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IEFM.L vs. JMRE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFM.L vs. JMRE.L

Last updated Jun 5, 2026

IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and JMRE.L (JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) are both exchange-traded funds - IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index, while JMRE.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, IEFM.L returned 11.50%/yr vs 8.43%/yr for JMRE.L. A 0.59 correlation means they provide meaningful diversification when combined. IEFM.L charges 0.25%/yr vs 0.30%/yr for JMRE.L.

Performance

IEFM.L vs. JMRE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) and JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JMRE.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEFM.L achieves a 6.92% return, which is significantly lower than JMRE.L's 29.27% return.

IEFM.L

1D
-0.17%
1M
2.97%
YTD
6.92%
6M
10.23%
1Y
20.60%
3Y*
20.30%
5Y*
11.50%
10Y*
12.41%

JMRE.L

1D
-1.66%
1M
6.70%
YTD
29.27%
6M
31.42%
1Y
58.05%
3Y*
21.44%
5Y*
8.43%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFM.L vs. JMRE.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		6.92%33.05%15.03%10.37%-9.80%14.07%17.04%23.39%-3.68%
JMRE.L
JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)		29.27%25.64%8.21%2.02%-12.02%-1.26%16.34%15.61%-24.67%

Correlation

The correlation between IEFM.L and JMRE.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

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

0.52

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2018

0.59

The correlation between IEFM.L and JMRE.L has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.

IEFM.L vs. JMRE.L - Sectors Allocation Comparison

Sectors
IEFM.L
JMRE.L

Financial Services

23.3%
20.3%

Healthcare

16.0%
2.7%

Industrials

14.8%
6.8%

Utilities

12.2%
1.6%

Energy

11.2%
4.5%

Technology

8.4%
37.5%

Basic Materials

7.3%
5.9%

Consumer Defensive

3.1%
2.5%

Communication Services

3.0%
7.3%

Consumer Cyclical

0.5%
10.7%

Real Estate

0.4%
0.4%

Financial Services

IEFM.L
23.3%
JMRE.L
20.3%

Healthcare

IEFM.L
16.0%
JMRE.L
2.7%

Industrials

IEFM.L
14.8%
JMRE.L
6.8%

Utilities

IEFM.L
12.2%
JMRE.L
1.6%

Energy

IEFM.L
11.2%
JMRE.L
4.5%

Technology

IEFM.L
8.4%
JMRE.L
37.5%

Basic Materials

IEFM.L
7.3%
JMRE.L
5.9%

Consumer Defensive

IEFM.L
3.1%
JMRE.L
2.5%

Communication Services

IEFM.L
3.0%
JMRE.L
7.3%

Consumer Cyclical

IEFM.L
0.5%
JMRE.L
10.7%

Real Estate

IEFM.L
0.4%
JMRE.L
0.4%

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iShares Edge MSCI Europe Momentum Factor UCITS ETF

JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)

Often compared with IEFM.L:
IEFM.L vs. MTUMIEFM.L vs. VUKE.DEIEFM.L vs. CEMR.DEIEFM.L vs. EXO.ASIEFM.L vs. SPYF.DEIEFM.L vs. QDVX.DEIEFM.L vs. ESIF.L
Often compared with JMRE.L:
JMRE.L vs. JRZE.LJMRE.L vs. EMIM.LJMRE.L vs. FRIN.LJMRE.L vs. SCHEJMRE.L vs. FEM.LJMRE.L vs. HEMC.LJMRE.L vs. EMV.L

Return for Risk

IEFM.L vs. JMRE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFM.L
IEFM.L Risk / Return Rank: 2828
Overall Rank
IEFM.L Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
IEFM.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
IEFM.L Omega Ratio Rank: 3535
Omega Ratio Rank
IEFM.L Calmar Ratio Rank: 3030
Calmar Ratio Rank
IEFM.L Martin Ratio Rank: 2626
Martin Ratio Rank
JMRE.L
JMRE.L Risk / Return Rank: 9191
Overall Rank
JMRE.L Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
JMRE.L Sortino Ratio Rank: 9292
Sortino Ratio Rank
JMRE.L Omega Ratio Rank: 9393
Omega Ratio Rank
JMRE.L Calmar Ratio Rank: 9090
Calmar Ratio Rank
JMRE.L Martin Ratio Rank: 8888
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.

IEFM.L vs. JMRE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) and JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JMRE.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.

IEFM.LJMRE.LDifference
Sharpe ratioReturn per unit of total volatility
0.82
3.43

-2.61

Sortino ratioReturn per unit of downside risk
1.35
4.38

-3.03

Omega ratioGain probability vs. loss probability

1.23

1.63

-0.41

Calmar ratioReturn relative to maximum drawdown

1.46

5.49

-4.03

Martin ratioReturn relative to average drawdown

3.55

19.12

-15.58

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

IEFM.L vs. JMRE.L - Sharpe Ratio Comparison

The current IEFM.L Sharpe Ratio is 0.82, which is lower than the JMRE.L Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of IEFM.L and JMRE.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

IEFM.LJMRE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.82

3.43

-2.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.32

+0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.73

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.24

+0.44

Drawdowns

IEFM.L vs. JMRE.L - Drawdown Comparison

The maximum IEFM.L drawdown since its inception was -23.88%, smaller than the maximum JMRE.L drawdown of -31.64%. Use the drawdown chart below to compare losses from any high point for IEFM.L and JMRE.L.

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Drawdown Indicators

IEFM.LJMRE.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.88%

-31.64%

+7.76%

Max Drawdown (1Y)

Largest decline over 1 year

-14.04%

-10.51%

-3.53%

Max Drawdown (3Y)

Largest decline over 3 years

-14.04%

-23.91%

+9.87%

Max Drawdown (5Y)

Largest decline over 5 years

-21.33%

-25.50%

+4.17%

Max Drawdown (10Y)

Largest decline over 10 years

-23.88%

—

—

Current Drawdown

Current decline from peak

-1.75%

-2.44%

+0.69%

Average Drawdown

Average peak-to-trough decline

-5.23%

-14.76%

+9.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.79%

3.03%

+2.76%

Volatility

IEFM.L vs. JMRE.L - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) is 3.99%, while JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JMRE.L) has a volatility of 7.50%. This indicates that IEFM.L experiences smaller price fluctuations and is considered to be less risky than JMRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFM.LJMRE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

7.50%

-3.51%

Volatility (6M)

Calculated over the trailing 6-month period

13.91%

14.44%

-0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

24.98%

16.87%

+8.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.82%

26.64%

-8.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.03%

26.15%

-9.12%

IEFM.L vs. JMRE.L - Expense Ratio Comparison

IEFM.L has a 0.25% expense ratio, which is lower than JMRE.L's 0.30% expense ratio.

Dividends

IEFM.L vs. JMRE.L - Dividend Comparison

Neither IEFM.L nor JMRE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IEFM.L and JMRE.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEFM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEFM.L is cheaper with a 0.25% expense ratio, compared with 0.30% for JMRE.L.

IEFM.L is categorized as Momentum, while JMRE.L is Emerging Markets Equities. IEFM.L tracks MSCI Europe Momentum Index, while JMRE.L tracks MSCI EM NR USD. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.25% for IEFM.L and 0.30% for JMRE.L.

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