ELD vs. CMF
Compare and contrast key facts about WisdomTree Emerging Markets Local Debt Fund (ELD) and iShares California Muni Bond ETF (CMF).
ELD and CMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ELD is an actively managed fund by WisdomTree. It was launched on Aug 9, 2010. 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ELD or CMF.
Key characteristics
| ELD | CMF | |
|---|---|---|
| YTD Return | -2.22% | 1.31% |
| 1Y Return | 4.44% | 6.29% |
| 3Y Return (Ann) | -0.24% | -0.49% |
| 5Y Return (Ann) | -0.62% | 0.80% |
| 10Y Return (Ann) | -0.04% | 1.97% |
| Sharpe Ratio | 0.38 | 1.69 |
| Sortino Ratio | 0.63 | 2.42 |
| Omega Ratio | 1.08 | 1.33 |
| Calmar Ratio | 0.23 | 0.81 |
| Martin Ratio | 1.75 | 7.36 |
| Ulcer Index | 2.45% | 0.88% |
| Daily Std Dev | 11.14% | 3.84% |
| Max Drawdown | -31.92% | -16.45% |
| Current Drawdown | -14.94% | -2.22% |
Correlation
The correlation between ELD and CMF is 0.11, 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
ELD vs. CMF - Performance Comparison
In the year-to-date period, ELD achieves a -2.22% return, which is significantly lower than CMF's 1.31% return. Over the past 10 years, ELD has underperformed CMF with an annualized return of -0.04%, while CMF has yielded a comparatively higher 1.97% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ELD vs. CMF - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is higher than CMF's 0.25% expense ratio.
Risk-Adjusted Performance
ELD vs. CMF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and iShares California Muni Bond ETF (CMF). 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
ELD vs. CMF - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.52%, more than CMF's 2.74% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.52% | 4.85% | 5.29% | 4.99% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% | 4.33% | 3.90% |
CMF iShares California Muni Bond ETF | 2.74% | 2.28% | 1.74% | 1.58% | 1.80% | 2.03% | 2.17% | 2.09% | 2.21% | 2.55% | 2.80% | 3.11% |
Drawdowns
ELD vs. CMF - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, which is greater than CMF's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for ELD and CMF. For additional features, visit the drawdowns tool.
Volatility
ELD vs. CMF - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) has a higher volatility of 3.12% compared to iShares California Muni Bond ETF (CMF) at 2.05%. This indicates that ELD's price experiences larger fluctuations and is considered to be riskier than CMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.