EMLC.
CRAK currently has the higher Sharpe Ratio (2.98 vs 1.25), 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.
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