EMLC vs. VEMY

Last updated Jun 3, 2026

EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both Emerging Markets Bonds funds. EMLC is passively managed, while VEMY is actively managed. Over the past 3 years, EMLC returned 7.11%/yr vs 15.82%/yr for VEMY. A 0.55 correlation means they provide meaningful diversification when combined. EMLC charges 0.30%/yr vs 0.58%/yr for VEMY.

Performance

EMLC vs. VEMY - 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 Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLC achieves a 1.48% return, which is significantly lower than VEMY's 6.07% return.

EMLC

• 1D: 0.12%
• 1M: 1.02%
• YTD: 1.48%
• 6M: 2.90%
• 1Y: 9.92%
• 3Y*: 7.11%
• 5Y*: 1.50%
• 10Y*: 2.19%

VEMY

• 1D: 0.28%
• 1M: 1.34%
• YTD: 6.07%
• 6M: 7.13%
• 1Y: 19.15%
• 3Y*: 15.82%
• 5Y*: —
• 10Y*: —

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

EMLC vs. VEMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	1.48%	18.81%	-2.97%	11.18%	-0.03%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	6.07%	15.27%	13.48%	14.45%	-1.08%

Correlation

The correlation between EMLC and VEMY is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.55

The correlation between EMLC and VEMY has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.

Return for Risk

EMLC vs. VEMY — Risk / Return Rank

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

EMLC

EMLC Risk / Return Rank: 39
EMLC Sharpe Ratio Rank: 41
EMLC Sortino Ratio Rank: 39
EMLC Omega Ratio Rank: 44
EMLC Calmar Ratio Rank: 34
EMLC Martin Ratio Rank: 38

VEMY

VEMY Risk / Return Rank: 91
VEMY Sharpe Ratio Rank: 90
VEMY Sortino Ratio Rank: 94
VEMY Omega Ratio Rank: 93
VEMY Calmar Ratio Rank: 85
VEMY Martin Ratio Rank: 91

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. VEMY - 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 Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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	VEMY	Difference
Sharpe ratio Return per unit of total volatility	1.45	3.18	-1.73
Sortino ratio Return per unit of downside risk	2.04	4.88	-2.83
Omega ratio Gain probability vs. loss probability	1.28	1.65	-0.37
Calmar ratio Return relative to maximum drawdown	1.71	4.75	-3.04
Martin ratio Return relative to average drawdown	5.94	22.62	-16.68
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. VEMY - Sharpe Ratio Comparison

The current EMLC Sharpe Ratio is 1.45, which is lower than the VEMY Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of EMLC and VEMY, 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	VEMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	3.18	-1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	1.84	-1.72

Drawdowns

EMLC vs. VEMY - Drawdown Comparison

The maximum EMLC drawdown since its inception was -32.43%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for EMLC and VEMY.

Drawdown Indicators

	EMLC	VEMY	Difference
Max Drawdown Largest peak-to-trough decline	-32.43%	-8.77%	-23.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-4.00%	-2.19%
Max Drawdown (3Y) Largest decline over 3 years	-9.15%	-6.57%	-2.58%
Max Drawdown (5Y) Largest decline over 5 years	-25.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.47%	—	—
Current Drawdown Current decline from peak	-3.76%	0.00%	-3.76%
Average Drawdown Average peak-to-trough decline	-14.37%	-1.31%	-13.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	0.84%	+0.94%

Volatility

EMLC vs. VEMY - Volatility Comparison

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a higher volatility of 2.22% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.69%. This indicates that EMLC's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLC	VEMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	1.69%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	4.65%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	6.90%	6.05%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.13%	7.64%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.05%	7.64%	+2.41%

EMLC vs. VEMY - Expense Ratio Comparison

EMLC has a 0.30% expense ratio, which is lower than VEMY's 0.58% expense ratio.

Dividends

EMLC vs. VEMY - Dividend Comparison

EMLC's dividend yield for the trailing twelve months is around 6.16%, less than VEMY's 8.36% 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%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	8.36%	8.89%	10.28%	9.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMLC and VEMY in my portfolio?

EMLC and VEMY have a correlation of 0.52, 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 VEMY?

EMLC has higher volatility (2.22%) compared to VEMY (1.69%). In terms of maximum drawdown, EMLC dropped -32.43% vs VEMY's -8.77%.

Which ETF is better, EMLC or VEMY?

On 3-year performance, VEMY leads with 15.82% vs 7.11% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, VEMY has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMLC or VEMY?

Over the 3-year period, VEMY has performed better with a 15.82% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMLC or VEMY?

EMLC is cheaper with a 0.30% expense ratio, compared with 0.58% for VEMY.

Which ETF pays a higher dividend yield, EMLC or VEMY?

VEMY has the higher dividend yield at 8.36%, compared with 6.16% for EMLC.

What is the main difference between EMLC and VEMY?

They also come from different issuers: VanEck and Virtus. Their fees differ too: 0.30% for EMLC and 0.58% for VEMY.

Which has better risk-adjusted returns?

VEMY currently has the higher Sharpe Ratio (3.18 vs 1.45), 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.