EMLC vs. VB
EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and VB (Vanguard Small-Cap ETF) 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 VB is a Small Cap Blend Equities fund tracking the CRSP US Small Cap Index. Both are passively managed. Over the past 10 years, EMLC returned 2.28%/yr vs 11.61%/yr for VB. At a 0.44 correlation, their price movements are largely independent. EMLC charges 0.30%/yr vs 0.05%/yr for VB.
Performance
EMLC vs. VB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMLC achieves a 1.40% return, which is significantly lower than VB's 15.33% return. Over the past 10 years, EMLC has underperformed VB with an annualized return of 2.28%, while VB has yielded a comparatively higher 11.61% annualized return.
EMLC
- 1D
- 0.28%
- 1M
- 1.78%
- YTD
- 1.40%
- 6M
- 2.50%
- 1Y
- 9.22%
- 3Y*
- 6.63%
- 5Y*
- 1.36%
- 10Y*
- 2.28%
VB
- 1D
- 0.70%
- 1M
- 5.17%
- YTD
- 15.33%
- 6M
- 13.69%
- 1Y
- 30.83%
- 3Y*
- 16.14%
- 5Y*
- 6.98%
- 10Y*
- 11.61%
EMLC vs. VB - 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 | 1.40% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
VB Vanguard Small-Cap ETF | 15.33% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 27.34% | -9.34% | 16.26% |
Correlation
The correlation between EMLC and VB is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2010 | 0.44 |
The correlation between EMLC and VB shifts across timeframes, from 0.42 (10 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMLC vs. VB — Risk / Return Rank
EMLC
VB
EMLC vs. VB - 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 Vanguard Small-Cap ETF (VB). 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 | VB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 3.21 | -1.79 |
| Martin ratioReturn relative to average drawdown | 4.75 | 11.80 | -7.05 |
Loading charts...
Drawdowns
EMLC vs. VB - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, smaller than the maximum VB drawdown of -59.56%. Use the drawdown chart below to compare losses from any high point for EMLC and VB.
Loading charts...
Drawdown Indicators
| EMLC | VB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -59.56% | +27.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -8.98% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -9.15% | -25.36% | +16.21% |
Max Drawdown (5Y)Largest decline over 5 years | -23.91% | -28.15% | +4.24% |
Max Drawdown (10Y)Largest decline over 10 years | -26.47% | -42.05% | +15.58% |
Current DrawdownCurrent decline from peak | -3.83% | 0.00% | -3.83% |
Average DrawdownAverage peak-to-trough decline | -14.35% | -8.43% | -5.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.44% | -0.58% |
Volatility
EMLC vs. VB - Volatility Comparison
The current volatility for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) is 2.44%, while Vanguard Small-Cap ETF (VB) has a volatility of 5.41%. This indicates that EMLC experiences smaller price fluctuations and is considered to be less risky than VB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMLC | VB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 5.41% | -2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 6.17% | 12.24% | -6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.06% | 16.68% | -9.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 20.80% | -11.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.04% | 21.44% | -11.40% |
EMLC vs. VB - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is higher than VB's 0.05% expense ratio.
Dividends
EMLC vs. VB - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.16%, more than VB's 1.18% 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 | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
VB Vanguard Small-Cap ETF | 1.18% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
Frequently Asked Questions
EMLC and VB have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VB has higher volatility (5.41%) compared to EMLC (2.44%). In terms of maximum drawdown, EMLC dropped -32.43% vs VB's -59.56%.
On 10-year performance, VB leads with 11.61% vs 2.28% for EMLC. On fees, VB is cheaper at 0.05% per year. On volatility, EMLC has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VB has performed better with a 11.61% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VB is cheaper with a 0.05% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.16%, compared with 1.18% for VB.
EMLC is categorized as Emerging Markets Bonds, while VB is Small Cap Blend Equities. EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index, while VB tracks CRSP US Small Cap Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.30% for EMLC and 0.05% for VB.
VB currently has the higher Sharpe Ratio (1.73 vs 1.25), 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.
Find the right allocation for EMLC and VB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer