EMLC vs. FEMB
EMLC (VanEck J.P. Morgan EM Local Currency Bond ETF) and FEMB (First Trust Emerging Markets Local Currency Bond ETF) are both Emerging Markets Bonds funds. EMLC is passively managed, while FEMB is actively managed. Over the past 10 years, EMLC returned 1.79%/yr vs 1.94%/yr for FEMB. A 0.63 correlation means they provide meaningful diversification when combined. EMLC charges 0.30%/yr vs 0.85%/yr for FEMB.
Performance
EMLC vs. FEMB - Performance Comparison
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Returns By Period
In the year-to-date period, EMLC achieves a 1.70% return, which is significantly lower than FEMB's 2.14% return. Over the past 10 years, EMLC has underperformed FEMB with an annualized return of 1.79%, while FEMB has yielded a comparatively higher 1.94% annualized return.
EMLC
- 1D
- -0.35%
- 1M
- -0.84%
- 6M
- 1.03%
- YTD
- 1.70%
- 1Y
- 7.74%
- 3Y*
- 5.65%
- 5Y*
- 1.93%
- 10Y*
- 1.79%
FEMB
- 1D
- -0.24%
- 1M
- -0.47%
- 6M
- 1.22%
- YTD
- 2.14%
- 1Y
- 8.85%
- 3Y*
- 6.07%
- 5Y*
- 2.73%
- 10Y*
- 1.94%
EMLC vs. FEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 1.70% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 2.14% | 21.77% | -5.61% | 17.12% | -10.50% | -13.40% | 3.16% | 11.52% | -7.19% | 11.92% |
Correlation
The correlation between EMLC and FEMB is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | 0.63 |
The correlation between EMLC and FEMB shifts across timeframes, from 0.63 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMLC vs. FEMB — Risk / Return Rank
EMLC
FEMB
EMLC vs. FEMB - 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 First Trust Emerging Markets Local Currency Bond ETF (FEMB). 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 | FEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.17 | +0.08 |
| Martin ratioReturn relative to average drawdown | 4.04 | 3.48 | +0.56 |
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Drawdowns
EMLC vs. FEMB - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, which is greater than FEMB's maximum drawdown of -30.44%. Use the drawdown chart below to compare losses from any high point for EMLC and FEMB.
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Drawdown Indicators
| EMLC | FEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -30.44% | -1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -7.58% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -9.11% | -10.13% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -23.60% | -25.27% | +1.67% |
Max Drawdown (10Y)Largest decline over 10 years | -26.47% | -30.44% | +3.97% |
Current DrawdownCurrent decline from peak | -3.55% | -2.44% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -14.29% | -9.86% | -4.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.55% | -0.63% |
Volatility
EMLC vs. FEMB - Volatility Comparison
VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) has a higher volatility of 1.82% compared to First Trust Emerging Markets Local Currency Bond ETF (FEMB) at 1.64%. This indicates that EMLC's price experiences larger fluctuations and is considered to be riskier than FEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC | FEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.64% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.40% | 6.94% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.17% | 8.20% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.12% | 10.25% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 10.71% | -0.79% |
EMLC vs. FEMB - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is lower than FEMB's 0.85% expense ratio.
Dividends
EMLC vs. FEMB - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.26%, more than FEMB's 6.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 6.26% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 6.08% | 5.67% | 6.09% | 5.15% | 6.35% | 6.12% | 5.29% | 5.40% | 5.86% | 6.38% | 5.83% | 4.89% |
Frequently Asked Questions
EMLC and FEMB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (1.82%) compared to FEMB (1.64%). In terms of maximum drawdown, EMLC dropped -32.43% vs FEMB's -30.44%.
On 10-year performance, FEMB leads with 1.94% vs 1.79% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, FEMB has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FEMB has performed better with a 1.94% return vs 1.79%. 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 0.85% for FEMB.
EMLC has the higher dividend yield at 6.26%, compared with 6.08% for FEMB.
They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.30% for EMLC and 0.85% for FEMB.
FEMB currently has the higher Sharpe Ratio (1.08 vs 1.08), 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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