BBEU vs. FEDM

Last updated Jun 5, 2026

BBEU (JPMorgan BetaBuilders Europe ETF) and FEDM (FlexShares ESG & Climate Developed Markets ex-US Core Index Fund) are both exchange-traded funds - BBEU is a Europe Equities fund tracking the Morningstar Developed Europe Target Market Exposure Index, while FEDM is a Foreign Large Cap Equities fund tracking the Northern Trust ESG & Climate Developed Markets ex-US Core Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, BBEU returned 17.22%/yr vs 14.54%/yr for FEDM. Their correlation of 0.95 suggests significant overlap in exposure. BBEU charges 0.09%/yr vs 0.12%/yr for FEDM.

Performance

BBEU vs. FEDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Europe ETF (BBEU) and FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BBEU having a 6.77% return and FEDM slightly higher at 6.95%.

BBEU

• 1D: 1.18%
• 1M: 2.36%
• YTD: 6.77%
• 6M: 9.98%
• 1Y: 18.96%
• 3Y*: 17.22%
• 5Y*: 9.03%
• 10Y*: —

FEDM

• 1D: 0.86%
• 1M: 2.92%
• YTD: 6.95%
• 6M: 8.83%
• 1Y: 16.72%
• 3Y*: 14.54%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBEU vs. FEDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BBEU JPMorgan BetaBuilders Europe ETF	6.77%	36.37%	1.85%	20.31%	-14.72%	3.71%
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund	6.95%	26.85%	2.85%	17.39%	-15.25%	1.87%

Correlation

The correlation between BBEU and FEDM is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.95

The correlation between BBEU and FEDM has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.

BBEU vs. FEDM - Sectors Allocation Comparison

Sectors	BBEU	FEDM
Financial Services	21.8%	27.1%
Industrials	14.8%	17.8%
Healthcare	10.7%	10.0%
Consumer Defensive	8.4%	7.1%
Technology	7.7%	10.9%
Consumer Cyclical	4.7%	5.7%
Basic Materials	4.5%	5.9%
Energy	3.4%	5.7%
Utilities	3.0%	3.5%
Communication Services	2.8%	4.6%
Real Estate	0.3%	1.8%

Return for Risk

BBEU vs. FEDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBEU

BBEU Risk / Return Rank: 34
BBEU Sharpe Ratio Rank: 35
BBEU Sortino Ratio Rank: 35
BBEU Omega Ratio Rank: 33
BBEU Calmar Ratio Rank: 32
BBEU Martin Ratio Rank: 38

FEDM

FEDM Risk / Return Rank: 30
FEDM Sharpe Ratio Rank: 29
FEDM Sortino Ratio Rank: 30
FEDM Omega Ratio Rank: 29
FEDM Calmar Ratio Rank: 29
FEDM Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBEU vs. FEDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Europe ETF (BBEU) and FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM). 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.

	BBEU	FEDM	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.04	+0.19
Sortino ratio: Return per unit of downside risk	1.79	1.57	+0.22
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.56	1.41	+0.15
Martin ratio: Return relative to average drawdown	5.78	5.07	+0.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBEU vs. FEDM - Sharpe Ratio Comparison

The current BBEU Sharpe Ratio is 1.23, which is comparable to the FEDM Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of BBEU and FEDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBEU	FEDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.04	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.47	+0.01

Drawdowns

BBEU vs. FEDM - Drawdown Comparison

The maximum BBEU drawdown since its inception was -36.27%, which is greater than FEDM's maximum drawdown of -29.37%. Use the drawdown chart below to compare losses from any high point for BBEU and FEDM.

Drawdown Indicators

	BBEU	FEDM	Difference
Max Drawdown Largest peak-to-trough decline	-36.27%	-29.37%	-6.90%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-11.92%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-14.23%	-14.24%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-31.08%	—	—
Current Drawdown Current decline from peak	-1.50%	-1.16%	-0.34%
Average Drawdown Average peak-to-trough decline	-6.14%	-6.99%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.30%	-0.01%

Volatility

BBEU vs. FEDM - Volatility Comparison

JPMorgan BetaBuilders Europe ETF (BBEU) has a higher volatility of 5.55% compared to FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) at 4.71%. This indicates that BBEU's price experiences larger fluctuations and is considered to be riskier than FEDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBEU	FEDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	4.71%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	12.47%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	16.14%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	16.46%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	16.46%	+2.86%

BBEU vs. FEDM - Expense Ratio Comparison

BBEU has a 0.09% expense ratio, which is lower than FEDM's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBEU vs. FEDM - Dividend Comparison

BBEU's dividend yield for the trailing twelve months is around 2.78%, which matches FEDM's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBEU JPMorgan BetaBuilders Europe ETF	2.78%	2.83%	4.16%	2.94%	4.72%	2.63%	2.29%	3.24%	0.49%
FEDM FlexShares ESG & Climate Developed Markets ex-US Core Index Fund	2.80%	2.97%	2.94%	2.61%	2.53%	0.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBEU and FEDM in my portfolio?

BBEU and FEDM have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBEU or FEDM?

BBEU has higher volatility (5.55%) compared to FEDM (4.71%). In terms of maximum drawdown, BBEU dropped -36.27% vs FEDM's -29.37%.

Which ETF is better, BBEU or FEDM?

On 3-year performance, BBEU leads with 17.22% vs 14.54% for FEDM. On fees, BBEU is cheaper at 0.09% per year. On volatility, FEDM has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBEU or FEDM?

Over the 3-year period, BBEU has performed better with a 17.22% return vs 14.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBEU or FEDM?

BBEU is cheaper with a 0.09% expense ratio, compared with 0.12% for FEDM.

Which ETF pays a higher dividend yield, BBEU or FEDM?

FEDM has the higher dividend yield at 2.80%, compared with 2.78% for BBEU.

What is the main difference between BBEU and FEDM?

BBEU is categorized as Europe Equities, while FEDM is Foreign Large Cap Equities. BBEU tracks Morningstar Developed Europe Target Market Exposure Index, while FEDM tracks Northern Trust ESG & Climate Developed Markets ex-US Core Index - Benchmark TR Net. They also come from different issuers: JPMorgan and FlexShares. Their fees differ too: 0.09% for BBEU and 0.12% for FEDM.

Which has better risk-adjusted returns?

BBEU currently has the higher Sharpe Ratio (1.23 vs 1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.