JMRE.L vs. MKUW.L
JMRE.L (JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - JMRE.L tracks the MSCI EM NR USD while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, JMRE.L returned 6.79%/yr vs 7.68%/yr for MKUW.L. At a 0.13 correlation, their price movements are largely independent. JMRE.L charges 0.30%/yr vs 0.50%/yr for MKUW.L.
Performance
JMRE.L vs. MKUW.L - Performance Comparison
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Different Trading Currencies
JMRE.L is traded in GBp, while MKUW.L is traded in USD. To make them comparable, the MKUW.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, JMRE.L achieves a 18.86% return, which is significantly higher than MKUW.L's 0.30% return.
JMRE.L
- 1D
- -1.89%
- 1M
- -9.86%
- 6M
- 12.45%
- YTD
- 18.86%
- 1Y
- 35.28%
- 3Y*
- 18.41%
- 5Y*
- 6.79%
- 10Y*
- —
MKUW.L
- 1D
- 0.11%
- 1M
- -3.24%
- 6M
- 0.60%
- YTD
- 0.30%
- 1Y
- 3.15%
- 3Y*
- 6.77%
- 5Y*
- 7.68%
- 10Y*
- —
JMRE.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JMRE.L JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 18.86% | 25.64% | 8.21% | 2.02% | -12.02% | -1.26% | 16.34% | 5.22% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.30% | 16.42% | 11.06% | -13.43% | 18.60% | 29.79% | -12.53% | 6.74% |
Correlation
The correlation between JMRE.L and MKUW.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.13 |
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Return for Risk
JMRE.L vs. MKUW.L — Risk / Return Rank
JMRE.L
MKUW.L
JMRE.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JMRE.L) and Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.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.
| JMRE.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.05 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 0.36 | +2.48 |
| Martin ratioReturn relative to average drawdown | 9.34 | 0.94 | +8.41 |
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Drawdowns
JMRE.L vs. MKUW.L - Drawdown Comparison
The maximum JMRE.L drawdown since its inception was -31.64%, smaller than the maximum MKUW.L drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for JMRE.L and MKUW.L.
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Drawdown Indicators
| JMRE.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.64% | -33.94% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.37% | -8.77% | -3.60% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -9.57% | -5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -23.78% | -25.75% | +1.97% |
Current DrawdownCurrent decline from peak | -12.37% | -3.24% | -9.13% |
Average DrawdownAverage peak-to-trough decline | -14.29% | -10.63% | -3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.77% | 3.35% | +0.42% |
Volatility
JMRE.L vs. MKUW.L - Volatility Comparison
JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JMRE.L) has a higher volatility of 9.11% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 2.44%. This indicates that JMRE.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMRE.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.11% | 2.44% | +6.67% |
Volatility (6M)Calculated over the trailing 6-month period | 17.97% | 9.20% | +8.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.99% | 11.72% | +8.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 14.38% | +2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 17.70% | +2.28% |
JMRE.L vs. MKUW.L - Expense Ratio Comparison
JMRE.L has a 0.30% expense ratio, which is lower than MKUW.L's 0.50% expense ratio.
Dividends
JMRE.L vs. MKUW.L - Dividend Comparison
Neither JMRE.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
JMRE.L and MKUW.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMRE.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMRE.L is cheaper with a 0.30% expense ratio, compared with 0.50% for MKUW.L.
JMRE.L tracks MSCI EM NR USD, while MKUW.L tracks MSCI Kuwait 20/35 Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.30% for JMRE.L and 0.50% for MKUW.L.
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