JMAB.L vs. CNYB.L
JMAB.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - JMAB.L tracks the JPM EMBI Global Diversified TR USD while CNYB.L tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, JMAB.L returned 1.79%/yr vs 3.58%/yr for CNYB.L. At a 0.45 correlation, their price movements are largely independent. JMAB.L charges 0.39%/yr vs 0.35%/yr for CNYB.L.
Performance
JMAB.L vs. CNYB.L - Performance Comparison
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Returns By Period
In the year-to-date period, JMAB.L achieves a 1.55% return, which is significantly lower than CNYB.L's 5.09% return.
JMAB.L
- 1D
- 0.29%
- 1M
- -1.04%
- 6M
- 1.28%
- YTD
- 1.55%
- 1Y
- 8.85%
- 3Y*
- 6.28%
- 5Y*
- 1.79%
- 10Y*
- —
CNYB.L
- 1D
- 0.24%
- 1M
- -0.35%
- 6M
- 4.32%
- YTD
- 5.09%
- 1Y
- 7.12%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
JMAB.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 1.55% | 5.64% | 3.61% | 3.51% | -6.11% | -1.18% | 1.75% | -21.71% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.09% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 1.54% |
Correlation
The correlation between JMAB.L and CNYB.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.45 |
The correlation between JMAB.L and CNYB.L shifts across timeframes, from 0.45 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JMAB.L vs. CNYB.L — Risk / Return Rank
JMAB.L
CNYB.L
JMAB.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.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.
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.
| JMAB.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.58 | -0.56 |
| Martin ratioReturn relative to average drawdown | 5.40 | 6.11 | -0.71 |
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Drawdowns
JMAB.L vs. CNYB.L - Drawdown Comparison
The maximum JMAB.L drawdown since its inception was -31.26%, which is greater than CNYB.L's maximum drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for JMAB.L and CNYB.L.
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Drawdown Indicators
| JMAB.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.26% | -25.82% | -5.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.38% | -2.75% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -8.77% | -9.03% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -15.44% | -7.27% |
Current DrawdownCurrent decline from peak | -15.63% | -7.24% | -8.39% |
Average DrawdownAverage peak-to-trough decline | -23.31% | -12.52% | -10.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.16% | +0.48% |
Volatility
JMAB.L vs. CNYB.L - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.L) has a higher volatility of 1.35% compared to iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) at 1.24%. This indicates that JMAB.L's price experiences larger fluctuations and is considered to be riskier than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMAB.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.24% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 4.69% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 6.29% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.72% | 7.65% | +10.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 11.47% | +7.44% |
JMAB.L vs. CNYB.L - Expense Ratio Comparison
JMAB.L has a 0.39% expense ratio, which is higher than CNYB.L's 0.35% expense ratio.
Dividends
JMAB.L vs. CNYB.L - Dividend Comparison
JMAB.L has not paid dividends to shareholders, while CNYB.L's dividend yield for the trailing twelve months is around 1.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% |
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMAB.L and CNYB.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNYB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNYB.L is cheaper with a 0.35% expense ratio, compared with 0.39% for JMAB.L.
JMAB.L tracks JPM EMBI Global Diversified TR USD, while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JMAB.L and 0.35% for CNYB.L.
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