EMLC vs. HODL
EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and HODL (VanEck Bitcoin Trust) are both exchange-traded funds - EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index, while HODL is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, EMLC returned 8.66% vs -39.68% for HODL. At a 0.24 correlation, their price movements are largely independent. EMLC charges 0.30%/yr vs 0.25%/yr for HODL.
Performance
EMLC vs. HODL - Performance Comparison
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Returns By Period
In the year-to-date period, EMLC achieves a 0.96% return, which is significantly higher than HODL's -28.75% return.
EMLC
- 1D
- -0.59%
- 1M
- 0.82%
- YTD
- 0.96%
- 6M
- 1.15%
- 1Y
- 8.66%
- 3Y*
- 6.31%
- 5Y*
- 1.57%
- 10Y*
- 2.16%
HODL
- 1D
- -3.24%
- 1M
- -17.82%
- YTD
- -28.75%
- 6M
- -28.92%
- 1Y
- -39.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMLC vs. HODL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 0.96% | 18.81% | -2.08% |
HODL VanEck Bitcoin Trust | -28.75% | -6.42% | 91.50% |
Correlation
The correlation between EMLC and HODL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.24 |
The correlation between EMLC and HODL shifts across timeframes, from 0.24 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMLC vs. HODL — Risk / Return Rank
EMLC
HODL
EMLC vs. HODL - 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 VanEck Bitcoin Trust (HODL). 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 | HODL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.86 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | -0.77 | +2.17 |
| Martin ratioReturn relative to average drawdown | 4.64 | -1.30 | +5.94 |
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Drawdowns
EMLC vs. HODL - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, smaller than the maximum HODL drawdown of -51.96%. Use the drawdown chart below to compare losses from any high point for EMLC and HODL.
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Drawdown Indicators
| EMLC | HODL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -51.96% | +19.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -51.96% | +45.77% |
Max Drawdown (3Y)Largest decline over 3 years | -9.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.47% | — | — |
Current DrawdownCurrent decline from peak | -4.25% | -50.35% | +46.10% |
Average DrawdownAverage peak-to-trough decline | -14.33% | -16.78% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 30.49% | -28.62% |
Volatility
EMLC vs. HODL - Volatility Comparison
The current volatility for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) is 2.36%, while VanEck Bitcoin Trust (HODL) has a volatility of 13.07%. This indicates that EMLC experiences smaller price fluctuations and is considered to be less risky than HODL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC | HODL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 13.07% | -10.71% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 34.59% | -28.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.17% | 44.11% | -36.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 49.89% | -40.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.97% | 49.89% | -39.92% |
EMLC vs. HODL - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is higher than HODL's 0.25% expense ratio.
Dividends
EMLC vs. HODL - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.19%, while HODL has not paid dividends to shareholders.
| 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% |
HODL VanEck Bitcoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLC and HODL have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HODL has higher volatility (13.07%) compared to EMLC (2.36%). In terms of maximum drawdown, EMLC dropped -32.43% vs HODL's -51.96%.
On 1-year performance, EMLC leads with 8.66% vs -39.68% for HODL. On fees, HODL is cheaper at 0.25% per year. On volatility, EMLC has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMLC has performed better with a 8.66% return vs -39.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HODL is cheaper with a 0.25% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.19%, compared with 0.00% for HODL.
EMLC is categorized as Emerging Markets Bonds, while HODL is Cryptocurrency. EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index, while HODL tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.30% for EMLC and 0.25% for HODL.
EMLC currently has the higher Sharpe Ratio (1.21 vs -0.90), 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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