JCPI vs. EMLC
JCPI (JPMorgan Inflation Managed Bond ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. JCPI is actively managed, while EMLC is passively managed. Over the past 3 years, JCPI returned 5.20%/yr vs 6.04%/yr for EMLC. At a 0.41 correlation, their price movements are largely independent. JCPI charges 0.25%/yr vs 0.30%/yr for EMLC.
Performance
JCPI vs. EMLC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JCPI achieves a 1.12% return, which is significantly higher than EMLC's -0.23% return.
JCPI
- 1D
- -0.10%
- 1M
- -0.88%
- YTD
- 1.12%
- 6M
- 1.07%
- 1Y
- 5.14%
- 3Y*
- 5.20%
- 5Y*
- —
- 10Y*
- —
EMLC
- 1D
- -0.16%
- 1M
- -1.80%
- YTD
- -0.23%
- 6M
- 1.29%
- 1Y
- 7.90%
- 3Y*
- 6.04%
- 5Y*
- 0.97%
- 10Y*
- 1.99%
JCPI vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JCPI JPMorgan Inflation Managed Bond ETF | 1.12% | 7.10% | 4.70% | 5.04% | -5.53% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | -0.23% | 18.81% | -2.97% | 11.18% | -4.36% |
Correlation
The correlation between JCPI and EMLC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2022 | 0.41 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JCPI vs. EMLC — Risk / Return Rank
JCPI
EMLC
JCPI vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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.
| JCPI | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.22 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 1.28 | +1.94 |
| Martin ratioReturn relative to average drawdown | 11.00 | 4.34 | +6.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| JCPI | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.14 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.11 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.10 | +0.54 |
Drawdowns
JCPI vs. EMLC - Drawdown Comparison
The maximum JCPI drawdown since its inception was -7.85%, smaller than the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for JCPI and EMLC.
Loading charts...
Drawdown Indicators
| JCPI | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.85% | -32.43% | +24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -6.19% | +4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -9.15% | +6.34% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.26% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.47% | — |
Current DrawdownCurrent decline from peak | -0.96% | -5.38% | +4.42% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -14.36% | +12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 1.82% | -1.35% |
Volatility
JCPI vs. EMLC - Volatility Comparison
The current volatility for JPMorgan Inflation Managed Bond ETF (JCPI) is 0.95%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.20%. This indicates that JCPI experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JCPI | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 2.20% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 6.08% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.92% | 7.00% | -4.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.50% | 9.13% | -4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 10.05% | -5.55% |
JCPI vs. EMLC - Expense Ratio Comparison
JCPI has a 0.25% expense ratio, which is lower than EMLC's 0.30% expense ratio.
Dividends
JCPI vs. EMLC - Dividend Comparison
JCPI's dividend yield for the trailing twelve months is around 3.96%, less than EMLC's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.26% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
JCPI JPMorgan Inflation Managed Bond ETF | 3.96% | 3.93% | 3.98% | 3.45% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JCPI and EMLC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (2.20%) compared to JCPI (0.95%). In terms of maximum drawdown, JCPI dropped -7.85% vs EMLC's -32.43%.
On 3-year performance, EMLC leads with 6.04% vs 5.20% for JCPI. On fees, JCPI is cheaper at 0.25% per year. On volatility, JCPI has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMLC has performed better with a 6.04% return vs 5.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JCPI is cheaper with a 0.25% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.26%, compared with 3.96% for JCPI.
JCPI is categorized as Inflation-Protected Bonds, while EMLC is Emerging Markets Bonds. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.25% for JCPI and 0.30% for EMLC.
JCPI currently has the higher Sharpe Ratio (1.77 vs 1.14), 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.
Find the right allocation for JCPI and EMLC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer