DRGN.L vs. JPEA.L
DRGN.L (L&G China CNY Bond UCITS ETF) and JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds. DRGN.L is actively managed, while JPEA.L is passively managed. Over the past 5 years, DRGN.L returned 2.26%/yr vs 1.96%/yr for JPEA.L. At a 0.33 correlation, their price movements are largely independent. DRGN.L charges 0.30%/yr vs 0.45%/yr for JPEA.L.
Performance
DRGN.L vs. JPEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, DRGN.L achieves a 4.62% return, which is significantly higher than JPEA.L's 1.83% return.
DRGN.L
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.62%
- 6M
- 6.29%
- 1Y
- 8.23%
- 3Y*
- 4.99%
- 5Y*
- 2.26%
- 10Y*
- —
JPEA.L
- 1D
- 0.26%
- 1M
- 1.07%
- YTD
- 1.83%
- 6M
- 2.37%
- 1Y
- 11.43%
- 3Y*
- 9.82%
- 5Y*
- 1.96%
- 10Y*
- —
DRGN.L vs. JPEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 4.62% | 5.43% | 3.15% | 0.46% | -5.32% | 7.15% | 0.87% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 1.83% | 13.77% | 5.72% | 10.89% | -18.56% | -2.19% | 1.56% |
Correlation
The correlation between DRGN.L and JPEA.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.33 |
The correlation between DRGN.L and JPEA.L shifts across timeframes, from 0.27 (3 years) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRGN.L vs. JPEA.L — Risk / Return Rank
DRGN.L
JPEA.L
DRGN.L vs. JPEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G China CNY Bond UCITS ETF (DRGN.L) and iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.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.
| DRGN.L | JPEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.39 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.58 | 2.57 | +3.00 |
| Martin ratioReturn relative to average drawdown | 22.51 | 11.00 | +11.52 |
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
| DRGN.L | JPEA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 2.03 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.22 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.29 | +0.35 |
Drawdowns
DRGN.L vs. JPEA.L - Drawdown Comparison
The maximum DRGN.L drawdown since its inception was -11.71%, smaller than the maximum JPEA.L drawdown of -28.64%. Use the drawdown chart below to compare losses from any high point for DRGN.L and JPEA.L.
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Drawdown Indicators
| DRGN.L | JPEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.71% | -28.64% | +16.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -4.42% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -3.49% | -7.35% | +3.86% |
Max Drawdown (5Y)Largest decline over 5 years | -11.71% | -28.64% | +16.93% |
Current DrawdownCurrent decline from peak | -0.30% | -0.06% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -6.80% | +3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.04% | -0.68% |
Volatility
DRGN.L vs. JPEA.L - Volatility Comparison
The current volatility for L&G China CNY Bond UCITS ETF (DRGN.L) is 1.21%, while iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) has a volatility of 1.91%. This indicates that DRGN.L experiences smaller price fluctuations and is considered to be less risky than JPEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRGN.L | JPEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.91% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 4.55% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 5.63% | -2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.58% | 8.88% | -4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.53% | 10.21% | -5.68% |
DRGN.L vs. JPEA.L - Expense Ratio Comparison
DRGN.L has a 0.30% expense ratio, which is lower than JPEA.L's 0.45% expense ratio.
Dividends
DRGN.L vs. JPEA.L - Dividend Comparison
DRGN.L's dividend yield for the trailing twelve months is around 1.63%, while JPEA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 1.63% | 1.94% | 2.31% | 2.45% | 2.76% | 1.44% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRGN.L and JPEA.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DRGN.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DRGN.L is cheaper with a 0.30% expense ratio, compared with 0.45% for JPEA.L.
They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.30% for DRGN.L and 0.45% for JPEA.L.
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