EMLC vs. BIZD
EMLC (VanEck J.P. Morgan EM Local Currency Bond ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan GBI-EM Global Core Index, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, EMLC returned 1.77%/yr vs 7.49%/yr for BIZD. At a 0.31 correlation, their price movements are largely independent. EMLC charges 0.30%/yr vs 12.86%/yr for BIZD.
Performance
EMLC vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, EMLC achieves a 1.46% return, which is significantly higher than BIZD's -6.86% return. Over the past 10 years, EMLC has underperformed BIZD with an annualized return of 1.77%, while BIZD has yielded a comparatively higher 7.49% annualized return.
EMLC
- 1D
- -0.63%
- 1M
- 0.06%
- 6M
- 0.91%
- YTD
- 1.46%
- 1Y
- 7.49%
- 3Y*
- 5.63%
- 5Y*
- 1.85%
- 10Y*
- 1.77%
BIZD
- 1D
- -0.64%
- 1M
- 0.00%
- 6M
- -7.77%
- YTD
- -6.86%
- 1Y
- -15.51%
- 3Y*
- 4.21%
- 5Y*
- 4.59%
- 10Y*
- 7.49%
EMLC vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 1.46% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
BIZD VanEck BDC Income ETF | -6.86% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
Correlation
The correlation between EMLC and BIZD is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.31 |
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Return for Risk
EMLC vs. BIZD — Risk / Return Rank
EMLC
BIZD
EMLC vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) and VanEck BDC Income ETF (BIZD). 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.
| EMLC | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.88 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | -0.70 | +1.91 |
| Martin ratioReturn relative to average drawdown | 3.92 | -1.12 | +5.04 |
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Drawdowns
EMLC vs. BIZD - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for EMLC and BIZD.
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Drawdown Indicators
| EMLC | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -55.44% | +23.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -22.22% | +16.03% |
Max Drawdown (3Y)Largest decline over 3 years | -9.11% | -22.56% | +13.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.60% | -22.91% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | -26.47% | -55.44% | +28.97% |
Current DrawdownCurrent decline from peak | -3.78% | -17.39% | +13.61% |
Average DrawdownAverage peak-to-trough decline | -14.29% | -6.81% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.91% | 13.91% | -12.00% |
Volatility
EMLC vs. BIZD - Volatility Comparison
The current volatility for VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) is 2.23%, while VanEck BDC Income ETF (BIZD) has a volatility of 4.90%. This indicates that EMLC experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.23% | 4.90% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 14.95% | -8.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.17% | 18.67% | -11.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.13% | 17.48% | -8.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.93% | 21.78% | -11.85% |
EMLC vs. BIZD - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
EMLC vs. BIZD - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.27%, less than BIZD's 12.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 12.22% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 6.27% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
Frequently Asked Questions
EMLC and BIZD have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (4.90%) compared to EMLC (2.23%). In terms of maximum drawdown, EMLC dropped -32.43% vs BIZD's -55.44%.
On 10-year performance, BIZD leads with 7.49% vs 1.77% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, EMLC has been the lower-risk option at 2.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIZD has performed better with a 7.49% return vs 1.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMLC is cheaper with a 0.30% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 12.22%, compared with 6.27% for EMLC.
EMLC is categorized as Emerging Markets Bonds, while BIZD is Financials Equities. EMLC tracks J.P. Morgan GBI-EM Global Core Index, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.30% for EMLC and 12.86% for BIZD.
EMLC currently has the higher Sharpe Ratio (1.05 vs -0.84), 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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