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JEMA vs. VWO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JEMA vs. VWO

Last updated Aug 2, 2026
Documentation

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds. JEMA is actively managed, while VWO is passively managed. Over the past 5 years, JEMA returned 6.81%/yr vs 6.08%/yr for VWO. Their 0.95 correlation means they have historically moved very closely together. JEMA charges 0.39%/yr vs 0.08%/yr for VWO.

Performance

JEMA vs. VWO - Performance Comparison

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

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Returns By Period

In the year-to-date period, JEMA achieves a 20.95% return, which is significantly higher than VWO's 9.41% return.

JEMA

1D
0.56%
1M
-3.42%
6M
11.38%
YTD
20.95%
1Y
41.92%
3Y*
19.25%
5Y*
6.81%
10Y*
—
ALL TIME*
5.78%

VWO

1D
0.96%
1M
-0.49%
6M
4.16%
YTD
9.41%
1Y
21.69%
3Y*
14.84%
5Y*
6.08%
10Y*
7.86%
ALL TIME*
6.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

JEMA

JPMorgan ActiveBuilders Emerging Markets Equity ETF
$13.60M$9.15M$8.02M

VWO

Vanguard FTSE Emerging Markets ETF
$386.61M$469.40M$499.89M

JEMA vs. VWO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
JEMA
JPMorgan ActiveBuilders Emerging Markets Equity ETF		20.95%34.89%5.68%9.82%-24.98%-4.72%
VWO
Vanguard FTSE Emerging Markets ETF		9.41%25.60%10.59%9.25%-17.98%-2.89%

Correlation

The correlation between JEMA and VWO is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.94

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.95

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2021

0.95

The correlation between JEMA and VWO has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

JEMA vs. VWO - Sectors Allocation Comparison

Sectors
JEMA
VWO

Technology

48.4%
34.2%

Financial Services

19.1%
19.4%

Consumer Cyclical

7.7%
9.1%

Industrials

7.5%
7.9%

Communication Services

6.3%
6.6%

Basic Materials

3.0%
7.2%

Energy

2.8%
3.8%

Consumer Defensive

1.8%
3.3%

Healthcare

1.5%
3.7%

Utilities

1.3%
2.8%

Real Estate

0.5%
2.0%

Technology

JEMA
48.4%
VWO
34.2%

Financial Services

JEMA
19.1%
VWO
19.4%

Consumer Cyclical

JEMA
7.7%
VWO
9.1%

Industrials

JEMA
7.5%
VWO
7.9%

Communication Services

JEMA
6.3%
VWO
6.6%

Basic Materials

JEMA
3.0%
VWO
7.2%

Energy

JEMA
2.8%
VWO
3.8%

Consumer Defensive

JEMA
1.8%
VWO
3.3%

Healthcare

JEMA
1.5%
VWO
3.7%

Utilities

JEMA
1.3%
VWO
2.8%

Real Estate

JEMA
0.5%
VWO
2.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan ActiveBuilders Emerging Markets Equity ETF

Vanguard FTSE Emerging Markets ETF

Often compared with JEMA:
JEMA vs. JIGJEMA vs. JEMI.LJEMA vs. BBUSJEMA vs. VJPN.LJEMA vs. SCHYJEMA vs. VOOJEMA vs. VEA
Often compared with VWO:
VWO vs. VEAVWO vs. IEMGVWO vs. VXUSVWO vs. EEMVWO vs. VOOVWO vs. VTIVWO vs. VEMAX

Return for Risk

JEMA vs. VWO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
JEMA
JEMA Risk / Return Rank: 7474
Overall Rank
JEMA Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
JEMA Sortino Ratio Rank: 6767
Sortino Ratio Rank
JEMA Omega Ratio Rank: 7474
Omega Ratio Rank
JEMA Calmar Ratio Rank: 7979
Calmar Ratio Rank
JEMA Martin Ratio Rank: 7575
Martin Ratio Rank
VWO
VWO Risk / Return Rank: 5151
Overall Rank
VWO Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
VWO Sortino Ratio Rank: 4848
Sortino Ratio Rank
VWO Omega Ratio Rank: 4949
Omega Ratio Rank
VWO Calmar Ratio Rank: 5454
Calmar Ratio Rank
VWO Martin Ratio Rank: 5353
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JEMA vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and Vanguard FTSE Emerging Markets ETF (VWO). 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.

JEMAVWODifference
Sharpe ratioReturn per unit of total volatility
1.67
1.20

+0.46

Sortino ratioReturn per unit of downside risk
2.19
1.72

+0.47

Omega ratioGain probability vs. loss probability

1.31

1.22

+0.09

Calmar ratioReturn relative to maximum drawdown

2.81

1.89

+0.92

Martin ratioReturn relative to average drawdown

9.36

6.16

+3.20

JEMA vs. VWO - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 1.67, which is higher than the VWO Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of JEMA and VWO, 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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Drawdowns

JEMA vs. VWO - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for JEMA and VWO.

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Drawdown Indicators

JEMAVWODifference

Max Drawdown

Largest peak-to-trough decline

-39.50%

-67.68%

+28.18%

Max Drawdown (1Y)

Largest decline over 1 year

-14.65%

-11.17%

-3.48%

Max Drawdown (3Y)

Largest decline over 3 years

-18.11%

-17.37%

-0.74%

Max Drawdown (5Y)

Largest decline over 5 years

-37.46%

-30.88%

-6.58%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.39%

—

Current Drawdown

Current decline from peak

-10.55%

-4.07%

-6.48%

Average Drawdown

Average peak-to-trough decline

-16.72%

-15.73%

-0.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

3.43%

+0.96%

Volatility

JEMA vs. VWO - Volatility Comparison

JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) has a higher volatility of 9.42% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.58%. This indicates that JEMA's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JEMAVWODifference

Volatility (1M)

Calculated over the trailing 1-month period

9.42%

5.58%

+3.84%

Volatility (6M)

Calculated over the trailing 6-month period

22.58%

15.22%

+7.36%

Volatility (1Y)

Calculated over the trailing 1-year period

24.72%

17.58%

+7.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.97%

17.56%

+2.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.70%

19.17%

+0.53%

JEMA vs. VWO - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

JEMA vs. VWO - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.42%, more than VWO's 2.35% yield.

PositionTTM20252024202320222021202020192018201720162015
JEMA
JPMorgan ActiveBuilders Emerging Markets Equity ETF		2.42%2.93%2.44%2.95%2.69%1.54%0.00%0.00%0.00%0.00%0.00%0.00%
VWO
Vanguard FTSE Emerging Markets ETF		2.35%2.79%3.20%3.52%4.11%2.63%1.91%3.23%2.88%2.30%2.52%3.26%

Frequently Asked Questions

With a correlation of 0.91, JEMA and VWO 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.

JEMA has higher volatility (9.42%) compared to VWO (5.58%). In terms of maximum drawdown, JEMA dropped -39.50% vs VWO's -67.68%.

On 5-year performance, JEMA leads with 6.81% vs 6.08% for VWO. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 5.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, JEMA has performed better with a 6.81% return vs 6.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VWO is cheaper with a 0.08% expense ratio, compared with 0.39% for JEMA.

JEMA has the higher dividend yield at 2.42%, compared with 2.35% for VWO.

They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.39% for JEMA and 0.08% for VWO.

JEMA currently has the higher Sharpe Ratio (1.67 vs 1.20), 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.

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