At a glance
ELD charges 0.55% a year, above the 0.42% average of the 7 funds most like it (the 7th cheapest of 8). It has $142.3M in assets, the 7th largest of that group; it paid 7.07% of its price in distributions over the past 12 months, monthly. Over the past year it returned +1.9% with distributions reinvested, 5th of those 8 funds; over three years it returned +8.3% a year. At its worst it fell 22.7% in the 2020 crash (S&P 500: 33.7%) and 17.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months after the low. Its ten largest positions make up 18.8% of the fund, out of 208 in all.
The short version
WisdomTree Emerging Markets Local Debt Fund (ELD) is an actively managed ETF. It buys bonds that emerging market governments such as Indonesia, Brazil, Thailand and South Africa issue in their own currencies, not in US dollars. Its 0.55% expense ratio is higher than the 0.30% charged by larger rivals EMLC, LEMB and EBND. Its trailing yield, paid monthly, was 7.07% as of October 27, 2026.
Price history
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ELD +1.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ELD official prospectus, to Dec 31, 2024 | — | -3.75% | — | -1.69% | +0.21% | — |
| JP Morgan GBI-EM Global Diversified Index Unhedged USD (Reflects no deduction for fees, expenses or taxes) index, same period | — | -2.38% | — | -1.86% | +0.43% | — |
| Index8 index, same period | — | +1.25% | — | -0.33% | +1.35% | — |
| ELD price data to Oct 27, 2026 | -0.5% | +1.9% | +8.3% | +3.3% | +2.3% | +1.2% |
- Over the year to Oct 27, 2026, ELD returned +1.9%, 5th of 8 among similar funds.
- Its 5-year annualized return was +3.3% and its 10-year +2.3%.
- In the 2020 COVID crash it fell 22.7% and regained its old high 8.5 months after the low.
- Its worst full calendar year was 2015 (-13.3%); its best was 2025 (+22.1%).
- The deepest fall in its price history was 31.9% (May 8, 2013 to Jan 20, 2016), recovered by Nov 13, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.5% | — |
| 2025 | +22.1% | — |
| 2024 | -4.5% | -3.75% |
| 2023 | +14.3% | +14.26% |
| 2022 | -9.1% | -9.26% |
| 2021 | -9.7% | -9.52% |
| 2020 | +1.8% | +1.69% |
| 2019 | +13.0% | +12.92% |
| 2018 | -7.5% | -7.73% |
| 2017 | +12.8% | +12.48% |
| 2016 | +9.7% | +9.89% |
| 2015 | -13.3% | -13.64% |
| 2014 | -5.9% | — |
| 2013 | -10.8% | — |
| 2012 | +14.4% | — |
| 2011 | -2.1% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 19.2% over that stretch · deepest drop along the way 22.7%, back to its old high 8.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.3% over that stretch · deepest drop along the way 17%, back to its old high 9.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.5000 | |
| 2025 | $1.6300 | +10.1% |
| 2024 | $1.4800 | +8.8% |
| 2023 | $1.3600 | -2.9% |
| 2022 | $1.4000 | -7.3% |
| 2021 | $1.5100 | -7.9% |
| 2020 | $1.6400 | -9.4% |
| 2019 | $1.8100 | -15.0% |
| 2018 | $2.1300 | +15.8% |
| 2017 | $1.8400 | +2.2% |
| 2016 | $1.8000 | -6.7% |
| 2015 | $1.9300 | +7.2% |
| 2014 | $1.8000 | +0.6% |
| 2013 | $1.7900 | -13.9% |
| 2012 | $2.0800 | -10.7% |
| 2011 | $2.3300 |
What's inside
As of Aug 31, 2026, the fund held 208 securities; the ten largest made up 18.77% of assets.
| Holding | Weight | |
|---|---|---|
| CITIGROUP INC. RA | 7.82% | |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL Bonds and notes | 1.94% | |
| INTERNATIONAL FINANCE CORP Bonds and notes | 1.36% | |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO Bonds and notes | 1.20% | |
| HUNGARY, REPUBLIC OF - MINISTRY OF FINANCE Bonds and notes | 1.19% | |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL Bonds and notes | 1.14% | |
| INTERNATIONAL FINANCE CORP Bonds and notes | 1.13% | |
| SOUTH AFRICA, REPUBLIC OF - NATIONAL TREASURY Bonds and notes | 1.04% | |
| PERU, REPUBLIC OF - DIRECCION GENERAL DE CREDITO PUBLICO Bonds and notes | 1.00% | |
| INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE Bonds and notes | 0.96% | |
| INTERNATIONAL FINANCE CORP Bonds and notes | 0.94% | |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL Bonds and notes | 0.94% | |
| POLAND, REPUBLIC OF - STATE TREASURY Bonds and notes | 0.93% | |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL Bonds and notes | 0.93% | |
| INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE Bonds and notes | 0.85% |
By country
United States 14.28%Indonesia 10.67%Brazil 7.83%Thailand 7.73%South Africa 6.99%By issuer
Foreign governments 88.85%Companies 7.82%The bonds mature in 8.2 years on average (weighted by size), with an average coupon of 6.49%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $7.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.30%, +0.30%, +1.03%.
How it works
ELD does not track an index. WisdomTree Asset Management, the fund's adviser, chooses the holdings. Under normal conditions, at least 80% of net assets goes into "local debt": bonds issued in the currencies of emerging market countries rather than in US dollars. That means returns depend on both bond prices and exchange rates. Issuers are mostly governments and their agencies. The fund owns both investment-grade and lower-rated "junk" bonds.
