JMBE.DE vs. HY3M.DE
JMBE.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc)) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - JMBE.DE tracks the JPM EMBI Global Diversified Hedge TR EUR while HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, JMBE.DE returned -0.88%/yr vs 3.37%/yr for HY3M.DE. At a correlation of -0.01, they often move in opposite directions. JMBE.DE charges 0.39%/yr vs 0.40%/yr for HY3M.DE.
Performance
JMBE.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JMBE.DE achieves a 0.54% return, which is significantly lower than HY3M.DE's 6.33% return.
JMBE.DE
- 1D
- 0.02%
- 1M
- -0.85%
- 6M
- 0.94%
- YTD
- 0.54%
- 1Y
- 7.24%
- 3Y*
- 5.10%
- 5Y*
- -0.88%
- 10Y*
- —
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
JMBE.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JMBE.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) | 0.54% | 11.00% | 0.03% | 7.02% | -18.34% | -3.60% | 3.18% | 15.07% | 0.07% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -0.13% |
Correlation
The correlation between JMBE.DE and HY3M.DE is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2018 | -0.01 |
The correlation between JMBE.DE and HY3M.DE shifts across timeframes, from -0.20 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JMBE.DE vs. HY3M.DE — Risk / Return Rank
JMBE.DE
HY3M.DE
JMBE.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.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.
| JMBE.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 3.41 | -1.88 |
| Martin ratioReturn relative to average drawdown | 6.03 | 10.01 | -3.97 |
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Drawdowns
JMBE.DE vs. HY3M.DE - Drawdown Comparison
The maximum JMBE.DE drawdown since its inception was -28.18%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for JMBE.DE and HY3M.DE.
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Drawdown Indicators
| JMBE.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -21.08% | -7.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.73% | -3.08% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -7.78% | -12.09% | +4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -27.72% | -13.58% | -14.14% |
Current DrawdownCurrent decline from peak | -6.01% | -1.17% | -4.84% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -7.04% | -3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.05% | +0.15% |
Volatility
JMBE.DE vs. HY3M.DE - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) is 1.07%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.97%. This indicates that JMBE.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMBE.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.97% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 5.14% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 6.85% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.55% | 8.61% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.60% | 13.20% | -3.60% |
JMBE.DE vs. HY3M.DE - Expense Ratio Comparison
JMBE.DE has a 0.39% expense ratio, which is lower than HY3M.DE's 0.40% expense ratio.
Dividends
JMBE.DE vs. HY3M.DE - Dividend Comparison
Neither JMBE.DE nor HY3M.DE has paid dividends to shareholders.
Frequently Asked Questions
JMBE.DE and HY3M.DE have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBE.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBE.DE is cheaper with a 0.39% expense ratio, compared with 0.40% for HY3M.DE.
JMBE.DE tracks JPM EMBI Global Diversified Hedge TR EUR, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.39% for JMBE.DE and 0.40% for HY3M.DE.
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