ELD vs. FEMB
ELD (WisdomTree Emerging Markets Local Debt Fund) and FEMB (First Trust Emerging Markets Local Currency Bond ETF) are both Emerging Markets Bonds funds. Both are actively managed. Over the past 10 years, ELD returned 2.82%/yr vs 1.85%/yr for FEMB. A 0.56 correlation means they provide meaningful diversification when combined. ELD charges 0.55%/yr vs 0.85%/yr for FEMB.
Performance
ELD vs. FEMB - Performance Comparison
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Returns By Period
In the year-to-date period, ELD achieves a 0.51% return, which is significantly lower than FEMB's 0.58% return. Over the past 10 years, ELD has outperformed FEMB with an annualized return of 2.82%, while FEMB has yielded a comparatively lower 1.85% annualized return.
ELD
- 1D
- -0.30%
- 1M
- 0.50%
- YTD
- 0.51%
- 6M
- 1.01%
- 1Y
- 9.66%
- 3Y*
- 6.83%
- 5Y*
- 2.63%
- 10Y*
- 2.82%
FEMB
- 1D
- -0.54%
- 1M
- 0.53%
- YTD
- 0.58%
- 6M
- 0.72%
- 1Y
- 10.10%
- 3Y*
- 6.76%
- 5Y*
- 2.12%
- 10Y*
- 1.85%
ELD vs. FEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 0.51% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 0.58% | 21.77% | -5.61% | 17.12% | -10.50% | -13.40% | 3.16% | 11.52% | -7.19% | 11.92% |
Correlation
The correlation between ELD and FEMB is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | 0.56 |
The correlation between ELD and FEMB shifts across timeframes, from 0.56 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ELD vs. FEMB — Risk / Return Rank
ELD
FEMB
ELD vs. FEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and First Trust Emerging Markets Local Currency Bond ETF (FEMB). 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 | FEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.34 | +0.02 |
| Martin ratioReturn relative to average drawdown | 4.59 | 4.06 | +0.53 |
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Drawdowns
ELD vs. FEMB - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, roughly equal to the maximum FEMB drawdown of -30.44%. Use the drawdown chart below to compare losses from any high point for ELD and FEMB.
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Drawdown Indicators
| ELD | FEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.92% | -30.44% | -1.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -7.58% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -10.13% | -0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -22.06% | -25.93% | +3.87% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -30.44% | +5.29% |
Current DrawdownCurrent decline from peak | -2.97% | -3.93% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -13.27% | -9.90% | -3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.49% | -0.38% |
Volatility
ELD vs. FEMB - Volatility Comparison
The current volatility for WisdomTree Emerging Markets Local Debt Fund (ELD) is 2.67%, while First Trust Emerging Markets Local Currency Bond ETF (FEMB) has a volatility of 2.86%. This indicates that ELD experiences smaller price fluctuations and is considered to be less risky than FEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELD | FEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 2.86% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 6.89% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.55% | 8.61% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.96% | 10.27% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.21% | 10.85% | +0.36% |
ELD vs. FEMB - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is lower than FEMB's 0.85% expense ratio.
Dividends
ELD vs. FEMB - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.83%, less than FEMB's 6.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.83% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 6.06% | 5.67% | 6.09% | 5.15% | 6.35% | 6.12% | 5.29% | 5.40% | 5.86% | 6.38% | 5.83% | 4.89% |
Frequently Asked Questions
ELD and FEMB have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMB has higher volatility (2.86%) compared to ELD (2.67%). In terms of maximum drawdown, ELD dropped -31.92% vs FEMB's -30.44%.
On 10-year performance, ELD leads with 2.82% vs 1.85% for FEMB. On fees, ELD is cheaper at 0.55% per year. On volatility, ELD has been the lower-risk option at 2.67%. 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 2.82% return vs 1.85%. 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 0.85% for FEMB.
FEMB has the higher dividend yield at 6.06%, compared with 5.83% for ELD.
They also come from different issuers: WisdomTree and First Trust. Their fees differ too: 0.55% for ELD and 0.85% for FEMB.
FEMB currently has the higher Sharpe Ratio (1.18 vs 1.13), 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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