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JNK vs. EMLC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JNK vs. EMLC

Last updated Jun 9, 2026

JNK (SPDR Barclays High Yield Bond ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - JNK is a High Yield Bonds fund tracking the Barclays Capital High Yield Very Liquid 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 10 years, JNK returned 4.94%/yr vs 1.99%/yr for EMLC. A 0.52 correlation means they provide meaningful diversification when combined. JNK charges 0.40%/yr vs 0.30%/yr for EMLC.

Performance

JNK vs. EMLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Barclays High Yield Bond ETF (JNK) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JNK achieves a 1.30% return, which is significantly higher than EMLC's -0.23% return. Over the past 10 years, JNK has outperformed EMLC with an annualized return of 4.94%, while EMLC has yielded a comparatively lower 1.99% 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%

EMLC

1D
-0.16%
1M
-1.80%
YTD
-0.23%
6M
1.29%
1Y
7.90%
3Y*
6.04%
5Y*
0.97%
10Y*
1.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JNK vs. EMLC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
EMLC
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF		-0.23%18.81%-2.97%11.18%-10.58%-9.72%3.08%9.79%-7.57%13.84%

Correlation

The correlation between JNK and EMLC is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Jul 23, 2010

0.52

The correlation between JNK and EMLC shifts across timeframes, from 0.52 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Barclays High Yield Bond ETF

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

Often compared with JNK:
JNK vs. HYGJNK vs. SPHYJNK vs. USHYJNK vs. VWEHXJNK vs. JEPIJNK vs. VTCJNK vs. SPSB
Often compared with EMLC:
EMLC vs. LEMBEMLC vs. VWOBEMLC vs. EMBEMLC vs. EBNDEMLC vs. EMBDEMLC vs. EMHYEMLC vs. HYEM

Return for Risk

JNK vs. EMLC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JNK
JNK Risk / Return Rank: 6565
Overall Rank
JNK Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
JNK Sortino Ratio Rank: 6767
Sortino Ratio Rank
JNK Omega Ratio Rank: 6464
Omega Ratio Rank
JNK Calmar Ratio Rank: 6262
Calmar Ratio Rank
JNK Martin Ratio Rank: 7272
Martin Ratio Rank
EMLC
EMLC Risk / Return Rank: 3333
Overall Rank
EMLC Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
EMLC Sortino Ratio Rank: 3333
Sortino Ratio Rank
EMLC Omega Ratio Rank: 3737
Omega Ratio Rank
EMLC Calmar Ratio Rank: 2828
Calmar Ratio Rank
EMLC Martin Ratio Rank: 3232
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JNK vs. EMLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Barclays High Yield Bond ETF (JNK) 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.

JNKEMLCDifference
Sharpe ratioReturn per unit of total volatility
1.83
1.14

+0.69

Sortino ratioReturn per unit of downside risk
2.76
1.60

+1.16

Omega ratioGain probability vs. loss probability

1.35

1.22

+0.13

Calmar ratioReturn relative to maximum drawdown

2.80

1.28

+1.52

Martin ratioReturn relative to average drawdown

12.30

4.34

+7.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNK vs. EMLC - Sharpe Ratio Comparison

The current JNK Sharpe Ratio is 1.83, which is higher than the EMLC Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of JNK and EMLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

JNKEMLCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.83

1.14

+0.69

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

0.11

+0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.20

+0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.10

+0.32

Drawdowns

JNK vs. EMLC - Drawdown Comparison

The maximum JNK drawdown since its inception was -38.48%, which is greater than EMLC's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for JNK and EMLC.

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Drawdown Indicators

JNKEMLCDifference

Max Drawdown

Largest peak-to-trough decline

-38.48%

-32.43%

-6.05%

Max Drawdown (1Y)

Largest decline over 1 year

-2.51%

-6.19%

+3.68%

Max Drawdown (3Y)

Largest decline over 3 years

-5.02%

-9.15%

+4.13%

Max Drawdown (5Y)

Largest decline over 5 years

-16.67%

-25.26%

+8.59%

Max Drawdown (10Y)

Largest decline over 10 years

-22.89%

-26.47%

+3.58%

Current Drawdown

Current decline from peak

-0.46%

-5.38%

+4.92%

Average Drawdown

Average peak-to-trough decline

-3.70%

-14.36%

+10.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.57%

1.82%

-1.25%

Volatility

JNK vs. EMLC - Volatility Comparison

The current volatility for SPDR Barclays High Yield Bond ETF (JNK) is 1.12%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.20%. This indicates that JNK experiences smaller price fluctuations and is considered to be less risky 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

JNKEMLCDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.12%

2.20%

-1.08%

Volatility (6M)

Calculated over the trailing 6-month period

3.00%

6.08%

-3.08%

Volatility (1Y)

Calculated over the trailing 1-year period

3.84%

7.00%

-3.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.55%

9.13%

-1.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.31%

10.05%

-1.74%

JNK vs. EMLC - Expense Ratio Comparison

JNK has a 0.40% expense ratio, which is higher than EMLC's 0.30% expense ratio.

Dividends

JNK vs. EMLC - Dividend Comparison

JNK's dividend yield for the trailing twelve months is around 6.64%, more than EMLC's 6.26% yield.

PositionTTM20252024202320222021202020192018201720162015
EMLC
VanEck Vectors 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%
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 EMLC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMLC has higher volatility (2.20%) compared to JNK (1.12%). In terms of maximum drawdown, JNK dropped -38.48% vs EMLC's -32.43%.

On 10-year performance, JNK leads with 4.94% vs 1.99% for EMLC. On fees, EMLC is cheaper at 0.30% 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 1.99%. 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 0.40% for JNK.

JNK has the higher dividend yield at 6.64%, compared with 6.26% for EMLC.

JNK is categorized as High Yield Bonds, while EMLC is Emerging Markets Bonds. JNK tracks Barclays Capital High Yield Very Liquid Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.40% for JNK and 0.30% for EMLC.

JNK currently has the higher Sharpe Ratio (1.83 vs 1.14), 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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