EMTL vs. EMCB
EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. Both are actively managed. Over the past 10 years, EMTL returned 3.30%/yr vs 4.26%/yr for EMCB. At a 0.31 correlation, their price movements are largely independent. EMTL charges 0.65%/yr vs 0.60%/yr for EMCB.
Performance
EMTL vs. EMCB - Performance Comparison
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Returns By Period
In the year-to-date period, EMTL achieves a 0.72% return, which is significantly lower than EMCB's 2.29% return. Over the past 10 years, EMTL has underperformed EMCB with an annualized return of 3.30%, while EMCB has yielded a comparatively higher 4.26% annualized return.
EMTL
- 1D
- -0.04%
- 1M
- 0.64%
- YTD
- 0.72%
- 6M
- 0.90%
- 1Y
- 4.64%
- 3Y*
- 6.77%
- 5Y*
- 1.63%
- 10Y*
- 3.30%
EMCB
- 1D
- -0.13%
- 1M
- 1.18%
- YTD
- 2.29%
- 6M
- 2.12%
- 1Y
- 6.91%
- 3Y*
- 7.78%
- 5Y*
- 2.18%
- 10Y*
- 4.26%
EMTL vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 0.72% | 8.27% | 5.86% | 9.60% | -14.31% | 0.56% | 3.48% | 11.99% | -2.37% | 7.59% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 2.29% | 8.19% | 7.11% | 8.76% | -12.98% | -0.62% | 8.60% | 13.43% | -3.07% | 9.47% |
Correlation
The correlation between EMTL and EMCB is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2016 | 0.31 |
The correlation between EMTL and EMCB shifts across timeframes, from 0.31 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMTL vs. EMCB — Risk / Return Rank
EMTL
EMCB
EMTL vs. EMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.
| EMTL | EMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.26 | +0.07 |
| Martin ratioReturn relative to average drawdown | 8.26 | 7.98 | +0.28 |
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Drawdowns
EMTL vs. EMCB - Drawdown Comparison
The maximum EMTL drawdown since its inception was -22.91%, roughly equal to the maximum EMCB drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for EMTL and EMCB.
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Drawdown Indicators
| EMTL | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -22.81% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -3.07% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -3.79% | -4.20% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -21.50% | -1.41% |
Max Drawdown (10Y)Largest decline over 10 years | -22.91% | -22.81% | -0.10% |
Current DrawdownCurrent decline from peak | -0.11% | -0.39% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -4.22% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.87% | -0.31% |
Volatility
EMTL vs. EMCB - Volatility Comparison
The current volatility for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) is 0.66%, while WisdomTree Emerging Markets Corporate Bond Fund (EMCB) has a volatility of 1.47%. This indicates that EMTL experiences smaller price fluctuations and is considered to be less risky than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMTL | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.47% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 3.05% | -1.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 3.79% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 6.93% | -2.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 8.48% | -3.81% |
EMTL vs. EMCB - Expense Ratio Comparison
EMTL has a 0.65% expense ratio, which is higher than EMCB's 0.60% expense ratio.
Dividends
EMTL vs. EMCB - Dividend Comparison
EMTL's dividend yield for the trailing twelve months is around 4.95%, less than EMCB's 5.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.34% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 4.95% | 5.09% | 5.34% | 4.78% | 4.19% | 5.43% | 3.28% | 3.96% | 3.35% | 4.16% | 8.87% | 0.00% |
Frequently Asked Questions
EMTL and EMCB have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMCB has higher volatility (1.47%) compared to EMTL (0.66%). In terms of maximum drawdown, EMTL dropped -22.91% vs EMCB's -22.81%.
On 10-year performance, EMCB leads with 4.26% vs 3.30% for EMTL. On fees, EMCB is cheaper at 0.60% per year. On volatility, EMTL has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMCB has performed better with a 4.26% return vs 3.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMCB is cheaper with a 0.60% expense ratio, compared with 0.65% for EMTL.
EMCB has the higher dividend yield at 5.34%, compared with 4.95% for EMTL.
They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.65% for EMTL and 0.60% for EMCB.
EMTL currently has the higher Sharpe Ratio (2.07 vs 1.83), 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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