BBJP vs. BBAX

Last updated Aug 2, 2026

BBJP (JPMorgan BetaBuilders Japan ETF) and BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) are both exchange-traded funds - BBJP is a Japan Equities fund tracking the Morningstar Japan Target Market Exposure Index, while BBAX is a Asia Pacific Equities fund tracking the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, BBJP returned 9.16%/yr vs 6.75%/yr for BBAX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.19% expense ratio.

Performance

BBJP vs. BBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Japan ETF (BBJP) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBJP achieves a 13.15% return, which is significantly lower than BBAX's 15.03% return.

BBJP

• 1D: -1.02%
• 1M: -0.85%
• 6M: 6.68%
• YTD: 13.15%
• 1Y: 28.43%
• 3Y*: 16.88%
• 5Y*: 9.16%
• 10Y*: —
• ALL TIME*: 7.77%

BBAX

• 1D: -1.35%
• 1M: 6.08%
• 6M: 7.30%
• YTD: 15.03%
• 1Y: 21.39%
• 3Y*: 13.55%
• 5Y*: 6.75%
• 10Y*: —
• ALL TIME*: 7.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	$14.49M	$15.50M	$15.90M
BBJP JPMorgan BetaBuilders Japan ETF	$141.13M	$109.57M	$116.57M

BBJP vs. BBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBJP JPMorgan BetaBuilders Japan ETF	13.15%	26.55%	7.47%	20.65%	-17.24%	1.21%	15.42%	18.85%	-12.33%
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	15.03%	20.21%	2.50%	5.60%	-4.80%	5.53%	8.02%	18.66%	-9.65%

Correlation

The correlation between BBJP and BBAX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.69

The correlation between BBJP and BBAX has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

BBJP vs. BBAX - Sectors Allocation Comparison

Sectors	BBJP	BBAX
Industrials	25.8%	8.2%
Technology	21.5%	0.2%
Financial Services	19.9%	45.5%
Consumer Cyclical	10.5%	5.7%
Healthcare	5.8%	4.9%
Communication Services	4.5%	2.5%
Basic Materials	3.9%	16.4%
Consumer Defensive	3.6%	3.4%
Real Estate	2.1%	7.6%
Utilities	1.0%	3.2%
Energy	0.9%	2.5%

Return for Risk

BBJP vs. BBAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBJP

BBJP Risk / Return Rank: 61
BBJP Sharpe Ratio Rank: 61
BBJP Sortino Ratio Rank: 61
BBJP Omega Ratio Rank: 63
BBJP Calmar Ratio Rank: 62
BBJP Martin Ratio Rank: 59

BBAX

BBAX Risk / Return Rank: 59
BBAX Sharpe Ratio Rank: 59
BBAX Sortino Ratio Rank: 58
BBAX Omega Ratio Rank: 57
BBAX Calmar Ratio Rank: 67
BBAX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBJP vs. BBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). 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.

	BBJP	BBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.40	+0.02
Sortino ratio: Return per unit of downside risk	2.04	1.98	+0.06
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	2.16	2.34	-0.18
Martin ratio: Return relative to average drawdown	6.93	6.74	+0.18

BBJP vs. BBAX - Sharpe Ratio Comparison

The current BBJP Sharpe Ratio is 1.43, which is comparable to the BBAX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of BBJP and BBAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBJP vs. BBAX - Drawdown Comparison

The maximum BBJP drawdown since its inception was -32.66%, smaller than the maximum BBAX drawdown of -39.64%. Use the drawdown chart below to compare losses from any high point for BBJP and BBAX.

Drawdown Indicators

	BBJP	BBAX	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-39.64%	+6.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-9.01%	-4.59%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	-20.12%	+5.63%
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	-23.21%	-9.45%
Current Drawdown Current decline from peak	-4.56%	-1.35%	-3.21%
Average Drawdown Average peak-to-trough decline	-8.43%	-7.14%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	3.12%	+1.12%

Volatility

BBJP vs. BBAX - Volatility Comparison

JPMorgan BetaBuilders Japan ETF (BBJP) has a higher volatility of 7.62% compared to JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) at 3.97%. This indicates that BBJP's price experiences larger fluctuations and is considered to be riskier than BBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBJP	BBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	3.97%	+3.65%
Volatility (6M) Calculated over the trailing 6-month period	17.40%	12.65%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	20.65%	15.08%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.56%	17.39%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	19.62%	-1.15%

BBJP vs. BBAX - Expense Ratio Comparison

Both BBJP and BBAX have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BBJP vs. BBAX - Dividend Comparison

BBJP's dividend yield for the trailing twelve months is around 4.74%, more than BBAX's 3.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	3.53%	3.86%	4.13%	4.17%	5.06%	5.47%	2.57%	4.07%	1.36%
BBJP JPMorgan BetaBuilders Japan ETF	4.74%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%

Frequently Asked Questions

Can I hold both BBJP and BBAX in my portfolio?

BBJP and BBAX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBJP or BBAX?

BBJP has higher volatility (7.62%) compared to BBAX (3.97%). In terms of maximum drawdown, BBJP dropped -32.66% vs BBAX's -39.64%.

Which ETF is better, BBJP or BBAX?

On 5-year performance, BBJP leads with 9.16% vs 6.75% for BBAX. Both ETFs have the same 0.19% expense ratio. On volatility, BBAX has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBJP or BBAX?

Over the 5-year period, BBJP has performed better with a 9.16% return vs 6.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBJP or BBAX?

BBJP and BBAX have the same expense ratio: 0.19% per year.

Which ETF pays a higher dividend yield, BBJP or BBAX?

BBJP has the higher dividend yield at 4.74%, compared with 3.53% for BBAX.

What is the main difference between BBJP and BBAX?

BBJP is categorized as Japan Equities, while BBAX is Asia Pacific Equities. BBJP tracks Morningstar Japan Target Market Exposure Index, while BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index.

Which has better risk-adjusted returns?

BBJP currently has the higher Sharpe Ratio (1.43 vs 1.40), 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.