GCC vs. EMHC
GCC (WisdomTree Enhanced Commodity Strategy Fund) and EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) are both exchange-traded funds - GCC is a Commodities fund actively managed by WisdomTree, while EMHC is a Emerging Markets Bonds fund tracking the Bloomberg Emerging USD Bond Core Index - Benchmark TR Net. GCC is actively managed, while EMHC is passively managed. Over the past 5 years, GCC returned 11.48%/yr vs 1.55%/yr for EMHC. At a 0.13 correlation, their price movements are largely independent. GCC charges 0.55%/yr vs 0.23%/yr for EMHC.
Performance
GCC vs. EMHC - Performance Comparison
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Returns By Period
In the year-to-date period, GCC achieves a 18.63% return, which is significantly higher than EMHC's 1.57% return.
GCC
- 1D
- -0.48%
- 1M
- -1.53%
- YTD
- 18.63%
- 6M
- 21.66%
- 1Y
- 37.16%
- 3Y*
- 19.03%
- 5Y*
- 11.48%
- 10Y*
- 6.84%
EMHC
- 1D
- -0.32%
- 1M
- 1.13%
- YTD
- 1.57%
- 6M
- 1.74%
- 1Y
- 11.54%
- 3Y*
- 8.74%
- 5Y*
- 1.55%
- 10Y*
- —
GCC vs. EMHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCC WisdomTree Enhanced Commodity Strategy Fund | 18.63% | 20.01% | 15.13% | -3.72% | 7.74% | 12.41% |
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 1.57% | 14.07% | 3.52% | 10.06% | -17.75% | 1.68% |
Correlation
The correlation between GCC and EMHC is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021 | 0.13 |
The correlation between GCC and EMHC shifts across timeframes, from -0.02 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GCC vs. EMHC — Risk / Return Rank
GCC
EMHC
GCC vs. EMHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity Strategy Fund (GCC) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC). 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.
| GCC | EMHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.65 | +0.99 |
| Martin ratioReturn relative to average drawdown | 13.42 | 11.09 | +2.34 |
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
| GCC | EMHC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.14 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.17 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.22 | -0.14 |
Drawdowns
GCC vs. EMHC - Drawdown Comparison
The maximum GCC drawdown since its inception was -63.19%, which is greater than EMHC's maximum drawdown of -28.03%. Use the drawdown chart below to compare losses from any high point for GCC and EMHC.
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Drawdown Indicators
| GCC | EMHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.19% | -28.03% | -35.16% |
Max Drawdown (1Y)Largest decline over 1 year | -10.25% | -4.37% | -5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -11.22% | -7.67% | -3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -27.07% | -28.03% | +0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -32.93% | — | — |
Current DrawdownCurrent decline from peak | -5.29% | -0.32% | -4.97% |
Average DrawdownAverage peak-to-trough decline | -34.91% | -9.91% | -25.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 1.04% | +1.74% |
Volatility
GCC vs. EMHC - Volatility Comparison
WisdomTree Enhanced Commodity Strategy Fund (GCC) has a higher volatility of 4.53% compared to SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) at 1.89%. This indicates that GCC's price experiences larger fluctuations and is considered to be riskier than EMHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCC | EMHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 1.89% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.76% | 4.16% | +10.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.63% | 5.43% | +11.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.93% | 9.06% | +7.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.77% | 8.96% | +5.81% |
GCC vs. EMHC - Expense Ratio Comparison
GCC has a 0.55% expense ratio, which is higher than EMHC's 0.23% expense ratio.
Dividends
GCC vs. EMHC - Dividend Comparison
GCC's dividend yield for the trailing twelve months is around 5.60%, less than EMHC's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 6.11% | 6.16% | 5.95% | 5.12% | 5.11% | 2.97% |
GCC WisdomTree Enhanced Commodity Strategy Fund | 5.60% | 6.64% | 3.51% | 3.68% | 22.49% | 9.76% |
Frequently Asked Questions
GCC and EMHC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GCC has higher volatility (4.53%) compared to EMHC (1.89%). In terms of maximum drawdown, GCC dropped -63.19% vs EMHC's -28.03%.
On 5-year performance, GCC leads with 11.48% vs 1.55% for EMHC. On fees, EMHC is cheaper at 0.23% per year. On volatility, EMHC has been the lower-risk option at 1.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GCC has performed better with a 11.48% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMHC is cheaper with a 0.23% expense ratio, compared with 0.55% for GCC.
EMHC has the higher dividend yield at 6.11%, compared with 5.60% for GCC.
GCC is categorized as Commodities, while EMHC is Emerging Markets Bonds. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.55% for GCC and 0.23% for EMHC.
GCC currently has the higher Sharpe Ratio (2.24 vs 2.14), 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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