EBND vs. FEMB

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) and First Trust Emerging Markets Local Currency Bond ETF (FEMB).

EBND and FEMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EBND is a passively managed fund by State Street that tracks the performance of the Bloomberg Emerging Market Local Currency Government Diversified. It was launched on Feb 23, 2011. FEMB is an actively managed fund by First Trust. It was launched on Nov 4, 2014.

Performance

EBND vs. FEMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) and First Trust Emerging Markets Local Currency Bond ETF (FEMB). The values are adjusted to include any dividend payments, if applicable.

EBND vs. FEMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF	-2.55%	15.83%	-2.70%	9.02%	-11.84%	-9.66%	4.49%	10.40%	-6.52%	13.93%
FEMB First Trust Emerging Markets Local Currency Bond ETF	-2.12%	21.77%	-5.61%	17.12%	-10.50%	-13.40%	3.16%	11.52%	-7.19%	11.92%

Returns By Period

In the year-to-date period, EBND achieves a -2.55% return, which is significantly lower than FEMB's -2.12% return. Over the past 10 years, EBND has underperformed FEMB with an annualized return of 1.42%, while FEMB has yielded a comparatively higher 1.94% annualized return.

EBND

• 1D: 1.23%
• 1M: -5.27%
• YTD: -2.55%
• 6M: -0.61%
• 1Y: 8.84%
• 3Y*: 4.78%
• 5Y*: 0.35%
• 10Y*: 1.42%

FEMB

• 1D: 1.15%
• 1M: -6.18%
• YTD: -2.12%
• 6M: 0.86%
• 1Y: 13.41%
• 3Y*: 7.19%
• 5Y*: 2.14%
• 10Y*: 1.94%

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

EBND vs. FEMB - Expense Ratio Comparison

EBND has a 0.30% expense ratio, which is lower than FEMB's 0.85% expense ratio.

FEMB

First Trust Emerging Markets Local Currency Bond ETF

EBND

SPDR Bloomberg Barclays Emerging Markets Local Bond ETF

Return for Risk

EBND vs. FEMB — Risk / Return Rank

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

EBND

EBND Risk / Return Rank: 67
EBND Sharpe Ratio Rank: 72
EBND Sortino Ratio Rank: 73
EBND Omega Ratio Rank: 70
EBND Calmar Ratio Rank: 57
EBND Martin Ratio Rank: 64

FEMB

FEMB Risk / Return Rank: 77
FEMB Sharpe Ratio Rank: 81
FEMB Sortino Ratio Rank: 81
FEMB Omega Ratio Rank: 77
FEMB Calmar Ratio Rank: 72
FEMB Martin Ratio Rank: 74

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.

EBND vs. FEMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) and First Trust Emerging Markets Local Currency Bond ETF (FEMB). 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.

	EBND	FEMB	Difference
Sharpe ratio Return per unit of total volatility	1.24	1.51	-0.27
Sortino ratio Return per unit of downside risk	1.78	2.07	-0.29
Omega ratio Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio Return relative to maximum drawdown	1.38	1.83	-0.45
Martin ratio Return relative to average drawdown	6.16	7.66	-1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBND vs. FEMB - Sharpe Ratio Comparison

The current EBND Sharpe Ratio is 1.24, which is comparable to the FEMB Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of EBND and FEMB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EBND	FEMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.51	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.21	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.17	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.07	+0.02

Correlation

The correlation between EBND and FEMB is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EBND vs. FEMB - Dividend Comparison

EBND's dividend yield for the trailing twelve months is around 5.80%, less than FEMB's 6.00% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF	5.80%	5.54%	5.89%	5.26%	4.75%	3.83%	3.67%	4.68%	4.70%	2.00%	0.00%	0.00%
FEMB First Trust Emerging Markets Local Currency Bond ETF	6.00%	5.67%	6.09%	5.15%	6.35%	6.12%	5.29%	5.40%	5.86%	6.38%	5.83%	4.89%

Drawdowns

EBND vs. FEMB - Drawdown Comparison

The maximum EBND drawdown since its inception was -29.51%, roughly equal to the maximum FEMB drawdown of -30.44%. Use the drawdown chart below to compare losses from any high point for EBND and FEMB.

Drawdown Indicators

	EBND	FEMB	Difference
Max Drawdown Largest peak-to-trough decline	-29.51%	-30.44%	+0.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-7.58%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-27.85%	+0.28%
Max Drawdown (10Y) Largest decline over 10 years	-29.50%	-30.44%	+0.94%
Current Drawdown Current decline from peak	-5.49%	-6.52%	+1.03%
Average Drawdown Average peak-to-trough decline	-10.96%	-10.03%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	1.81%	-0.32%

Volatility

EBND vs. FEMB - Volatility Comparison

SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) and First Trust Emerging Markets Local Currency Bond ETF (FEMB) have volatilities of 3.89% and 3.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBND	FEMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.81%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	4.82%	5.46%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	7.16%	8.94%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.90%	10.21%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.18%	11.22%	-2.04%