KHYB vs. ELD
KHYB (KraneShares Asia Pacific High Income Bond ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both Emerging Markets Bonds funds. KHYB is passively managed, while ELD is actively managed. Over the past 5 years, KHYB returned 0.17%/yr vs 2.31%/yr for ELD. At a 0.20 correlation, their price movements are largely independent. KHYB charges 0.69%/yr vs 0.55%/yr for ELD.
Performance
KHYB vs. ELD - Performance Comparison
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Returns By Period
In the year-to-date period, KHYB achieves a 2.50% return, which is significantly higher than ELD's 0.74% return.
KHYB
- 1D
- -0.04%
- 1M
- 1.41%
- YTD
- 2.50%
- 6M
- 3.54%
- 1Y
- 10.54%
- 3Y*
- 9.02%
- 5Y*
- 0.17%
- 10Y*
- —
ELD
- 1D
- -0.42%
- 1M
- 0.61%
- YTD
- 0.74%
- 6M
- 1.87%
- 1Y
- 10.72%
- 3Y*
- 7.80%
- 5Y*
- 2.31%
- 10Y*
- 2.86%
KHYB vs. ELD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 2.50% | 9.59% | 10.79% | 3.50% | -10.15% | -12.32% | 2.00% | 8.87% | 0.45% |
ELD WisdomTree Emerging Markets Local Debt Fund | 0.74% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | 0.03% |
Correlation
The correlation between KHYB and ELD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.20 |
Over the past year, KHYB and ELD have become more correlated (0.42) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
KHYB vs. ELD — Risk / Return Rank
KHYB
ELD
KHYB vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Asia Pacific High Income Bond ETF (KHYB) 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.
| KHYB | ELD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.11 | 1.27 | +1.85 |
Sortino ratioReturn per unit of downside risk | 4.81 | 1.90 | +2.91 |
Omega ratioGain probability vs. loss probability | 1.71 | 1.23 | +0.48 |
Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.51 | +1.16 |
Martin ratioReturn relative to average drawdown | 11.98 | 5.31 | +6.67 |
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
| KHYB | ELD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.11 | 1.27 | +1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.21 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.12 | +0.15 |
Drawdowns
KHYB vs. ELD - Drawdown Comparison
The maximum KHYB drawdown since its inception was -33.63%, which is greater than ELD's maximum drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for KHYB and ELD.
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Drawdown Indicators
| KHYB | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -31.92% | -1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | -7.15% | +3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -10.89% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -32.86% | -23.56% | -9.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -0.62% | -2.75% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -9.71% | -13.31% | +3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 2.02% | -1.14% |
Volatility
KHYB vs. ELD - Volatility Comparison
The current volatility for KraneShares Asia Pacific High Income Bond ETF (KHYB) is 0.90%, while WisdomTree Emerging Markets Local Debt Fund (ELD) has a volatility of 2.73%. This indicates that KHYB 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
| KHYB | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 2.73% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 7.12% | -4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 8.52% | -5.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 10.93% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.71% | 11.27% | -5.56% |
KHYB vs. ELD - Expense Ratio Comparison
KHYB has a 0.69% expense ratio, which is higher than ELD's 0.55% expense ratio.
Dividends
KHYB vs. ELD - Dividend Comparison
KHYB's dividend yield for the trailing twelve months is around 8.13%, more than ELD's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.82% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.13% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KHYB and ELD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.73%) compared to KHYB (0.90%). In terms of maximum drawdown, KHYB dropped -33.63% vs ELD's -31.92%.
On 5-year performance, ELD leads with 2.31% vs 0.17% for KHYB. On fees, ELD is cheaper at 0.55% per year. On volatility, KHYB has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ELD has performed better with a 2.31% return vs 0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ELD is cheaper with a 0.55% expense ratio, compared with 0.69% for KHYB.
KHYB has the higher dividend yield at 8.13%, compared with 5.82% for ELD.
They also come from different issuers: KraneShares and WisdomTree. Their fees differ too: 0.69% for KHYB and 0.55% for ELD.
KHYB currently has the higher Sharpe Ratio (3.11 vs 1.27), 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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