ELD vs. SPY
ELD (WisdomTree Emerging Markets Local Debt Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - ELD is a Emerging Markets Bonds fund actively managed by WisdomTree, while SPY is a S&P 500 fund tracking the S&P 500 Index. ELD is actively managed, while SPY is passively managed. Over the past 10 years, ELD returned 2.86%/yr vs 15.49%/yr for SPY. At a 0.42 correlation, their price movements are largely independent. ELD charges 0.55%/yr vs 0.09%/yr for SPY.
Performance
ELD vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, ELD achieves a 0.74% return, which is significantly lower than SPY's 10.91% return. Over the past 10 years, ELD has underperformed SPY with an annualized return of 2.86%, while SPY has yielded a comparatively higher 15.49% annualized 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%
SPY
- 1D
- -0.70%
- 1M
- 5.05%
- YTD
- 10.91%
- 6M
- 10.91%
- 1Y
- 27.98%
- 3Y*
- 22.35%
- 5Y*
- 13.83%
- 10Y*
- 15.49%
ELD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 0.74% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
SPY State Street SPDR S&P 500 ETF | 10.91% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between ELD and SPY is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.42 |
The correlation between ELD and SPY shifts across timeframes, from 0.36 (3 years) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ELD vs. SPY — Risk / Return Rank
ELD
SPY
ELD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 3.16 | -1.66 |
| Martin ratioReturn relative to average drawdown | 5.31 | 14.72 | -9.41 |
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 | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.27 | 2.38 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.82 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.87 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.59 | -0.46 |
Drawdowns
ELD vs. SPY - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ELD and SPY.
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Drawdown Indicators
| ELD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.92% | -55.19% | +23.27% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -8.88% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -18.76% | +7.87% |
Max Drawdown (5Y)Largest decline over 5 years | -23.56% | -24.50% | +0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -33.72% | +8.57% |
Current DrawdownCurrent decline from peak | -2.75% | -0.70% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -13.31% | -9.05% | -4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 1.91% | +0.11% |
Volatility
ELD vs. SPY - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 2.73% and 2.84%, 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.
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Volatility by Period
| ELD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.84% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 7.12% | 8.90% | -1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.52% | 11.83% | -3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.93% | 17.05% | -6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.27% | 17.94% | -6.67% |
ELD vs. SPY - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
ELD vs. SPY - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.82%, more than SPY's 0.98% 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% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
ELD and SPY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (2.84%) compared to ELD (2.73%). In terms of maximum drawdown, ELD dropped -31.92% vs SPY's -55.19%.
On 10-year performance, SPY leads with 15.49% vs 2.86% for ELD. On fees, SPY is cheaper at 0.09% per year. On volatility, ELD has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPY has performed better with a 15.49% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.55% for ELD.
ELD has the higher dividend yield at 5.82%, compared with 0.98% for SPY.
ELD is categorized as Emerging Markets Bonds, while SPY is S&P 500. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.55% for ELD and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (2.38 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.
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