VWOB vs. ELD
VWOB (Vanguard Emerging Markets Government Bond ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both Emerging Markets Bonds funds. VWOB is passively managed, while ELD is actively managed. Over the past 10 years, VWOB returned 3.53%/yr vs 2.78%/yr for ELD. At a 0.50 correlation, their price movements are largely independent. VWOB charges 0.20%/yr vs 0.55%/yr for ELD.
Performance
VWOB vs. ELD - Performance Comparison
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Returns By Period
In the year-to-date period, VWOB achieves a 1.79% return, which is significantly higher than ELD's 0.84% return. Over the past 10 years, VWOB has outperformed ELD with an annualized return of 3.53%, while ELD has yielded a comparatively lower 2.78% annualized return.
VWOB
- 1D
- 0.24%
- 1M
- 0.94%
- YTD
- 1.79%
- 6M
- 1.96%
- 1Y
- 10.67%
- 3Y*
- 9.30%
- 5Y*
- 2.13%
- 10Y*
- 3.53%
ELD
- 1D
- 0.10%
- 1M
- 0.51%
- YTD
- 0.84%
- 6M
- 2.40%
- 1Y
- 9.96%
- 3Y*
- 7.84%
- 5Y*
- 2.33%
- 10Y*
- 2.78%
VWOB vs. ELD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWOB Vanguard Emerging Markets Government Bond ETF | 1.79% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 8.41% |
ELD WisdomTree Emerging Markets Local Debt Fund | 0.84% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
Correlation
The correlation between VWOB and ELD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013 | 0.50 |
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Return for Risk
VWOB vs. ELD — Risk / Return Rank
VWOB
ELD
VWOB vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) 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.
| VWOB | ELD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.22 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.40 | +0.99 |
| Martin ratioReturn relative to average drawdown | 10.11 | 4.92 | +5.20 |
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
| VWOB | ELD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 1.18 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.21 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.25 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.12 | +0.29 |
Drawdowns
VWOB vs. ELD - Drawdown Comparison
The maximum VWOB drawdown since its inception was -26.98%, smaller than the maximum ELD drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for VWOB and ELD.
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Drawdown Indicators
| VWOB | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.98% | -31.92% | +4.94% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -7.15% | +2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.71% | -10.89% | +3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -26.98% | -23.56% | -3.42% |
Max Drawdown (10Y)Largest decline over 10 years | -26.98% | -25.15% | -1.83% |
Current DrawdownCurrent decline from peak | -0.12% | -2.65% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -13.31% | +8.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 2.03% | -0.97% |
Volatility
VWOB vs. ELD - Volatility Comparison
The current volatility for Vanguard Emerging Markets Government Bond ETF (VWOB) is 1.69%, while WisdomTree Emerging Markets Local Debt Fund (ELD) has a volatility of 2.72%. This indicates that VWOB 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
| VWOB | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 2.72% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 7.12% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 8.50% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.18% | 10.93% | -1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 11.27% | -1.93% |
VWOB vs. ELD - Expense Ratio Comparison
VWOB has a 0.20% expense ratio, which is lower than ELD's 0.55% expense ratio.
Dividends
VWOB vs. ELD - Dividend Comparison
VWOB's dividend yield for the trailing twelve months is around 5.83%, which matches ELD's 5.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD WisdomTree Emerging Markets Local Debt Fund | 5.81% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.83% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
VWOB and ELD have a correlation of 0.45, 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 VWOB (1.69%). In terms of maximum drawdown, VWOB dropped -26.98% vs ELD's -31.92%.
On 10-year performance, VWOB leads with 3.53% vs 2.78% for ELD. On fees, VWOB is cheaper at 0.20% per year. On volatility, VWOB has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VWOB has performed better with a 3.53% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.20% expense ratio, compared with 0.55% for ELD.
VWOB has the higher dividend yield at 5.83%, compared with 5.81% for ELD.
They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.20% for VWOB and 0.55% for ELD.
VWOB currently has the higher Sharpe Ratio (2.09 vs 1.18), 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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