JPEA.L vs. EMBE.L
JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) and EMBE.L (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) are both Emerging Markets Bonds funds from iShares - JPEA.L tracks the J.P. Morgan EMBI Global Core Index while EMBE.L tracks the JPM EMBI Global Diversified Hedge TR EUR. Both are passively managed. Over the past 5 years, JPEA.L returned 1.96%/yr vs -1.25%/yr for EMBE.L. A 0.73 correlation means they provide meaningful diversification when combined. JPEA.L charges 0.45%/yr vs 0.50%/yr for EMBE.L.
Performance
JPEA.L vs. EMBE.L - Performance Comparison
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Different Trading Currencies
JPEA.L is traded in USD, while EMBE.L is traded in EUR. To make them comparable, the EMBE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPEA.L achieves a 1.83% return, which is significantly higher than EMBE.L's -0.14% return.
JPEA.L
- 1D
- 0.26%
- 1M
- 1.07%
- YTD
- 1.83%
- 6M
- 2.37%
- 1Y
- 11.43%
- 3Y*
- 9.82%
- 5Y*
- 1.96%
- 10Y*
- —
EMBE.L
- 1D
- 0.36%
- 1M
- 0.12%
- YTD
- -0.14%
- 6M
- 0.93%
- 1Y
- 10.65%
- 3Y*
- 10.44%
- 5Y*
- -1.25%
- 10Y*
- 1.21%
JPEA.L vs. EMBE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 1.83% | 13.77% | 5.72% | 10.89% | -18.56% | -2.19% | 5.37% | 15.91% | -5.52% | 5.06% |
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | -0.14% | 25.90% | -2.43% | 11.05% | -25.61% | -9.87% | 12.50% | 10.09% | -12.68% | 17.09% |
Correlation
The correlation between JPEA.L and EMBE.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.73 |
The correlation between JPEA.L and EMBE.L has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.
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Return for Risk
JPEA.L vs. EMBE.L — Risk / Return Rank
JPEA.L
EMBE.L
JPEA.L vs. EMBE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.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.
| JPEA.L | EMBE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.20 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 1.32 | +1.25 |
| Martin ratioReturn relative to average drawdown | 11.00 | 4.37 | +6.63 |
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
| JPEA.L | EMBE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 1.09 | +0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | -0.09 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.08 | +0.22 |
Drawdowns
JPEA.L vs. EMBE.L - Drawdown Comparison
The maximum JPEA.L drawdown since its inception was -28.64%, smaller than the maximum EMBE.L drawdown of -44.54%. Use the drawdown chart below to compare losses from any high point for JPEA.L and EMBE.L.
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Drawdown Indicators
| JPEA.L | EMBE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.64% | -44.54% | +15.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.42% | -8.00% | +3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.35% | -13.39% | +6.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.64% | -43.18% | +14.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.54% | — |
Current DrawdownCurrent decline from peak | -0.06% | -9.05% | +8.99% |
Average DrawdownAverage peak-to-trough decline | -6.80% | -15.04% | +8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.43% | -1.39% |
Volatility
JPEA.L vs. EMBE.L - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) is 1.91%, while iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) has a volatility of 3.01%. This indicates that JPEA.L experiences smaller price fluctuations and is considered to be less risky than EMBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPEA.L | EMBE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 3.01% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 7.34% | -2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.63% | 9.79% | -4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.88% | 13.66% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 13.35% | -3.14% |
JPEA.L vs. EMBE.L - Expense Ratio Comparison
JPEA.L has a 0.45% expense ratio, which is lower than EMBE.L's 0.50% expense ratio.
Dividends
JPEA.L vs. EMBE.L - Dividend Comparison
JPEA.L has not paid dividends to shareholders, while EMBE.L's dividend yield for the trailing twelve months is around 5.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 5.63% | 5.44% | 5.64% | 5.50% | 5.39% | 3.92% | 3.85% | 4.77% | 5.75% | 3.88% | 5.36% | 4.72% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JPEA.L and EMBE.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPEA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPEA.L is cheaper with a 0.45% expense ratio, compared with 0.50% for EMBE.L.
JPEA.L tracks J.P. Morgan EMBI Global Core Index, while EMBE.L tracks JPM EMBI Global Diversified Hedge TR EUR. Their fees differ too: 0.45% for JPEA.L and 0.50% for EMBE.L.
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