JPBM.L vs. SBEM.L
JPBM.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) and SBEM.L (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from JPMorgan and UBS respectively. Both are passively managed. Over the past 5 years, JPBM.L returned 3.70%/yr vs 3.47%/yr for SBEM.L. Their correlation of 0.94 suggests significant overlap in exposure. JPBM.L charges 0.39%/yr vs 0.42%/yr for SBEM.L.
Performance
JPBM.L vs. SBEM.L - Performance Comparison
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Different Trading Currencies
JPBM.L is traded in GBP, while SBEM.L is traded in GBp. To make them comparable, the SBEM.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 SBEM.L's 2.48% 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*
- —
SBEM.L
- 1D
- 0.23%
- 1M
- 2.35%
- YTD
- 2.48%
- 6M
- 2.78%
- 1Y
- 14.55%
- 3Y*
- 8.68%
- 5Y*
- 3.47%
- 10Y*
- 4.55%
JPBM.L vs. SBEM.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% | 7.13% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 2.48% | 7.42% | 9.46% | 5.94% | -10.24% | -1.29% | 1.28% | 10.91% | 7.12% |
Correlation
The correlation between JPBM.L and SBEM.L is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2018 | 0.94 |
The correlation between JPBM.L and SBEM.L has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
JPBM.L vs. SBEM.L — Risk / Return Rank
JPBM.L
SBEM.L
JPBM.L vs. SBEM.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 UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.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 | SBEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 4.10 | -1.03 |
| Martin ratioReturn relative to average drawdown | 9.23 | 11.84 | -2.62 |
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 | SBEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 2.24 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.39 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.48 | -0.03 |
Drawdowns
JPBM.L vs. SBEM.L - Drawdown Comparison
The maximum JPBM.L drawdown since its inception was -19.74%, smaller than the maximum SBEM.L drawdown of -21.61%. Use the drawdown chart below to compare losses from any high point for JPBM.L and SBEM.L.
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Drawdown Indicators
| JPBM.L | SBEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.74% | -21.61% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -3.53% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -8.37% | -9.79% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -13.03% | -17.20% | +4.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.61% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -7.26% | +2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.23% | +0.20% |
Volatility
JPBM.L vs. SBEM.L - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) have volatilities of 1.62% and 1.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPBM.L | SBEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.66% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.58% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.15% | 6.47% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.67% | 8.85% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 10.88% | -0.67% |
JPBM.L vs. SBEM.L - Expense Ratio Comparison
JPBM.L has a 0.39% expense ratio, which is lower than SBEM.L's 0.42% expense ratio.
Dividends
JPBM.L vs. SBEM.L - Dividend Comparison
JPBM.L's dividend yield for the trailing twelve months is around 6.86%, more than SBEM.L's 6.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 6.53% | 7.69% | 6.28% | 6.49% | 5.72% | 4.35% | 4.92% | 4.83% | 4.47% | 4.84% | 2.27% |
Frequently Asked Questions
JPBM.L and SBEM.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPBM.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.L is cheaper with a 0.39% expense ratio, compared with 0.42% for SBEM.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: JPMorgan and UBS. Their fees differ too: 0.39% for JPBM.L and 0.42% for SBEM.L.
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