JMBA.DE vs. SPFD.DE
JMBA.DE (JPM USD Emerging Markets Sovereign Bond UCITS ETF) and SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) are both Emerging Markets Bonds funds - JMBA.DE tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index while SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged). Both are passively managed. Over the past 5 years, JMBA.DE returned 1.93%/yr vs -1.32%/yr for SPFD.DE. At a 0.05 correlation, their price movements are largely independent. JMBA.DE charges 0.39%/yr vs 0.60%/yr for SPFD.DE.
Performance
JMBA.DE vs. SPFD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JMBA.DE achieves a 4.34% return, which is significantly higher than SPFD.DE's -1.67% return.
JMBA.DE
- 1D
- 0.15%
- 1M
- 0.65%
- 6M
- 3.04%
- YTD
- 4.34%
- 1Y
- 10.59%
- 3Y*
- 6.42%
- 5Y*
- 1.93%
- 10Y*
- —
SPFD.DE
- 1D
- -0.29%
- 1M
- -1.28%
- 6M
- -1.60%
- YTD
- -1.67%
- 1Y
- 1.39%
- 3Y*
- 1.86%
- 5Y*
- -1.32%
- 10Y*
- —
JMBA.DE vs. SPFD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMBA.DE JPM USD Emerging Markets Sovereign Bond UCITS ETF | 4.34% | 0.84% | 7.77% | 5.79% | -10.80% | 5.58% | -4.14% | -7.72% |
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.67% | 12.44% | -4.38% | 6.62% | -12.76% | -9.84% | 1.86% | 3.12% |
Correlation
The correlation between JMBA.DE and SPFD.DE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.05 |
The correlation between JMBA.DE and SPFD.DE shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JMBA.DE vs. SPFD.DE — Risk / Return Rank
JMBA.DE
SPFD.DE
JMBA.DE vs. SPFD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.DE) and State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE). 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.
| JMBA.DE | SPFD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.04 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 0.21 | +3.15 |
| Martin ratioReturn relative to average drawdown | 10.21 | 0.52 | +9.69 |
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Drawdowns
JMBA.DE vs. SPFD.DE - Drawdown Comparison
The maximum JMBA.DE drawdown since its inception was -26.66%, smaller than the maximum SPFD.DE drawdown of -28.89%. Use the drawdown chart below to compare losses from any high point for JMBA.DE and SPFD.DE.
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Drawdown Indicators
| JMBA.DE | SPFD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.66% | -28.89% | +2.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -6.69% | +3.55% |
Max Drawdown (3Y)Largest decline over 3 years | -12.45% | -8.98% | -3.47% |
Max Drawdown (5Y)Largest decline over 5 years | -14.09% | -25.45% | +11.36% |
Current DrawdownCurrent decline from peak | -1.39% | -11.63% | +10.24% |
Average DrawdownAverage peak-to-trough decline | -11.27% | -13.40% | +2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.66% | -1.62% |
Volatility
JMBA.DE vs. SPFD.DE - Volatility Comparison
The current volatility for JPM USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.DE) is 1.13%, while State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) has a volatility of 1.65%. This indicates that JMBA.DE experiences smaller price fluctuations and is considered to be less risky than SPFD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMBA.DE | SPFD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.65% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 6.80% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 7.47% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.43% | 7.99% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.70% | 8.38% | +2.32% |
JMBA.DE vs. SPFD.DE - Expense Ratio Comparison
JMBA.DE has a 0.39% expense ratio, which is lower than SPFD.DE's 0.60% expense ratio.
Dividends
JMBA.DE vs. SPFD.DE - Dividend Comparison
Neither JMBA.DE nor SPFD.DE has paid dividends to shareholders.
Frequently Asked Questions
JMBA.DE and SPFD.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBA.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBA.DE is cheaper with a 0.39% expense ratio, compared with 0.60% for SPFD.DE.
JMBA.DE tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index, while SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged). They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.39% for JMBA.DE and 0.60% for SPFD.DE.
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