FEMB vs. EMLC
FEMB (First Trust Emerging Markets Local Currency Bond ETF) and EMLC (VanEck J.P. Morgan EM Local Currency Bond ETF) are both Emerging Markets Bonds funds. FEMB is actively managed, while EMLC is passively managed. Over the past 10 years, FEMB returned 2.05%/yr vs 1.80%/yr for EMLC. Their 0.63 correlation means they have sometimes moved together and sometimes differently. FEMB charges 0.85%/yr vs 0.30%/yr for EMLC.
Performance
FEMB vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, FEMB achieves a 2.40% return, which is significantly higher than EMLC's 1.93% return. Over the past 10 years, FEMB has outperformed EMLC with an annualized return of 2.05%, while EMLC has yielded a comparatively lower 1.80% annualized return.
FEMB
- 1D
- 0.20%
- 1M
- 0.87%
- 6M
- -0.35%
- YTD
- 2.40%
- 1Y
- 10.01%
- 3Y*
- 6.93%
- 5Y*
- 2.80%
- 10Y*
- 2.05%
- ALL TIME*
- 1.11%
EMLC
- 1D
- 0.16%
- 1M
- 0.20%
- 6M
- -0.04%
- YTD
- 1.93%
- 1Y
- 8.15%
- 3Y*
- 6.48%
- 5Y*
- 1.93%
- 10Y*
- 1.80%
- ALL TIME*
- 1.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.63M | $37.02M | $53.72M | |
| $2.77M | $3.29M | $2.61M |
FEMB vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMB First Trust Emerging Markets Local Currency Bond ETF | 2.40% | 21.77% | -5.61% | 17.12% | -10.50% | -13.40% | 3.16% | 11.52% | -7.19% | 11.92% |
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 1.93% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between FEMB and EMLC is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | 0.63 |
The correlation between FEMB and EMLC shifts across timeframes, from 0.63 (all time) to 0.82 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FEMB vs. EMLC — Risk / Return Rank
FEMB
EMLC
FEMB vs. EMLC - 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 VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC). 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.
| FEMB | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.32 | +0.01 |
| Martin ratioReturn relative to average drawdown | 3.82 | 4.16 | -0.33 |
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Drawdowns
FEMB vs. EMLC - Drawdown Comparison
The maximum FEMB drawdown since its inception was -30.44%, smaller than the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for FEMB and EMLC.
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Drawdown Indicators
| FEMB | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.44% | -32.43% | +1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -6.19% | -1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -7.94% | -2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -23.60% | -1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -30.44% | -26.47% | -3.97% |
Current DrawdownCurrent decline from peak | -2.19% | -3.32% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -9.84% | -14.26% | +4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 1.96% | +0.66% |
Volatility
FEMB vs. EMLC - Volatility Comparison
First Trust Emerging Markets Local Currency Bond ETF (FEMB) and VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) have volatilities of 1.80% and 1.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMB | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.83% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 6.88% | 6.37% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.21% | 7.12% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.23% | 9.12% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 9.92% | +0.75% |
FEMB vs. EMLC - Expense Ratio Comparison
FEMB has a 0.85% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
FEMB vs. EMLC - Dividend Comparison
FEMB's dividend yield for the trailing twelve months is around 6.17%, less than EMLC's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 6.26% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
FEMB First Trust Emerging Markets Local Currency Bond ETF | 6.17% | 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 EMLC have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (1.83%) compared to FEMB (1.80%). In terms of maximum drawdown, FEMB dropped -30.44% vs EMLC's -32.43%.
On 10-year performance, FEMB leads with 2.05% vs 1.80% for EMLC. On fees, EMLC is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FEMB has performed better with a 2.05% return vs 1.80%. 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 0.85% for FEMB.
EMLC has the higher dividend yield at 6.26%, compared with 6.17% for FEMB.
They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.85% for FEMB and 0.30% for EMLC.
FEMB currently has the higher Sharpe Ratio (1.23 vs 1.15), 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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