ELD vs. VWOB
ELD (WisdomTree Emerging Markets Local Debt Fund) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both Emerging Markets Bonds funds. ELD is actively managed, while VWOB is passively managed. Over the past 10 years, ELD returned 2.85%/yr vs 3.52%/yr for VWOB. A 0.50 correlation means they provide meaningful diversification when combined. ELD charges 0.55%/yr vs 0.15%/yr for VWOB.
Performance
ELD vs. VWOB - Performance Comparison
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Returns By Period
In the year-to-date period, ELD achieves a 0.81% return, which is significantly lower than VWOB's 2.09% return. Over the past 10 years, ELD has underperformed VWOB with an annualized return of 2.85%, while VWOB has yielded a comparatively higher 3.52% annualized return.
ELD
- 1D
- -0.97%
- 1M
- 0.80%
- YTD
- 0.81%
- 6M
- 1.76%
- 1Y
- 10.18%
- 3Y*
- 6.94%
- 5Y*
- 2.77%
- 10Y*
- 2.85%
VWOB
- 1D
- -0.37%
- 1M
- 1.81%
- YTD
- 2.09%
- 6M
- 2.11%
- 1Y
- 10.57%
- 3Y*
- 9.07%
- 5Y*
- 2.13%
- 10Y*
- 3.52%
ELD vs. VWOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 0.81% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
VWOB Vanguard Emerging Markets Government Bond ETF | 2.09% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 8.41% |
Correlation
The correlation between ELD and VWOB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.50 |
The correlation between ELD and VWOB has been stable across timeframes, ranging from 0.46 to 0.50 - a consistent structural relationship.
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Return for Risk
ELD vs. VWOB — Risk / Return Rank
ELD
VWOB
ELD vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Local Debt Fund (ELD) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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 | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.37 | -0.94 |
| Martin ratioReturn relative to average drawdown | 4.85 | 9.98 | -5.13 |
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Drawdowns
ELD vs. VWOB - Drawdown Comparison
The maximum ELD drawdown since its inception was -31.92%, which is greater than VWOB's maximum drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for ELD and VWOB.
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Drawdown Indicators
| ELD | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.92% | -26.98% | -4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -4.48% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -10.89% | -7.71% | -3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.06% | -26.98% | +4.92% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -26.98% | +1.83% |
Current DrawdownCurrent decline from peak | -2.68% | -0.37% | -2.31% |
Average DrawdownAverage peak-to-trough decline | -13.28% | -4.79% | -8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.10% | 1.06% | +1.04% |
Volatility
ELD vs. VWOB - Volatility Comparison
WisdomTree Emerging Markets Local Debt Fund (ELD) has a higher volatility of 2.70% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 1.72%. This indicates that ELD's price experiences larger fluctuations and is considered to be riskier than VWOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELD | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 1.72% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 4.36% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.56% | 5.29% | +3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.96% | 9.19% | +1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 9.35% | +1.91% |
ELD vs. VWOB - Expense Ratio Comparison
ELD has a 0.55% expense ratio, which is higher than VWOB's 0.15% expense ratio.
Dividends
ELD vs. VWOB - Dividend Comparison
ELD's dividend yield for the trailing twelve months is around 5.82%, which matches VWOB's 5.81% 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% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.81% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
ELD and VWOB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.70%) compared to VWOB (1.72%). In terms of maximum drawdown, ELD dropped -31.92% vs VWOB's -26.98%.
On 10-year performance, VWOB leads with 3.52% vs 2.85% for ELD. On fees, VWOB is cheaper at 0.15% per year. On volatility, VWOB has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VWOB has performed better with a 3.52% return vs 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.15% expense ratio, compared with 0.55% for ELD.
ELD has the higher dividend yield at 5.82%, compared with 5.81% for VWOB.
They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 0.55% for ELD and 0.15% for VWOB.
VWOB currently has the higher Sharpe Ratio (2.01 vs 1.20), 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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