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FSEM.L vs. JPEE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSEM.L vs. JPEE.L

Last updated Jun 5, 2026

FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) and JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) are both Emerging Markets Bonds funds. FSEM.L is actively managed, while JPEE.L is passively managed. Over the past 5 years, FSEM.L returned 1.53%/yr vs 1.94%/yr for JPEE.L. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.

Performance

FSEM.L vs. JPEE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FSEM.L is traded in USD, while JPEE.L is traded in EUR. To make them comparable, the JPEE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FSEM.L achieves a 2.90% return, which is significantly higher than JPEE.L's 1.77% return.

FSEM.L

1D
0.09%
1M
0.89%
YTD
2.90%
6M
3.45%
1Y
12.53%
3Y*
8.81%
5Y*
1.53%
10Y*
—

JPEE.L

1D
0.21%
1M
1.09%
YTD
1.77%
6M
2.39%
1Y
11.44%
3Y*
9.76%
5Y*
1.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSEM.L vs. JPEE.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FSEM.L
Fidelity Sustainable USD EM Bond UCITS ETF Inc		2.90%13.32%3.51%8.82%-17.90%2.49%
JPEE.L
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)		1.77%14.20%5.65%9.93%-18.63%4.10%

Correlation

The correlation between FSEM.L and JPEE.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

0.66

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2021

0.63

The correlation between FSEM.L and JPEE.L has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

Fidelity Sustainable USD EM Bond UCITS ETF Inc

iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)

Often compared with FSEM.L:
FSEM.L vs. EMGA.LFSEM.L vs. FUSA.LFSEM.L vs. EMGB.LFSEM.L vs. FGQD.LFSEM.L vs. VEMA.LFSEM.L vs. FUSS.LFSEM.L vs. FEUI.L
Often compared with JPEE.L:
JPEE.L vs. CEMBJPEE.L vs. VDEM.LJPEE.L vs. EUNA.DEJPEE.L vs. SXR8.DEJPEE.L vs. BNDXJPEE.L vs. GLDJPEE.L vs. EMDG.L

Return for Risk

FSEM.L vs. JPEE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSEM.L
FSEM.L Risk / Return Rank: 6767
Overall Rank
FSEM.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
FSEM.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
FSEM.L Omega Ratio Rank: 7878
Omega Ratio Rank
FSEM.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
FSEM.L Martin Ratio Rank: 6363
Martin Ratio Rank
JPEE.L
JPEE.L Risk / Return Rank: 5252
Overall Rank
JPEE.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
JPEE.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
JPEE.L Omega Ratio Rank: 4949
Omega Ratio Rank
JPEE.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
JPEE.L Martin Ratio Rank: 5353
Martin Ratio Rank
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.

FSEM.L vs. JPEE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.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.

FSEM.LJPEE.LDifference
Sharpe ratioReturn per unit of total volatility
1.96
1.94

+0.02

Sortino ratioReturn per unit of downside risk
3.11
2.85

+0.26

Omega ratioGain probability vs. loss probability

1.46

1.35

+0.10

Calmar ratioReturn relative to maximum drawdown

3.11

2.54

+0.57

Martin ratioReturn relative to average drawdown

11.25

10.41

+0.84

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSEM.L vs. JPEE.L - Sharpe Ratio Comparison

The current FSEM.L Sharpe Ratio is 1.96, which is comparable to the JPEE.L Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FSEM.L and JPEE.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.

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Sharpe Ratios by Period

FSEM.LJPEE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.96

1.94

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.21

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.23

0.27

-0.04

Drawdowns

FSEM.L vs. JPEE.L - Drawdown Comparison

The maximum FSEM.L drawdown since its inception was -28.00%, roughly equal to the maximum JPEE.L drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for FSEM.L and JPEE.L.

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Drawdown Indicators

FSEM.LJPEE.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.00%

-28.48%

+0.48%

Max Drawdown (1Y)

Largest decline over 1 year

-4.02%

-4.48%

+0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-7.09%

-7.19%

+0.10%

Max Drawdown (5Y)

Largest decline over 5 years

-28.00%

-28.48%

+0.48%

Current Drawdown

Current decline from peak

-1.00%

-0.16%

-0.84%

Average Drawdown

Average peak-to-trough decline

-10.21%

-7.15%

-3.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.11%

1.10%

+0.01%

Volatility

FSEM.L vs. JPEE.L - Volatility Comparison

Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a higher volatility of 2.72% compared to iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) at 1.97%. This indicates that FSEM.L's price experiences larger fluctuations and is considered to be riskier than JPEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSEM.LJPEE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.72%

1.97%

+0.75%

Volatility (6M)

Calculated over the trailing 6-month period

5.22%

4.31%

+0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

6.39%

5.89%

+0.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.58%

9.21%

-0.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.47%

10.07%

-1.60%

FSEM.L vs. JPEE.L - Expense Ratio Comparison

Both FSEM.L and JPEE.L have an expense ratio of 0.45%.

Dividends

FSEM.L vs. JPEE.L - Dividend Comparison

FSEM.L's dividend yield for the trailing twelve months is around 7.90%, while JPEE.L has not paid dividends to shareholders.

PositionTTM20252024202320222021
FSEM.L
Fidelity Sustainable USD EM Bond UCITS ETF Inc		7.90%6.31%6.49%5.74%5.01%2.41%
JPEE.L
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FSEM.L and JPEE.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.

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

FSEM.L and JPEE.L have the same expense ratio: 0.45% per year.

They also come from different issuers: Fidelity and iShares.

Portfolio Optimizer

Find the right allocation for FSEM.L and JPEE.L

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