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VanEck EMLC ETF Offers 6.09 Percent Yield Despite Currency Risks
The VanEck J.P. Morgan EM Local Currency Bond ETF (EMLC) offers an attractive 6.09% yield, drawing income-focused investors, but it carries significant currency risks and has experienced steady capital erosion. The fund invests in emerging market government bonds denominated in local currencies and does not use hedging strategies, exposing investors to currency fluctuations against the U.S. dollar. This lack of hedging and capital decay has led institutional skepticism and a “Sell” rating for the fund, despite its consistent monthly dividend payments.