EMTL ETF: What Is It? Returns, Fees, Holdings and Alternative ETFs Explained
The State Street DoubleLine Emerging Markets Fixed Income ETF (EMTL) is an actively managed fund that selects emerging market government and corporate bonds. When evaluating its dividends and outlook, the fee burden and credit and currency risks are the key criteria, and comparing it with passive alternatives such as EMB is important.
SubscribeWhat Is the State Street DoubleLine Emerging Markets Fixed Income ETF?
It is an actively managed bond ETF that invests broadly in emerging market government and corporate bonds. Rather than replicating a specific index, it selects bonds based on the judgment of its management team.
It suits investors who want higher interest income and diversification compared with US core bonds, and who can tolerate the credit and currency volatility unique to emerging markets.
It is an ETF run by State Street using an active management approach.
How Does the State Street DoubleLine Emerging Markets Fixed Income ETF Invest?
| Item | Details |
|---|---|
| Benchmark | Emerging market bonds (actively managed) |
| Management style | Active (security selection) |
| Rebalancing frequency | At the managers' discretion |
| Dividend frequency | Monthly |
| Expense ratio | 0.65% |
The fund analyzes credit spreads and the currency environment for emerging market government and corporate bonds, then selects bonds for inclusion. Instead of mechanically replicating an index, it adjusts weightings based on the managers' judgment, so the advisor's bond management skill is reflected in performance.
- Active management specialized in emerging market bonds
- Broad selection spanning government and corporate bonds
State Street DoubleLine Emerging Markets Fixed Income ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) are $67.1M, and the Expense Ratio is 0.65% per year.
Compared with passive bond ETFs, the managers' security selection comes into play, so the fee burden and credit risk should be considered together.
State Street DoubleLine Emerging Markets Fixed Income ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeEmerging market bonds are an asset class that shows large swings depending on US interest rate trends, the strength of the dollar, and the credit conditions of each country. Recently as well, returns have continued to fluctuate with the direction of interest rates and risk appetite.
Fund flows into emerging market bond ETFs respond sensitively to global risk appetite and the direction of the dollar. Money tends to flow in when risk appetite strengthens, while outflow pressure tends to appear during periods of dollar strength or monetary tightening.
State Street DoubleLine Emerging Markets Fixed Income ETF Pros and Cons
Its strengths are the potential for high interest income and active selection, while its weaknesses are the credit and currency risks unique to emerging markets and the fee burden.
💪 Key Strengths
⚠️ Points to Watch
State Street DoubleLine Emerging Markets Fixed Income ETF Alternative ETFs and Related Products
LQD, USHY, HYG, USIG, and SPHY shown in the table are bond ETFs centered on US corporate bonds. They differ in nature because they invest in US credit rather than emerging markets, and their fees and credit risk levels also differ. Lower-fee alternatives in the same emerging market bond category include EMB and VWOB, which focus on dollar-denominated government bonds, and investors who want local currency exposure can also consider products such as EMLC.
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| AU | AngloGold Ashanti Plc | 0.02% | $79.79 | -6.2% | $40.3B | 10.7 | 6% |
 CX | Cemex SAB de CV ADR | 0.02% | $10.70 | -1.2% | $16.2B | 32.4 | 1.33% |
 BSAC | Banco Santander Chile SA ADR | 0.02% | $30.53 | -3.0% | $14.4B | 11.7 | 4.9% |
 BCH | Banco de Chile ADR | 0.02% | $36.55 | -4.5% | $18.5B | 13.9 | 5.86% |
| GFI | Gold Fields Ltd ADR | 0.01% | $32.92 | -6.3% | $29.2B | 6.8 | 6.36% |
| FCX | Freeport-McMoRan Inc | 0.01% | $62.47 | -5.5% | $89.7B | 26.3 | 0.95% |
 NEXA | Nexa Resources SA | 0.01% | $11.08 | -7.7% | $1.5B | 5.3 | 3.28% |
 ARIS | Aris Mining Corp | 0.00% | $14.43 | -9.1% | $3.0B | 10.5 | - |
| EC | Ecopetrol SA ADR | 0.00% | $17.19 | -0.5% | $35.3B | 10.1 | 6.54% |
 VIST | Vista Energy SAB de CV ADR | 0.00% | $70.45 | -1.6% | $7.8B | 9.4 | 0.73% |
State Street DoubleLine Emerging Markets Fixed Income ETF Investor Checkpoints
Here are the points to review before investing in EMTL. Because emerging market bonds are a highly volatile asset class, it is especially important to carefully check credit ratings, currency exposure, fee levels, and liquidity in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense ratio | Check the burden compared with passive bond ETFs | Somewhat high |
| 🌏 Credit risk | Credit conditions of the bonds held | Needs checking |
| 💱 Currency exposure | Weighting of the dollar and local currencies | Needs checking |
| 💧 Liquidity | Daily trading value and bid-ask spread | Small to mid-sized category |
Emerging market bonds are vulnerable to credit downgrades and sudden currency moves, and price declines can be pronounced during risk-off periods. Even with active management, it is hard to avoid a broad market decline.
It is an active product worth considering for investors who want to expand interest income and diversification through emerging market bonds. If cost is the priority, passive alternatives such as EMB and VWOB are options, and if you want active selection, you can consider this ETF.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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