BBM3.L vs. JPGL.L
BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) and JPGL.L (JPM Global Equity Multi-Factor UCITS ETF USD Acc) are both exchange-traded funds - BBM3.L is a Government Bonds fund tracking the ICE 0-3 Month US Treasury Notes & Bills Index, while JPGL.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, BBM3.L returned 4.56%/yr vs 10.40%/yr for JPGL.L. At a correlation of -0.04, they often move in opposite directions. BBM3.L charges 0.07%/yr vs 0.19%/yr for JPGL.L.
Performance
BBM3.L vs. JPGL.L - Performance Comparison
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Different Trading Currencies
BBM3.L is traded in GBP, while JPGL.L is traded in USD. To make them comparable, the JPGL.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, BBM3.L achieves a 1.63% return, which is significantly lower than JPGL.L's 10.85% return.
BBM3.L
- 1D
- 0.09%
- 1M
- 1.32%
- YTD
- 1.63%
- 6M
- 1.18%
- 1Y
- 4.93%
- 3Y*
- 1.97%
- 5Y*
- 4.56%
- 10Y*
- —
JPGL.L
- 1D
- 0.63%
- 1M
- 3.06%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 22.77%
- 3Y*
- 13.86%
- 5Y*
- 10.40%
- 10Y*
- —
BBM3.L vs. JPGL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.63% | -2.96% | 7.04% | -0.79% | 13.68% | 4.38% |
JPGL.L JPM Global Equity Multi-Factor UCITS ETF USD Acc | 10.85% | 9.80% | 12.27% | 7.60% | 0.48% | 23.11% |
Correlation
The correlation between BBM3.L and JPGL.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.04 |
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Return for Risk
BBM3.L vs. JPGL.L — Risk / Return Rank
BBM3.L
JPGL.L
BBM3.L vs. JPGL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) and JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.L). 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.
| BBM3.L | JPGL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.43 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 3.99 | -2.90 |
| Martin ratioReturn relative to average drawdown | 2.71 | 15.49 | -12.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBM3.L | JPGL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 2.39 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.84 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.64 | -0.14 |
Drawdowns
BBM3.L vs. JPGL.L - Drawdown Comparison
The maximum BBM3.L drawdown since its inception was -15.27%, smaller than the maximum JPGL.L drawdown of -28.18%. Use the drawdown chart below to compare losses from any high point for BBM3.L and JPGL.L.
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Drawdown Indicators
| BBM3.L | JPGL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.27% | -28.18% | +12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -5.75% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -13.93% | +4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -15.27% | -13.93% | -1.34% |
Current DrawdownCurrent decline from peak | -5.65% | 0.00% | -5.65% |
Average DrawdownAverage peak-to-trough decline | -6.31% | -3.37% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.48% | +0.33% |
Volatility
BBM3.L vs. JPGL.L - Volatility Comparison
The current volatility for JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) is 1.89%, while JPM Global Equity Multi-Factor UCITS ETF USD Acc (JPGL.L) has a volatility of 2.80%. This indicates that BBM3.L experiences smaller price fluctuations and is considered to be less risky than JPGL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBM3.L | JPGL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 2.80% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 7.48% | -2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 9.58% | -3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 12.31% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 15.03% | -6.65% |
BBM3.L vs. JPGL.L - Expense Ratio Comparison
BBM3.L has a 0.07% expense ratio, which is lower than JPGL.L's 0.19% 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
BBM3.L vs. JPGL.L - Dividend Comparison
Neither BBM3.L nor JPGL.L has paid dividends to shareholders.
Frequently Asked Questions
BBM3.L and JPGL.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBM3.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBM3.L is cheaper with a 0.07% expense ratio, compared with 0.19% for JPGL.L.
BBM3.L is categorized as Government Bonds, while JPGL.L is Global Equities. BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index, while JPGL.L tracks MSCI ACWI NR USD. Their fees differ too: 0.07% for BBM3.L and 0.19% for JPGL.L.
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