JMBA.L vs. AGGU.L
JMBA.L (JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc)) and AGGU.L (iShares Core Global Aggregate Bond UCITS ETF) are both exchange-traded funds - JMBA.L is a Emerging Markets Bonds fund tracking the J.P. Morgan Emerging Market Risk Aware Bond Index, while AGGU.L is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond Index. Both are passively managed. Over the past 5 years, JMBA.L returned 1.31%/yr vs 0.42%/yr for AGGU.L. At a 0.49 correlation, their price movements are largely independent. JMBA.L charges 0.39%/yr vs 0.10%/yr for AGGU.L.
Performance
JMBA.L vs. AGGU.L - Performance Comparison
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Returns By Period
In the year-to-date period, JMBA.L achieves a 1.62% return, which is significantly higher than AGGU.L's 0.52% return.
JMBA.L
- 1D
- 0.12%
- 1M
- -0.60%
- 6M
- 1.83%
- YTD
- 1.62%
- 1Y
- 9.28%
- 3Y*
- 7.14%
- 5Y*
- 1.31%
- 10Y*
- —
AGGU.L
- 1D
- 0.17%
- 1M
- -0.34%
- 6M
- 0.52%
- YTD
- 0.52%
- 1Y
- 3.18%
- 3Y*
- 4.08%
- 5Y*
- 0.42%
- 10Y*
- —
JMBA.L vs. AGGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMBA.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) | 1.62% | 13.26% | 2.01% | 9.51% | -16.13% | -2.45% | 5.36% | 3.30% |
AGGU.L iShares Core Global Aggregate Bond UCITS ETF | 0.52% | 4.68% | 3.54% | 6.65% | -11.53% | -1.81% | 5.15% | 0.35% |
Correlation
The correlation between JMBA.L and AGGU.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.49 |
The correlation between JMBA.L and AGGU.L shifts across timeframes, from 0.49 (all time) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMBA.L vs. AGGU.L — Risk / Return Rank
JMBA.L
AGGU.L
JMBA.L vs. AGGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) (JMBA.L) and iShares Core Global Aggregate Bond UCITS ETF (AGGU.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.
| JMBA.L | AGGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.17 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 1.44 | +0.67 |
| Martin ratioReturn relative to average drawdown | 8.82 | 4.15 | +4.66 |
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Drawdowns
JMBA.L vs. AGGU.L - Drawdown Comparison
The maximum JMBA.L drawdown since its inception was -26.75%, which is greater than AGGU.L's maximum drawdown of -15.55%. Use the drawdown chart below to compare losses from any high point for JMBA.L and AGGU.L.
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Drawdown Indicators
| JMBA.L | AGGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.75% | -15.55% | -11.20% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -2.21% | -2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -7.30% | -3.47% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -15.20% | -10.71% |
Current DrawdownCurrent decline from peak | -0.83% | -0.85% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -3.84% | -4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.76% | +0.29% |
Volatility
JMBA.L vs. AGGU.L - Volatility Comparison
The current volatility for JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) (JMBA.L) is 0.77%, while iShares Core Global Aggregate Bond UCITS ETF (AGGU.L) has a volatility of 1.05%. This indicates that JMBA.L experiences smaller price fluctuations and is considered to be less risky than AGGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMBA.L | AGGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.05% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 2.77% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.19% | 3.36% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 4.86% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.53% | 4.47% | +6.06% |
JMBA.L vs. AGGU.L - Expense Ratio Comparison
JMBA.L has a 0.39% expense ratio, which is higher than AGGU.L's 0.10% expense ratio.
Dividends
JMBA.L vs. AGGU.L - Dividend Comparison
Neither JMBA.L nor AGGU.L has paid dividends to shareholders.
Frequently Asked Questions
JMBA.L and AGGU.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGGU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGGU.L is cheaper with a 0.10% expense ratio, compared with 0.39% for JMBA.L.
JMBA.L is categorized as Emerging Markets Bonds, while AGGU.L is Global Bonds. JMBA.L tracks J.P. Morgan Emerging Market Risk Aware Bond Index, while AGGU.L tracks Bloomberg Global Aggregate Bond Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JMBA.L and 0.10% for AGGU.L.
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