IBND vs. JEMA

Last updated Jul 14, 2026

IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) are both exchange-traded funds - IBND is a Corporate Bonds fund tracking the Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while JEMA is a Emerging Markets Equities fund actively managed by JPMorgan. IBND is passively managed, while JEMA is actively managed. Over the past 5 years, IBND returned -1.48%/yr vs 6.28%/yr for JEMA. At a 0.45 correlation, their price movements are largely independent. IBND charges 0.50%/yr vs 0.39%/yr for JEMA.

Performance

IBND vs. JEMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBND achieves a -2.74% return, which is significantly lower than JEMA's 22.82% return.

IBND

• 1D: -0.68%
• 1M: -1.81%
• 6M: -2.62%
• YTD: -2.74%
• 1Y: -1.37%
• 3Y*: 4.39%
• 5Y*: -1.48%
• 10Y*: 0.56%

JEMA

• 1D: -3.63%
• 1M: -4.04%
• 6M: 16.50%
• YTD: 22.82%
• 1Y: 44.10%
• 3Y*: 20.30%
• 5Y*: 6.28%
• 10Y*: —

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

IBND vs. JEMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IBND SPDR Bloomberg Barclays International Corporate Bond ETF	-2.74%	16.17%	-2.81%	10.38%	-19.44%	-4.71%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	22.82%	34.89%	5.68%	9.82%	-24.98%	-4.72%

Correlation

The correlation between IBND and JEMA is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 11, 2021	0.45

Return for Risk

IBND vs. JEMA — Risk / Return Rank

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

IBND

IBND Risk / Return Rank: 7
IBND Sharpe Ratio Rank: 8
IBND Sortino Ratio Rank: 7
IBND Omega Ratio Rank: 7
IBND Calmar Ratio Rank: 7
IBND Martin Ratio Rank: 7

JEMA

JEMA Risk / Return Rank: 75
JEMA Sharpe Ratio Rank: 74
JEMA Sortino Ratio Rank: 65
JEMA Omega Ratio Rank: 75
JEMA Calmar Ratio Rank: 81
JEMA Martin Ratio Rank: 80

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.

IBND vs. JEMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA). 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.

	IBND	JEMA	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.87	-2.04
Sortino ratio: Return per unit of downside risk	-0.19	2.38	-2.57
Omega ratio: Gain probability vs. loss probability	0.98	1.35	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.20	3.38	-3.58
Martin ratio: Return relative to average drawdown	-0.48	12.18	-12.67

IBND vs. JEMA - Sharpe Ratio Comparison

The current IBND Sharpe Ratio is -0.17, which is lower than the JEMA Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of IBND and JEMA, 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

IBND vs. JEMA - Drawdown Comparison

The maximum IBND drawdown since its inception was -35.62%, smaller than the maximum JEMA drawdown of -39.50%. Use the drawdown chart below to compare losses from any high point for IBND and JEMA.

Drawdown Indicators

	IBND	JEMA	Difference
Max Drawdown Largest peak-to-trough decline	-35.62%	-39.50%	+3.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-13.11%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	-9.18%	-18.11%	+8.93%
Max Drawdown (5Y) Largest decline over 5 years	-33.49%	-38.23%	+4.74%
Max Drawdown (10Y) Largest decline over 10 years	-35.62%	—	—
Current Drawdown Current decline from peak	-10.97%	-9.17%	-1.80%
Average Drawdown Average peak-to-trough decline	-10.63%	-16.79%	+6.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	3.63%	-0.79%

Volatility

IBND vs. JEMA - Volatility Comparison

The current volatility for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) is 2.12%, while JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) has a volatility of 11.32%. This indicates that IBND experiences smaller price fluctuations and is considered to be less risky than JEMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBND	JEMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	11.32%	-9.20%
Volatility (6M) Calculated over the trailing 6-month period	6.37%	21.68%	-15.31%
Volatility (1Y) Calculated over the trailing 1-year period	8.01%	23.79%	-15.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	19.83%	-10.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.92%	19.56%	-10.64%

IBND vs. JEMA - Expense Ratio Comparison

IBND has a 0.50% expense ratio, which is higher than JEMA's 0.39% expense ratio.

Dividends

IBND vs. JEMA - Dividend Comparison

IBND's dividend yield for the trailing twelve months is around 2.81%, more than JEMA's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBND SPDR Bloomberg Barclays International Corporate Bond ETF	2.81%	2.49%	2.61%	2.08%	0.54%	0.38%	0.45%	0.67%	0.71%	0.34%	0.01%	0.01%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.38%	2.93%	2.44%	2.95%	2.69%	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBND and JEMA in my portfolio?

IBND and JEMA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBND or JEMA?

JEMA has higher volatility (11.32%) compared to IBND (2.12%). In terms of maximum drawdown, IBND dropped -35.62% vs JEMA's -39.50%.

Which ETF is better, IBND or JEMA?

On 5-year performance, JEMA leads with 6.28% vs -1.48% for IBND. On fees, JEMA is cheaper at 0.39% per year. On volatility, IBND has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBND or JEMA?

Over the 5-year period, JEMA has performed better with a 6.28% return vs -1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBND or JEMA?

JEMA is cheaper with a 0.39% expense ratio, compared with 0.50% for IBND.

Which ETF pays a higher dividend yield, IBND or JEMA?

IBND has the higher dividend yield at 2.81%, compared with 2.38% for JEMA.

What is the main difference between IBND and JEMA?

IBND is categorized as Corporate Bonds, while JEMA is Emerging Markets Equities. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.50% for IBND and 0.39% for JEMA.

Which has better risk-adjusted returns?

JEMA currently has the higher Sharpe Ratio (1.87 vs -0.17), 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.