EMLC vs. EMLIX

Last updated Jun 4, 2026

EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and EMLIX (MFS Emerging Markets Debt Local Currency Fund) are both Emerging Markets Bonds funds. Over the past 10 years, EMLC returned 2.14%/yr vs 3.30%/yr for EMLIX. Their correlation of 0.84 suggests significant overlap in exposure. EMLC charges 0.30%/yr vs 0.85%/yr for EMLIX.

Performance

EMLC vs. EMLIX - 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 MFS Emerging Markets Debt Local Currency Fund (EMLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLC achieves a 0.92% return, which is significantly lower than EMLIX's 1.31% return. Over the past 10 years, EMLC has underperformed EMLIX with an annualized return of 2.14%, while EMLIX has yielded a comparatively higher 3.30% annualized return.

EMLC

• 1D: -0.55%
• 1M: 1.06%
• YTD: 0.92%
• 6M: 1.94%
• 1Y: 9.54%
• 3Y*: 6.92%
• 5Y*: 1.17%
• 10Y*: 2.14%

EMLIX

• 1D: 0.17%
• 1M: 1.58%
• YTD: 1.31%
• 6M: 2.35%
• 1Y: 10.09%
• 3Y*: 7.17%
• 5Y*: 1.99%
• 10Y*: 3.30%

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

EMLC vs. EMLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	0.92%	18.81%	-2.97%	11.18%	-10.58%	-9.72%	3.08%	9.79%	-7.57%	13.84%
EMLIX MFS Emerging Markets Debt Local Currency Fund	1.31%	19.53%	-4.66%	12.67%	-10.19%	-7.97%	2.68%	15.91%	-5.99%	14.59%

Correlation

The correlation between EMLC and EMLIX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011	0.84

The correlation between EMLC and EMLIX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

EMLC vs. EMLIX — Risk / Return Rank

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

EMLC

EMLC Risk / Return Rank: 36
EMLC Sharpe Ratio Rank: 38
EMLC Sortino Ratio Rank: 37
EMLC Omega Ratio Rank: 41
EMLC Calmar Ratio Rank: 31
EMLC Martin Ratio Rank: 35

EMLIX

EMLIX Risk / Return Rank: 26
EMLIX Sharpe Ratio Rank: 31
EMLIX Sortino Ratio Rank: 30
EMLIX Omega Ratio Rank: 36
EMLIX Calmar Ratio Rank: 17
EMLIX Martin Ratio Rank: 19

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. EMLIX - 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 MFS Emerging Markets Debt Local Currency Fund (EMLIX). 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.

	EMLC	EMLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.60	-0.21
Sortino ratio: Return per unit of downside risk	1.96	2.28	-0.32
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	1.55	1.49	+0.06
Martin ratio: Return relative to average drawdown	5.34	5.00	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMLC vs. EMLIX - Sharpe Ratio Comparison

The current EMLC Sharpe Ratio is 1.39, which is comparable to the EMLIX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of EMLC and EMLIX, 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

	EMLC	EMLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.60	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.26	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.25	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.08	+0.03

Drawdowns

EMLC vs. EMLIX - Drawdown Comparison

The maximum EMLC drawdown since its inception was -32.43%, smaller than the maximum EMLIX drawdown of -34.15%. Use the drawdown chart below to compare losses from any high point for EMLC and EMLIX.

Drawdown Indicators

	EMLC	EMLIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.43%	-34.15%	+1.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-6.80%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-9.15%	-9.34%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-24.72%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	-26.47%	-33.42%	+6.95%
Current Drawdown Current decline from peak	-4.28%	-3.27%	-1.01%
Average Drawdown Average peak-to-trough decline	-14.37%	-16.53%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	2.02%	-0.23%

Volatility

EMLC vs. EMLIX - Volatility Comparison

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and MFS Emerging Markets Debt Local Currency Fund (EMLIX) have volatilities of 2.21% and 2.26%, 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.

Volatility by Period

	EMLC	EMLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.26%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	5.99%	5.58%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	6.90%	6.36%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.13%	7.60%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.05%	13.34%	-3.29%

EMLC vs. EMLIX - Expense Ratio Comparison

EMLC has a 0.30% expense ratio, which is lower than EMLIX's 0.85% expense ratio.

Dividends

EMLC vs. EMLIX - Dividend Comparison

EMLC's dividend yield for the trailing twelve months is around 6.19%, more than EMLIX's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	6.19%	5.91%	6.55%	5.97%	5.54%	5.25%	4.90%	6.25%	6.50%	5.34%	5.32%	6.25%
EMLIX MFS Emerging Markets Debt Local Currency Fund	3.38%	3.48%	5.32%	3.64%	3.60%	4.49%	4.13%	4.71%	5.60%	4.48%	4.59%	6.93%

Frequently Asked Questions

Can I hold both EMLC and EMLIX in my portfolio?

EMLC and EMLIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMLC or EMLIX?

EMLIX has higher volatility (2.26%) compared to EMLC (2.21%). In terms of maximum drawdown, EMLC dropped -32.43% vs EMLIX's -34.15%.

Which has better risk-adjusted returns?

EMLIX currently has the higher Sharpe Ratio (1.60 vs 1.39), 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.