JPBM.L vs. JMAB.L
JPBM.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) and JMAB.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF) are both Emerging Markets Bonds funds from JPMorgan tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, JPBM.L returned 2.58%/yr vs 2.60%/yr for JMAB.L. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.
Performance
JPBM.L vs. JMAB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPBM.L having a 4.06% return and JMAB.L slightly higher at 4.08%.
JPBM.L
- 1D
- -0.33%
- 1M
- 3.40%
- YTD
- 4.06%
- 6M
- 4.60%
- 1Y
- 14.03%
- 3Y*
- 6.39%
- 5Y*
- 2.58%
- 10Y*
- —
JMAB.L
- 1D
- -0.29%
- 1M
- 3.38%
- YTD
- 4.08%
- 6M
- 4.62%
- 1Y
- 14.01%
- 3Y*
- 6.51%
- 5Y*
- 2.60%
- 10Y*
- —
JPBM.L vs. JMAB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 4.06% | 5.64% | 3.59% | 3.47% | -6.16% | -1.16% | 1.79% | 1.31% |
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 4.08% | 5.64% | 3.61% | 3.51% | -6.11% | -1.18% | 1.75% | -21.71% |
Correlation
The correlation between JPBM.L and JMAB.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.95 |
The correlation between JPBM.L and JMAB.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
JPBM.L vs. JMAB.L — Risk / Return Rank
JPBM.L
JMAB.L
JPBM.L vs. JMAB.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 USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.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.
| JPBM.L | JMAB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 3.19 | -0.05 |
| Martin ratioReturn relative to average drawdown | 8.92 | 8.96 | -0.05 |
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Drawdowns
JPBM.L vs. JMAB.L - Drawdown Comparison
The maximum JPBM.L drawdown since its inception was -30.26%, roughly equal to the maximum JMAB.L drawdown of -31.26%. Use the drawdown chart below to compare losses from any high point for JPBM.L and JMAB.L.
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Drawdown Indicators
| JPBM.L | JMAB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.26% | -31.26% | +1.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.45% | -4.38% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.64% | -8.77% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -13.66% | -22.71% | +9.05% |
Current DrawdownCurrent decline from peak | -2.74% | -13.53% | +10.79% |
Average DrawdownAverage peak-to-trough decline | -15.39% | -23.39% | +8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 1.56% | +0.01% |
Volatility
JPBM.L vs. JMAB.L - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) is 1.55%, while JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.L) has a volatility of 1.67%. This indicates that JPBM.L experiences smaller price fluctuations and is considered to be less risky than JMAB.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 | JMAB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.67% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 4.49% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.17% | 5.99% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.64% | 17.73% | -9.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.00% | 18.99% | -4.99% |
JPBM.L vs. JMAB.L - Expense Ratio Comparison
Both JPBM.L and JMAB.L have an expense ratio of 0.39%.
Dividends
JPBM.L vs. JMAB.L - Dividend Comparison
JPBM.L's dividend yield for the trailing twelve months is around 5.69%, while JMAB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 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) | 5.69% | 6.11% | 5.75% | 5.44% | 5.36% | 4.05% | 4.34% | 4.56% | 3.99% |
Frequently Asked Questions
With a correlation of 0.97, JPBM.L and JMAB.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.L and JMAB.L have the same expense ratio: 0.39% per year.
Both ETFs track JPM EMBI Global Diversified TR USD.
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