ELD vs. MTBA

Last updated Jun 4, 2026

ELD (WisdomTree Emerging Markets Local Debt Fund) and MTBA (Simplify MBS ETF) are both exchange-traded funds - ELD is a Emerging Markets Bonds fund actively managed by WisdomTree, while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. Both are actively managed. Over the past year, ELD returned 10.72% vs 5.18% for MTBA. At a 0.35 correlation, their price movements are largely independent. ELD charges 0.55%/yr vs 0.15%/yr for MTBA.

Performance

ELD vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Local Debt Fund (ELD) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELD achieves a 0.74% return, which is significantly higher than MTBA's -0.23% return.

ELD

• 1D: -0.42%
• 1M: 0.61%
• YTD: 0.74%
• 6M: 1.87%
• 1Y: 10.72%
• 3Y*: 7.80%
• 5Y*: 2.31%
• 10Y*: 2.86%

MTBA

• 1D: -0.12%
• 1M: 0.21%
• YTD: -0.23%
• 6M: 0.18%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELD vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ELD WisdomTree Emerging Markets Local Debt Fund	0.74%	21.77%	-4.56%	5.93%
MTBA Simplify MBS ETF	-0.23%	7.74%	1.99%	3.64%

Correlation

The correlation between ELD and MTBA is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.35

Return for Risk

ELD vs. MTBA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELD

ELD Risk / Return Rank: 34
ELD Sharpe Ratio Rank: 35
ELD Sortino Ratio Rank: 36
ELD Omega Ratio Rank: 34
ELD Calmar Ratio Rank: 30
ELD Martin Ratio Rank: 35

MTBA

MTBA Risk / Return Rank: 45
MTBA Sharpe Ratio Rank: 48
MTBA Sortino Ratio Rank: 48
MTBA Omega Ratio Rank: 51
MTBA Calmar Ratio Rank: 37
MTBA Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELD vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and Simplify MBS ETF (MTBA). 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	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.68	-0.41
Sortino ratio: Return per unit of downside risk	1.90	2.38	-0.48
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.51	1.84	-0.34
Martin ratio: Return relative to average drawdown	5.31	6.28	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELD vs. MTBA - Sharpe Ratio Comparison

The current ELD Sharpe Ratio is 1.27, which is comparable to the MTBA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of ELD and MTBA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ELD	MTBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.68	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	1.30	-1.18

Drawdowns

ELD vs. MTBA - Drawdown Comparison

The maximum ELD drawdown since its inception was -31.92%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for ELD and MTBA.

Drawdown Indicators

	ELD	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-31.92%	-3.48%	-28.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-2.82%	-4.33%
Max Drawdown (3Y) Largest decline over 3 years	-10.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.56%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.15%	—	—
Current Drawdown Current decline from peak	-2.75%	-1.60%	-1.15%
Average Drawdown Average peak-to-trough decline	-13.31%	-0.79%	-12.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	0.83%	+1.19%

Volatility

ELD vs. MTBA - Volatility Comparison

WisdomTree Emerging Markets Local Debt Fund (ELD) has a higher volatility of 2.73% compared to Simplify MBS ETF (MTBA) at 1.33%. This indicates that ELD's price experiences larger fluctuations and is considered to be riskier than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELD	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	1.33%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	2.47%	+4.65%
Volatility (1Y) Calculated over the trailing 1-year period	8.52%	3.10%	+5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	3.95%	+6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	3.95%	+7.32%

ELD vs. MTBA - Expense Ratio Comparison

ELD has a 0.55% expense ratio, which is higher than MTBA's 0.15% expense ratio.

Dividends

ELD vs. MTBA - Dividend Comparison

ELD's dividend yield for the trailing twelve months is around 5.82%, less than MTBA's 6.09% 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%
MTBA Simplify MBS ETF	6.09%	5.98%	6.03%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ELD and MTBA in my portfolio?

ELD and MTBA have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELD or MTBA?

ELD has higher volatility (2.73%) compared to MTBA (1.33%). In terms of maximum drawdown, ELD dropped -31.92% vs MTBA's -3.48%.

Which ETF is better, ELD or MTBA?

On 1-year performance, ELD leads with 10.72% vs 5.18% for MTBA. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ELD or MTBA?

Over the 1-year period, ELD has performed better with a 10.72% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ELD or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.55% for ELD.

Which ETF pays a higher dividend yield, ELD or MTBA?

MTBA has the higher dividend yield at 6.09%, compared with 5.82% for ELD.

What is the main difference between ELD and MTBA?

ELD is categorized as Emerging Markets Bonds, while MTBA is Mortgage Backed Securities. They also come from different issuers: WisdomTree and Simplify. Their fees differ too: 0.55% for ELD and 0.15% for MTBA.

Which has better risk-adjusted returns?

MTBA currently has the higher Sharpe Ratio (1.68 vs 1.27), 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.