EVAL.L vs. JRDE.L

Last updated Jun 25, 2026

EVAL.L (SPDR MSCI Europe Value UCITS ETF) and JRDE.L (JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)) are both Europe Equities funds - EVAL.L tracks the MSCI Europe Value NR EUR while JRDE.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 3 years, EVAL.L returned 21.39%/yr vs 27.44%/yr for JRDE.L. Their correlation of 0.84 suggests significant overlap in exposure. EVAL.L charges 0.20%/yr vs 0.25%/yr for JRDE.L.

Performance

EVAL.L vs. JRDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Europe Value UCITS ETF (EVAL.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EVAL.L is traded in GBP, while JRDE.L is traded in GBp. To make them comparable, the JRDE.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EVAL.L achieves a 11.68% return, which is significantly higher than JRDE.L's 8.81% return.

EVAL.L

• 1D: 0.08%
• 1M: 0.17%
• YTD: 11.68%
• 6M: 12.22%
• 1Y: 33.62%
• 3Y*: 21.39%
• 5Y*: 14.28%
• 10Y*: 12.19%

JRDE.L

• 1D: -0.04%
• 1M: 2.51%
• YTD: 8.81%
• 6M: 9.29%
• 1Y: 67.68%
• 3Y*: 27.44%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVAL.L vs. JRDE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EVAL.L SPDR MSCI Europe Value UCITS ETF	11.68%	41.82%	4.36%	11.01%	1.33%	4.68%
JRDE.L JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)	8.81%	72.46%	2.21%	14.40%	-3.79%	-10.33%

Correlation

The correlation between EVAL.L and JRDE.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021	0.84

The correlation between EVAL.L and JRDE.L has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

EVAL.L vs. JRDE.L - Sectors Allocation Comparison

Sectors	EVAL.L	JRDE.L
Financial Services	21.7%	23.7%
Industrials	17.6%	20.4%
Healthcare	12.8%	13.3%
Technology	12.3%	8.7%
Consumer Defensive	8.4%	7.3%
Consumer Cyclical	6.6%	6.6%
Basic Materials	6.4%	5.2%
Energy	5.1%	5.2%
Utilities	4.6%	6.0%
Communication Services	3.8%	3.6%
Real Estate	0.7%	0.1%

Return for Risk

EVAL.L vs. JRDE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EVAL.L

EVAL.L Risk / Return Rank: 82
EVAL.L Sharpe Ratio Rank: 88
EVAL.L Sortino Ratio Rank: 87
EVAL.L Omega Ratio Rank: 86
EVAL.L Calmar Ratio Rank: 74
EVAL.L Martin Ratio Rank: 74

JRDE.L

JRDE.L Risk / Return Rank: 88
JRDE.L Sharpe Ratio Rank: 59
JRDE.L Sortino Ratio Rank: 98
JRDE.L Omega Ratio Rank: 97
JRDE.L Calmar Ratio Rank: 94
JRDE.L Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVAL.L vs. JRDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (EVAL.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.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.

	EVAL.L	JRDE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.74	+0.80
Sortino ratio: Return per unit of downside risk	3.46	6.96	-3.49
Omega ratio: Gain probability vs. loss probability	1.46	1.93	-0.46
Calmar ratio: Return relative to maximum drawdown	3.31	6.16	-2.84
Martin ratio: Return relative to average drawdown	12.23	21.40	-9.17

EVAL.L vs. JRDE.L - Sharpe Ratio Comparison

The current EVAL.L Sharpe Ratio is 2.54, which is higher than the JRDE.L Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of EVAL.L and JRDE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EVAL.L vs. JRDE.L - Drawdown Comparison

The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than JRDE.L's maximum drawdown of -24.20%. Use the drawdown chart below to compare losses from any high point for EVAL.L and JRDE.L.

Drawdown Indicators

	EVAL.L	JRDE.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.72%	-24.20%	-16.52%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-10.94%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-14.34%	-12.84%	-1.50%
Max Drawdown (5Y) Largest decline over 5 years	-14.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.77%	—	—
Current Drawdown Current decline from peak	-1.24%	-0.90%	-0.34%
Average Drawdown Average peak-to-trough decline	-11.33%	-7.30%	-4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	3.15%	-0.41%

Volatility

EVAL.L vs. JRDE.L - Volatility Comparison

SPDR MSCI Europe Value UCITS ETF (EVAL.L) has a higher volatility of 3.18% compared to JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L) at 2.87%. This indicates that EVAL.L's price experiences larger fluctuations and is considered to be riskier than JRDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVAL.L	JRDE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	2.87%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	10.41%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	38.77%	-25.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	22.85%	-6.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	22.85%	-5.03%

EVAL.L vs. JRDE.L - Expense Ratio Comparison

EVAL.L has a 0.20% expense ratio, which is lower than JRDE.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EVAL.L vs. JRDE.L - Dividend Comparison

EVAL.L has not paid dividends to shareholders, while JRDE.L's dividend yield for the trailing twelve months is around 26.22%.

Position	TTM	2025	2024	2023	2022
EVAL.L SPDR MSCI Europe Value UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%
JRDE.L JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)	26.22%	28.15%	2.68%	1.11%	2.99%

Frequently Asked Questions

Can I hold both EVAL.L and JRDE.L in my portfolio?

EVAL.L and JRDE.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAL.L or JRDE.L?

On fees, EVAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAL.L or JRDE.L?

EVAL.L is cheaper with a 0.20% expense ratio, compared with 0.25% for JRDE.L.

What is the main difference between EVAL.L and JRDE.L?

EVAL.L tracks MSCI Europe Value NR EUR, while JRDE.L tracks MSCI Europe NR EUR. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.20% for EVAL.L and 0.25% for JRDE.L.