EMLC vs. MOAT

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and VanEck Vectors Morningstar Wide Moat ETF (MOAT).

EMLC and MOAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMLC is a passively managed fund by VanEck that tracks the performance of the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. It was launched on Jul 22, 2010. MOAT is a passively managed fund by VanEck that tracks the performance of the Morningstar Wide Moat Focus Index. It was launched on Apr 24, 2012. Both EMLC and MOAT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMLC vs. MOAT - 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 VanEck Vectors Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

EMLC vs. MOAT - 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	-1.30%	18.81%	-2.97%	11.18%	-10.58%	-9.72%	3.08%	9.79%	-7.57%	13.84%
MOAT VanEck Vectors Morningstar Wide Moat ETF	-6.87%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Returns By Period

In the year-to-date period, EMLC achieves a -1.30% return, which is significantly higher than MOAT's -6.87% return. Over the past 10 years, EMLC has underperformed MOAT with an annualized return of 1.87%, while MOAT has yielded a comparatively higher 13.46% annualized return.

EMLC

• 1D: 0.56%
• 1M: -3.51%
• YTD: -1.30%
• 6M: 1.77%
• 1Y: 12.42%
• 3Y*: 6.35%
• 5Y*: 1.83%
• 10Y*: 1.87%

MOAT

• 1D: -0.26%
• 1M: -9.39%
• YTD: -6.87%
• 6M: -2.70%
• 1Y: 11.53%
• 3Y*: 10.62%
• 5Y*: 7.92%
• 10Y*: 13.46%

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

EMLC vs. MOAT - Expense Ratio Comparison

EMLC has a 0.30% expense ratio, which is lower than MOAT's 0.48% expense ratio.

MOAT

VanEck Vectors Morningstar Wide Moat ETF

EMLC

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

Return for Risk

EMLC vs. MOAT — Risk / Return Rank

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

EMLC

EMLC Risk / Return Rank: 81
EMLC Sharpe Ratio Rank: 85
EMLC Sortino Ratio Rank: 86
EMLC Omega Ratio Rank: 85
EMLC Calmar Ratio Rank: 74
EMLC Martin Ratio Rank: 77

MOAT

MOAT Risk / Return Rank: 31
MOAT Sharpe Ratio Rank: 30
MOAT Sortino Ratio Rank: 32
MOAT Omega Ratio Rank: 30
MOAT Calmar Ratio Rank: 32
MOAT Martin Ratio Rank: 34

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. MOAT - 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 Vectors Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio Return per unit of total volatility	1.76	0.59	+1.17
Sortino ratio Return per unit of downside risk	2.39	0.98	+1.41
Omega ratio Gain probability vs. loss probability	1.35	1.13	+0.22
Calmar ratio Return relative to maximum drawdown	2.01	0.83	+1.18
Martin ratio Return relative to average drawdown	8.67	3.12	+5.55
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. MOAT - Sharpe Ratio Comparison

The current EMLC Sharpe Ratio is 1.76, which is higher than the MOAT Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of EMLC and MOAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMLC	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	0.59	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.44	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.72	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.75	-0.65

Correlation

The correlation between EMLC and MOAT is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EMLC vs. MOAT - Dividend Comparison

EMLC's dividend yield for the trailing twelve months is around 6.16%, more than MOAT's 1.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	6.16%	5.91%	6.55%	5.97%	5.54%	5.25%	4.90%	6.25%	6.50%	5.34%	5.32%	6.25%
MOAT VanEck Vectors Morningstar Wide Moat ETF	1.46%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Drawdowns

EMLC vs. MOAT - Drawdown Comparison

The maximum EMLC drawdown since its inception was -32.43%, roughly equal to the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for EMLC and MOAT.

Drawdown Indicators

	EMLC	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-32.43%	-33.31%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-13.30%	+7.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	-23.96%	-1.30%
Max Drawdown (10Y) Largest decline over 10 years	-26.47%	-33.31%	+6.84%
Current Drawdown Current decline from peak	-6.39%	-10.42%	+4.03%
Average Drawdown Average peak-to-trough decline	-14.47%	-3.80%	-10.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	3.55%	-2.11%

Volatility

EMLC vs. MOAT - Volatility Comparison

The current volatility for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) is 3.73%, while VanEck Vectors Morningstar Wide Moat ETF (MOAT) has a volatility of 4.78%. This indicates that EMLC experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLC	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	4.78%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	5.07%	10.10%	-5.03%
Volatility (1Y) Calculated over the trailing 1-year period	7.10%	19.76%	-12.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.11%	18.09%	-8.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.13%	18.71%	-8.58%