EMHC vs. EMLC
Compare and contrast key facts about SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC).
EMHC and EMLC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMHC is a passively managed fund by State Street that tracks the performance of the Bloomberg Emerging USD Bond Core Index - Benchmark TR Net. It was launched on Apr 6, 2021. EMLC is a passively managed fund by VanEck that tracks the performance of the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. It was launched on Jul 22, 2010. Both EMHC and EMLC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EMHC vs. EMLC - Performance Comparison
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EMHC vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | -1.69% | 14.07% | 3.52% | 10.06% | -17.75% | 1.68% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | -1.86% | 18.81% | -2.97% | 11.18% | -10.58% | -4.11% |
Returns By Period
In the year-to-date period, EMHC achieves a -1.69% return, which is significantly higher than EMLC's -1.86% return.
EMHC
- 1D
- 0.81%
- 1M
- -3.43%
- YTD
- -1.69%
- 6M
- 1.67%
- 1Y
- 9.31%
- 3Y*
- 7.46%
- 5Y*
- —
- 10Y*
- —
EMLC
- 1D
- 1.13%
- 1M
- -5.14%
- YTD
- -1.86%
- 6M
- 1.38%
- 1Y
- 11.82%
- 3Y*
- 6.15%
- 5Y*
- 1.72%
- 10Y*
- 1.81%
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EMHC vs. EMLC - Expense Ratio Comparison
EMHC has a 0.23% expense ratio, which is lower than EMLC's 0.30% expense ratio.
Return for Risk
EMHC vs. EMLC — Risk / Return Rank
EMHC
EMLC
EMHC vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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 | EMLC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.38 | 1.68 | -0.29 |
Sortino ratioReturn per unit of downside risk | 2.01 | 2.28 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.18 | 1.95 | +0.23 |
Martin ratioReturn relative to average drawdown | 8.84 | 8.57 | +0.27 |
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
| EMHC | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.68 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.09 | +0.06 |
Correlation
The correlation between EMHC and EMLC is 0.61, 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.
Dividends
EMHC vs. EMLC - Dividend Comparison
EMHC's dividend yield for the trailing twelve months is around 6.33%, more than EMLC's 6.10% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 6.33% | 6.16% | 5.95% | 5.12% | 5.11% | 2.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.10% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
Drawdowns
EMHC vs. EMLC - Drawdown Comparison
The maximum EMHC drawdown since its inception was -28.03%, smaller than the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for EMHC and EMLC.
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Drawdown Indicators
| EMHC | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.03% | -32.43% | +4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -4.37% | -6.19% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.26% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.47% | — |
Current DrawdownCurrent decline from peak | -3.44% | -6.92% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -14.48% | +4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.41% | -0.33% |
Volatility
EMHC vs. EMLC - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) is 2.75%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 4.03%. This indicates that EMHC experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHC | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.75% | 4.03% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.85% | 5.04% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.76% | 7.08% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.05% | 9.11% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.05% | 10.13% | -1.08% |