JNK vs. ELD
JNK (SPDR Barclays High Yield Bond ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both exchange-traded funds - JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid Index, while ELD is a Emerging Markets Bonds fund actively managed by WisdomTree. JNK is passively managed, while ELD is actively managed. Over the past 10 years, JNK returned 4.94%/yr vs 2.66%/yr for ELD. At a 0.47 correlation, their price movements are largely independent. JNK charges 0.40%/yr vs 0.55%/yr for ELD.
Performance
JNK vs. ELD - Performance Comparison
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Returns By Period
In the year-to-date period, JNK achieves a 1.30% return, which is significantly higher than ELD's -0.49% return. Over the past 10 years, JNK has outperformed ELD with an annualized return of 4.94%, while ELD has yielded a comparatively lower 2.66% annualized return.
JNK
- 1D
- 0.07%
- 1M
- -0.21%
- YTD
- 1.30%
- 6M
- 1.95%
- 1Y
- 6.98%
- 3Y*
- 8.46%
- 5Y*
- 3.59%
- 10Y*
- 4.94%
ELD
- 1D
- -0.25%
- 1M
- -1.95%
- YTD
- -0.49%
- 6M
- 1.34%
- 1Y
- 9.35%
- 3Y*
- 6.90%
- 5Y*
- 2.01%
- 10Y*
- 2.66%
JNK vs. ELD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JNK SPDR Barclays High Yield Bond ETF | 1.30% | 8.76% | 7.71% | 12.42% | -12.19% | 4.00% | 4.95% | 14.88% | -3.28% | 6.49% |
ELD WisdomTree Emerging Markets Local Debt Fund | -0.49% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
Correlation
The correlation between JNK and ELD is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2010 | 0.47 |
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Return for Risk
JNK vs. ELD — Risk / Return Rank
JNK
ELD
JNK vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) and WisdomTree Emerging Markets Local Debt Fund (ELD). 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.
| JNK | ELD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.20 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 1.31 | +1.48 |
| Martin ratioReturn relative to average drawdown | 12.30 | 4.55 | +7.75 |
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
| JNK | ELD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 1.10 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.18 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.24 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.12 | +0.30 |
Drawdowns
JNK vs. ELD - Drawdown Comparison
The maximum JNK drawdown since its inception was -38.48%, which is greater than ELD's maximum drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for JNK and ELD.
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Drawdown Indicators
| JNK | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.48% | -31.92% | -6.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -7.15% | +4.64% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -10.89% | +5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -16.67% | -23.56% | +6.89% |
Max Drawdown (10Y)Largest decline over 10 years | -22.89% | -25.15% | +2.26% |
Current DrawdownCurrent decline from peak | -0.46% | -3.94% | +3.48% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -13.30% | +9.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 2.06% | -1.49% |
Volatility
JNK vs. ELD - Volatility Comparison
The current volatility for SPDR Barclays High Yield Bond ETF (JNK) is 1.12%, while WisdomTree Emerging Markets Local Debt Fund (ELD) has a volatility of 2.72%. This indicates that JNK experiences smaller price fluctuations and is considered to be less risky than ELD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNK | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 2.72% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 7.16% | -4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 8.54% | -4.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.55% | 10.94% | -3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 11.26% | -2.95% |
JNK vs. ELD - Expense Ratio Comparison
JNK has a 0.40% expense ratio, which is lower than ELD's 0.55% expense ratio.
Dividends
JNK vs. ELD - Dividend Comparison
JNK's dividend yield for the trailing twelve months is around 6.64%, more than ELD's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.89% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
JNK SPDR Barclays High Yield Bond ETF | 6.64% | 6.54% | 6.63% | 6.38% | 6.06% | 4.27% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.59% |
Frequently Asked Questions
JNK and ELD have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.72%) compared to JNK (1.12%). In terms of maximum drawdown, JNK dropped -38.48% vs ELD's -31.92%.
On 10-year performance, JNK leads with 4.94% vs 2.66% for ELD. On fees, JNK is cheaper at 0.40% per year. On volatility, JNK has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, JNK has performed better with a 4.94% return vs 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JNK is cheaper with a 0.40% expense ratio, compared with 0.55% for ELD.
JNK has the higher dividend yield at 6.64%, compared with 5.89% for ELD.
JNK is categorized as High Yield Bonds, while ELD is Emerging Markets Bonds. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.40% for JNK and 0.55% for ELD.
JNK currently has the higher Sharpe Ratio (1.83 vs 1.10), 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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