BWX vs. JIG
BWX (SPDR Bloomberg Barclays International Treasury Bond ETF) and JIG (JPMorgan International Growth ETF) are both exchange-traded funds - BWX is a International Government Bonds fund tracking the Bloomberg Global Treasury x US Capped (Inception 8/31/2007), while JIG is a Foreign Large Cap Equities fund actively managed by JPMorgan. BWX is passively managed, while JIG is actively managed. Over the past 5 years, BWX returned -4.15%/yr vs 3.80%/yr for JIG. At a 0.43 correlation, their price movements are largely independent. BWX charges 0.35%/yr vs 0.55%/yr for JIG.
Performance
BWX vs. JIG - Performance Comparison
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Returns By Period
In the year-to-date period, BWX achieves a -2.00% return, which is significantly lower than JIG's 17.28% return.
BWX
- 1D
- -0.86%
- 1M
- 0.07%
- YTD
- -2.00%
- 6M
- -1.69%
- 1Y
- -2.92%
- 3Y*
- 0.82%
- 5Y*
- -4.15%
- 10Y*
- -1.37%
JIG
- 1D
- 0.00%
- 1M
- 6.44%
- YTD
- 17.28%
- 6M
- 20.72%
- 1Y
- 26.57%
- 3Y*
- 14.76%
- 5Y*
- 3.80%
- 10Y*
- —
BWX vs. JIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | -2.00% | 7.67% | -5.93% | 5.10% | -19.72% | -8.67% | 11.30% |
JIG JPMorgan International Growth ETF | 17.28% | 20.10% | 8.84% | 13.00% | -30.57% | 6.40% | 40.04% |
Correlation
The correlation between BWX and JIG is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.43 |
The correlation between BWX and JIG shifts across timeframes, from 0.43 (5 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BWX vs. JIG — Risk / Return Rank
BWX
JIG
BWX vs. JIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) and JPMorgan International Growth ETF (JIG). 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.
| BWX | JIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.26 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.06 | -2.54 |
| Martin ratioReturn relative to average drawdown | -0.92 | 7.69 | -8.62 |
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Drawdowns
BWX vs. JIG - Drawdown Comparison
The maximum BWX drawdown since its inception was -34.05%, smaller than the maximum JIG drawdown of -43.75%. Use the drawdown chart below to compare losses from any high point for BWX and JIG.
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Drawdown Indicators
| BWX | JIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -43.75% | +9.70% |
Max Drawdown (1Y)Largest decline over 1 year | -6.16% | -12.94% | +6.78% |
Max Drawdown (3Y)Largest decline over 3 years | -10.22% | -16.04% | +5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -30.78% | -43.75% | +12.97% |
Max Drawdown (10Y)Largest decline over 10 years | -34.05% | — | — |
Current DrawdownCurrent decline from peak | -24.05% | -0.62% | -23.43% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -16.68% | +6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 3.46% | -0.30% |
Volatility
BWX vs. JIG - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) is 2.38%, while JPMorgan International Growth ETF (JIG) has a volatility of 8.39%. This indicates that BWX experiences smaller price fluctuations and is considered to be less risky than JIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWX | JIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.38% | 8.39% | -6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 17.61% | -11.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.70% | 19.72% | -12.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.70% | 19.21% | -9.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 19.20% | -10.53% |
BWX vs. JIG - Expense Ratio Comparison
BWX has a 0.35% expense ratio, which is lower than JIG's 0.55% expense ratio.
Dividends
BWX vs. JIG - Dividend Comparison
BWX's dividend yield for the trailing twelve months is around 2.38%, more than JIG's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | 2.38% | 2.19% | 1.99% | 1.63% | 1.23% | 0.93% | 0.95% | 1.16% | 1.07% | 0.46% |
JIG JPMorgan International Growth ETF | 1.92% | 2.25% | 1.70% | 1.69% | 0.91% | 1.35% | 0.04% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BWX and JIG have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JIG has higher volatility (8.39%) compared to BWX (2.38%). In terms of maximum drawdown, BWX dropped -34.05% vs JIG's -43.75%.
On 5-year performance, JIG leads with 3.80% vs -4.15% for BWX. On fees, BWX is cheaper at 0.35% per year. On volatility, BWX has been the lower-risk option at 2.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JIG has performed better with a 3.80% return vs -4.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BWX is cheaper with a 0.35% expense ratio, compared with 0.55% for JIG.
BWX has the higher dividend yield at 2.38%, compared with 1.92% for JIG.
BWX is categorized as International Government Bonds, while JIG is Foreign Large Cap Equities. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.35% for BWX and 0.55% for JIG.
JIG currently has the higher Sharpe Ratio (1.36 vs -0.38), 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.
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