NNRG.NEO vs. EMLC
NNRG.NEO (Ninepoint Energy ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - NNRG.NEO is a Energy Equities fund tracking the S&P/TSX Capped Energy Total Return 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, NNRG.NEO returned 34.11%/yr vs 4.11%/yr for EMLC. At a correlation of -0.10, they often move in opposite directions. NNRG.NEO charges 1.79%/yr vs 0.30%/yr for EMLC.
Performance
NNRG.NEO vs. EMLC - Performance Comparison
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Different Trading Currencies
NNRG.NEO is traded in CAD, while EMLC is traded in USD. To make them comparable, the EMLC values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NNRG.NEO achieves a 47.23% return, which is significantly higher than EMLC's 2.43% return.
NNRG.NEO
- 1D
- 1.12%
- 1M
- -0.66%
- YTD
- 47.23%
- 6M
- 39.75%
- 1Y
- 71.20%
- 3Y*
- 26.98%
- 5Y*
- 34.11%
- 10Y*
- —
EMLC
- 1D
- 0.22%
- 1M
- 2.98%
- YTD
- 2.43%
- 6M
- 1.75%
- 1Y
- 11.08%
- 3Y*
- 8.03%
- 5Y*
- 4.11%
- 10Y*
- 2.96%
NNRG.NEO vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NNRG.NEO Ninepoint Energy ETF | 47.23% | 19.14% | 13.26% | -4.21% | 66.18% | 55.91% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 2.43% | 13.36% | 5.37% | 8.73% | -4.21% | -2.70% |
Correlation
The correlation between NNRG.NEO and EMLC is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | -0.10 |
The correlation between NNRG.NEO and EMLC shifts across timeframes, from -0.18 (1 year) to -0.03 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NNRG.NEO vs. EMLC — Risk / Return Rank
NNRG.NEO
EMLC
NNRG.NEO vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ninepoint Energy ETF (NNRG.NEO) 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.
| NNRG.NEO | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.35 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 6.60 | 2.02 | +4.58 |
| Martin ratioReturn relative to average drawdown | 13.91 | 6.92 | +6.99 |
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
| NNRG.NEO | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.92 | 1.76 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.55 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.36 | +0.72 |
Drawdowns
NNRG.NEO vs. EMLC - Drawdown Comparison
The maximum NNRG.NEO drawdown since its inception was -35.78%, which is greater than EMLC's maximum drawdown of -23.42%. Use the drawdown chart below to compare losses from any high point for NNRG.NEO and EMLC.
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Drawdown Indicators
| NNRG.NEO | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.78% | -23.42% | -12.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.84% | -5.52% | -5.32% |
Max Drawdown (3Y)Largest decline over 3 years | -23.52% | -6.17% | -17.35% |
Max Drawdown (5Y)Largest decline over 5 years | -35.78% | -19.15% | -16.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.42% | — |
Current DrawdownCurrent decline from peak | -3.63% | -0.66% | -2.97% |
Average DrawdownAverage peak-to-trough decline | -9.58% | -5.65% | -3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 1.61% | +3.53% |
Volatility
NNRG.NEO vs. EMLC - Volatility Comparison
Ninepoint Energy ETF (NNRG.NEO) has a higher volatility of 10.30% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.08%. This indicates that NNRG.NEO'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
| NNRG.NEO | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.30% | 2.08% | +8.22% |
Volatility (6M)Calculated over the trailing 6-month period | 20.65% | 5.62% | +15.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.55% | 6.33% | +18.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.60% | 7.56% | +27.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 8.25% | +26.30% |
NNRG.NEO vs. EMLC - Expense Ratio Comparison
NNRG.NEO has a 1.79% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
NNRG.NEO vs. EMLC - Dividend Comparison
NNRG.NEO's dividend yield for the trailing twelve months is around 0.51%, less than EMLC's 6.18% 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 | 6.18% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
NNRG.NEO Ninepoint Energy ETF | 0.51% | 0.37% | 0.39% | 0.38% | 9.08% | 1.92% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NNRG.NEO and EMLC have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMLC is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMLC is cheaper with a 0.30% expense ratio, compared with 1.79% for NNRG.NEO.
NNRG.NEO is categorized as Energy Equities, while EMLC is Emerging Markets Bonds. NNRG.NEO tracks S&P/TSX Capped Energy Total Return Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: Ninepoint and VanEck. Their fees differ too: 1.79% for NNRG.NEO and 0.30% for EMLC.
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