IDEV vs. EMLC
IDEV (iShares Core MSCI International Developed Markets ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 5 years, IDEV returned 8.52%/yr vs 1.36%/yr for EMLC. A 0.61 correlation means they provide meaningful diversification when combined. IDEV charges 0.05%/yr vs 0.30%/yr for EMLC.
Performance
IDEV vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, IDEV achieves a 9.59% return, which is significantly higher than EMLC's 1.40% return.
IDEV
- 1D
- 0.42%
- 1M
- 2.88%
- YTD
- 9.59%
- 6M
- 11.02%
- 1Y
- 23.58%
- 3Y*
- 17.03%
- 5Y*
- 8.52%
- 10Y*
- —
EMLC
- 1D
- 0.28%
- 1M
- 1.78%
- YTD
- 1.40%
- 6M
- 2.50%
- 1Y
- 9.22%
- 3Y*
- 6.63%
- 5Y*
- 1.36%
- 10Y*
- 2.28%
IDEV vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IDEV iShares Core MSCI International Developed Markets ETF | 9.59% | 32.56% | 4.54% | 17.36% | -14.99% | 13.00% | 8.32% | 23.12% | -14.10% | 17.43% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.40% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 6.68% |
Correlation
The correlation between IDEV and EMLC is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017 | 0.61 |
The correlation between IDEV and EMLC shifts across timeframes, from 0.61 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IDEV vs. EMLC — Risk / Return Rank
IDEV
EMLC
IDEV vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI International Developed Markets ETF (IDEV) and VanEck Vectors 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.
| IDEV | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.42 | +0.56 |
| Martin ratioReturn relative to average drawdown | 7.76 | 4.75 | +3.01 |
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Drawdowns
IDEV vs. EMLC - Drawdown Comparison
The maximum IDEV drawdown since its inception was -34.77%, which is greater than EMLC's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for IDEV and EMLC.
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Drawdown Indicators
| IDEV | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.77% | -32.43% | -2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.20% | -6.19% | -5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -9.15% | -4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -29.15% | -23.91% | -5.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.47% | — |
Current DrawdownCurrent decline from peak | -0.37% | -3.83% | +3.46% |
Average DrawdownAverage peak-to-trough decline | -6.55% | -14.35% | +7.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 1.86% | +1.01% |
Volatility
IDEV vs. EMLC - Volatility Comparison
iShares Core MSCI International Developed Markets ETF (IDEV) has a higher volatility of 5.30% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.44%. This indicates that IDEV's price experiences larger fluctuations and is considered to be riskier than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IDEV | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 2.44% | +2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.73% | 6.17% | +6.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.07% | 7.06% | +8.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.35% | 9.14% | +7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 10.04% | +7.25% |
IDEV vs. EMLC - Expense Ratio Comparison
IDEV has a 0.05% expense ratio, which is lower than EMLC's 0.30% expense ratio.
Dividends
IDEV vs. EMLC - Dividend Comparison
IDEV's dividend yield for the trailing twelve months is around 3.11%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
IDEV iShares Core MSCI International Developed Markets ETF | 3.11% | 3.40% | 3.30% | 3.07% | 2.69% | 3.05% | 2.00% | 3.18% | 3.16% | 1.54% | 0.00% | 0.00% |
Frequently Asked Questions
IDEV and EMLC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEV has higher volatility (5.30%) compared to EMLC (2.44%). In terms of maximum drawdown, IDEV dropped -34.77% vs EMLC's -32.43%.
On 5-year performance, IDEV leads with 8.52% vs 1.36% for EMLC. On fees, IDEV is cheaper at 0.05% per year. On volatility, EMLC has been the lower-risk option at 2.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IDEV has performed better with a 8.52% return vs 1.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDEV is cheaper with a 0.05% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.16%, compared with 3.11% for IDEV.
IDEV is categorized as Foreign Large Cap Equities, while EMLC is Emerging Markets Bonds. IDEV tracks MSCI World ex USA Investable Market Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.05% for IDEV and 0.30% for EMLC.
IDEV currently has the higher Sharpe Ratio (1.48 vs 1.25), 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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