ELD vs. EMLC
ELD (WisdomTree Emerging Markets Local Debt Fund) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both Emerging Markets Bonds funds. ELD is actively managed, while EMLC is passively managed. Over the past 10 years, ELD returned 2.91%/yr vs 2.19%/yr for EMLC. A 0.80 correlation means they provide meaningful diversification when combined. ELD charges 0.55%/yr vs 0.30%/yr for EMLC.
Performance
ELD vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, ELD achieves a 1.16% return, which is significantly lower than EMLC's 1.48% return. Over the past 10 years, ELD has outperformed EMLC with an annualized return of 2.91%, while EMLC has yielded a comparatively lower 2.19% annualized return.
ELD
- 1D
- 0.14%
- 1M
- 0.58%
- YTD
- 1.16%
- 6M
- 3.04%
- 1Y
- 10.62%
- 3Y*
- 7.95%
- 5Y*
- 2.57%
- 10Y*
- 2.91%
EMLC
- 1D
- 0.12%
- 1M
- 1.02%
- YTD
- 1.48%
- 6M
- 2.90%
- 1Y
- 9.92%
- 3Y*
- 7.11%
- 5Y*
- 1.50%
- 10Y*
- 2.19%
ELD vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 1.16% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.48% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between ELD and EMLC is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.80 |
The correlation between ELD and EMLC shifts across timeframes, from 0.70 (3 years) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ELD vs. EMLC — Risk / Return Rank
ELD
EMLC
ELD vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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.
| ELD | EMLC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.45 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.88 | 2.04 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.71 | 0.00 |
Martin ratioReturn relative to average drawdown | 6.05 | 5.94 | +0.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ELD | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.45 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.17 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.22 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.11 | +0.01 |
Drawdowns
ELD vs. EMLC - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, roughly equal to the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for ELD and EMLC.
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Drawdown Indicators
| ELD | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.92% | -32.43% | +0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -6.19% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -9.15% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -23.56% | -25.26% | +1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -26.47% | +1.32% |
Current DrawdownCurrent decline from peak | -2.34% | -3.76% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -13.31% | -14.37% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.78% | +0.24% |
Volatility
ELD vs. EMLC - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) has a higher volatility of 2.74% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.22%. This indicates that ELD's price experiences larger fluctuations and is considered to be riskier than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELD | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 2.22% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.11% | 5.97% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.62% | 6.90% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.94% | 9.13% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.27% | 10.05% | +1.22% |
ELD vs. EMLC - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
ELD vs. EMLC - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.80%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.80% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
Frequently Asked Questions
ELD and EMLC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.74%) compared to EMLC (2.22%). In terms of maximum drawdown, ELD dropped -31.92% vs EMLC's -32.43%.
On 10-year performance, ELD leads with 2.91% vs 2.19% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, EMLC has been the lower-risk option at 2.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ELD has performed better with a 2.91% return vs 2.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMLC is cheaper with a 0.30% expense ratio, compared with 0.55% for ELD.
EMLC has the higher dividend yield at 6.16%, compared with 5.80% for ELD.
They also come from different issuers: WisdomTree and VanEck. Their fees differ too: 0.55% for ELD and 0.30% for EMLC.
EMLC currently has the higher Sharpe Ratio (1.45 vs 1.25), 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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