EBND vs. VOO
EBND (SPDR Bloomberg Barclays Emerging Markets Local Bond ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - EBND is a Emerging Markets Bonds fund tracking the Bloomberg Emerging Market Local Currency Government Diversified, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EBND returned 1.82%/yr vs 15.50%/yr for VOO. At a 0.44 correlation, their price movements are largely independent. EBND charges 0.30%/yr vs 0.03%/yr for VOO.
Performance
EBND vs. VOO - 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 VOO's 9.08% return. Over the past 10 years, EBND has underperformed VOO with an annualized return of 1.82%, while VOO has yielded a comparatively higher 15.50% annualized return.
EBND
- 1D
- 0.34%
- 1M
- 0.64%
- YTD
- 0.44%
- 6M
- 1.64%
- 1Y
- 5.43%
- 3Y*
- 5.36%
- 5Y*
- 0.21%
- 10Y*
- 1.82%
VOO
- 1D
- 0.55%
- 1M
- -0.07%
- YTD
- 9.08%
- 6M
- 9.44%
- 1Y
- 24.36%
- 3Y*
- 20.95%
- 5Y*
- 13.43%
- 10Y*
- 15.50%
EBND vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 0.44% | 15.83% | -2.70% | 9.02% | -11.84% | -9.66% | 4.49% | 10.40% | -6.52% | 13.93% |
VOO Vanguard S&P 500 ETF | 9.08% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between EBND and VOO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2011 | 0.44 |
The correlation between EBND and VOO shifts across timeframes, from 0.44 (10 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EBND vs. VOO — Risk / Return Rank
EBND
VOO
EBND vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.36 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 2.75 | -1.93 |
| Martin ratioReturn relative to average drawdown | 2.63 | 12.42 | -9.79 |
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Drawdowns
EBND vs. VOO - Drawdown Comparison
The maximum EBND drawdown since its inception was -29.51%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for EBND and VOO.
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Drawdown Indicators
| EBND | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.51% | -33.99% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -8.90% | +2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -18.69% | +9.44% |
Max Drawdown (5Y)Largest decline over 5 years | -27.00% | -24.52% | -2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -29.50% | -33.99% | +4.49% |
Current DrawdownCurrent decline from peak | -2.59% | -2.34% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -10.85% | -3.68% | -7.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 1.97% | +0.10% |
Volatility
EBND vs. VOO - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) is 2.61%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.34%. This indicates that EBND experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EBND | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 4.34% | -1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 9.58% | -3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.11% | 12.27% | -5.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.00% | 16.88% | -7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.19% | 18.03% | -8.84% |
EBND vs. VOO - Expense Ratio Comparison
EBND has a 0.30% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
EBND vs. VOO - Dividend Comparison
EBND's dividend yield for the trailing twelve months is around 5.79%, more than VOO's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
EBND and VOO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.34%) compared to EBND (2.61%). In terms of maximum drawdown, EBND dropped -29.51% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.50% vs 1.82% for EBND. On fees, VOO is cheaper at 0.03% per year. On volatility, EBND has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.50% return vs 1.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO 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 1.05% for VOO.
EBND is categorized as Emerging Markets Bonds, while VOO is S&P 500. EBND tracks Bloomberg Emerging Market Local Currency Government Diversified, while VOO tracks S&P 500 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for EBND and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (1.99 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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