EBND vs WIP: Grades, Fees and Holdings Compared

SPDR Bloomberg Emerging Markets Local Bond ETF

EBNDBNYSE Arca

SPDR FTSE International Government Inflation-Protected Bond ETF

WIPDNYSE Arca

Overlap

No data

Expense ratio

EBND −0.20pt a year

EBND0.30%WIP0.50%

Avg volume · 30D

EBND 5.5×the volume

EBND272KWIP49.4K

10Y return · a year

EBND +0.4pt

EBND+1.4%WIP+1.0%

EBND vs WIP Performance

Oct 29, 2021 – Oct 30, 2026

+7.9%EBND−3.3%WIP

Expense ratio: EBND 0.30%, better; WIP 0.50%
Fund size: EBND $2.24B; WIP $464M
1Y total return: EBND +2.4%; WIP +3.3%, better
Yield (12M): EBND 6.05%; WIP 6.33%, better
Holdings: EBND 648; WIP 195
Avg volume (30D): EBND 272K sh, better; WIP 49.4K sh
NAV per share: EBND $20.51; WIP $38.01
52W range

ETF.net Grade

Pillar letters and Scores for EBND, WIP, with each pillar’s weight
Pillar	EBND	WIP
Cost30% weight	A75Higher	F10
Mission25% weight	A89Higher	A83
Risk15% weight	B62Higher	C41
Tradability15% weight	D36Higher	F13
Holdings10% weight	A71Higher	C51
Durability5% weight	B62Higher	D36

Rank among International Sovereign funds

How we build Categories ›

Same Category. EBND and WIP are both graded against the same 6 International Sovereign funds, so their Grades compare head to head.

International Sovereign⁠

Category · 6 funds

See all 6 ›

EBND ranks 1st and WIP 5th of 6 funds in the International Sovereign Category.

Rank 1BEBNDSPDR Bloomberg Emerging Markets Local Bond ETFScore 69
Rank 2BIGOViShares International Treasury Bond ETFScore 65
Rank 5DGGOViShares Global Government Bond USD Hedged Active ETFScore 38
Rank 5DWIPSPDR FTSE International Government Inflation-Protected Bond ETFScore 38

Our read on each fund

ETF.net Research

EBNDBSPDR Bloomberg Emerging Markets Local Bond ETF

WIPDSPDR FTSE International Government Inflation-Protected Bond ETF

In short

EBND Most international bond funds pay you in dollars. EBND owns emerging-market government debt in the local currency (rupiah, real, peso), so the exchange rate is part of the trade, not hedged away. And it costs less than its group's median.

WIP The ex-US inflation hedge that outlasted its rivals. WIP holds inflation-linked government bonds from developed and emerging markets outside the United States, in local currency, and has done it since 2008.

Stated mandate

EBND The fund seeks to track the Bloomberg EM Local Currency Government Diversified Index and provide exposure to fixed-rate, local-currency sovereign debt issued by emerging-market countries.

WIP The fund seeks to track the FTSE International Inflation-Linked Securities Select Index, investing in inflation-linked government bonds from developed and emerging markets outside the United States.

Why people hold it

EBND At 0.30% a year it undercuts the 0.35% median for international government bond funds, where IGOV, BWX and ISHG each charge 0.35% and WIP asks 0.50%.
Roughly 700 bonds across emerging-market sovereign issuers, so no single government's budget drama sets the tone for the whole portfolio.ssga.com
Running since 2011 and now a multibillion-dollar fund: a long-tenured version of the local-currency trade, not a launch-and-see experiment.
Pays monthly, and the holdings match the label: fixed-rate local-currency sovereign debt tracking the Bloomberg EM Local Currency Government Diversified Index.ssga.com

WIP Fills a real gap: inflation-linked government debt issued outside the US, developed and emerging markets alike. iShares retired its versions in 2016. WIP has run since 2008.sec.gov
Its cohort (IGOV, BWX, ISHG, EBND) buys plain nominal government bonds. WIP buys the inflation-linked kind, where the coupon is tied to an inflation index.ssga.com
Spread across a couple hundred government issues, with cash paid out monthly rather than quarterly.
Sticks to its stated job: it follows the FTSE International Inflation-Linked Securities Select Index closely rather than freelancing around it.

