CEMA.L vs. JRCE.L
CEMA.L (iShares MSCI EM Asia UCITS ETF USD Acc) and JRCE.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) are both exchange-traded funds - CEMA.L is a Asia Pacific Equities fund tracking the MSCI EM Asia Index Net, while JRCE.L is a China Equities fund tracking the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, CEMA.L returned 21.86%/yr vs 11.46%/yr for JRCE.L. A 0.59 correlation means they provide meaningful diversification when combined. CEMA.L charges 0.20%/yr vs 0.40%/yr for JRCE.L.
Performance
CEMA.L vs. JRCE.L - Performance Comparison
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Different Trading Currencies
CEMA.L is traded in USD, while JRCE.L is traded in GBp. To make them comparable, the JRCE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CEMA.L achieves a 22.45% return, which is significantly lower than JRCE.L's 10,919.15% return.
CEMA.L
- 1D
- -0.48%
- 1M
- -7.06%
- 6M
- 16.81%
- YTD
- 22.45%
- 1Y
- 40.02%
- 3Y*
- 21.86%
- 5Y*
- 7.43%
- 10Y*
- 10.13%
JRCE.L
- 1D
- 0.00%
- 1M
- -1.05%
- 6M
- 7.30%
- YTD
- 10,919.15%
- 1Y
- 33.87%
- 3Y*
- 11.46%
- 5Y*
- —
- 10Y*
- —
CEMA.L vs. JRCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEMA.L iShares MSCI EM Asia UCITS ETF USD Acc | 22.45% | 33.97% | 12.43% | 6.65% | -19.47% |
JRCE.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 10,919.15% | -98.71% | 9.53% | -13.40% | -19.45% |
Correlation
The correlation between CEMA.L and JRCE.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.59 |
The correlation between CEMA.L and JRCE.L has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.
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Return for Risk
CEMA.L vs. JRCE.L — Risk / Return Rank
CEMA.L
JRCE.L
CEMA.L vs. JRCE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Asia UCITS ETF USD Acc (CEMA.L) and JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.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.
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.
| CEMA.L | JRCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | -261.67 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 88.92 | -87.61 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 0.35 | +2.55 |
| Martin ratioReturn relative to average drawdown | 9.20 | 0.79 | +8.42 |
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Drawdowns
CEMA.L vs. JRCE.L - Drawdown Comparison
The maximum CEMA.L drawdown since its inception was -45.51%, smaller than the maximum JRCE.L drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for CEMA.L and JRCE.L.
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Drawdown Indicators
| CEMA.L | JRCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -99.18% | +53.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.77% | -99.05% | +85.28% |
Max Drawdown (3Y)Largest decline over 3 years | -19.95% | -99.13% | +79.18% |
Max Drawdown (5Y)Largest decline over 5 years | -38.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.51% | — | — |
Current DrawdownCurrent decline from peak | -9.59% | -4.59% | -5.00% |
Average DrawdownAverage peak-to-trough decline | -14.52% | -23.13% | +8.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 43.28% | -38.94% |
Volatility
CEMA.L vs. JRCE.L - Volatility Comparison
iShares MSCI EM Asia UCITS ETF USD Acc (CEMA.L) has a higher volatility of 10.19% compared to JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.L) at 8.89%. This indicates that CEMA.L's price experiences larger fluctuations and is considered to be riskier than JRCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMA.L | JRCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 8.89% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 21.60% | 654.42% | -632.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.77% | 26,048.73% | -26,024.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.87% | 12,524.11% | -12,503.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.15% | 12,524.11% | -12,503.96% |
CEMA.L vs. JRCE.L - Expense Ratio Comparison
CEMA.L has a 0.20% expense ratio, which is lower than JRCE.L's 0.40% expense ratio.
Dividends
CEMA.L vs. JRCE.L - Dividend Comparison
Neither CEMA.L nor JRCE.L has paid dividends to shareholders.
Frequently Asked Questions
CEMA.L and JRCE.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMA.L is cheaper with a 0.20% expense ratio, compared with 0.40% for JRCE.L.
CEMA.L is categorized as Asia Pacific Equities, while JRCE.L is China Equities. CEMA.L tracks MSCI EM Asia Index Net, while JRCE.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.20% for CEMA.L and 0.40% for JRCE.L.
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