VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) Performance
EMLC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.7% since Dec 31, 2025
- 1 year
- +3.5% total return
- 5 years
- +2.4% a year
- 10 years
- +1.7% a year
- Since first price
- +1.1% a year since 2010
EMLC trailing returns vs AGG, TLT, SPY
| Period | EMLC total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.2% | −1.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −0.3% | −3.4% | −1.5% | −3.8% | +7.8% |
| YTD | +0.7% | −4.0% | −1.0% | −3.4% | +12.3% |
| 1 year | +3.5% | −2.7% | −1.1% | −6.9% | +14.4% |
| 3 years | +26.9%+8.3%/yr | +5.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +12.9%+2.4%/yr | −16.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +17.9%+1.7%/yr | −34.0% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +12.4%+0.8%/yr | −51.1% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJul 23, 2010 | +18.9%+1.1%/yr | −51.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EMLC vs AGG
From Jul 23, 2010: EMLC grew to $11,890, AGG to $14,059.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EMLC returns by calendar year
7 of 15 full years positive. Best 2025 (+18.8%), worst 2015 (−15.1%). 2026 is year to date.
EMLC annual returns table
| Year | EMLC | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.7% | −6.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +18.8% | −3.4% | +7.2% | +4.3% | +17.7% |
| 2024 | −3.0% | −7.4% | +1.3% | −8.1% | +24.9% |
| 2023 | +11.2% | −9.1% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.5% | −20.1% | −13.0% | −31.2% | −18.2% |
| 2021 | −9.7% | −11.8% | −1.8% | −4.6% | +28.7% |
| 2020 | +3.1% | −21.0% | +7.5% | +18.2% | +18.3% |
| 2019 | +9.8% | −6.2% | +8.5% | +14.1% | +31.2% |
| 2018 | −7.6% | −17.1% | +0.1% | −1.6% | −4.6% |
| 2017 | +13.8% | −5.5% | +3.6% | +9.2% | +21.7% |
| 2016 | +9.0% | −9.9% | +2.4% | +1.2% | +12.0% |
| 2015 | −15.1% | −17.9% | +0.5% | −1.8% | +1.2% |
| 2014 | −5.1% | −13.6% | +6.0% | +27.3% | +13.5% |
| 2013 | −9.9% | −15.5% | −2.0% | −13.4% | +32.3% |
| 2012 | +16.9% | −9.0% | +3.8% | +2.6% | +16.0% |
| 2011 | −3.1% | −13.8% | +7.7% | +34.0% | +1.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EMLC largest drawdowns
Now 4.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 8, 2013 | −32.3% | Oct 24, 2022 | not yet | 9.5 years | 13.5 years so far |
| Aug 31, 2011 | −13.8% | Oct 4, 2011 | Sep 11, 2012 | 34 days | 1.0 years |
| Nov 4, 2010 | −6.7% | Nov 29, 2010 | Apr 20, 2011 | 25 days | 5 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
EMLC risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | +7.8% | +2.2% | +1.5% | +1.0% |
| Volatility (annualized) | 7.8% | 9.4% | 10.5% | 11.1% |
| Sharpe ratio | 0.45 | -0.10 | -0.02 | 0.02 |
| Sortino ratio | 0.64 | -0.14 | -0.03 | 0.02 |
| Best month | +5.6% | +7.5% | +7.5% | +8.7% |
| Worst month | −5.1% | −5.5% | −11.8% | −11.8% |
| Best 12 months | +19.5% | +19.5% | +19.5% | +19.5% |
| Worst 12 months | −3.0% | −19.9% | −19.9% | −20.9% |
| Positive months | 67% | 57% | 57% | 57% |
| Beta vs S&P 500 | 0.31 | 0.36 | 0.37 | — |
| Correlation with S&P 500 | 0.50 | 0.61 | 0.55 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EMLC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 184 | −20.9% | +2.7% | +19.5% | 56% |
| 3-year (a year) | 160 | −10.2% | −0.3% | +10.6% | 48% |
| 5-year (a year) | 136 | −4.7% | −0.9% | +5.4% | 37% |
| 10-year (a year) | 76 | −3.1% | −0.4% | +3.2% | 37% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
EMLC performance overview
VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) returned +3.5% over the past year and +1.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned +1.1% a year, turning $10,000 into about $11,890. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −32.3%, from May 8, 2013 to Oct 24, 2022; the fund has not yet regained that high. EMLC finished 7 of its 15 full calendar years with a gain; the best year was 2025 (+18.8%) and the worst 2015 (−15.1%). Volatility has been 11.1% a year.
Related: EMLC chart, EMLC dividends, EMLC bond profile. See the EMLC overview for the latest quote and fund facts.
EMLC performance FAQ
What is the EMLC return over the past year?
EMLC returned +3.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.7%.
What is the average annual return of EMLC?
EMLC has returned +2.4% a year over 5 years, +1.7% a year over 10 years, +1.1% a year since July 23, 2010 (total return, distributions reinvested).
How much would $10,000 invested in EMLC be worth?
$10,000 invested in EMLC at its first recorded close on July 23, 2010 would be worth about $11,890 on October 23, 2026 with distributions reinvested.
What was the worst year for EMLC?
The worst calendar year was 2015, with a total return of −15.1%. The best was 2025 at +18.8%.
What is the biggest drawdown of EMLC?
The largest peak-to-trough decline was −32.3% between May 8, 2013 and October 24, 2022. It has not yet recovered to that high; it is 4.4% below its peak.
How volatile is EMLC?
Over the past 3 years EMLC had an annualized volatility of 7.8% and a Sharpe ratio of 0.45 (excess return over 1–3 month T-bills per unit of risk).