JMBA.L vs. EMCR.L
JMBA.L (JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc)) and EMCR.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - JMBA.L tracks the J.P. Morgan Emerging Market Risk Aware Bond Index while EMCR.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, JMBA.L returned 1.31%/yr vs 1.97%/yr for EMCR.L. A 0.60 correlation means they provide meaningful diversification when combined. JMBA.L charges 0.39%/yr vs 0.50%/yr for EMCR.L.
Performance
JMBA.L vs. EMCR.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 lower than EMCR.L's 1.77% 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*
- —
EMCR.L
- 1D
- 0.26%
- 1M
- 0.19%
- 6M
- 1.48%
- YTD
- 1.77%
- 1Y
- 6.02%
- 3Y*
- 6.91%
- 5Y*
- 1.97%
- 10Y*
- 3.51%
JMBA.L vs. EMCR.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% |
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 1.77% | 8.43% | 6.66% | 7.85% | -12.39% | -0.65% | 7.22% | 1.51% |
Correlation
The correlation between JMBA.L and EMCR.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.60 |
The correlation between JMBA.L and EMCR.L has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.
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Return for Risk
JMBA.L vs. EMCR.L — Risk / Return Rank
JMBA.L
EMCR.L
JMBA.L vs. EMCR.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 J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCR.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 | EMCR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.20 | -0.10 |
| Martin ratioReturn relative to average drawdown | 8.82 | 9.44 | -0.63 |
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Drawdowns
JMBA.L vs. EMCR.L - Drawdown Comparison
The maximum JMBA.L drawdown since its inception was -26.75%, which is greater than EMCR.L's maximum drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for JMBA.L and EMCR.L.
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Drawdown Indicators
| JMBA.L | EMCR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.75% | -22.67% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -2.72% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.30% | -3.69% | -3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -20.20% | -5.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.67% | — |
Current DrawdownCurrent decline from peak | -0.83% | -0.18% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -3.28% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.64% | +0.41% |
Volatility
JMBA.L vs. EMCR.L - Volatility Comparison
The current volatility for JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) (JMBA.L) is 0.77%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCR.L) has a volatility of 1.01%. This indicates that JMBA.L experiences smaller price fluctuations and is considered to be less risky than EMCR.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 | EMCR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.01% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 3.50% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.19% | 4.06% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 5.49% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.53% | 7.50% | +3.03% |
JMBA.L vs. EMCR.L - Expense Ratio Comparison
JMBA.L has a 0.39% expense ratio, which is lower than EMCR.L's 0.50% expense ratio.
Dividends
JMBA.L vs. EMCR.L - Dividend Comparison
JMBA.L has not paid dividends to shareholders, while EMCR.L's dividend yield for the trailing twelve months is around 5.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 5.59% | 5.56% | 5.44% | 5.04% | 4.28% | 3.62% | 3.93% | 4.58% | 4.70% | 4.35% | 4.61% | 5.13% |
JMBA.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMBA.L and EMCR.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBA.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBA.L is cheaper with a 0.39% expense ratio, compared with 0.50% for EMCR.L.
JMBA.L tracks J.P. Morgan Emerging Market Risk Aware Bond Index, while EMCR.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JMBA.L and 0.50% for EMCR.L.
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