ELD vs. EMCB
ELD (WisdomTree Emerging Markets Local Debt Fund) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds from WisdomTree. Both are actively managed. Over the past 10 years, ELD returned 2.85%/yr vs 4.26%/yr for EMCB. At a 0.26 correlation, their price movements are largely independent. ELD charges 0.55%/yr vs 0.60%/yr for EMCB.
Performance
ELD vs. EMCB - Performance Comparison
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Returns By Period
In the year-to-date period, ELD achieves a 0.81% return, which is significantly lower than EMCB's 2.29% return. Over the past 10 years, ELD has underperformed EMCB with an annualized return of 2.85%, while EMCB has yielded a comparatively higher 4.26% annualized return.
ELD
- 1D
- -0.97%
- 1M
- 0.80%
- YTD
- 0.81%
- 6M
- 1.76%
- 1Y
- 10.18%
- 3Y*
- 6.94%
- 5Y*
- 2.77%
- 10Y*
- 2.85%
EMCB
- 1D
- -0.13%
- 1M
- 1.18%
- YTD
- 2.29%
- 6M
- 2.12%
- 1Y
- 6.91%
- 3Y*
- 7.78%
- 5Y*
- 2.18%
- 10Y*
- 4.26%
ELD vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 0.81% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 2.29% | 8.19% | 7.11% | 8.76% | -12.98% | -0.62% | 8.60% | 13.43% | -3.07% | 9.47% |
Correlation
The correlation between ELD and EMCB is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2012 | 0.26 |
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Return for Risk
ELD vs. EMCB — Risk / Return Rank
ELD
EMCB
ELD vs. EMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.
| ELD | EMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.35 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.26 | -0.83 |
| Martin ratioReturn relative to average drawdown | 4.85 | 7.98 | -3.13 |
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Drawdowns
ELD vs. EMCB - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, which is greater than EMCB's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for ELD and EMCB.
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Drawdown Indicators
| ELD | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.92% | -22.81% | -9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -3.07% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -4.20% | -6.69% |
Max Drawdown (5Y)Largest decline over 5 years | -22.06% | -21.50% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -22.81% | -2.34% |
Current DrawdownCurrent decline from peak | -2.68% | -0.39% | -2.29% |
Average DrawdownAverage peak-to-trough decline | -13.28% | -4.22% | -9.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 0.87% | +1.23% |
Volatility
ELD vs. EMCB - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) has a higher volatility of 2.70% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.47%. This indicates that ELD's price experiences larger fluctuations and is considered to be riskier than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELD | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 1.47% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 3.05% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.56% | 3.79% | +4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.96% | 6.93% | +4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 8.48% | +2.78% |
ELD vs. EMCB - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is lower than EMCB's 0.60% expense ratio.
Dividends
ELD vs. EMCB - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.82%, more than EMCB's 5.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.82% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.34% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
Frequently Asked Questions
ELD and EMCB have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.70%) compared to EMCB (1.47%). In terms of maximum drawdown, ELD dropped -31.92% vs EMCB's -22.81%.
On 10-year performance, EMCB leads with 4.26% vs 2.85% for ELD. On fees, ELD is cheaper at 0.55% per year. On volatility, EMCB has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMCB has performed better with a 4.26% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ELD is cheaper with a 0.55% expense ratio, compared with 0.60% for EMCB.
ELD has the higher dividend yield at 5.82%, compared with 5.34% for EMCB.
Their fees differ too: 0.55% for ELD and 0.60% for EMCB.
EMCB currently has the higher Sharpe Ratio (1.83 vs 1.20), 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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