JPEA.L vs. FSEM.L
JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) and FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) are both Emerging Markets Bonds funds. JPEA.L is passively managed, while FSEM.L is actively managed. Over the past 5 years, JPEA.L returned 1.96%/yr vs 1.53%/yr for FSEM.L. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
JPEA.L vs. FSEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, JPEA.L achieves a 1.83% return, which is significantly lower than FSEM.L's 2.90% 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*
- —
FSEM.L
- 1D
- 0.09%
- 1M
- 0.89%
- YTD
- 2.90%
- 6M
- 3.45%
- 1Y
- 12.53%
- 3Y*
- 8.81%
- 5Y*
- 1.53%
- 10Y*
- —
JPEA.L vs. FSEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 1.83% | 13.77% | 5.72% | 10.89% | -18.56% | 3.43% |
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 2.90% | 13.32% | 3.51% | 8.82% | -17.90% | 2.49% |
Correlation
The correlation between JPEA.L and FSEM.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.73 |
The correlation between JPEA.L and FSEM.L has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
JPEA.L vs. FSEM.L — Risk / Return Rank
JPEA.L
FSEM.L
JPEA.L vs. FSEM.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 Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.46 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.11 | -0.53 |
| Martin ratioReturn relative to average drawdown | 11.00 | 11.25 | -0.26 |
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 | FSEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.03 | 1.96 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.18 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.23 | +0.06 |
Drawdowns
JPEA.L vs. FSEM.L - Drawdown Comparison
The maximum JPEA.L drawdown since its inception was -28.64%, roughly equal to the maximum FSEM.L drawdown of -28.00%. Use the drawdown chart below to compare losses from any high point for JPEA.L and FSEM.L.
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Drawdown Indicators
| JPEA.L | FSEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.64% | -28.00% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -4.42% | -4.02% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -7.35% | -7.09% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -28.64% | -28.00% | -0.64% |
Current DrawdownCurrent decline from peak | -0.06% | -1.00% | +0.94% |
Average DrawdownAverage peak-to-trough decline | -6.80% | -10.21% | +3.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.11% | -0.07% |
Volatility
JPEA.L vs. FSEM.L - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) is 1.91%, while Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a volatility of 2.72%. This indicates that JPEA.L experiences smaller price fluctuations and is considered to be less risky than FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 2.72% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 5.22% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.63% | 6.39% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.88% | 8.58% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.21% | 8.47% | +1.74% |
JPEA.L vs. FSEM.L - Expense Ratio Comparison
Both JPEA.L and FSEM.L have an expense ratio of 0.45%.
Dividends
JPEA.L vs. FSEM.L - Dividend Comparison
JPEA.L has not paid dividends to shareholders, while FSEM.L's dividend yield for the trailing twelve months is around 7.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JPEA.L and FSEM.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JPEA.L and FSEM.L have the same expense ratio: 0.45% per year.
They also come from different issuers: iShares and Fidelity.
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