FEMB vs. EMCB
FEMB (First Trust Emerging Markets Local Currency Bond ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. Both are actively managed. Over the past 10 years, FEMB returned 2.51%/yr vs 4.20%/yr for EMCB. At a 0.22 correlation, their price movements are largely independent. FEMB charges 0.85%/yr vs 0.60%/yr for EMCB.
Performance
FEMB vs. EMCB - Performance Comparison
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Returns By Period
In the year-to-date period, FEMB achieves a 0.60% return, which is significantly lower than EMCB's 2.03% return. Over the past 10 years, FEMB has underperformed EMCB with an annualized return of 2.51%, while EMCB has yielded a comparatively higher 4.20% annualized return.
FEMB
- 1D
- -0.81%
- 1M
- 0.57%
- YTD
- 0.60%
- 6M
- 0.88%
- 1Y
- 10.20%
- 3Y*
- 7.79%
- 5Y*
- 1.63%
- 10Y*
- 2.51%
EMCB
- 1D
- 0.09%
- 1M
- 0.53%
- YTD
- 2.03%
- 6M
- 2.01%
- 1Y
- 7.19%
- 3Y*
- 7.97%
- 5Y*
- 2.17%
- 10Y*
- 4.20%
FEMB vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMB First Trust Emerging Markets Local Currency Bond ETF | 0.60% | 21.77% | -5.61% | 17.12% | -10.50% | -13.40% | 3.16% | 11.52% | -7.19% | 11.92% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 2.03% | 8.19% | 7.11% | 8.76% | -12.98% | -0.62% | 8.60% | 13.43% | -3.07% | 9.47% |
Correlation
The correlation between FEMB and EMCB is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2014 | 0.22 |
The correlation between FEMB and EMCB shifts across timeframes, from 0.22 (all time) to 0.34 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FEMB vs. EMCB — Risk / Return Rank
FEMB
EMCB
FEMB vs. EMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Local Currency Bond ETF (FEMB) 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.
| FEMB | EMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.35 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.36 | -1.00 |
| Martin ratioReturn relative to average drawdown | 4.34 | 8.34 | -4.00 |
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
| FEMB | EMCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.75 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.31 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.50 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.46 | -0.38 |
Drawdowns
FEMB vs. EMCB - Drawdown Comparison
The maximum FEMB drawdown since its inception was -30.44%, which is greater than EMCB's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for FEMB and EMCB.
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Drawdown Indicators
| FEMB | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.44% | -22.81% | -7.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -3.07% | -4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -4.20% | -5.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.85% | -21.50% | -6.35% |
Max Drawdown (10Y)Largest decline over 10 years | -30.44% | -22.81% | -7.63% |
Current DrawdownCurrent decline from peak | -3.91% | -0.64% | -3.27% |
Average DrawdownAverage peak-to-trough decline | -9.93% | -4.23% | -5.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.86% | +1.49% |
Volatility
FEMB vs. EMCB - Volatility Comparison
First Trust Emerging Markets Local Currency Bond ETF (FEMB) has a higher volatility of 3.05% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.55%. This indicates that FEMB's price experiences larger fluctuations and is considered to be riskier 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
| FEMB | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 1.55% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.57% | 2.89% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.36% | 4.16% | +4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.26% | 6.94% | +3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.99% | 8.48% | +2.51% |
FEMB vs. EMCB - Expense Ratio Comparison
FEMB has a 0.85% expense ratio, which is higher than EMCB's 0.60% expense ratio.
Dividends
FEMB vs. EMCB - Dividend Comparison
FEMB's dividend yield for the trailing twelve months is around 6.06%, more than EMCB's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.35% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 6.06% | 5.67% | 6.09% | 5.15% | 6.35% | 6.12% | 5.29% | 5.40% | 5.86% | 6.38% | 5.83% | 4.89% |
Frequently Asked Questions
FEMB and EMCB have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMB has higher volatility (3.05%) compared to EMCB (1.55%). In terms of maximum drawdown, FEMB dropped -30.44% vs EMCB's -22.81%.
On 10-year performance, EMCB leads with 4.20% vs 2.51% for FEMB. On fees, EMCB is cheaper at 0.60% per year. On volatility, EMCB has been the lower-risk option at 1.55%. 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 4.20% return vs 2.51%. 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 0.85% for FEMB.
FEMB has the higher dividend yield at 6.06%, compared with 5.35% for EMCB.
They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.85% for FEMB and 0.60% for EMCB.
EMCB currently has the higher Sharpe Ratio (1.75 vs 1.22), 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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