AHYE.DE vs. JBEM.DE
AHYE.DE (Amundi Euro High Yield Bond ESG UCITS ETF EUR) and JBEM.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF) are both exchange-traded funds - AHYE.DE is a European High Yield Bonds fund tracking the iBoxx MSCI ESG EUR High Yield Corporates, while JBEM.DE is a European Government Bonds fund tracking the J.P. Morgan ESG EMU Government Bond IG Index. Both are passively managed. Over the past 5 years, AHYE.DE returned 1.91%/yr vs -2.75%/yr for JBEM.DE. At a 0.22 correlation, their price movements are largely independent. AHYE.DE charges 0.40%/yr vs 0.15%/yr for JBEM.DE.
Performance
AHYE.DE vs. JBEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AHYE.DE achieves a 0.89% return, which is significantly higher than JBEM.DE's -0.32% return.
AHYE.DE
- 1D
- -0.06%
- 1M
- -0.04%
- 6M
- 0.64%
- YTD
- 0.89%
- 1Y
- 3.11%
- 3Y*
- 6.09%
- 5Y*
- 1.91%
- 10Y*
- 2.80%
JBEM.DE
- 1D
- -0.21%
- 1M
- -1.15%
- 6M
- -0.94%
- YTD
- -0.32%
- 1Y
- -0.11%
- 3Y*
- 2.06%
- 5Y*
- -2.75%
- 10Y*
- —
AHYE.DE vs. JBEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AHYE.DE Amundi Euro High Yield Bond ESG UCITS ETF EUR | 0.89% | 5.51% | 5.40% | 10.19% | -10.53% | 0.94% | 1.40% | 7.28% |
JBEM.DE BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF | -0.32% | 0.42% | 1.18% | 6.64% | -18.24% | -3.43% | 4.73% | 6.12% |
Correlation
The correlation between AHYE.DE and JBEM.DE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.22 |
Over the past year, AHYE.DE and JBEM.DE have become more correlated (0.51) than their long-term average of 0.22, meaning their price movements have been converging.
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Return for Risk
AHYE.DE vs. JBEM.DE — Risk / Return Rank
AHYE.DE
JBEM.DE
AHYE.DE vs. JBEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Euro High Yield Bond ESG UCITS ETF EUR (AHYE.DE) and BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AHYE.DE | JBEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.00 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | -0.03 | +0.99 |
| Martin ratioReturn relative to average drawdown | 3.89 | -0.08 | +3.97 |
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Drawdowns
AHYE.DE vs. JBEM.DE - Drawdown Comparison
The maximum AHYE.DE drawdown since its inception was -23.41%, roughly equal to the maximum JBEM.DE drawdown of -22.48%. Use the drawdown chart below to compare losses from any high point for AHYE.DE and JBEM.DE.
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Drawdown Indicators
| AHYE.DE | JBEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.41% | -22.48% | -0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.21% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | -3.95% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -16.72% | -21.49% | +4.77% |
Max Drawdown (10Y)Largest decline over 10 years | -23.41% | — | — |
Current DrawdownCurrent decline from peak | -0.51% | -15.11% | +14.60% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -10.62% | +7.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.39% | -0.59% |
Volatility
AHYE.DE vs. JBEM.DE - Volatility Comparison
The current volatility for Amundi Euro High Yield Bond ESG UCITS ETF EUR (AHYE.DE) is 0.55%, while BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE) has a volatility of 1.08%. This indicates that AHYE.DE experiences smaller price fluctuations and is considered to be less risky than JBEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AHYE.DE | JBEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 1.08% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 3.53% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.16% | 4.23% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.57% | 6.18% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.64% | 5.71% | +0.93% |
AHYE.DE vs. JBEM.DE - Expense Ratio Comparison
AHYE.DE has a 0.40% expense ratio, which is higher than JBEM.DE's 0.15% expense ratio.
Dividends
AHYE.DE vs. JBEM.DE - Dividend Comparison
Neither AHYE.DE nor JBEM.DE has paid dividends to shareholders.
Frequently Asked Questions
AHYE.DE and JBEM.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JBEM.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JBEM.DE is cheaper with a 0.15% expense ratio, compared with 0.40% for AHYE.DE.
AHYE.DE is categorized as European High Yield Bonds, while JBEM.DE is European Government Bonds. AHYE.DE tracks iBoxx MSCI ESG EUR High Yield Corporates, while JBEM.DE tracks J.P. Morgan ESG EMU Government Bond IG Index. They also come from different issuers: Amundi and BNP Paribas Easy. Their fees differ too: 0.40% for AHYE.DE and 0.15% for JBEM.DE.
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