LEMB vs. ELD
LEMB (iShares J.P. Morgan EM Local Currency Bond ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both Emerging Markets Bonds funds. LEMB is passively managed, while ELD is actively managed. Over the past 10 years, LEMB returned 1.01%/yr vs 2.47%/yr for ELD. Their 0.74 correlation means they have sometimes moved together and sometimes differently. LEMB charges 0.30%/yr vs 0.55%/yr for ELD.
Performance
LEMB vs. ELD - Performance Comparison
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Returns By Period
In the year-to-date period, LEMB achieves a 2.60% return, which is significantly higher than ELD's 1.54% return. Over the past 10 years, LEMB has underperformed ELD with an annualized return of 1.01%, while ELD has yielded a comparatively higher 2.47% annualized return.
LEMB
- 1D
- 0.16%
- 1M
- 0.21%
- 6M
- 0.59%
- YTD
- 2.60%
- 1Y
- 8.68%
- 3Y*
- 6.08%
- 5Y*
- 1.35%
- 10Y*
- 1.01%
- ALL TIME*
- 0.52%
ELD
- 1D
- 0.12%
- 1M
- -0.07%
- 6M
- -0.79%
- YTD
- 1.54%
- 1Y
- 9.44%
- 3Y*
- 6.79%
- 5Y*
- 2.94%
- 10Y*
- 2.47%
- ALL TIME*
- 1.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $341.81K | $470.06K | $1.01M | |
| $8.99M | $7.31M | $6.57M |
LEMB vs. ELD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2.60% | 18.02% | -1.72% | 7.23% | -10.74% | -9.92% | 3.10% | 6.40% | -7.49% | 12.49% |
ELD WisdomTree Emerging Markets Local Debt Fund | 1.54% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
Correlation
The correlation between LEMB and ELD is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.74 |
The correlation between LEMB and ELD has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.
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Return for Risk
LEMB vs. ELD — Risk / Return Rank
LEMB
ELD
LEMB vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) 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.
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.
| LEMB | ELD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.33 | +0.13 |
| Martin ratioReturn relative to average drawdown | 4.65 | 4.23 | +0.42 |
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Drawdowns
LEMB vs. ELD - Drawdown Comparison
The maximum LEMB drawdown since its inception was -30.82%, roughly equal to the maximum ELD drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for LEMB and ELD.
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Drawdown Indicators
| LEMB | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.82% | -31.92% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -6.00% | -7.15% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -8.08% | -9.00% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -23.89% | -22.06% | -1.83% |
Max Drawdown (10Y)Largest decline over 10 years | -29.09% | -25.15% | -3.94% |
Current DrawdownCurrent decline from peak | -3.54% | -1.98% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -13.20% | +0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 2.23% | -0.36% |
Volatility
LEMB vs. ELD - Volatility Comparison
The current volatility for iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) is 1.44%, while WisdomTree Emerging Markets Local Debt Fund (ELD) has a volatility of 2.15%. This indicates that LEMB 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
| LEMB | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 2.15% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 5.62% | 7.42% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.59% | 8.62% | -2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.25% | 10.98% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.16% | 11.18% | -2.02% |
LEMB vs. ELD - Expense Ratio Comparison
LEMB has a 0.30% expense ratio, which is lower than ELD's 0.55% expense ratio.
Dividends
LEMB vs. ELD - Dividend Comparison
LEMB's dividend yield for the trailing twelve months is around 2.38%, less than ELD's 5.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.97% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2.38% | 2.44% | 0.00% | 1.34% | 0.86% | 3.89% | 0.00% | 4.39% | 3.46% | 0.00% | 0.00% | 0.64% |
Frequently Asked Questions
LEMB and ELD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.15%) compared to LEMB (1.44%). In terms of maximum drawdown, LEMB dropped -30.82% vs ELD's -31.92%.
On 10-year performance, ELD leads with 2.47% vs 1.01% for LEMB. On fees, LEMB is cheaper at 0.30% per year. On volatility, LEMB has been the lower-risk option at 1.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ELD has performed better with a 2.47% return vs 1.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LEMB is cheaper with a 0.30% expense ratio, compared with 0.55% for ELD.
ELD has the higher dividend yield at 5.97%, compared with 2.38% for LEMB.
They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.30% for LEMB and 0.55% for ELD.
LEMB currently has the higher Sharpe Ratio (1.33 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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