EMES.L vs. JMAB.L
EMES.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and JMAB.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from iShares and JPMorgan respectively. Both are passively managed. Over the past 5 years, EMES.L returned 1.44%/yr vs 1.58%/yr for JMAB.L. A 0.71 correlation means they provide meaningful diversification when combined. EMES.L charges 0.45%/yr vs 0.39%/yr for JMAB.L.
Performance
EMES.L vs. JMAB.L - Performance Comparison
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Different Trading Currencies
EMES.L is traded in USD, while JMAB.L is traded in GBP. To make them comparable, the JMAB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMES.L achieves a 2.17% return, which is significantly higher than JMAB.L's 2.05% return.
EMES.L
- 1D
- 0.00%
- 1M
- 1.61%
- YTD
- 2.17%
- 6M
- 2.40%
- 1Y
- 10.09%
- 3Y*
- 8.67%
- 5Y*
- 1.44%
- 10Y*
- —
JMAB.L
- 1D
- -0.08%
- 1M
- 1.43%
- YTD
- 2.05%
- 6M
- 2.23%
- 1Y
- 10.10%
- 3Y*
- 7.84%
- 5Y*
- 1.58%
- 10Y*
- —
EMES.L vs. JMAB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 2.17% | 13.20% | 5.29% | 9.74% | -18.86% | -2.66% | 5.54% | 3.01% |
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 2.05% | 13.61% | 1.88% | 8.97% | -16.14% | -2.08% | 4.87% | -20.16% |
Correlation
The correlation between EMES.L and JMAB.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.71 |
The correlation between EMES.L and JMAB.L shifts across timeframes, from 0.57 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMES.L vs. JMAB.L — Risk / Return Rank
EMES.L
JMAB.L
EMES.L vs. JMAB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.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.
| EMES.L | JMAB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.09 | +0.16 |
| Martin ratioReturn relative to average drawdown | 9.16 | 8.94 | +0.22 |
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Drawdowns
EMES.L vs. JMAB.L - Drawdown Comparison
The maximum EMES.L drawdown since its inception was -28.96%, smaller than the maximum JMAB.L drawdown of -39.23%. Use the drawdown chart below to compare losses from any high point for EMES.L and JMAB.L.
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Drawdown Indicators
| EMES.L | JMAB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.96% | -39.23% | +10.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.46% | -4.81% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.23% | -6.49% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -28.96% | -25.91% | -3.05% |
Current DrawdownCurrent decline from peak | -0.23% | -13.16% | +12.93% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -24.44% | +16.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.13% | -0.03% |
Volatility
EMES.L vs. JMAB.L - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) is 1.50%, while JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.L) has a volatility of 1.96%. This indicates that EMES.L experiences smaller price fluctuations and is considered to be less risky than JMAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMES.L | JMAB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.96% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 4.76% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 5.91% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.39% | 17.97% | -9.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 19.33% | -10.05% |
EMES.L vs. JMAB.L - Expense Ratio Comparison
EMES.L has a 0.45% expense ratio, which is higher than JMAB.L's 0.39% expense ratio.
Dividends
EMES.L vs. JMAB.L - Dividend Comparison
EMES.L's dividend yield for the trailing twelve months is around 5.74%, while JMAB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 5.74% | 5.78% | 5.45% | 5.40% | 5.03% | 3.48% | 3.49% | 4.61% | 0.50% |
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMES.L and JMAB.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMAB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMAB.L is cheaper with a 0.39% expense ratio, compared with 0.45% for EMES.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.45% for EMES.L and 0.39% for JMAB.L.
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