JG15.L vs. CE31.L

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) and iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L).

JG15.L and CE31.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JG15.L is a passively managed fund by JPMorgan that tracks the performance of the FTSE Act UK Cnvt Gilts All Stocks TR GBP. It was launched on Jun 6, 2018. CE31.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Agg Govt 1-3 Yr TR EUR. It was launched on Jun 2, 2009. Both JG15.L and CE31.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

JG15.L vs. CE31.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) and iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L). The values are adjusted to include any dividend payments, if applicable.

JG15.L vs. CE31.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)	-0.41%	5.58%	1.79%	3.85%	-5.75%	-1.91%	1.86%	1.33%	0.58%
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	-0.43%	7.55%	-1.61%	1.46%	1.17%	-7.40%	5.40%	-4.80%	2.18%

Different Trading Currencies

JG15.L is traded in GBP, while CE31.L is traded in GBp. To make them comparable, the CE31.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with JG15.L having a -0.41% return and CE31.L slightly lower at -0.43%.

JG15.L

• 1D: 0.26%
• 1M: -1.31%
• YTD: -0.41%
• 6M: 1.15%
• 1Y: 3.41%
• 3Y*: 3.26%
• 5Y*: 0.70%
• 10Y*: —

CE31.L

• 1D: -0.09%
• 1M: -1.02%
• YTD: -0.43%
• 6M: 0.26%
• 1Y: 5.52%
• 3Y*: 2.33%
• 5Y*: 1.17%
• 10Y*: 1.16%

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

JG15.L vs. CE31.L - Expense Ratio Comparison

JG15.L has a 0.07% expense ratio, which is lower than CE31.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

CE31.L

iShares Euro Government Bond 1-3yr UCITS ETF (Acc)

JG15.L

JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)

Return for Risk

JG15.L vs. CE31.L — Risk / Return Rank

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

JG15.L

JG15.L Risk / Return Rank: 71
JG15.L Sharpe Ratio Rank: 81
JG15.L Sortino Ratio Rank: 82
JG15.L Omega Ratio Rank: 81
JG15.L Calmar Ratio Rank: 50
JG15.L Martin Ratio Rank: 62

CE31.L

CE31.L Risk / Return Rank: 58
CE31.L Sharpe Ratio Rank: 60
CE31.L Sortino Ratio Rank: 68
CE31.L Omega Ratio Rank: 52
CE31.L Calmar Ratio Rank: 66
CE31.L Martin Ratio Rank: 42

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.

JG15.L vs. CE31.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) and iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L). 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.

	JG15.L	CE31.L	Difference
Sharpe ratio Return per unit of total volatility	1.62	1.12	+0.50
Sortino ratio Return per unit of downside risk	2.28	1.78	+0.51
Omega ratio Gain probability vs. loss probability	1.33	1.21	+0.12
Calmar ratio Return relative to maximum drawdown	1.46	1.77	-0.31
Martin ratio Return relative to average drawdown	6.92	4.12	+2.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JG15.L vs. CE31.L - Sharpe Ratio Comparison

The current JG15.L Sharpe Ratio is 1.62, which is higher than the CE31.L Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of JG15.L and CE31.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JG15.L	CE31.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.12	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.22	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.08	+0.25

Correlation

The correlation between JG15.L and CE31.L is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JG15.L vs. CE31.L - Dividend Comparison

JG15.L's dividend yield for the trailing twelve months is around 3.79%, while CE31.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JG15.L JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist)	3.79%	3.71%	3.44%	2.28%	0.68%	0.12%	0.34%	0.91%	0.35%
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JG15.L vs. CE31.L - Drawdown Comparison

The maximum JG15.L drawdown since its inception was -11.35%, smaller than the maximum CE31.L drawdown of -18.33%. Use the drawdown chart below to compare losses from any high point for JG15.L and CE31.L.

Drawdown Indicators

	JG15.L	CE31.L	Difference
Max Drawdown Largest peak-to-trough decline	-11.35%	-18.33%	+6.98%
Max Drawdown (1Y) Largest decline over 1 year	-2.35%	-3.05%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-10.68%	-6.70%	-3.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.14%	—
Current Drawdown Current decline from peak	-1.57%	-3.52%	+1.95%
Average Drawdown Average peak-to-trough decline	-2.44%	-7.29%	+4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	1.31%	-0.81%

Volatility

JG15.L vs. CE31.L - Volatility Comparison

JPMorgan BetaBuilders UK Gilt 1-5 UCITS ETF - GBP (Dist) (JG15.L) has a higher volatility of 1.28% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) at 1.20%. This indicates that JG15.L's price experiences larger fluctuations and is considered to be riskier than CE31.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JG15.L	CE31.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	1.20%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	2.95%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.09%	4.91%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	5.37%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.53%	7.18%	-4.65%