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EMLC vs. EBND
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

EMLC vs. EBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMLC achieves a 1.56% return, which is significantly higher than EBND's 0.20% return. Over the past 10 years, EMLC has outperformed EBND with an annualized return of 2.22%, while EBND has yielded a comparatively lower 1.79% annualized return.


EMLC

1D
-0.08%
1M
1.42%
YTD
1.56%
6M
2.07%
1Y
9.48%
3Y*
6.52%
5Y*
1.78%
10Y*
2.22%

EBND

1D
-0.29%
1M
1.12%
YTD
0.20%
6M
0.81%
1Y
5.68%
3Y*
5.34%
5Y*
0.51%
10Y*
1.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMLC vs. EBND - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
EMLC
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF
1.56%18.81%-2.97%11.18%-10.58%-9.72%3.08%9.79%-7.57%13.84%
EBND
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF
0.20%15.83%-2.70%9.02%-11.84%-9.66%4.49%10.40%-6.52%13.93%

Correlation

The correlation between EMLC and EBND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.93

Correlation (10Y)
Calculated over the trailing 10-year period

0.92

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2011

0.85

The correlation between EMLC and EBND has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

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Return for Risk

EMLC vs. EBND — Risk / Return Rank

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

EMLC
EMLC Risk / Return Rank: 3737
Overall Rank
EMLC Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
EMLC Sortino Ratio Rank: 3737
Sortino Ratio Rank
EMLC Omega Ratio Rank: 4141
Omega Ratio Rank
EMLC Calmar Ratio Rank: 3232
Calmar Ratio Rank
EMLC Martin Ratio Rank: 3535
Martin Ratio Rank

EBND
EBND Risk / Return Rank: 2222
Overall Rank
EBND Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
EBND Sortino Ratio Rank: 2121
Sortino Ratio Rank
EBND Omega Ratio Rank: 2323
Omega Ratio Rank
EBND Calmar Ratio Rank: 1919
Calmar Ratio Rank
EBND Martin Ratio Rank: 2323
Martin Ratio Rank
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.

EMLC vs. EBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND). 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.


EMLCEBNDDifference
Sharpe ratioReturn per unit of total volatility

+0.53

Sortino ratioReturn per unit of downside risk

+0.73

Omega ratioGain probability vs. loss probability

1.26

1.15

+0.10

Calmar ratioReturn relative to maximum drawdown

1.54

0.86

+0.68

Martin ratioReturn relative to average drawdown

5.09

2.72

+2.37

EMLC vs. EBND - Sharpe Ratio Comparison

The current EMLC Sharpe Ratio is 1.33, which is higher than the EBND Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of EMLC and EBND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

EMLC vs. EBND - Drawdown Comparison

The maximum EMLC drawdown since its inception was -32.43%, which is greater than EBND's maximum drawdown of -29.51%. Use the drawdown chart below to compare losses from any high point for EMLC and EBND.


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Drawdown Indicators


EMLCEBNDDifference

Max Drawdown

Largest peak-to-trough decline

-32.43%

-29.51%

-2.92%

Max Drawdown (1Y)

Largest decline over 1 year

-6.19%

-6.63%

+0.44%

Max Drawdown (3Y)

Largest decline over 3 years

-9.15%

-9.25%

+0.10%

Max Drawdown (5Y)

Largest decline over 5 years

-23.91%

-26.15%

+2.24%

Max Drawdown (10Y)

Largest decline over 10 years

-26.47%

-29.50%

+3.03%

Current Drawdown

Current decline from peak

-3.68%

-2.82%

-0.86%

Average Drawdown

Average peak-to-trough decline

-14.33%

-10.84%

-3.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.87%

2.09%

-0.22%

Volatility

EMLC vs. EBND - Volatility Comparison

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) have volatilities of 2.26% and 2.33%, 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


EMLCEBNDDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.26%

2.33%

-0.07%

Volatility (6M)

Calculated over the trailing 6-month period

6.28%

6.26%

+0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

7.15%

7.15%

0.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.13%

9.00%

+0.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.03%

9.18%

+0.85%

EMLC vs. EBND - Expense Ratio Comparison

Both EMLC and EBND have an expense ratio of 0.30%.


Dividends

EMLC vs. EBND - Dividend Comparison

EMLC's dividend yield for the trailing twelve months is around 6.15%, more than EBND's 5.80% yield.


PositionTTM20252024202320222021202020192018201720162015
EBND
SPDR Bloomberg Barclays Emerging Markets Local Bond ETF
5.80%5.54%5.89%5.26%4.75%3.83%3.67%4.68%4.70%2.00%0.00%0.00%
EMLC
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF
6.15%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


With a correlation of 0.94, EMLC and EBND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

EBND has higher volatility (2.33%) compared to EMLC (2.26%). In terms of maximum drawdown, EMLC dropped -32.43% vs EBND's -29.51%.

On 10-year performance, EMLC leads with 2.22% vs 1.79% for EBND. Both ETFs have the same 0.30% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EMLC has performed better with a 2.22% return vs 1.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMLC and EBND have the same expense ratio: 0.30% per year.

EMLC has the higher dividend yield at 6.15%, compared with 5.80% for EBND.

EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index, while EBND tracks Bloomberg Emerging Market Local Currency Government Diversified. They also come from different issuers: VanEck and State Street.

EMLC currently has the higher Sharpe Ratio (1.33 vs 0.80), 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.

Portfolio Optimizer

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