JPBM.L vs. VDEA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L).

JPBM.L and VDEA.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. VDEA.L is a passively managed fund by Vanguard that tracks the performance of the Bloomberg EM USD Sovereign + Quasi-Sov Index. It was launched on Feb 19, 2019. Both JPBM.L and VDEA.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. VDEA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L). The values are adjusted to include any dividend payments, if applicable.

JPBM.L vs. VDEA.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)	-0.23%	6.76%	4.67%	4.36%	-5.01%	0.35%	3.05%	13.30%
VDEA.L Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation	0.45%	3.51%	8.21%	3.90%	-4.90%	-0.81%	2.99%	7.57%

Different Trading Currencies

JPBM.L is traded in GBP, while VDEA.L is traded in USD. To make them comparable, the VDEA.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 lower than VDEA.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*: —

VDEA.L

• 1D: 0.55%
• 1M: -1.24%
• YTD: 0.45%
• 6M: 3.44%
• 1Y: 4.98%
• 3Y*: 5.30%
• 5Y*: 3.10%
• 10Y*: —

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

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

JPBM.L has a 0.39% expense ratio, which is higher than VDEA.L's 0.23% expense ratio.

JPBM.L

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

VDEA.L

Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation

Return for Risk

JPBM.L vs. VDEA.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

VDEA.L

VDEA.L Risk / Return Rank: 71
VDEA.L Sharpe Ratio Rank: 73
VDEA.L Sortino Ratio Rank: 73
VDEA.L Omega Ratio Rank: 67
VDEA.L Calmar Ratio Rank: 71
VDEA.L Martin Ratio Rank: 71

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. VDEA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.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	VDEA.L	Difference
Sharpe ratio Return per unit of total volatility	0.83	0.65	+0.17
Sortino ratio Return per unit of downside risk	1.14	0.95	+0.19
Omega ratio Gain probability vs. loss probability	1.15	1.11	+0.04
Calmar ratio Return relative to maximum drawdown	1.56	1.17	+0.39
Martin ratio Return relative to average drawdown	3.81	2.79	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current JPBM.L Sharpe Ratio is 0.83, which is comparable to the VDEA.L Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of JPBM.L and VDEA.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	VDEA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.65	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.36	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.30	+0.13

Correlation

The correlation between JPBM.L and VDEA.L is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JPBM.L vs. VDEA.L - Dividend Comparison

JPBM.L's dividend yield for the trailing twelve months is around 6.98%, while VDEA.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%
VDEA.L Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JPBM.L vs. VDEA.L - Drawdown Comparison

The maximum JPBM.L drawdown since its inception was -19.74%, which is greater than VDEA.L's maximum drawdown of -15.13%. Use the drawdown chart below to compare losses from any high point for JPBM.L and VDEA.L.

Drawdown Indicators

	JPBM.L	VDEA.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-24.08%	+4.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.21%	-3.88%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-13.03%	-24.08%	+11.05%
Current Drawdown Current decline from peak	-2.11%	-2.79%	+0.68%
Average Drawdown Average peak-to-trough decline	-4.76%	-6.20%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	0.92%	+0.83%

Volatility

JPBM.L vs. VDEA.L - Volatility Comparison

The current volatility for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) is 2.57%, while Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L) has a volatility of 2.87%. This indicates that JPBM.L experiences smaller price fluctuations and is considered to be less risky than VDEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPBM.L	VDEA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	2.87%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	4.70%	5.22%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	7.57%	7.63%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.73%	8.73%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.29%	9.95%	+0.34%