EBND vs. SCMB
EBND (SPDR Bloomberg Barclays Emerging Markets Local Bond ETF) and SCMB (Schwab Municipal Bond ETF) are both exchange-traded funds - EBND is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Market Local Currency Government Diversified, while SCMB is a Municipal Bonds fund tracking the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EBND returned 5.36%/yr vs 3.26%/yr for SCMB. At a 0.45 correlation, their price movements are largely independent. EBND charges 0.30%/yr vs 0.03%/yr for SCMB.
Performance
EBND vs. SCMB - Performance Comparison
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Returns By Period
In the year-to-date period, EBND achieves a 0.44% return, which is significantly lower than SCMB's 1.07% return.
EBND
- 1D
- 0.34%
- 1M
- 1.76%
- YTD
- 0.44%
- 6M
- 1.64%
- 1Y
- 6.09%
- 3Y*
- 5.36%
- 5Y*
- 0.21%
- 10Y*
- 1.82%
SCMB
- 1D
- 0.00%
- 1M
- 1.12%
- YTD
- 1.07%
- 6M
- 1.59%
- 1Y
- 6.26%
- 3Y*
- 3.26%
- 5Y*
- —
- 10Y*
- —
EBND vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 0.44% | 15.83% | -2.70% | 9.02% | 10.39% |
SCMB Schwab Municipal Bond ETF | 1.07% | 3.78% | 0.91% | 5.86% | 2.88% |
Correlation
The correlation between EBND and SCMB is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.45 |
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Return for Risk
EBND vs. SCMB — Risk / Return Rank
EBND
SCMB
EBND vs. SCMB - 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 Schwab Municipal Bond ETF (SCMB). 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.
| EBND | SCMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.44 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 2.08 | -1.26 |
| Martin ratioReturn relative to average drawdown | 2.63 | 6.87 | -4.24 |
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Drawdowns
EBND vs. SCMB - Drawdown Comparison
The maximum EBND drawdown since its inception was -29.51%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for EBND and SCMB.
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Drawdown Indicators
| EBND | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.51% | -6.13% | -23.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -2.92% | -3.71% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -5.57% | -3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.50% | — | — |
Current DrawdownCurrent decline from peak | -2.59% | -0.87% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -1.32% | -9.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.88% | +1.19% |
Volatility
EBND vs. SCMB - Volatility Comparison
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) has a higher volatility of 2.61% compared to Schwab Municipal Bond ETF (SCMB) at 0.96%. This indicates that EBND's price experiences larger fluctuations and is considered to be riskier than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EBND | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 0.96% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 2.16% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 2.89% | +4.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.00% | 4.15% | +4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 4.15% | +5.04% |
EBND vs. SCMB - Expense Ratio Comparison
EBND has a 0.30% expense ratio, which is higher than SCMB's 0.03% expense ratio.
Dividends
EBND vs. SCMB - Dividend Comparison
EBND's dividend yield for the trailing twelve months is around 5.79%, more than SCMB's 3.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 5.79% | 5.54% | 5.89% | 5.26% | 4.75% | 3.83% | 3.67% | 4.68% | 4.70% | 2.00% |
SCMB Schwab Municipal Bond ETF | 3.54% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EBND and SCMB have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EBND has higher volatility (2.61%) compared to SCMB (0.96%). In terms of maximum drawdown, EBND dropped -29.51% vs SCMB's -6.13%.
On 3-year performance, EBND leads with 5.36% vs 3.26% for SCMB. On fees, SCMB is cheaper at 0.03% per year. On volatility, SCMB has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EBND has performed better with a 5.36% return vs 3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCMB is cheaper with a 0.03% expense ratio, compared with 0.30% for EBND.
EBND has the higher dividend yield at 5.79%, compared with 3.54% for SCMB.
EBND is categorized as Emerging Markets Bonds, while SCMB is Municipal Bonds. EBND tracks Bloomberg Emerging Market Local Currency Government Diversified, while SCMB tracks ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.30% for EBND and 0.03% for SCMB.
SCMB currently has the higher Sharpe Ratio (2.11 vs 0.77), 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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