JPAS.L vs. TDGB.L
JPAS.L (JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc) and TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - JPAS.L is a Dividend fund actively managed by JPMorgan, while TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. JPAS.L is actively managed, while TDGB.L is passively managed. Over the past 5 years, JPAS.L returned 4.11%/yr vs 18.10%/yr for TDGB.L. At a 0.04 correlation, their price movements are largely independent. JPAS.L charges 0.18%/yr vs 0.38%/yr for TDGB.L.
Performance
JPAS.L vs. TDGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, JPAS.L achieves a 1.52% return, which is significantly lower than TDGB.L's 10.48% return.
JPAS.L
- 1D
- -0.62%
- 1M
- -0.14%
- 6M
- 1.35%
- YTD
- 1.52%
- 1Y
- 3.51%
- 3Y*
- 4.11%
- 5Y*
- 4.11%
- 10Y*
- —
TDGB.L
- 1D
- -0.57%
- 1M
- 0.93%
- 6M
- 9.00%
- YTD
- 10.48%
- 1Y
- 27.97%
- 3Y*
- 20.99%
- 5Y*
- 18.10%
- 10Y*
- 10.10%
JPAS.L vs. TDGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 1.52% | -2.07% | 7.27% | -0.71% | 13.13% | 1.38% | -1.17% | -22.44% |
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 10.48% | 30.90% | 10.66% | 9.04% | 22.49% | 19.59% | -5.61% | 4.93% |
Correlation
The correlation between JPAS.L and TDGB.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 | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2019 | 0.04 |
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Return for Risk
JPAS.L vs. TDGB.L — Risk / Return Rank
JPAS.L
TDGB.L
JPAS.L vs. TDGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.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.
| JPAS.L | TDGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.34 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.56 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 5.97 | -5.17 |
| Martin ratioReturn relative to average drawdown | 2.05 | 19.47 | -17.42 |
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Drawdowns
JPAS.L vs. TDGB.L - Drawdown Comparison
The maximum JPAS.L drawdown since its inception was -26.18%, smaller than the maximum TDGB.L drawdown of -32.94%. Use the drawdown chart below to compare losses from any high point for JPAS.L and TDGB.L.
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Drawdown Indicators
| JPAS.L | TDGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.18% | -32.94% | +6.76% |
Max Drawdown (1Y)Largest decline over 1 year | -4.36% | -4.66% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | -12.42% | +3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -12.42% | -2.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.94% | — |
Current DrawdownCurrent decline from peak | -6.97% | -0.57% | -6.40% |
Average DrawdownAverage peak-to-trough decline | -14.97% | -4.89% | -10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.43% | +0.28% |
Volatility
JPAS.L vs. TDGB.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc (JPAS.L) is 1.77%, while VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) has a volatility of 2.45%. This indicates that JPAS.L experiences smaller price fluctuations and is considered to be less risky than TDGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPAS.L | TDGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 2.45% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 7.23% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.37% | 9.33% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 11.44% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 13.67% | -1.43% |
JPAS.L vs. TDGB.L - Expense Ratio Comparison
JPAS.L has a 0.18% expense ratio, which is lower than TDGB.L's 0.38% expense ratio.
Dividends
JPAS.L vs. TDGB.L - Dividend Comparison
JPAS.L has not paid dividends to shareholders, while TDGB.L's dividend yield for the trailing twelve months is around 3.15%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JPAS.L JPMorgan ETFs (Ireland) ICAV - USD Ultra-Short Income Active ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.15% | 3.50% | 4.26% | 4.93% | 4.40% | 4.06% | 4.16% | 4.52% | 4.38% | 3.48% |
Frequently Asked Questions
JPAS.L and TDGB.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, JPAS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPAS.L is cheaper with a 0.18% expense ratio, compared with 0.38% for TDGB.L.
JPAS.L is categorized as Dividend, while TDGB.L is Global Equities. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.18% for JPAS.L and 0.38% for TDGB.L.
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