EMCA.L vs. JPMB.L
EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) and JPMB.L (JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index while JPMB.L tracks the J.P. Morgan Emerging Market Risk Aware Bond Index. Both are passively managed. Over the past 5 years, EMCA.L returned 1.90%/yr vs 1.26%/yr for JPMB.L. A 0.59 correlation means they provide meaningful diversification when combined. EMCA.L charges 0.50%/yr vs 0.39%/yr for JPMB.L.
Performance
EMCA.L vs. JPMB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMCA.L having a 1.49% return and JPMB.L slightly lower at 1.42%.
EMCA.L
- 1D
- -0.15%
- 1M
- -0.44%
- 6M
- 1.04%
- YTD
- 1.49%
- 1Y
- 5.60%
- 3Y*
- 6.82%
- 5Y*
- 1.90%
- 10Y*
- —
JPMB.L
- 1D
- -0.07%
- 1M
- -0.73%
- 6M
- 1.57%
- YTD
- 1.42%
- 1Y
- 9.06%
- 3Y*
- 7.06%
- 5Y*
- 1.26%
- 10Y*
- —
EMCA.L vs. JPMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.49% | 8.60% | 6.21% | 7.96% | -12.09% | -0.51% | 7.04% | 13.77% | 0.89% |
JPMB.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) | 1.42% | 13.29% | 1.97% | 9.51% | -16.15% | -2.40% | 5.30% | 18.66% | -0.87% |
Correlation
The correlation between EMCA.L and JPMB.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.59 |
The correlation between EMCA.L and JPMB.L shifts across timeframes, from 0.50 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMCA.L vs. JPMB.L — Risk / Return Rank
EMCA.L
JPMB.L
EMCA.L vs. JPMB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) and JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) (JPMB.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.
| EMCA.L | JPMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.00 | +0.52 |
| Martin ratioReturn relative to average drawdown | 9.78 | 8.71 | +1.07 |
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Drawdowns
EMCA.L vs. JPMB.L - Drawdown Comparison
The maximum EMCA.L drawdown since its inception was -24.69%, smaller than the maximum JPMB.L drawdown of -26.70%. Use the drawdown chart below to compare losses from any high point for EMCA.L and JPMB.L.
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Drawdown Indicators
| EMCA.L | JPMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.69% | -26.70% | +2.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -4.51% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.58% | -7.27% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -20.14% | -25.95% | +5.81% |
Current DrawdownCurrent decline from peak | -0.59% | -1.01% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -6.95% | +2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 1.04% | -0.47% |
Volatility
EMCA.L vs. JPMB.L - Volatility Comparison
iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) has a higher volatility of 1.06% compared to JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) (JPMB.L) at 1.00%. This indicates that EMCA.L's price experiences larger fluctuations and is considered to be riskier than JPMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCA.L | JPMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.00% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 4.55% | -1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 5.41% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 8.47% | -3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.78% | 9.61% | -0.83% |
EMCA.L vs. JPMB.L - Expense Ratio Comparison
EMCA.L has a 0.50% expense ratio, which is higher than JPMB.L's 0.39% expense ratio.
Dividends
EMCA.L vs. JPMB.L - Dividend Comparison
EMCA.L has not paid dividends to shareholders, while JPMB.L's dividend yield for the trailing twelve months is around 5.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPMB.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) | 5.91% | 5.98% | 5.84% | 5.31% | 5.49% | 4.13% | 4.08% | 4.41% | 4.13% |
Frequently Asked Questions
EMCA.L and JPMB.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPMB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPMB.L is cheaper with a 0.39% expense ratio, compared with 0.50% for EMCA.L.
EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index, while JPMB.L tracks J.P. Morgan Emerging Market Risk Aware Bond Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.50% for EMCA.L and 0.39% for JPMB.L.
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