JPBM.DE vs. UEFE.DE
JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) and UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - JPBM.DE tracks the JPM EMBI Global Diversified TR USD while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, JPBM.DE returned 1.97%/yr vs 4.93%/yr for UEFE.DE. A 0.53 correlation means they provide meaningful diversification when combined. JPBM.DE charges 0.39%/yr vs 0.40%/yr for UEFE.DE.
Performance
JPBM.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JPBM.DE achieves a 2.71% return, which is significantly higher than UEFE.DE's 2.04% return.
JPBM.DE
- 1D
- 0.15%
- 1M
- 1.60%
- YTD
- 2.71%
- 6M
- 1.92%
- 1Y
- 8.68%
- 3Y*
- 4.41%
- 5Y*
- 1.97%
- 10Y*
- —
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.09%
- YTD
- 2.04%
- 6M
- 2.04%
- 1Y
- 7.90%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
JPBM.DE vs. UEFE.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) | 2.71% | 0.17% | 7.28% | 5.27% | -10.98% | 4.83% | -4.56% | 20.72% | 2.42% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 2.04% | 5.88% | 6.93% | 15.75% | -6.22% | 2.54% | -2.71% | 21.27% | 7.49% |
Correlation
The correlation between JPBM.DE and UEFE.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.53 |
The correlation between JPBM.DE and UEFE.DE has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
JPBM.DE vs. UEFE.DE — Risk / Return Rank
JPBM.DE
UEFE.DE
JPBM.DE vs. UEFE.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 UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.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.
| JPBM.DE | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 2.06 | +0.61 |
| Martin ratioReturn relative to average drawdown | 7.31 | 7.08 | +0.23 |
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
| JPBM.DE | UEFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.48 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.58 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.66 | -0.36 |
Drawdowns
JPBM.DE vs. UEFE.DE - Drawdown Comparison
The maximum JPBM.DE drawdown since its inception was -25.97%, which is greater than UEFE.DE's maximum drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for JPBM.DE and UEFE.DE.
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Drawdown Indicators
| JPBM.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.97% | -23.72% | -2.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -3.93% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -12.56% | -8.02% | -4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -12.46% | -1.85% |
Current DrawdownCurrent decline from peak | -2.60% | -1.03% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -4.41% | -3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.14% | 0.00% |
Volatility
JPBM.DE vs. UEFE.DE - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) is 1.12%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) has a volatility of 1.93%. This indicates that JPBM.DE experiences smaller price fluctuations and is considered to be less risky than UEFE.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 | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.93% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.98% | 4.64% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.46% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 8.44% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.71% | 9.82% | -0.11% |
JPBM.DE vs. UEFE.DE - Expense Ratio Comparison
JPBM.DE has a 0.39% expense ratio, which is lower than UEFE.DE's 0.40% expense ratio.
Dividends
JPBM.DE vs. UEFE.DE - Dividend Comparison
JPBM.DE's dividend yield for the trailing twelve months is around 5.09%, more than UEFE.DE's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.09% | 5.54% | 5.26% | 5.00% | 5.33% | 3.35% | 3.87% | 3.92% | 2.69% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% | 0.00% |
Frequently Asked Questions
JPBM.DE and UEFE.DE have a correlation of 0.56, 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 UEFE.DE.
JPBM.DE tracks JPM EMBI Global Diversified TR USD, while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: JPMorgan and UBS. Their fees differ too: 0.39% for JPBM.DE and 0.40% for UEFE.DE.
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