JMBE.DE vs. ZPR5.DE

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE).

JMBE.DE and ZPR5.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMBE.DE is a passively managed fund by JPMorgan that tracks the performance of the JPM EMBI Global Diversified Hedge TR EUR. It was launched on Oct 10, 2018. ZPR5.DE is a passively managed fund by State Street that tracks the performance of the ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. It was launched on Nov 12, 2014. Both JMBE.DE and ZPR5.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

JMBE.DE vs. ZPR5.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE). The values are adjusted to include any dividend payments, if applicable.

JMBE.DE vs. ZPR5.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)	-2.24%	11.00%	0.03%	7.01%	-18.34%	-3.60%	3.18%	15.07%	-1.11%
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	1.21%	-4.12%	11.04%	2.52%	-1.06%	7.98%	-6.72%	8.14%	2.10%

Returns By Period

In the year-to-date period, JMBE.DE achieves a -2.24% return, which is significantly lower than ZPR5.DE's 1.21% return.

JMBE.DE

• 1D: 0.71%
• 1M: -2.71%
• YTD: -2.24%
• 6M: -0.96%
• 1Y: 5.66%
• 3Y*: 4.47%
• 5Y*: -0.68%
• 10Y*: —

ZPR5.DE

• 1D: -0.40%
• 1M: 0.07%
• YTD: 1.21%
• 6M: 2.84%
• 1Y: -1.62%
• 3Y*: 3.46%
• 5Y*: 2.56%
• 10Y*: 2.27%

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

JMBE.DE vs. ZPR5.DE - Expense Ratio Comparison

JMBE.DE has a 0.39% expense ratio, which is lower than ZPR5.DE's 0.42% expense ratio.

ZPR5.DE

SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF

JMBE.DE

JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc)

Return for Risk

JMBE.DE vs. ZPR5.DE — Risk / Return Rank

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

JMBE.DE

JMBE.DE Risk / Return Rank: 45
JMBE.DE Sharpe Ratio Rank: 47
JMBE.DE Sortino Ratio Rank: 45
JMBE.DE Omega Ratio Rank: 43
JMBE.DE Calmar Ratio Rank: 41
JMBE.DE Martin Ratio Rank: 47

ZPR5.DE

ZPR5.DE Risk / Return Rank: 7
ZPR5.DE Sharpe Ratio Rank: 8
ZPR5.DE Sortino Ratio Rank: 6
ZPR5.DE Omega Ratio Rank: 7
ZPR5.DE Calmar Ratio Rank: 8
ZPR5.DE Martin Ratio Rank: 8

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.

JMBE.DE vs. ZPR5.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 SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.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	ZPR5.DE	Difference
Sharpe ratio Return per unit of total volatility	0.91	-0.23	+1.15
Sortino ratio Return per unit of downside risk	1.32	-0.27	+1.58
Omega ratio Gain probability vs. loss probability	1.18	0.97	+0.21
Calmar ratio Return relative to maximum drawdown	1.22	-0.24	+1.46
Martin ratio Return relative to average drawdown	5.03	-0.49	+5.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMBE.DE vs. ZPR5.DE - Sharpe Ratio Comparison

The current JMBE.DE Sharpe Ratio is 0.91, which is higher than the ZPR5.DE Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of JMBE.DE and ZPR5.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JMBE.DE	ZPR5.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	-0.23	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.36	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.38	-0.28

Correlation

The correlation between JMBE.DE and ZPR5.DE is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JMBE.DE vs. ZPR5.DE - Dividend Comparison

JMBE.DE has not paid dividends to shareholders, while ZPR5.DE's dividend yield for the trailing twelve months is around 4.87%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	4.87%	5.10%	4.16%	3.16%	2.54%	2.63%	3.53%	3.34%	2.73%	3.18%	2.72%	1.83%

Drawdowns

JMBE.DE vs. ZPR5.DE - Drawdown Comparison

The maximum JMBE.DE drawdown since its inception was -28.19%, which is greater than ZPR5.DE's maximum drawdown of -14.48%. Use the drawdown chart below to compare losses from any high point for JMBE.DE and ZPR5.DE.

Drawdown Indicators

	JMBE.DE	ZPR5.DE	Difference
Max Drawdown Largest peak-to-trough decline	-28.19%	-14.48%	-13.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.82%	-5.88%	+1.06%
Max Drawdown (5Y) Largest decline over 5 years	-27.72%	-9.92%	-17.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.48%	—
Current Drawdown Current decline from peak	-8.60%	-5.15%	-3.45%
Average Drawdown Average peak-to-trough decline	-10.49%	-4.88%	-5.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	2.29%	-1.14%

Volatility

JMBE.DE vs. ZPR5.DE - Volatility Comparison

JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - EUR Hedged (acc) (JMBE.DE) has a higher volatility of 2.70% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE) at 1.89%. This indicates that JMBE.DE's price experiences larger fluctuations and is considered to be riskier than ZPR5.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMBE.DE	ZPR5.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	1.89%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	3.89%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	6.20%	6.88%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.49%	7.08%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.71%	7.25%	+2.46%