EMTL vs. NEMD

Last updated Jun 4, 2026

EMTL (SPDR DoubleLine Emerging Markets Fixed Income ETF) and NEMD (Neuberger Berman Emerging Markets Debt Hard Currency ETF) are both Emerging Markets Bonds funds. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. EMTL charges 0.65%/yr vs 0.60%/yr for NEMD.

Performance

EMTL vs. NEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMTL achieves a 0.74% return, which is significantly lower than NEMD's 3.76% 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%

NEMD

• 1D: -0.39%
• 1M: 1.56%
• YTD: 3.76%
• 6M: 4.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMTL vs. NEMD - Yearly Performance Comparison

	2026 (YTD)	2025
EMTL SPDR DoubleLine Emerging Markets Fixed Income ETF	0.74%	2.16%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	3.76%	7.07%

Correlation

The correlation between EMTL and NEMD is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.66

Return for Risk

EMTL vs. NEMD — Risk / Return Rank

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

EMTL

EMTL Risk / Return Rank: 72
EMTL Sharpe Ratio Rank: 78
EMTL Sortino Ratio Rank: 84
EMTL Omega Ratio Rank: 84
EMTL Calmar Ratio Rank: 57
EMTL Martin Ratio Rank: 58

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.

EMTL vs. NEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). 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	NEMD	Difference
Sharpe ratio Return per unit of total volatility	2.54	—	—
Sortino ratio Return per unit of downside risk	3.76	—	—
Omega ratio Gain probability vs. loss probability	1.51	—	—
Calmar ratio Return relative to maximum drawdown	2.82	—	—
Martin ratio Return relative to average drawdown	10.06	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EMTL	NEMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	2.14	-1.40

Drawdowns

EMTL vs. NEMD - Drawdown Comparison

The maximum EMTL drawdown since its inception was -22.91%, which is greater than NEMD's maximum drawdown of -4.43%. Use the drawdown chart below to compare losses from any high point for EMTL and NEMD.

Drawdown Indicators

	EMTL	NEMD	Difference
Max Drawdown Largest peak-to-trough decline	-22.91%	-4.43%	-18.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.91%	—	—
Current Drawdown Current decline from peak	-0.09%	-0.39%	+0.30%
Average Drawdown Average peak-to-trough decline	-3.83%	-0.57%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	—	—

Volatility

Volatility by Period

	EMTL	NEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.22%	6.51%	-4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	6.51%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	6.51%	-1.84%

EMTL vs. NEMD - Expense Ratio Comparison

EMTL has a 0.65% expense ratio, which is higher than NEMD's 0.60% expense ratio.

Dividends

EMTL vs. NEMD - Dividend Comparison

EMTL's dividend yield for the trailing twelve months is around 4.95%, more than NEMD's 4.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	4.73%	2.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMTL and NEMD in my portfolio?

EMTL and NEMD have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMTL or NEMD?

On fees, NEMD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMTL or NEMD?

NEMD is cheaper with a 0.60% expense ratio, compared with 0.65% for EMTL.

Which ETF pays a higher dividend yield, EMTL or NEMD?

EMTL has the higher dividend yield at 4.95%, compared with 4.73% for NEMD.

What is the main difference between EMTL and NEMD?

They also come from different issuers: State Street and Neuberger Berman. Their fees differ too: 0.65% for EMTL and 0.60% for NEMD.