EMHC vs. EMCB

Last updated Jun 4, 2026

EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. EMHC is passively managed, while EMCB is actively managed. Over the past 5 years, EMHC returned 1.55%/yr vs 2.17%/yr for EMCB. A 0.53 correlation means they provide meaningful diversification when combined. EMHC charges 0.23%/yr vs 0.60%/yr for EMCB.

Performance

EMHC vs. EMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMHC achieves a 1.57% return, which is significantly lower than EMCB's 2.03% return.

EMHC

• 1D: -0.32%
• 1M: 1.13%
• YTD: 1.57%
• 6M: 1.74%
• 1Y: 11.54%
• 3Y*: 8.74%
• 5Y*: 1.55%
• 10Y*: —

EMCB

• 1D: 0.09%
• 1M: 0.53%
• YTD: 2.03%
• 6M: 2.01%
• 1Y: 7.19%
• 3Y*: 7.97%
• 5Y*: 2.17%
• 10Y*: 4.20%

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

EMHC vs. EMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF	1.57%	14.07%	3.52%	10.06%	-17.75%	1.68%
EMCB WisdomTree Emerging Markets Corporate Bond Fund	2.03%	8.19%	7.11%	8.76%	-12.98%	0.72%

Correlation

The correlation between EMHC and EMCB is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021	0.53

The correlation between EMHC and EMCB shifts across timeframes, from 0.36 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.

EMHC vs. EMCB - Sectors Allocation Comparison

Sectors	EMHC	EMCB
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EMHC vs. EMCB — Risk / Return Rank

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

EMHC

EMHC Risk / Return Rank: 64
EMHC Sharpe Ratio Rank: 64
EMHC Sortino Ratio Rank: 71
EMHC Omega Ratio Rank: 68
EMHC Calmar Ratio Rank: 53
EMHC Martin Ratio Rank: 62

EMCB

EMCB Risk / Return Rank: 51
EMCB Sharpe Ratio Rank: 50
EMCB Sortino Ratio Rank: 51
EMCB Omega Ratio Rank: 57
EMCB Calmar Ratio Rank: 48
EMCB Martin Ratio Rank: 49

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.

EMHC vs. EMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.

	EMHC	EMCB	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.75	+0.39
Sortino ratio: Return per unit of downside risk	3.24	2.51	+0.73
Omega ratio: Gain probability vs. loss probability	1.41	1.35	+0.06
Calmar ratio: Return relative to maximum drawdown	2.65	2.36	+0.30
Martin ratio: Return relative to average drawdown	11.09	8.34	+2.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMHC vs. EMCB - Sharpe Ratio Comparison

The current EMHC Sharpe Ratio is 2.14, which is comparable to the EMCB Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of EMHC and EMCB, 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

	EMHC	EMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.75	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.31	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.46	-0.25

Drawdowns

EMHC vs. EMCB - Drawdown Comparison

The maximum EMHC drawdown since its inception was -28.03%, which is greater than EMCB's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for EMHC and EMCB.

Drawdown Indicators

	EMHC	EMCB	Difference
Max Drawdown Largest peak-to-trough decline	-28.03%	-22.81%	-5.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.37%	-3.07%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-7.67%	-4.20%	-3.47%
Max Drawdown (5Y) Largest decline over 5 years	-28.03%	-21.50%	-6.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.81%	—
Current Drawdown Current decline from peak	-0.32%	-0.64%	+0.32%
Average Drawdown Average peak-to-trough decline	-9.91%	-4.23%	-5.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.86%	+0.18%

Volatility

EMHC vs. EMCB - Volatility Comparison

SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) has a higher volatility of 1.89% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.55%. This indicates that EMHC's price experiences larger fluctuations and is considered to be riskier than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMHC	EMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	1.55%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	4.16%	2.89%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	5.43%	4.16%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.06%	6.94%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.96%	8.48%	+0.48%

EMHC vs. EMCB - Expense Ratio Comparison

EMHC has a 0.23% expense ratio, which is lower than EMCB's 0.60% expense ratio.

Dividends

EMHC vs. EMCB - Dividend Comparison

EMHC's dividend yield for the trailing twelve months is around 6.11%, more than EMCB's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCB WisdomTree Emerging Markets Corporate Bond Fund	5.35%	5.47%	5.29%	5.09%	4.04%	3.43%	3.85%	4.17%	4.20%	4.04%	4.08%	5.09%
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF	6.11%	6.16%	5.95%	5.12%	5.11%	2.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMHC and EMCB in my portfolio?

EMHC and EMCB have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMHC or EMCB?

EMHC has higher volatility (1.89%) compared to EMCB (1.55%). In terms of maximum drawdown, EMHC dropped -28.03% vs EMCB's -22.81%.

Which ETF is better, EMHC or EMCB?

On 5-year performance, EMCB leads with 2.17% vs 1.55% for EMHC. On fees, EMHC is cheaper at 0.23% per year. On volatility, EMCB has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMHC or EMCB?

Over the 5-year period, EMCB has performed better with a 2.17% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMHC or EMCB?

EMHC is cheaper with a 0.23% expense ratio, compared with 0.60% for EMCB.

Which ETF pays a higher dividend yield, EMHC or EMCB?

EMHC has the higher dividend yield at 6.11%, compared with 5.35% for EMCB.

What is the main difference between EMHC and EMCB?

They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.23% for EMHC and 0.60% for EMCB.

Which has better risk-adjusted returns?

EMHC currently has the higher Sharpe Ratio (2.14 vs 1.75), 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.