JBEM.DE vs. VGEA.DE

Last updated Jun 26, 2026

JBEM.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - JBEM.DE tracks the J.P. Morgan ESG EMU Government Bond IG Index while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, JBEM.DE returned -2.11%/yr vs -1.94%/yr for VGEA.DE. With a 0.96 correlation, they move nearly in lockstep. JBEM.DE charges 0.15%/yr vs 0.07%/yr for VGEA.DE.

Performance

JBEM.DE vs. VGEA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JBEM.DE having a 1.27% return and VGEA.DE slightly lower at 1.25%.

JBEM.DE

• 1D: 0.10%
• 1M: 0.84%
• YTD: 1.27%
• 6M: 1.37%
• 1Y: 1.05%
• 3Y*: 2.25%
• 5Y*: -2.11%
• 10Y*: —

VGEA.DE

• 1D: 0.08%
• 1M: 0.87%
• YTD: 1.25%
• 6M: 1.42%
• 1Y: 1.29%
• 3Y*: 2.50%
• 5Y*: -1.94%
• 10Y*: —

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

JBEM.DE vs. VGEA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JBEM.DE BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF	1.27%	0.42%	1.18%	6.64%	-18.24%	-3.43%	4.73%	5.81%
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating	1.25%	0.67%	1.54%	6.93%	-18.29%	-3.31%	4.79%	5.96%

Correlation

The correlation between JBEM.DE and VGEA.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.96

The correlation between JBEM.DE and VGEA.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

JBEM.DE vs. VGEA.DE — Risk / Return Rank

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

JBEM.DE

JBEM.DE Risk / Return Rank: 11
JBEM.DE Sharpe Ratio Rank: 12
JBEM.DE Sortino Ratio Rank: 10
JBEM.DE Omega Ratio Rank: 10
JBEM.DE Calmar Ratio Rank: 12
JBEM.DE Martin Ratio Rank: 12

VGEA.DE

VGEA.DE Risk / Return Rank: 12
VGEA.DE Sharpe Ratio Rank: 13
VGEA.DE Sortino Ratio Rank: 11
VGEA.DE Omega Ratio Rank: 11
VGEA.DE Calmar Ratio Rank: 13
VGEA.DE Martin Ratio Rank: 13

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.

JBEM.DE vs. VGEA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE). 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.

	JBEM.DE	VGEA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.25	0.29	-0.04
Sortino ratio: Return per unit of downside risk	0.39	0.45	-0.06
Omega ratio: Gain probability vs. loss probability	1.05	1.05	-0.01
Calmar ratio: Return relative to maximum drawdown	0.33	0.37	-0.04
Martin ratio: Return relative to average drawdown	0.79	0.96	-0.17

JBEM.DE vs. VGEA.DE - Sharpe Ratio Comparison

The current JBEM.DE Sharpe Ratio is 0.25, which is comparable to the VGEA.DE Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of JBEM.DE and VGEA.DE, 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

JBEM.DE vs. VGEA.DE - Drawdown Comparison

The maximum JBEM.DE drawdown since its inception was -22.48%, roughly equal to the maximum VGEA.DE drawdown of -22.35%. Use the drawdown chart below to compare losses from any high point for JBEM.DE and VGEA.DE.

Drawdown Indicators

	JBEM.DE	VGEA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-22.48%	-22.35%	-0.13%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-3.47%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.95%	-3.92%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-21.49%	-21.48%	-0.01%
Current Drawdown Current decline from peak	-13.76%	-12.92%	-0.84%
Average Drawdown Average peak-to-trough decline	-10.59%	-10.35%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	1.35%	-0.02%

Volatility

JBEM.DE vs. VGEA.DE - Volatility Comparison

BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE) has a higher volatility of 1.10% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 1.03%. This indicates that JBEM.DE's price experiences larger fluctuations and is considered to be riskier than VGEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBEM.DE	VGEA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.03%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	3.67%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	4.37%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.18%	6.40%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	5.92%	-0.20%

JBEM.DE vs. VGEA.DE - Expense Ratio Comparison

JBEM.DE has a 0.15% expense ratio, which is higher than VGEA.DE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JBEM.DE vs. VGEA.DE - Dividend Comparison

Neither JBEM.DE nor VGEA.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JBEM.DE and VGEA.DE in my portfolio?

With a correlation of 0.94, JBEM.DE and VGEA.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JBEM.DE or VGEA.DE?

On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JBEM.DE or VGEA.DE?

VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for JBEM.DE.

What is the main difference between JBEM.DE and VGEA.DE?

JBEM.DE tracks J.P. Morgan ESG EMU Government Bond IG Index, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: BNP Paribas Easy and Vanguard. Their fees differ too: 0.15% for JBEM.DE and 0.07% for VGEA.DE.