JMBA.L vs. JPMB.L

Last updated Jul 16, 2026

JMBA.L (JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc)) and JPMB.L (JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist)) are both Global Bonds funds from JPMorgan - JMBA.L tracks the JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc) while JPMB.L tracks the JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist). Both are passively managed. Over the past 5 years, JMBA.L returned 1.31%/yr vs 1.32%/yr for JPMB.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.39% expense ratio.

Performance

JMBA.L vs. JPMB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc) (JMBA.L) and JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist) (JPMB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMBA.L achieves a 1.60% return, which is significantly lower than JPMB.L's 1.73% return.

JMBA.L

• 1D: 0.03%
• 1M: -0.86%
• 6M: 1.96%
• YTD: 1.60%
• 1Y: 9.48%
• 3Y*: 7.23%
• 5Y*: 1.31%
• 10Y*: —

JPMB.L

• 1D: 0.11%
• 1M: -0.58%
• 6M: 2.01%
• YTD: 1.73%
• 1Y: 9.61%
• 3Y*: 7.36%
• 5Y*: 1.32%
• 10Y*: —

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

JMBA.L vs. JPMB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JMBA.L JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc)	1.60%	13.26%	2.01%	9.51%	-16.13%	-2.45%	5.36%	3.30%
JPMB.L JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist)	1.73%	13.29%	1.97%	9.51%	-16.15%	-2.40%	5.30%	3.34%

Correlation

The correlation between JMBA.L and JPMB.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019	0.96

The correlation between JMBA.L and JPMB.L has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

JMBA.L vs. JPMB.L — Risk / Return Rank

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

JMBA.L

JMBA.L Risk / Return Rank: 69
JMBA.L Sharpe Ratio Rank: 70
JMBA.L Sortino Ratio Rank: 81
JMBA.L Omega Ratio Rank: 76
JMBA.L Calmar Ratio Rank: 53
JMBA.L Martin Ratio Rank: 64

JPMB.L

JPMB.L Risk / Return Rank: 69
JPMB.L Sharpe Ratio Rank: 70
JPMB.L Sortino Ratio Rank: 80
JPMB.L Omega Ratio Rank: 75
JPMB.L Calmar Ratio Rank: 53
JPMB.L Martin Ratio Rank: 66

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.

JMBA.L vs. JPMB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc) (JMBA.L) and JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist) (JPMB.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	JPMB.L	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.81	+0.01
Sortino ratio: Return per unit of downside risk	2.90	2.87	+0.03
Omega ratio: Gain probability vs. loss probability	1.36	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	2.15	2.16	-0.01
Martin ratio: Return relative to average drawdown	9.04	9.45	-0.41

JMBA.L vs. JPMB.L - Sharpe Ratio Comparison

The current JMBA.L Sharpe Ratio is 1.82, which is comparable to the JPMB.L Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of JMBA.L and JPMB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JMBA.L vs. JPMB.L - Drawdown Comparison

The maximum JMBA.L drawdown since its inception was -26.75%, roughly equal to the maximum JPMB.L drawdown of -26.70%. Use the drawdown chart below to compare losses from any high point for JMBA.L and JPMB.L.

Drawdown Indicators

	JMBA.L	JPMB.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.75%	-26.70%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	-4.51%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-7.30%	-7.27%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-25.91%	-25.95%	+0.04%
Current Drawdown Current decline from peak	-0.86%	-0.71%	-0.15%
Average Drawdown Average peak-to-trough decline	-8.30%	-6.95%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	1.04%	+0.01%

Volatility

JMBA.L vs. JPMB.L - Volatility Comparison

The current volatility for JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc) (JMBA.L) is 0.76%, while JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist) (JPMB.L) has a volatility of 1.01%. This indicates that JMBA.L experiences smaller price fluctuations and is considered to be less risky than JPMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMBA.L	JPMB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	1.01%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	4.38%	4.55%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	5.41%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.44%	8.48%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.54%	9.61%	+0.93%

JMBA.L vs. JPMB.L - Expense Ratio Comparison

Both JMBA.L and JPMB.L have an expense ratio of 0.39%.

Dividends

JMBA.L vs. JPMB.L - Dividend Comparison

JMBA.L has not paid dividends to shareholders, while JPMB.L's dividend yield for the trailing twelve months is around 5.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBA.L JPMorgan ETFs (Ireland) ICAV - 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%
JPMB.L JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist)	5.89%	5.98%	5.84%	5.31%	5.49%	4.13%	4.08%	4.41%	4.13%

Frequently Asked Questions

Can I hold both JMBA.L and JPMB.L in my portfolio?

With a correlation of 0.90, JMBA.L and JPMB.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JMBA.L or JPMB.L?

Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMBA.L or JPMB.L?

JMBA.L and JPMB.L have the same expense ratio: 0.39% per year.

What is the main difference between JMBA.L and JPMB.L?

JMBA.L tracks JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (acc), while JPMB.L tracks JPMorgan ETFs (Ireland) ICAV - USD Emerging Markets Sovereign Bond UCITS ETF USD (dist).