EMTL vs. LEMB
EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and LEMB (iShares J.P. Morgan EM Local Currency Bond ETF) are both Emerging Markets Bonds funds. EMTL is actively managed, while LEMB is passively managed. Over the past 10 years, EMTL returned 3.38%/yr vs 1.37%/yr for LEMB. At a 0.40 correlation, their price movements are largely independent. EMTL charges 0.65%/yr vs 0.30%/yr for LEMB.
Performance
EMTL vs. LEMB - Performance Comparison
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Returns By Period
In the year-to-date period, EMTL achieves a 0.74% return, which is significantly lower than LEMB's 1.19% return. Over the past 10 years, EMTL has outperformed LEMB with an annualized return of 3.38%, while LEMB has yielded a comparatively lower 1.37% annualized return.
EMTL
- 1D
- -0.09%
- 1M
- 0.49%
- YTD
- 0.74%
- 6M
- 0.89%
- 1Y
- 5.61%
- 3Y*
- 7.09%
- 5Y*
- 1.79%
- 10Y*
- 3.38%
LEMB
- 1D
- -0.57%
- 1M
- 1.13%
- YTD
- 1.19%
- 6M
- 2.18%
- 1Y
- 9.81%
- 3Y*
- 6.09%
- 5Y*
- 0.59%
- 10Y*
- 1.37%
EMTL vs. LEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF | 0.74% | 8.27% | 5.86% | 9.60% | -14.31% | 0.56% | 3.48% | 11.99% | -2.37% | 7.59% |
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 1.19% | 18.02% | -1.72% | 7.23% | -10.74% | -9.92% | 3.10% | 6.40% | -7.49% | 12.49% |
Correlation
The correlation between EMTL and LEMB is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2016 | 0.40 |
The correlation between EMTL and LEMB has been stable across timeframes, ranging from 0.40 to 0.50 - a consistent structural relationship.
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Return for Risk
EMTL vs. LEMB — Risk / Return Rank
EMTL
LEMB
EMTL vs. LEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) and iShares J.P. Morgan EM Local Currency Bond ETF (LEMB). 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.
| EMTL | LEMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.54 | 1.51 | +1.03 |
Sortino ratioReturn per unit of downside risk | 3.76 | 2.10 | +1.65 |
Omega ratioGain probability vs. loss probability | 1.51 | 1.29 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.64 | +1.17 |
Martin ratioReturn relative to average drawdown | 10.06 | 5.58 | +4.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMTL | LEMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 1.51 | +1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.07 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.15 | +0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.05 | +0.69 |
Drawdowns
EMTL vs. LEMB - Drawdown Comparison
The maximum EMTL drawdown since its inception was -22.91%, smaller than the maximum LEMB drawdown of -30.82%. Use the drawdown chart below to compare losses from any high point for EMTL and LEMB.
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Drawdown Indicators
| EMTL | LEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -30.82% | +7.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -6.00% | +4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.79% | -10.09% | +6.30% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -25.29% | +2.38% |
Max Drawdown (10Y)Largest decline over 10 years | -22.91% | -29.09% | +6.18% |
Current DrawdownCurrent decline from peak | -0.09% | -4.87% | +4.78% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -12.74% | +8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 1.76% | -1.20% |
Volatility
EMTL vs. LEMB - Volatility Comparison
The current volatility for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) is 0.67%, while iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) has a volatility of 2.09%. This indicates that EMTL experiences smaller price fluctuations and is considered to be less risky than LEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMTL | LEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 2.09% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 5.34% | -3.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.22% | 6.54% | -4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 8.24% | -3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 9.29% | -4.62% |
EMTL vs. LEMB - Expense Ratio Comparison
EMTL has a 0.65% expense ratio, which is higher than LEMB's 0.30% expense ratio.
Dividends
EMTL vs. LEMB - Dividend Comparison
EMTL's dividend yield for the trailing twelve months is around 4.95%, more than LEMB's 2.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2.41% | 2.44% | 0.00% | 1.34% | 0.86% | 3.89% | 0.00% | 4.39% | 3.46% | 0.00% | 0.00% | 0.64% |
Frequently Asked Questions
EMTL and LEMB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LEMB has higher volatility (2.09%) compared to EMTL (0.67%). In terms of maximum drawdown, EMTL dropped -22.91% vs LEMB's -30.82%.
On 10-year performance, EMTL leads with 3.38% vs 1.37% for LEMB. On fees, LEMB is cheaper at 0.30% per year. On volatility, EMTL has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMTL has performed better with a 3.38% return vs 1.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LEMB is cheaper with a 0.30% expense ratio, compared with 0.65% for EMTL.
EMTL has the higher dividend yield at 4.95%, compared with 2.41% for LEMB.
They also come from different issuers: State Street and iShares. Their fees differ too: 0.65% for EMTL and 0.30% for LEMB.
EMTL currently has the higher Sharpe Ratio (2.54 vs 1.51), 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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