Worth knowing

EBND Unhedged by design. Moves in emerging-market currencies against the dollar land in your return before a single bond does anything.ssga.com
Emerging-market sovereign debt carries credit and policy risk, and local interest rates can shift quickly.
Moderately traded rather than a volume heavyweight, so spreads can run wider than on the busiest bond ETFs.

WIP At 0.50% a year, the priciest ticket in its peer group, where 0.35% is the going rate.
The bonds sit in local currencies, so exchange-rate moves ride along with the inflation link, in both directions.ssga.com
A mid-size fund with moderate volume, so the bid-ask spread is worth checking before trading in size.

Full EBND profile⁠

Full WIP profile⁠

EBND vs WIP Holdings

How EBND and WIP differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile33.1%
Asset classFixed Income100%

Sector

No Sector split for EBND.

Country, concentration and asset class

Country by domicile

Country weights in EBND and WIP, widest gap first
Country	More in EBNDMore in WIP	EBND	WIP
United Kingdom	WIP +18.4 points	0.5%	18.9%
China	EBND +12.9 points	12.9%	0.0%
South Korea	EBND +10.2 points	11.0%	0.8%
South Africa	EBND +9.6 points	18.6%	9.0%
India	EBND +7.4 points	7.4%	0.0%
France	WIP +6.8 points	0.1%	6.9%
Malaysia	EBND +5.9 points	5.9%	0.0%
Italy	WIP +5.9 points	0.0%	5.9%
Other countries (18)	WIP +14.8 points	43.6%	58.4%

Outside the US: EBND 1% developed, 99% emerging. WIP 62% developed, 38% emerging.

Concentration

Weight in the 10 largest Holdings

EBND5.8%
WIP14.6%

Securities held

EBND631
WIP181

Asset class

EBND: Fixed Income
WIP: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. EBND holds 631 securities, WIP 181.

All 669 EBND holdings⁠All 233 WIP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EBND vs WIP Cost

Overpaying WIP vs EBND

$3,830

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EBND 0.30%
$6,149
WIP 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

EBND 0.30%
WIP 0.50%
Overpaying

Year by year

Year	EBND	WIP	Overpaying
10	$545	$900	$355
20	$2,113	$3,460	$1,347
30	$6,149	$9,979	$3,830

Expense ratio

0.30%EBND, cheaper
0.50%WIP

EBND0.30%WIP0.50%

0.30%0.50%

Middle half of International Sovereign funds
Median 0.35%

EBND cheapest of 6 funds

WIP 6th cheapest of 6 funds

EBND vs WIP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EBND 6.05%; WIP 6.33%, better
Payout (12M): EBND $1.24; WIP $2.40
Last payment: EBND $0.10; WIP $0.24
Ex-dividend: EBND Oct 1, 2026; WIP Oct 1, 2026
Paid on: EBND Oct 6, 2026; WIP Oct 6, 2026
Frequency: EBND Monthly; WIP Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

EBNDMonthly · 45 paymentsAll EBND payments⁠

WIPMonthly · 45 paymentsAll WIP payments⁠

EBND vs WIP Risk

Fall from peak · 5 years

EBND
WIP

Risk facts

VolatilityStd dev, 3 years: EBND 7.8%, betterWIP 9.3%
Return per unit of riskSharpe ratio, 3 years: EBND 0.41, betterWIP 0.20
Worst fallMax drawdown, 5 years: EBND −23.3%, betterWIP −27.9%
Market sensitivityBeta, 5 years: EBND 1.23WIP 1.44; Market = 1

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