JEMA vs. EEM

Last updated Jun 4, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and EEM (iShares MSCI Emerging Markets ETF) are both exchange-traded funds - JEMA is a Emerging Markets Equities fund actively managed by JPMorgan, while EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index. JEMA is actively managed, while EEM is passively managed. Over the past 5 years, JEMA returned 7.20%/yr vs 7.01%/yr for EEM. With a 0.98 correlation, they move nearly in lockstep. JEMA charges 0.39%/yr vs 0.72%/yr for EEM.

Performance

JEMA vs. EEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMA achieves a 31.42% return, which is significantly higher than EEM's 27.80% return.

JEMA

• 1D: -1.10%
• 1M: 9.00%
• YTD: 31.42%
• 6M: 33.11%
• 1Y: 63.06%
• 3Y*: 24.84%
• 5Y*: 7.20%
• 10Y*: —

EEM

• 1D: -1.24%
• 1M: 9.08%
• YTD: 27.80%
• 6M: 30.51%
• 1Y: 55.80%
• 3Y*: 23.95%
• 5Y*: 7.01%
• 10Y*: 9.93%

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

JEMA vs. EEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	31.42%	34.89%	5.68%	9.82%	-24.98%	-4.78%
EEM iShares MSCI Emerging Markets ETF	27.80%	33.98%	6.49%	8.95%	-20.56%	-9.42%

Correlation

The correlation between JEMA and EEM is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 12, 2021	0.98

The correlation between JEMA and EEM has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

JEMA vs. EEM - Sectors Allocation Comparison

Sectors	JEMA	EEM
Technology	41.1%	43.6%
Financial Services	21.2%	17.5%
Consumer Cyclical	9.6%	8.1%
Industrials	7.4%	6.2%
Communication Services	7.0%	5.7%
Energy	4.0%	3.3%
Basic Materials	3.5%	6.1%
Consumer Defensive	2.5%	2.7%
Healthcare	1.7%	2.5%
Utilities	1.4%	2.0%
Real Estate	0.6%	0.9%

Return for Risk

JEMA vs. EEM — Risk / Return Rank

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

JEMA

JEMA Risk / Return Rank: 88
JEMA Sharpe Ratio Rank: 90
JEMA Sortino Ratio Rank: 86
JEMA Omega Ratio Rank: 89
JEMA Calmar Ratio Rank: 86
JEMA Martin Ratio Rank: 89

EEM

EEM Risk / Return Rank: 81
EEM Sharpe Ratio Rank: 84
EEM Sortino Ratio Rank: 79
EEM Omega Ratio Rank: 83
EEM Calmar Ratio Rank: 79
EEM Martin Ratio Rank: 80

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.

JEMA vs. EEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and iShares MSCI Emerging Markets ETF (EEM). 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.

	JEMA	EEM	Difference
Sharpe ratio Return per unit of total volatility	3.14	2.81	+0.33
Sortino ratio Return per unit of downside risk	3.92	3.62	+0.30
Omega ratio Gain probability vs. loss probability	1.56	1.51	+0.05
Calmar ratio Return relative to maximum drawdown	4.84	4.15	+0.69
Martin ratio Return relative to average drawdown	19.80	15.99	+3.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMA vs. EEM - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 3.14, which is comparable to the EEM Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of JEMA and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JEMA	EEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	2.81	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.37	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.38	+0.02

Drawdowns

JEMA vs. EEM - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for JEMA and EEM.

Drawdown Indicators

	JEMA	EEM	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-66.43%	+26.93%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.52%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-17.29%	-0.82%
Max Drawdown (5Y) Largest decline over 5 years	-39.45%	-37.71%	-1.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.82%	—
Current Drawdown Current decline from peak	-1.10%	-1.24%	+0.14%
Average Drawdown Average peak-to-trough decline	-17.04%	-16.02%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	3.50%	-0.31%

Volatility

JEMA vs. EEM - Volatility Comparison

JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and iShares MSCI Emerging Markets ETF (EEM) have volatilities of 8.36% and 8.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMA	EEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	8.52%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	17.42%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	20.20%	19.97%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	18.91%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	20.50%	-1.60%

JEMA vs. EEM - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is lower than EEM's 0.72% expense ratio.

Dividends

JEMA vs. EEM - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.23%, more than EEM's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEM iShares MSCI Emerging Markets ETF	1.74%	2.22%	2.43%	2.63%	2.50%	1.99%	1.45%	2.76%	2.24%	1.89%	1.89%	2.49%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.23%	2.93%	2.44%	2.95%	2.69%	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEMA and EEM in my portfolio?

With a correlation of 0.98, JEMA and EEM 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 is riskier, JEMA or EEM?

EEM has higher volatility (8.52%) compared to JEMA (8.36%). In terms of maximum drawdown, JEMA dropped -39.50% vs EEM's -66.43%.

Which ETF is better, JEMA or EEM?

On 5-year performance, JEMA leads with 7.20% vs 7.01% for EEM. On fees, JEMA is cheaper at 0.39% per year. On volatility, JEMA has been the lower-risk option at 8.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or EEM?

Over the 5-year period, JEMA has performed better with a 7.20% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or EEM?

JEMA is cheaper with a 0.39% expense ratio, compared with 0.72% for EEM.

Which ETF pays a higher dividend yield, JEMA or EEM?

JEMA has the higher dividend yield at 2.23%, compared with 1.74% for EEM.

What is the main difference between JEMA and EEM?

JEMA is categorized as Emerging Markets Equities, while EEM is Emerging Markets Diversified. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JEMA and 0.72% for EEM.

Which has better risk-adjusted returns?

JEMA currently has the higher Sharpe Ratio (3.14 vs 2.81), 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.