The adviser sorts countries into tiers using several factors. It favors countries with larger, more liquid bond markets and what it views as sustainable fiscal and monetary policies. Any single country is generally capped at 20% of assets. It targets duration, a measure of how much prices react to interest-rate changes, of two to ten years. Up to 30% of net assets may sit in derivatives, such as currency forwards and swaps, that mimic owning local bonds and are backed by cash or short-term US money market securities.
As of August 31, 2026, the fund had 208 holdings, and the top 10 made up 18.8% of assets. The largest was a 7.8% repurchase agreement with Citigroup, a short-term cash loan backed by collateral. Next came Brazilian government notes and International Finance Corporation notes. Indonesia (10.7%), Brazil (7.8%) and Thailand (7.7%) led by country.
What it really costs
- ELD charges 0.55% a year, versus an average of 0.42% for the similar funds below (7th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $56 in the first year and $689 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ELD | $56 | $176 | $307 | $689 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Currency swings and emerging market credit risk have caused deep, long drops, so it is more suited to a small side position than a core bond holding.
ELD adds bond income and currencies from outside the US. As of October 27, 2026, its trailing yield was 7.07%, paid monthly. Its swings have been large for a bond fund. It launched in 2010, so it has no record for the 2008 crisis. It fell 22.7% in the 2020 COVID crash and took about 8.5 months to recover. It fell 17% in 2022 and took about 9.4 months. Its worst calendar year was 2015, at -13.64%. Its deepest drop was 31.9%, from May 2013 to January 2016, and it didn't recover until November 2025, almost 10 years later. Someone forced to sell during a long slump could lock in losses that the income doesn't make up. The 0.55% expense ratio is above the 0.42% average for similar funds. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a small slice of government bonds priced in currencies such as the Indonesian rupiah, Brazilian real and Thai baht.
- Income seekers who can handle swings and value monthly payouts; the trailing yield was 7.07% as of October 27, 2026.
- Those who prefer an active manager ranking countries on fiscal and monetary policy, capped at 20% per country, over an index-copying approach.
Look elsewhere if
- Cost-focused investors: ELD charges 0.55% a year, while EMLC, LEMB and EBND each charge 0.30%.
- Anyone who may need to sell in a downturn: its 31.9% drop, which began in 2013, took nearly 10 years to recover.
- Those wanting emerging market bonds without local-currency risk may compare dollar-denominated funds such as EMB or JPMB, which follow a different strategy.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ELD this fund | 8.2 yrs | 0.55% | $142.3M | +1.9% | +8.3% |
| EBND SPDR Bloomberg Emerging Markets Local Bond … | 8.8 yrs | 0.3% | $2.26B | +2.1% | +7.7% |
| LEMB iShares J.P. Morgan EM Local Currency Bond … | 7.5 yrs | 0.3% | $715.4M | +3.8% | +8.3% |
| EMLC VanEck J. P. Morgan EM Local Currency Bond … | 7.5 yrs | 0.3% | $4.87B | +2.5% | +7.7% |
| FEMB First Trust Emerging Markets Local Currency… | 7.1 yrs | 0.85% | $361.9M | +2.8% | +8.2% |
| EMBD Global X Emerging Markets Bond ETF | 9.2 yrs | 0.39% | $248.4M | +0.3% | +9.8% |
| JPMB JPMorgan USD Emerging Markets Sovereign Bon… | 10.9 yrs | 0.39% | $95.1M | -0.4% | +8.5% |
| EMB iShares J.P. Morgan USD Emerging Markets Bo… | 11 yrs | 0.39% | $14.61B | 0.0% | +9.0% |
Questions investors ask
Does ELD pay monthly dividends?
Yes. ELD pays distributions every month. Over the 12 months to October 27, 2026, it paid $1.95 per share, a trailing yield of 7.07%. The income comes mostly from local-currency government bonds with an average coupon of 6.49% as of August 31, 2026. Each payment converts foreign interest into dollars, so the amounts can change as currencies and the fund's holdings change.
What's the difference between ELD and EBND?
EBND is the closest match to ELD by maturity and issuer mix, but it is cheaper and much larger. EBND charges 0.30% compared with ELD's 0.55%. It had $2.26 billion in net assets as of June 30, 2026, against ELD's $142 million as of August 31, 2026. ELD is actively managed, while EBND's name refers to a Bloomberg index. As of October 27, 2026, ELD returned 1.9% over one year versus 2.1% for EBND. Over three years, ELD returned 8.3% a year versus 7.7%.
Is ELD good for retirement income?
ELD can provide high monthly income, but its price has been unstable. The trailing yield was 7.07% as of October 27, 2026. However, the fund fell 22.7% in early 2020 and 17% in 2022. A 31.9% decline that began in 2013 took almost 10 years to recover. For retirees, that history points to a small side position rather than a main source of steady bond income.
How has ELD performed over 10 years?
Weakly. In the prospectus, ELD's average annual return for the 10 years ended December 31, 2024 was 0.21%. Its benchmark, the JP Morgan GBI-EM Global Diversified Index Unhedged USD, returned 0.43% a year. Based on market prices, the 10-year annualized return was 2.3% as of October 27, 2026, boosted by a 22.05% gain in 2025. Several down years, including -9.52% in 2021 and -9.26% in 2022, held back long-term results.
Why is ELD so volatile for a bond fund?
Mostly because of currency and credit risk. ELD holds bonds priced in emerging market currencies. When those currencies fall against the dollar, the fund loses value even if every bond pays on time. It also owns some junk-rated bonds and faces political risks such as capital controls. Its worst quarter was -14.87%, in the first quarter of 2020. Its three-year volatility was 10.4% as of October 27, 2026.