JEMA vs. XCEM

Last updated Jun 24, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and XCEM (Columbia EM Core ex-China ETF) are both Emerging Markets Equities funds. JEMA is actively managed, while XCEM is passively managed. Over the past 5 years, JEMA returned 6.79%/yr vs 11.50%/yr for XCEM. Their correlation of 0.89 suggests significant overlap in exposure. JEMA charges 0.39%/yr vs 0.16%/yr for XCEM.

Performance

JEMA vs. XCEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and Columbia EM Core ex-China ETF (XCEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMA achieves a 27.73% return, which is significantly lower than XCEM's 34.20% return.

JEMA

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

XCEM

• 1D: -6.33%
• 1M: 4.21%
• YTD: 34.20%
• 6M: 36.41%
• 1Y: 61.17%
• 3Y*: 24.94%
• 5Y*: 11.50%
• 10Y*: 12.62%

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

JEMA vs. XCEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	27.73%	34.89%	5.68%	9.82%	-24.98%	-4.72%
XCEM Columbia EM Core ex-China ETF	34.20%	34.05%	0.42%	19.96%	-17.59%	1.45%

Correlation

The correlation between JEMA and XCEM 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 11, 2021	0.89

The correlation between JEMA and XCEM has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

JEMA vs. XCEM - Sectors Allocation Comparison

Sectors	JEMA	XCEM
Technology	46.7%	37.1%
Financial Services	19.2%	22.8%
Consumer Cyclical	8.6%	6.3%
Industrials	7.3%	9.7%
Communication Services	6.3%	4.2%
Basic Materials	3.4%	6.4%
Energy	3.3%	3.8%
Consumer Defensive	2.0%	3.0%
Healthcare	1.4%	2.9%
Utilities	1.2%	1.9%
Real Estate	0.7%	1.8%

Return for Risk

JEMA vs. XCEM — 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

XCEM

XCEM Risk / Return Rank: 82
XCEM Sharpe Ratio Rank: 83
XCEM Sortino Ratio Rank: 74
XCEM Omega Ratio Rank: 83
XCEM Calmar Ratio Rank: 83
XCEM 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. XCEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and Columbia EM Core ex-China ETF (XCEM). 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	XCEM	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.53	-0.16
Sortino ratio: Return per unit of downside risk	2.95	3.12	-0.18
Omega ratio: Gain probability vs. loss probability	1.45	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	4.16	4.25	-0.09
Martin ratio: Return relative to average drawdown	16.18	16.39	-0.21

JEMA vs. XCEM - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 2.38, which is comparable to the XCEM Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of JEMA and XCEM, 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. XCEM - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, roughly equal to the maximum XCEM drawdown of -41.24%. Use the drawdown chart below to compare losses from any high point for JEMA and XCEM.

Drawdown Indicators

	JEMA	XCEM	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-41.24%	+1.74%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-14.46%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-18.92%	+0.81%
Max Drawdown (5Y) Largest decline over 5 years	-39.39%	-29.57%	-9.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.24%	—
Current Drawdown Current decline from peak	-5.53%	-6.33%	+0.80%
Average Drawdown Average peak-to-trough decline	-16.90%	-8.57%	-8.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	3.74%	-0.37%

Volatility

JEMA vs. XCEM - Volatility Comparison

The current volatility for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) is 12.49%, while Columbia EM Core ex-China ETF (XCEM) has a volatility of 14.01%. This indicates that JEMA experiences smaller price fluctuations and is considered to be less risky than XCEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMA	XCEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.49%	14.01%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	20.77%	22.56%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	22.96%	24.28%	-1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	18.60%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	19.94%	-0.51%

JEMA vs. XCEM - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is higher than XCEM's 0.16% expense ratio.

Dividends

JEMA vs. XCEM - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.29%, less than XCEM's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.29%	2.93%	2.44%	2.95%	2.69%	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XCEM Columbia EM Core ex-China ETF	2.42%	3.25%	2.76%	1.22%	2.42%	1.94%	1.63%	2.11%	2.70%	9.56%	1.24%	2.63%

Frequently Asked Questions

Can I hold both JEMA and XCEM in my portfolio?

With a correlation of 0.94, JEMA and XCEM 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 XCEM?

XCEM has higher volatility (14.01%) compared to JEMA (12.49%). In terms of maximum drawdown, JEMA dropped -39.50% vs XCEM's -41.24%.

Which ETF is better, JEMA or XCEM?

On 5-year performance, XCEM leads with 11.50% vs 6.79% for JEMA. On fees, XCEM is cheaper at 0.16% per year. On volatility, JEMA has been the lower-risk option at 12.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or XCEM?

Over the 5-year period, XCEM has performed better with a 11.50% return vs 6.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or XCEM?

XCEM is cheaper with a 0.16% expense ratio, compared with 0.39% for JEMA.

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

XCEM has the higher dividend yield at 2.42%, compared with 2.29% for JEMA.

What is the main difference between JEMA and XCEM?

They also come from different issuers: JPMorgan and Ameriprise Financial. Their fees differ too: 0.39% for JEMA and 0.16% for XCEM.

Which has better risk-adjusted returns?

XCEM currently has the higher Sharpe Ratio (2.53 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.