IBND vs. JPIB
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and JPIB (JPMorgan International Bond Opportunities ETF) are both exchange-traded funds - IBND is a Corporate Bonds fund tracking the Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while JPIB is a Global Bonds fund actively managed by JPMorgan. IBND is passively managed, while JPIB is actively managed. Over the past 5 years, IBND returned -1.48%/yr vs 2.80%/yr for JPIB. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
IBND vs. JPIB - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -2.74% return, which is significantly lower than JPIB's 1.00% 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%
JPIB
- 1D
- -0.19%
- 1M
- -0.09%
- 6M
- 0.46%
- YTD
- 1.00%
- 1Y
- 4.31%
- 3Y*
- 5.88%
- 5Y*
- 2.80%
- 10Y*
- —
IBND vs. JPIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -2.74% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 6.75% |
JPIB JPMorgan International Bond Opportunities ETF | 1.00% | 8.19% | 3.48% | 8.68% | -6.38% | 0.14% | 7.14% | 10.76% | -2.17% | 2.61% |
Correlation
The correlation between IBND and JPIB is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2017 | 0.37 |
Over the past year, IBND and JPIB have become more correlated (0.63) than their long-term average of 0.37, meaning their price movements have been converging.
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Return for Risk
IBND vs. JPIB — Risk / Return Rank
IBND
JPIB
IBND vs. JPIB - 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 International Bond Opportunities ETF (JPIB). 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 | JPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.24 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.15 | -1.36 |
| Martin ratioReturn relative to average drawdown | -0.48 | 3.91 | -4.40 |
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Drawdowns
IBND vs. JPIB - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than JPIB's maximum drawdown of -13.13%. Use the drawdown chart below to compare losses from any high point for IBND and JPIB.
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Drawdown Indicators
| IBND | JPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -13.13% | -22.49% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -3.75% | -3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -3.75% | -5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -11.83% | -21.66% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | — | — |
Current DrawdownCurrent decline from peak | -10.97% | -0.86% | -10.11% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -1.92% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 1.10% | +1.74% |
Volatility
IBND vs. JPIB - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 2.12% compared to JPMorgan International Bond Opportunities ETF (JPIB) at 0.94%. This indicates that IBND's price experiences larger fluctuations and is considered to be riskier than JPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBND | JPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 0.94% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 3.12% | +3.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 3.55% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 4.12% | +5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 4.43% | +4.49% |
IBND vs. JPIB - Expense Ratio Comparison
Both IBND and JPIB have an expense ratio of 0.50%.
Dividends
IBND vs. JPIB - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.81%, less than JPIB's 4.95% 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% |
JPIB JPMorgan International Bond Opportunities ETF | 4.95% | 4.85% | 4.57% | 4.35% | 3.10% | 2.59% | 3.14% | 4.66% | 5.83% | 1.81% | 0.00% | 0.00% |
Frequently Asked Questions
IBND and JPIB have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.12%) compared to JPIB (0.94%). In terms of maximum drawdown, IBND dropped -35.62% vs JPIB's -13.13%.
On 5-year performance, JPIB leads with 2.80% vs -1.48% for IBND. Both ETFs have the same 0.50% expense ratio. On volatility, JPIB has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPIB has performed better with a 2.80% return vs -1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBND and JPIB have the same expense ratio: 0.50% per year.
JPIB has the higher dividend yield at 4.95%, compared with 2.81% for IBND.
IBND is categorized as Corporate Bonds, while JPIB is Global Bonds. They also come from different issuers: State Street and JPMorgan.
JPIB currently has the higher Sharpe Ratio (1.22 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.
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