JEMA vs. EVLU

Last updated Jun 24, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds. JEMA is actively managed, while EVLU is passively managed. Over the past year, JEMA returned 54.31% vs 59.59% for EVLU. Their correlation of 0.91 suggests significant overlap in exposure. JEMA charges 0.39%/yr vs 0.35%/yr for EVLU.

Performance

JEMA vs. EVLU - 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 Value Factor ETF (EVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with JEMA having a 27.73% return and EVLU slightly higher at 28.98%.

JEMA

• 1D: -5.53%
• 1M: 3.01%
• YTD: 27.73%
• 6M: 28.60%
• 1Y: 54.31%
• 3Y*: 23.52%
• 5Y*: 6.79%
• 10Y*: —

EVLU

• 1D: -3.07%
• 1M: 3.10%
• YTD: 28.98%
• 6M: 30.29%
• 1Y: 59.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JEMA vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	27.73%	34.89%	1.17%
EVLU iShares MSCI Emerging Markets Value Factor ETF	28.98%	38.54%	1.21%

Correlation

The correlation between JEMA and EVLU is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.91

The correlation between JEMA and EVLU has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

JEMA vs. EVLU — Risk / Return Rank

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

JEMA

JEMA Risk / Return Rank: 80
JEMA Sharpe Ratio Rank: 80
JEMA Sortino Ratio Rank: 70
JEMA Omega Ratio Rank: 81
JEMA Calmar Ratio Rank: 83
JEMA Martin Ratio Rank: 84

EVLU

EVLU Risk / Return Rank: 88
EVLU Sharpe Ratio Rank: 91
EVLU Sortino Ratio Rank: 88
EVLU Omega Ratio Rank: 89
EVLU Calmar Ratio Rank: 87
EVLU Martin Ratio Rank: 84

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. EVLU - 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 Value Factor ETF (EVLU). 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.

	JEMA	EVLU	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.97	-0.59
Sortino ratio: Return per unit of downside risk	2.95	3.73	-0.79
Omega ratio: Gain probability vs. loss probability	1.45	1.53	-0.08
Calmar ratio: Return relative to maximum drawdown	4.16	4.64	-0.48
Martin ratio: Return relative to average drawdown	16.18	16.27	-0.10

JEMA vs. EVLU - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 2.38, which is comparable to the EVLU Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of JEMA and EVLU, 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

JEMA vs. EVLU - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for JEMA and EVLU.

Drawdown Indicators

	JEMA	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-17.17%	-22.33%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-12.90%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.39%	—	—
Current Drawdown Current decline from peak	-5.53%	-5.94%	+0.41%
Average Drawdown Average peak-to-trough decline	-16.90%	-3.52%	-13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.67%	-0.30%

Volatility

JEMA vs. EVLU - Volatility Comparison

JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) has a higher volatility of 12.49% compared to iShares MSCI Emerging Markets Value Factor ETF (EVLU) at 9.29%. This indicates that JEMA's price experiences larger fluctuations and is considered to be riskier than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMA	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.49%	9.29%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	20.77%	17.64%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	22.96%	20.18%	+2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	20.36%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	20.36%	-0.93%

JEMA vs. EVLU - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is higher than EVLU's 0.35% expense ratio.

Dividends

JEMA vs. EVLU - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.29%, less than EVLU's 3.77% yield.

Position	TTM	2025	2024	2023	2022	2021
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.77%	5.20%	1.03%	0.00%	0.00%	0.00%
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.29%	2.93%	2.44%	2.95%	2.69%	1.54%

Frequently Asked Questions

Can I hold both JEMA and EVLU in my portfolio?

With a correlation of 0.90, JEMA and EVLU 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 EVLU?

JEMA has higher volatility (12.49%) compared to EVLU (9.29%). In terms of maximum drawdown, JEMA dropped -39.50% vs EVLU's -17.17%.

Which ETF is better, JEMA or EVLU?

On 1-year performance, EVLU leads with 59.59% vs 54.31% for JEMA. On fees, EVLU is cheaper at 0.35% per year. On volatility, EVLU has been the lower-risk option at 9.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or EVLU?

Over the 1-year period, EVLU has performed better with a 59.59% return vs 54.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or EVLU?

EVLU is cheaper with a 0.35% expense ratio, compared with 0.39% for JEMA.

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

EVLU has the higher dividend yield at 3.77%, compared with 2.29% for JEMA.

What is the main difference between JEMA and EVLU?

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JEMA and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (2.97 vs 2.38), 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.