JPEE.L vs. EMCA.L
JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds from iShares - JPEE.L tracks the JPM EMBI Global Diversified TR USD while EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, JPEE.L returned 2.46%/yr vs 2.52%/yr for EMCA.L. A 0.59 correlation means they provide meaningful diversification when combined. JPEE.L charges 0.45%/yr vs 0.50%/yr for EMCA.L.
Performance
JPEE.L vs. EMCA.L - Performance Comparison
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Different Trading Currencies
JPEE.L is traded in EUR, while EMCA.L is traded in USD. To make them comparable, the EMCA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPEE.L achieves a 4.78% return, which is significantly higher than EMCA.L's 4.08% return.
JPEE.L
- 1D
- 0.00%
- 1M
- 0.92%
- 6M
- 4.20%
- YTD
- 4.78%
- 1Y
- 11.83%
- 3Y*
- 8.16%
- 5Y*
- 2.46%
- 10Y*
- —
EMCA.L
- 1D
- 0.00%
- 1M
- 0.74%
- 6M
- 2.88%
- YTD
- 4.08%
- 1Y
- 7.27%
- 3Y*
- 6.27%
- 5Y*
- 2.52%
- 10Y*
- —
JPEE.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 4.78% | 0.68% | 12.62% | 6.56% | -13.43% | 5.84% | -3.49% | 18.14% | 0.64% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 4.08% | -4.28% | 13.22% | 4.72% | -6.64% | 6.93% | -1.78% | 16.34% | 2.88% |
Correlation
The correlation between JPEE.L and EMCA.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.59 |
The correlation between JPEE.L and EMCA.L has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.
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Return for Risk
JPEE.L vs. EMCA.L — Risk / Return Rank
JPEE.L
EMCA.L
JPEE.L vs. EMCA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JPEE.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.20 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | 2.02 | +1.84 |
| Martin ratioReturn relative to average drawdown | 11.28 | 6.45 | +4.84 |
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Drawdowns
JPEE.L vs. EMCA.L - Drawdown Comparison
The maximum JPEE.L drawdown since its inception was -25.89%, which is greater than EMCA.L's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for JPEE.L and EMCA.L.
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Drawdown Indicators
| JPEE.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.89% | -23.56% | -2.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.68% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -11.17% | -1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -11.17% | -4.70% |
Current DrawdownCurrent decline from peak | -1.06% | -2.53% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -4.24% | -5.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.15% | -0.10% |
Volatility
JPEE.L vs. EMCA.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) is 1.52%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) has a volatility of 1.70%. This indicates that JPEE.L experiences smaller price fluctuations and is considered to be less risky than EMCA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPEE.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.70% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 5.11% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.99% | 6.65% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.53% | 7.78% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.86% | 10.40% | +0.46% |
JPEE.L vs. EMCA.L - Expense Ratio Comparison
JPEE.L has a 0.45% expense ratio, which is lower than EMCA.L's 0.50% expense ratio.
Dividends
JPEE.L vs. EMCA.L - Dividend Comparison
Neither JPEE.L nor EMCA.L has paid dividends to shareholders.
Frequently Asked Questions
JPEE.L and EMCA.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPEE.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPEE.L is cheaper with a 0.45% expense ratio, compared with 0.50% for EMCA.L.
JPEE.L tracks JPM EMBI Global Diversified TR USD, while EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. Their fees differ too: 0.45% for JPEE.L and 0.50% for EMCA.L.
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