EMLC vs. WNTR
EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and WNTR (YieldMax Short MSTR Option Income Strategy 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 WNTR is a Derivative Income fund actively managed by YieldMax. EMLC is passively managed, while WNTR is actively managed. Over the past year, EMLC returned 7.62% vs 97.02% for WNTR. At a correlation of -0.25, they often move in opposite directions. EMLC charges 0.30%/yr vs 1.01%/yr for WNTR.
Performance
EMLC vs. WNTR - Performance Comparison
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Returns By Period
In the year-to-date period, EMLC achieves a 0.80% return, which is significantly lower than WNTR's 10.46% return.
EMLC
- 1D
- -0.16%
- 1M
- 0.66%
- YTD
- 0.80%
- 6M
- 0.72%
- 1Y
- 7.62%
- 3Y*
- 6.25%
- 5Y*
- 1.55%
- 10Y*
- 2.14%
WNTR
- 1D
- 6.01%
- 1M
- 37.47%
- YTD
- 10.46%
- 6M
- 14.06%
- 1Y
- 97.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMLC vs. WNTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 0.80% | 13.98% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 10.46% | 52.78% |
Correlation
The correlation between EMLC and WNTR is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.25 |
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Return for Risk
EMLC vs. WNTR — Risk / Return Rank
EMLC
WNTR
EMLC vs. WNTR - 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 YieldMax Short MSTR Option Income Strategy ETF (WNTR). 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 | WNTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 2.29 | -1.05 |
| Martin ratioReturn relative to average drawdown | 4.07 | 5.85 | -1.78 |
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Drawdowns
EMLC vs. WNTR - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for EMLC and WNTR.
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Drawdown Indicators
| EMLC | WNTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -42.65% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -42.65% | +36.46% |
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 | -4.40% | -9.88% | +5.48% |
Average DrawdownAverage peak-to-trough decline | -14.33% | -20.93% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 16.70% | -14.82% |
Volatility
EMLC vs. WNTR - Volatility Comparison
The current volatility for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) is 2.36%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.54%. This indicates that EMLC experiences smaller price fluctuations and is considered to be less risky than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC | WNTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 17.54% | -15.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 45.99% | -39.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.17% | 52.83% | -45.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 53.10% | -43.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.97% | 53.10% | -43.13% |
EMLC vs. WNTR - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is lower than WNTR's 1.01% expense ratio.
Dividends
EMLC vs. WNTR - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.20%, less than WNTR's 96.66% 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 | 6.20% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
WNTR YieldMax Short MSTR Option Income Strategy ETF | 96.66% | 58.56% | 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 WNTR have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WNTR has higher volatility (17.54%) compared to EMLC (2.36%). In terms of maximum drawdown, EMLC dropped -32.43% vs WNTR's -42.65%.
On 1-year performance, WNTR leads with 97.02% vs 7.62% for EMLC. On fees, EMLC is cheaper at 0.30% 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, WNTR has performed better with a 97.02% return vs 7.62%. 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 1.01% for WNTR.
WNTR has the higher dividend yield at 96.66%, compared with 6.20% for EMLC.
EMLC is categorized as Emerging Markets Bonds, while WNTR is Derivative Income. They also come from different issuers: VanEck and YieldMax. Their fees differ too: 0.30% for EMLC and 1.01% for WNTR.
WNTR currently has the higher Sharpe Ratio (1.85 vs 1.07), 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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