JMBE.DE vs. VGEM.DE
JMBE.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc)) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - JMBE.DE tracks the JPM EMBI Global Diversified Hedge TR EUR while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, JMBE.DE returned -0.64%/yr vs 2.73%/yr for VGEM.DE. At a 0.45 correlation, their price movements are largely independent. JMBE.DE charges 0.39%/yr vs 0.25%/yr for VGEM.DE.
Performance
JMBE.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JMBE.DE achieves a 0.85% return, which is significantly lower than VGEM.DE's 2.34% return.
JMBE.DE
- 1D
- 0.23%
- 1M
- 0.83%
- YTD
- 0.85%
- 6M
- 1.04%
- 1Y
- 8.47%
- 3Y*
- 5.74%
- 5Y*
- -0.64%
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
JMBE.DE vs. VGEM.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) | 0.85% | 11.00% | 0.03% | 7.01% | -18.34% | -3.60% | 3.18% | 15.07% | -1.11% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 15.57% | 0.93% |
Correlation
The correlation between JMBE.DE and VGEM.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.45 |
The correlation between JMBE.DE and VGEM.DE shifts across timeframes, from 0.29 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JMBE.DE vs. VGEM.DE — Risk / Return Rank
JMBE.DE
VGEM.DE
JMBE.DE vs. VGEM.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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.
| JMBE.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 2.16 | -0.38 |
| Martin ratioReturn relative to average drawdown | 7.10 | 5.71 | +1.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JMBE.DE | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.13 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 0.34 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.29 | -0.15 |
Drawdowns
JMBE.DE vs. VGEM.DE - Drawdown Comparison
The maximum JMBE.DE drawdown since its inception was -28.19%, which is greater than VGEM.DE's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for JMBE.DE and VGEM.DE.
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Drawdown Indicators
| JMBE.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.19% | -19.64% | -8.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.73% | -3.10% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -7.78% | -11.98% | +4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -27.72% | -12.46% | -15.26% |
Current DrawdownCurrent decline from peak | -5.72% | -2.18% | -3.54% |
Average DrawdownAverage peak-to-trough decline | -10.41% | -6.63% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.17% | +0.02% |
Volatility
JMBE.DE vs. VGEM.DE - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) has a higher volatility of 1.91% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) at 1.18%. This indicates that JMBE.DE's price experiences larger fluctuations and is considered to be riskier than VGEM.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 | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.18% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.57% | 3.96% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 5.93% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.54% | 7.89% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.66% | 8.77% | +0.89% |
JMBE.DE vs. VGEM.DE - Expense Ratio Comparison
JMBE.DE has a 0.39% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
JMBE.DE vs. VGEM.DE - Dividend Comparison
JMBE.DE has not paid dividends to shareholders, while VGEM.DE's dividend yield for the trailing twelve months is around 5.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JMBE.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
JMBE.DE and VGEM.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.39% for JMBE.DE.
JMBE.DE tracks JPM EMBI Global Diversified Hedge TR EUR, while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.39% for JMBE.DE and 0.25% for VGEM.DE.
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