ELD vs. PCY
Compare and contrast key facts about WisdomTree Emerging Markets Local Debt Fund (ELD) and Invesco Emerging Markets Sovereign Debt ETF (PCY).
ELD and PCY 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. PCY is a passively managed fund by Invesco that tracks the performance of the DB Emerging Market USD Liquid Balanced Index. It was launched on Oct 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ELD or PCY.
Key characteristics
| ELD | PCY | |
|---|---|---|
| YTD Return | -3.31% | -2.14% |
| 1Y Return | 4.00% | 11.38% |
| 3Y Return (Ann) | -1.45% | -4.31% |
| 5Y Return (Ann) | 0.13% | -1.22% |
| 10Y Return (Ann) | -0.44% | 1.77% |
| Sharpe Ratio | 0.38 | 0.95 |
| Daily Std Dev | 10.61% | 11.92% |
| Max Drawdown | -31.92% | -49.14% |
| Current Drawdown | -15.88% | -16.63% |
Correlation
The correlation between ELD and PCY is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
ELD vs. PCY - Performance Comparison
In the year-to-date period, ELD achieves a -3.31% return, which is significantly lower than PCY's -2.14% return. Over the past 10 years, ELD has underperformed PCY with an annualized return of -0.44%, while PCY has yielded a comparatively higher 1.77% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ELD vs. PCY - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is higher than PCY's 0.50% expense ratio.
Risk-Adjusted Performance
ELD vs. PCY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and Invesco Emerging Markets Sovereign Debt ETF (PCY). 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. PCY - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.25%, less than PCY's 6.89% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.25% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% | 4.33% | 3.90% |
PCY Invesco Emerging Markets Sovereign Debt ETF | 6.89% | 6.48% | 6.81% | 4.80% | 4.45% | 4.78% | 4.93% | 4.80% | 5.19% | 5.46% | 4.58% | 4.69% |
Drawdowns
ELD vs. PCY - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, smaller than the maximum PCY drawdown of -49.14%. Use the drawdown chart below to compare losses from any high point for ELD and PCY. For additional features, visit the drawdowns tool.
Volatility
ELD vs. PCY - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) and Invesco Emerging Markets Sovereign Debt ETF (PCY) have volatilities of 3.32% and 3.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.