JPEA.L vs. XQUA.L

Last updated Jun 5, 2026

JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) and XQUA.L (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D) are both Emerging Markets Bonds funds - JPEA.L tracks the J.P. Morgan EMBI Global Core Index while XQUA.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, JPEA.L returned 1.96%/yr vs -0.11%/yr for XQUA.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

JPEA.L vs. XQUA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) and Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEA.L achieves a 1.83% return, which is significantly higher than XQUA.L's 0.94% 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*: —

XQUA.L

• 1D: 0.35%
• 1M: 0.59%
• YTD: 0.94%
• 6M: 0.97%
• 1Y: 8.08%
• 3Y*: 5.25%
• 5Y*: -0.11%
• 10Y*: 0.95%

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

JPEA.L vs. XQUA.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%
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D	0.94%	10.82%	-0.40%	7.51%	-17.76%	-1.45%	6.97%	10.02%	-6.59%	4.10%

Correlation

The correlation between JPEA.L and XQUA.L is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017	0.90

The correlation between JPEA.L and XQUA.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

JPEA.L vs. XQUA.L — Risk / Return Rank

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

JPEA.L

JPEA.L Risk / Return Rank: 63
JPEA.L Sharpe Ratio Rank: 61
JPEA.L Sortino Ratio Rank: 72
JPEA.L Omega Ratio Rank: 66
JPEA.L Calmar Ratio Rank: 53
JPEA.L Martin Ratio Rank: 62

XQUA.L

XQUA.L Risk / Return Rank: 49
XQUA.L Sharpe Ratio Rank: 51
XQUA.L Sortino Ratio Rank: 56
XQUA.L Omega Ratio Rank: 52
XQUA.L Calmar Ratio Rank: 42
XQUA.L Martin Ratio Rank: 45

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.

JPEA.L vs. XQUA.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.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	XQUA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.03	1.72	+0.31
Sortino ratio: Return per unit of downside risk	3.20	2.66	+0.54
Omega ratio: Gain probability vs. loss probability	1.39	1.32	+0.07
Calmar ratio: Return relative to maximum drawdown	2.57	2.00	+0.57
Martin ratio: Return relative to average drawdown	11.00	7.21	+3.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPEA.L vs. XQUA.L - Sharpe Ratio Comparison

The current JPEA.L Sharpe Ratio is 2.03, which is comparable to the XQUA.L Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of JPEA.L and XQUA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPEA.L	XQUA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	1.72	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	-0.01	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.11	+0.18

Drawdowns

JPEA.L vs. XQUA.L - Drawdown Comparison

The maximum JPEA.L drawdown since its inception was -28.64%, which is greater than XQUA.L's maximum drawdown of -26.27%. Use the drawdown chart below to compare losses from any high point for JPEA.L and XQUA.L.

Drawdown Indicators

	JPEA.L	XQUA.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.64%	-26.27%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.42%	-4.02%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-7.35%	-8.21%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-28.64%	-26.26%	-2.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.27%	—
Current Drawdown Current decline from peak	-0.06%	-2.91%	+2.85%
Average Drawdown Average peak-to-trough decline	-6.80%	-7.73%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.12%	-0.08%

Volatility

JPEA.L vs. XQUA.L - Volatility Comparison

iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) has a higher volatility of 1.91% compared to Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L) at 1.74%. This indicates that JPEA.L's price experiences larger fluctuations and is considered to be riskier than XQUA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEA.L	XQUA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	1.74%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	4.55%	3.72%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	5.63%	4.71%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.88%	8.01%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.21%	8.65%	+1.56%

JPEA.L vs. XQUA.L - Expense Ratio Comparison

Both JPEA.L and XQUA.L have an expense ratio of 0.45%.

Dividends

JPEA.L vs. XQUA.L - Dividend Comparison

JPEA.L has not paid dividends to shareholders, while XQUA.L's dividend yield for the trailing twelve months is around 4.61%.

Position	TTM	2025	2024	2023	2022	2021	2020
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%
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D	4.61%	4.49%	4.61%	4.24%	6.92%	4.08%	4.54%

Frequently Asked Questions

Can I hold both JPEA.L and XQUA.L in my portfolio?

With a correlation of 0.91, JPEA.L and XQUA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, JPEA.L or XQUA.L?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPEA.L or XQUA.L?

JPEA.L and XQUA.L have the same expense ratio: 0.45% per year.

What is the main difference between JPEA.L and XQUA.L?

JPEA.L tracks J.P. Morgan EMBI Global Core Index, while XQUA.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Xtrackers.