JPBM.L vs. JREG.L

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) and JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) (JREG.L).

JPBM.L and JREG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JPBM.L is a passively managed fund by JPMorgan that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Feb 15, 2018. JREG.L is a passively managed fund by JPMorgan that tracks the performance of the MSCI ACWI NR USD. It was launched on Oct 10, 2018. Both JPBM.L and JREG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

JPBM.L vs. JREG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) and JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) (JREG.L). The values are adjusted to include any dividend payments, if applicable.

JPBM.L vs. JREG.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)	-0.23%	6.76%	4.67%	4.36%	-5.01%	0.35%	3.05%	16.46%	3.46%
JREG.L JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc)	-0.45%	11.22%	20.75%	19.41%	-7.92%	25.50%	13.77%	23.08%	-6.00%

Different Trading Currencies

JPBM.L is traded in GBP, while JREG.L is traded in USD. To make them comparable, the JREG.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 -0.23% return, which is significantly higher than JREG.L's -0.45% return.

JPBM.L

• 1D: 0.10%
• 1M: -1.74%
• YTD: -0.23%
• 6M: 1.97%
• 1Y: 6.28%
• 3Y*: 5.19%
• 5Y*: 3.35%
• 10Y*: —

JREG.L

• 1D: 2.60%
• 1M: -2.64%
• YTD: -0.45%
• 6M: 3.48%
• 1Y: 16.79%
• 3Y*: 14.72%
• 5Y*: 11.82%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JPBM.L vs. JREG.L - Expense Ratio Comparison

JPBM.L has a 0.39% expense ratio, which is higher than JREG.L's 0.25% expense ratio.

JPBM.L

JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)

JREG.L

JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc)

Return for Risk

JPBM.L vs. JREG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPBM.L

JPBM.L Risk / Return Rank: 41
JPBM.L Sharpe Ratio Rank: 41
JPBM.L Sortino Ratio Rank: 37
JPBM.L Omega Ratio Rank: 35
JPBM.L Calmar Ratio Rank: 54
JPBM.L Martin Ratio Rank: 36

JREG.L

JREG.L Risk / Return Rank: 73
JREG.L Sharpe Ratio Rank: 69
JREG.L Sortino Ratio Rank: 69
JREG.L Omega Ratio Rank: 68
JREG.L Calmar Ratio Rank: 78
JREG.L Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPBM.L vs. JREG.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) (JREG.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	JREG.L	Difference
Sharpe ratio Return per unit of total volatility	0.83	1.13	-0.30
Sortino ratio Return per unit of downside risk	1.14	1.59	-0.45
Omega ratio Gain probability vs. loss probability	1.15	1.23	-0.08
Calmar ratio Return relative to maximum drawdown	1.56	2.61	-1.05
Martin ratio Return relative to average drawdown	3.81	9.50	-5.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPBM.L vs. JREG.L - Sharpe Ratio Comparison

The current JPBM.L Sharpe Ratio is 0.83, which is comparable to the JREG.L Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of JPBM.L and JREG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JPBM.L	JREG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	1.13	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.82	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.78	-0.35

Correlation

The correlation between JPBM.L and JREG.L is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JPBM.L vs. JREG.L - Dividend Comparison

JPBM.L's dividend yield for the trailing twelve months is around 6.98%, while JREG.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)	6.98%	7.14%	6.80%	6.27%	6.59%	5.57%	5.57%	5.84%	5.28%
JREG.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%

Drawdowns

JPBM.L vs. JREG.L - Drawdown Comparison

The maximum JPBM.L drawdown since its inception was -19.74%, smaller than the maximum JREG.L drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for JPBM.L and JREG.L.

Drawdown Indicators

	JPBM.L	JREG.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-33.82%	+14.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.21%	-11.54%	+6.33%
Max Drawdown (5Y) Largest decline over 5 years	-13.03%	-25.33%	+12.30%
Current Drawdown Current decline from peak	-2.11%	-5.25%	+3.14%
Average Drawdown Average peak-to-trough decline	-4.76%	-4.92%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	2.11%	-0.36%

Volatility

JPBM.L vs. JREG.L - Volatility Comparison

The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) is 2.57%, while JPMorgan Global Research Enhanced Index Equity UCITS ETF - USD (acc) (JREG.L) has a volatility of 5.48%. This indicates that JPBM.L experiences smaller price fluctuations and is considered to be less risky than JREG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPBM.L	JREG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	5.48%	-2.91%
Volatility (6M) Calculated over the trailing 6-month period	4.70%	8.96%	-4.26%
Volatility (1Y) Calculated over the trailing 1-year period	7.57%	14.83%	-7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.73%	14.35%	-5.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.29%	16.25%	-5.96%