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 -1.32%/yr vs 2.87%/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 -0.64% return, which is significantly lower than JPIB's 0.99% return.
IBND
- 1D
- 0.06%
- 1M
- -0.05%
- YTD
- -0.64%
- 6M
- 0.40%
- 1Y
- 2.89%
- 3Y*
- 6.85%
- 5Y*
- -1.32%
- 10Y*
- 0.69%
JPIB
- 1D
- -0.04%
- 1M
- 0.78%
- YTD
- 0.99%
- 6M
- 1.21%
- 1Y
- 5.46%
- 3Y*
- 5.87%
- 5Y*
- 2.87%
- 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 | -0.64% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 7.24% |
JPIB JPMorgan International Bond Opportunities ETF | 0.99% | 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 0.62, 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 | 0.62 |
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 6, 2017 | 0.37 |
Over the past year, IBND and JPIB have become more correlated (0.62) 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.
| IBND | JPIB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.36 | 1.56 | -1.19 |
Sortino ratioReturn per unit of downside risk | 0.58 | 2.21 | -1.62 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.31 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | 0.51 | 1.44 | -0.93 |
Martin ratioReturn relative to average drawdown | 1.41 | 5.04 | -3.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBND | JPIB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 1.56 | -1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.70 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.83 | -0.67 |
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 | -34.32% | -11.83% | -22.49% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | — | — |
Current DrawdownCurrent decline from peak | -9.05% | -0.87% | -8.18% |
Average DrawdownAverage peak-to-trough decline | -10.64% | -1.93% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 1.07% | +1.38% |
Volatility
IBND vs. JPIB - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 2.05% compared to JPMorgan International Bond Opportunities ETF (JPIB) at 1.08%. 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 | 2.05% | 1.08% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 6.13% | 2.99% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.98% | 3.52% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 4.11% | +5.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.94% | 4.45% | +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 2.73%, less than JPIB's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.73% | 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 | 5.01% | 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 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.05%) compared to JPIB (1.08%). In terms of maximum drawdown, IBND dropped -35.62% vs JPIB's -13.13%.
On 5-year performance, JPIB leads with 2.87% vs -1.32% for IBND. Both ETFs have the same 0.50% expense ratio. On volatility, JPIB has been the lower-risk option at 1.08%. 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 2.87% return vs -1.32%. 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 5.01%, compared with 2.73% 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 (1.56 vs 0.36), 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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