FESD.DE vs. JPBM.DE

Last updated Jun 5, 2026

FESD.DE (Fidelity Sustainable USD EM Bond UCITS ETF) and JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) are both Emerging Markets Bonds funds - FESD.DE tracks the Fidelity Sustainable USD EM Bond while JPBM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, FESD.DE returned 1.89%/yr vs 1.97%/yr for JPBM.DE. A 0.75 correlation means they provide meaningful diversification when combined. FESD.DE charges 0.45%/yr vs 0.39%/yr for JPBM.DE.

Performance

FESD.DE vs. JPBM.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FESD.DE achieves a 3.41% return, which is significantly higher than JPBM.DE's 2.71% return.

FESD.DE

• 1D: -0.09%
• 1M: 1.35%
• YTD: 3.41%
• 6M: 3.08%
• 1Y: 9.14%
• 3Y*: 5.13%
• 5Y*: 1.89%
• 10Y*: —

JPBM.DE

• 1D: 0.15%
• 1M: 1.65%
• YTD: 2.71%
• 6M: 1.99%
• 1Y: 8.34%
• 3Y*: 4.41%
• 5Y*: 1.97%
• 10Y*: —

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

FESD.DE vs. JPBM.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF	3.41%	0.21%	8.73%	4.67%	-13.30%	6.35%
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)	2.71%	0.17%	7.28%	5.27%	-10.98%	6.35%

Correlation

The correlation between FESD.DE and JPBM.DE is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021	0.75

The correlation between FESD.DE and JPBM.DE has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

FESD.DE vs. JPBM.DE — Risk / Return Rank

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

FESD.DE

FESD.DE Risk / Return Rank: 43
FESD.DE Sharpe Ratio Rank: 41
FESD.DE Sortino Ratio Rank: 41
FESD.DE Omega Ratio Rank: 43
FESD.DE Calmar Ratio Rank: 51
FESD.DE Martin Ratio Rank: 42

JPBM.DE

JPBM.DE Risk / Return Rank: 45
JPBM.DE Sharpe Ratio Rank: 42
JPBM.DE Sortino Ratio Rank: 41
JPBM.DE Omega Ratio Rank: 42
JPBM.DE Calmar Ratio Rank: 54
JPBM.DE Martin Ratio Rank: 46

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.

FESD.DE vs. JPBM.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE). 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.

	FESD.DE	JPBM.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.43	-0.03
Sortino ratio: Return per unit of downside risk	2.07	2.05	+0.02
Omega ratio: Gain probability vs. loss probability	1.27	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.46	2.66	-0.20
Martin ratio: Return relative to average drawdown	6.56	7.31	-0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FESD.DE vs. JPBM.DE - Sharpe Ratio Comparison

The current FESD.DE Sharpe Ratio is 1.40, which is comparable to the JPBM.DE Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FESD.DE and JPBM.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FESD.DE	JPBM.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.43	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.23	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.30	-0.12

Drawdowns

FESD.DE vs. JPBM.DE - Drawdown Comparison

The maximum FESD.DE drawdown since its inception was -16.01%, smaller than the maximum JPBM.DE drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for FESD.DE and JPBM.DE.

Drawdown Indicators

	FESD.DE	JPBM.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.01%	-25.97%	+9.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.71%	-3.12%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.34%	-12.56%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-16.01%	-14.31%	-1.70%
Current Drawdown Current decline from peak	-0.59%	-2.60%	+2.01%
Average Drawdown Average peak-to-trough decline	-7.16%	-8.34%	+1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.14%	+0.25%

Volatility

FESD.DE vs. JPBM.DE - Volatility Comparison

Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) has a higher volatility of 2.28% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) at 1.12%. This indicates that FESD.DE's price experiences larger fluctuations and is considered to be riskier than JPBM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FESD.DE	JPBM.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	1.12%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	4.57%	3.98%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	6.51%	5.81%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.80%	8.51%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.70%	9.71%	-1.01%

FESD.DE vs. JPBM.DE - Expense Ratio Comparison

FESD.DE has a 0.45% expense ratio, which is higher than JPBM.DE's 0.39% expense ratio.

Dividends

FESD.DE vs. JPBM.DE - Dividend Comparison

FESD.DE's dividend yield for the trailing twelve months is around 6.69%, more than JPBM.DE's 5.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF	6.69%	5.90%	5.86%	5.43%	4.80%	2.01%	0.00%	0.00%	0.00%
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)	5.09%	5.54%	5.26%	5.00%	5.33%	3.35%	3.87%	3.92%	2.69%

Frequently Asked Questions

Can I hold both FESD.DE and JPBM.DE in my portfolio?

FESD.DE and JPBM.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FESD.DE or JPBM.DE?

On fees, JPBM.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FESD.DE or JPBM.DE?

JPBM.DE is cheaper with a 0.39% expense ratio, compared with 0.45% for FESD.DE.

What is the main difference between FESD.DE and JPBM.DE?

FESD.DE tracks Fidelity Sustainable USD EM Bond, while JPBM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: Fidelity and JPMorgan. Their fees differ too: 0.45% for FESD.DE and 0.39% for JPBM.DE.