JPBM.DE vs. HY3M.DE
JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - JPBM.DE tracks the JPM EMBI Global Diversified TR USD 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, JPBM.DE returned 1.94%/yr vs 3.37%/yr for HY3M.DE. At a 0.47 correlation, their price movements are largely independent. JPBM.DE charges 0.39%/yr vs 0.40%/yr for HY3M.DE.
Performance
JPBM.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JPBM.DE achieves a 4.40% return, which is significantly lower than HY3M.DE's 6.33% return.
JPBM.DE
- 1D
- -0.08%
- 1M
- 0.64%
- 6M
- 3.84%
- YTD
- 4.40%
- 1Y
- 11.06%
- 3Y*
- 6.59%
- 5Y*
- 1.94%
- 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*
- —
JPBM.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 4.40% | 0.87% | 7.74% | 5.71% | -10.77% | 5.50% | -4.06% | 21.24% | 5.16% |
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% | -14.66% |
Correlation
The correlation between JPBM.DE and HY3M.DE is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.47 |
The correlation between JPBM.DE and HY3M.DE has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.
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Return for Risk
JPBM.DE vs. HY3M.DE — Risk / Return Rank
JPBM.DE
HY3M.DE
JPBM.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 - USD (Dist) (JPBM.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.
| JPBM.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.28 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.41 | +0.18 |
| Martin ratioReturn relative to average drawdown | 10.32 | 10.01 | +0.32 |
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Drawdowns
JPBM.DE vs. HY3M.DE - Drawdown Comparison
The maximum JPBM.DE drawdown since its inception was -25.94%, 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 JPBM.DE and HY3M.DE.
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Drawdown Indicators
| JPBM.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.94% | -21.08% | -4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.07% | -3.08% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.49% | -12.09% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -14.10% | -13.58% | -0.52% |
Current DrawdownCurrent decline from peak | -1.44% | -1.17% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -7.04% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 1.05% | +0.02% |
Volatility
JPBM.DE vs. HY3M.DE - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) is 1.67%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.97%. This indicates that JPBM.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
| JPBM.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.97% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 5.14% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.91% | 6.85% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 8.61% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.85% | 13.20% | +1.65% |
JPBM.DE vs. HY3M.DE - Expense Ratio Comparison
JPBM.DE has a 0.39% expense ratio, which is lower than HY3M.DE's 0.40% expense ratio.
Dividends
JPBM.DE vs. HY3M.DE - Dividend Comparison
JPBM.DE's dividend yield for the trailing twelve months is around 5.80%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.80% | 6.24% | 5.67% | 5.42% | 5.58% | 3.96% | 4.40% | 4.40% | 4.04% |
Frequently Asked Questions
JPBM.DE and HY3M.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPBM.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.DE is cheaper with a 0.39% expense ratio, compared with 0.40% for HY3M.DE.
JPBM.DE tracks JPM EMBI Global Diversified TR USD, 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 JPBM.DE and 0.40% for HY3M.DE.
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