PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EMGF vs. JPEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMGF vs. JPEM

Last updated Aug 4, 2026
Documentation

EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) and JPEM (J.P. Morgan Diversified Return Emerging Markets Equity ETF) are both Emerging Markets Equities funds - EMGF tracks the MSCI Emerging Markets Diversified Multiple-Factor Index while JPEM tracks the JPMorgan Diversified Factor Emerging Markets Equity Index. Both are passively managed. Over the past 10 years, EMGF returned 9.48%/yr vs 7.03%/yr for JPEM. Their correlation of 0.84 means they have usually moved in the same direction. EMGF charges 0.45%/yr vs 0.44%/yr for JPEM.

Performance

EMGF vs. JPEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EMGF achieves a 19.41% return, which is significantly higher than JPEM's 8.89% return. Over the past 10 years, EMGF has outperformed JPEM with an annualized return of 9.48%, while JPEM has yielded a comparatively lower 7.03% annualized return.

EMGF

1D
0.66%
1M
-2.70%
6M
9.84%
YTD
19.41%
1Y
34.88%
3Y*
21.74%
5Y*
9.15%
10Y*
9.48%
ALL TIME*
10.09%

JPEM

1D
0.44%
1M
3.68%
6M
2.65%
YTD
8.89%
1Y
20.72%
3Y*
13.20%
5Y*
6.95%
10Y*
7.03%
ALL TIME*
5.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EMGF

iShares Edge MSCI Multifactor Emerging Markets ETF
$9.70M$12.21M$11.83M

JPEM

J.P. Morgan Diversified Return Emerging Markets Equity ETF
$758.35K$777.78K$1.09M

EMGF vs. JPEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		19.41%31.41%9.06%10.86%-16.55%6.65%10.27%20.96%-19.71%42.37%
JPEM
J.P. Morgan Diversified Return Emerging Markets Equity ETF		8.89%22.90%4.23%11.01%-9.03%8.11%-0.46%16.21%-10.55%28.80%

Correlation

The correlation between EMGF and JPEM is 0.81, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.81

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.88

Correlation (10Y)
Provides a long-term view across more market conditions.

0.87

Correlation (All Time)
Calculated using the full available price history since Dec 10, 2015

0.84

The correlation between EMGF and JPEM has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

EMGF vs. JPEM - Sectors Allocation Comparison

Sectors
EMGF
JPEM

Technology

42.6%
6.2%

Financial Services

17.8%
20.2%

Consumer Cyclical

8.2%
10.6%

Industrials

7.5%
12.6%

Communication Services

6.4%
8.2%

Basic Materials

5.0%
12.0%

Energy

3.4%
7.0%

Consumer Defensive

3.1%
8.6%

Healthcare

2.7%
3.9%

Utilities

2.2%
8.6%

Real Estate

1.0%
2.2%

Technology

EMGF
42.6%
JPEM
6.2%

Financial Services

EMGF
17.8%
JPEM
20.2%

Consumer Cyclical

EMGF
8.2%
JPEM
10.6%

Industrials

EMGF
7.5%
JPEM
12.6%

Communication Services

EMGF
6.4%
JPEM
8.2%

Basic Materials

EMGF
5.0%
JPEM
12.0%

Energy

EMGF
3.4%
JPEM
7.0%

Consumer Defensive

EMGF
3.1%
JPEM
8.6%

Healthcare

EMGF
2.7%
JPEM
3.9%

Utilities

EMGF
2.2%
JPEM
8.6%

Real Estate

EMGF
1.0%
JPEM
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Edge MSCI Multifactor Emerging Markets ETF

J.P. Morgan Diversified Return Emerging Markets Equity ETF

Often compared with EMGF:
EMGF vs. EEMEMGF vs. SPEMEMGF vs. AVESEMGF vs. FDEMEMGF vs. XCEMEMGF vs. VWOEMGF vs. SPY
Often compared with JPEM:
JPEM vs. VWOJPEM vs. EEMJPEM vs. SCHEJPEM vs. EMQQJPEM vs. EELVJPEM vs. JEPIJPEM vs. GEM

Return for Risk

EMGF vs. JPEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EMGF
EMGF Risk / Return Rank: 6060
Overall Rank
EMGF Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
EMGF Sortino Ratio Rank: 5454
Sortino Ratio Rank
EMGF Omega Ratio Rank: 6161
Omega Ratio Rank
EMGF Calmar Ratio Rank: 6666
Calmar Ratio Rank
EMGF Martin Ratio Rank: 6060
Martin Ratio Rank
JPEM
JPEM Risk / Return Rank: 5858
Overall Rank
JPEM Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
JPEM Sortino Ratio Rank: 6060
Sortino Ratio Rank
JPEM Omega Ratio Rank: 6363
Omega Ratio Rank
JPEM Calmar Ratio Rank: 5454
Calmar Ratio Rank
JPEM Martin Ratio Rank: 5353
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMGF vs. JPEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM). 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.

