JPBM.L vs. JGRE.L
JPBM.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) and JGRE.L (JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc)) are both exchange-traded funds - JPBM.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while JGRE.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, JPBM.L returned 3.70%/yr vs 13.30%/yr for JGRE.L. At a 0.45 correlation, their price movements are largely independent. JPBM.L charges 0.39%/yr vs 0.25%/yr for JGRE.L.
Performance
JPBM.L vs. JGRE.L - Performance Comparison
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Different Trading Currencies
JPBM.L is traded in GBP, while JGRE.L is traded in GBp. To make them comparable, the JGRE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPBM.L achieves a 2.24% return, which is significantly lower than JGRE.L's 9.61% return.
JPBM.L
- 1D
- 0.21%
- 1M
- 1.72%
- YTD
- 2.24%
- 6M
- 1.65%
- 1Y
- 13.68%
- 3Y*
- 6.20%
- 5Y*
- 3.70%
- 10Y*
- —
JGRE.L
- 1D
- 0.12%
- 1M
- 3.27%
- YTD
- 9.61%
- 6M
- 9.59%
- 1Y
- 26.20%
- 3Y*
- 17.09%
- 5Y*
- 13.30%
- 10Y*
- —
JPBM.L vs. JGRE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 2.24% | 6.76% | 4.67% | 4.36% | -5.01% | 0.35% | 3.05% | 16.46% | 3.46% |
JGRE.L JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) | 9.61% | 11.65% | 20.63% | 18.59% | -7.77% | 25.92% | 13.21% | 23.96% | -6.01% |
Correlation
The correlation between JPBM.L and JGRE.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.45 |
The correlation between JPBM.L and JGRE.L shifts across timeframes, from 0.39 (5 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPBM.L vs. JGRE.L — Risk / Return Rank
JPBM.L
JGRE.L
JPBM.L vs. JGRE.L - 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.L) and JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) (JGRE.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.
| JPBM.L | JGRE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.49 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.93 | -0.86 |
| Martin ratioReturn relative to average drawdown | 9.23 | 16.25 | -7.02 |
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.L | JGRE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 2.59 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 1.01 | -0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.92 | -0.46 |
Drawdowns
JPBM.L vs. JGRE.L - Drawdown Comparison
The maximum JPBM.L drawdown since its inception was -19.74%, smaller than the maximum JGRE.L drawdown of -25.31%. Use the drawdown chart below to compare losses from any high point for JPBM.L and JGRE.L.
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Drawdown Indicators
| JPBM.L | JGRE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -25.31% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -6.65% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -8.37% | -18.49% | +10.12% |
Max Drawdown (5Y)Largest decline over 5 years | -13.03% | -18.49% | +5.46% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -3.10% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.61% | -0.18% |
Volatility
JPBM.L vs. JGRE.L - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) is 1.62%, while JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) (JGRE.L) has a volatility of 2.48%. This indicates that JPBM.L experiences smaller price fluctuations and is considered to be less risky than JGRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPBM.L | JGRE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 2.48% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 7.20% | -2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.15% | 10.12% | -3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.67% | 13.16% | -4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 15.06% | -4.85% |
JPBM.L vs. JGRE.L - Expense Ratio Comparison
JPBM.L has a 0.39% expense ratio, which is higher than JGRE.L's 0.25% expense ratio.
Dividends
JPBM.L vs. JGRE.L - Dividend Comparison
JPBM.L's dividend yield for the trailing twelve months is around 6.86%, while JGRE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JGRE.L JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 6.86% | 7.14% | 6.80% | 6.27% | 6.59% | 5.57% | 5.57% | 5.84% | 5.28% |
Frequently Asked Questions
JPBM.L and JGRE.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGRE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGRE.L is cheaper with a 0.25% expense ratio, compared with 0.39% for JPBM.L.
JPBM.L is categorized as Emerging Markets Bonds, while JGRE.L is Global Equities. JPBM.L tracks JPM EMBI Global Diversified TR USD, while JGRE.L tracks MSCI ACWI NR USD. Their fees differ too: 0.39% for JPBM.L and 0.25% for JGRE.L.
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