EMGFJPEMDifference
Sharpe ratioReturn per unit of total volatility
1.45
1.51

-0.06

Sortino ratioReturn per unit of downside risk
1.97
2.11

-0.14

Omega ratioGain probability vs. loss probability

1.27

1.28

0.00

Calmar ratioReturn relative to maximum drawdown

2.40

2.02

+0.38

Martin ratioReturn relative to average drawdown

7.41

6.55

+0.86

EMGF vs. JPEM - Sharpe Ratio Comparison

The current EMGF Sharpe Ratio is 1.45, which is comparable to the JPEM Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of EMGF and JPEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EMGF vs. JPEM - Drawdown Comparison

The maximum EMGF drawdown since its inception was -40.23%, roughly equal to the maximum JPEM drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for EMGF and JPEM.

Loading charts...

Drawdown Indicators

EMGFJPEMDifference

Max Drawdown

Largest peak-to-trough decline

-40.23%

-40.22%

-0.01%

Max Drawdown (1Y)

Largest decline over 1 year

-14.63%

-10.32%

-4.31%

Max Drawdown (3Y)

Largest decline over 3 years

-17.65%

-14.30%

-3.35%

Max Drawdown (5Y)

Largest decline over 5 years

-28.17%

-21.57%

-6.60%

Max Drawdown (10Y)

Largest decline over 10 years

-40.23%

-40.22%

-0.01%

Current Drawdown

Current decline from peak

-10.20%

-1.54%

-8.66%

Average Drawdown

Average peak-to-trough decline

-10.01%

-9.39%

-0.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.72%

3.17%

+1.55%

Volatility

EMGF vs. JPEM - Volatility Comparison

iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a higher volatility of 8.57% compared to J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) at 3.75%. This indicates that EMGF's price experiences larger fluctuations and is considered to be riskier than JPEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EMGFJPEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.57%

3.75%

+4.82%

Volatility (6M)

Calculated over the trailing 6-month period

22.19%

11.97%

+10.22%

Volatility (1Y)

Calculated over the trailing 1-year period

24.23%

13.80%

+10.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.66%

13.58%

+5.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.77%

16.92%

+2.85%

EMGF vs. JPEM - Expense Ratio Comparison

EMGF has a 0.45% expense ratio, which is higher than JPEM's 0.44% expense ratio.

Dividends

EMGF vs. JPEM - Dividend Comparison

EMGF's dividend yield for the trailing twelve months is around 2.11%, less than JPEM's 4.26% yield.

PositionTTM20252024202320222021202020192018201720162015
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		2.11%2.52%3.42%5.94%4.04%2.48%1.95%2.63%2.73%1.94%2.04%0.00%
JPEM
J.P. Morgan Diversified Return Emerging Markets Equity ETF		4.26%4.65%5.12%4.46%4.71%4.40%2.85%3.47%2.79%2.14%1.28%3.22%

Frequently Asked Questions

EMGF and JPEM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMGF has higher volatility (8.57%) compared to JPEM (3.75%). In terms of maximum drawdown, EMGF dropped -40.23% vs JPEM's -40.22%.

On 10-year performance, EMGF leads with 9.48% vs 7.03% for JPEM. On fees, JPEM is cheaper at 0.44% per year. On volatility, JPEM has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EMGF has performed better with a 9.48% return vs 7.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JPEM is cheaper with a 0.44% expense ratio, compared with 0.45% for EMGF.

JPEM has the higher dividend yield at 4.26%, compared with 2.11% for EMGF.

EMGF tracks MSCI Emerging Markets Diversified Multiple-Factor Index, while JPEM tracks JPMorgan Diversified Factor Emerging Markets Equity Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.45% for EMGF and 0.44% for JPEM.

JPEM currently has the higher Sharpe Ratio (1.51 vs 1.45), 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.

Portfolio Optimizer

Find the right allocation for EMGF and JPEM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer