JPEM vs. EMCS

Last updated Jun 5, 2026

JPEM (J.P. Morgan Diversified Return Emerging Markets Equity ETF) and EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) are both Emerging Markets Equities funds - JPEM tracks the JPMorgan Diversified Factor Emerging Markets Equity Index while EMCS tracks the MSCI Emerging Markets Climate Select Index. Both are passively managed. Over the past 5 years, JPEM returned 6.05%/yr vs 7.75%/yr for EMCS. Their correlation of 0.85 suggests significant overlap in exposure. JPEM charges 0.44%/yr vs 0.15%/yr for EMCS.

Performance

JPEM vs. EMCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) and Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEM achieves a 7.27% return, which is significantly lower than EMCS's 32.56% return.

JPEM

• 1D: 0.07%
• 1M: -0.46%
• YTD: 7.27%
• 6M: 8.61%
• 1Y: 22.05%
• 3Y*: 13.62%
• 5Y*: 6.05%
• 10Y*: 7.80%

EMCS

• 1D: -0.94%
• 1M: 9.45%
• YTD: 32.56%
• 6M: 36.46%
• 1Y: 60.33%
• 3Y*: 27.24%
• 5Y*: 7.75%
• 10Y*: —

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

JPEM vs. EMCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	7.27%	22.90%	4.23%	11.01%	-9.03%	8.11%	-0.46%	16.21%	-1.39%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	32.56%	38.71%	10.12%	5.68%	-23.58%	-2.02%	19.72%	19.54%	-0.59%

Correlation

The correlation between JPEM and EMCS is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.85

The correlation between JPEM and EMCS has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

JPEM vs. EMCS - Sectors Allocation Comparison

Sectors	JPEM	EMCS
Financial Services	19.1%	29.4%
Industrials	13.1%	2.5%
Basic Materials	11.3%	2.6%
Consumer Cyclical	10.0%	9.1%
Utilities	9.2%	0.8%
Consumer Defensive	8.6%	0.0%
Communication Services	8.4%	8.4%
Energy	7.5%	1.6%
Technology	6.7%	44.5%
Healthcare	4.3%	0.0%
Real Estate	1.8%	1.0%

Return for Risk

JPEM vs. EMCS — Risk / Return Rank

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

JPEM

JPEM Risk / Return Rank: 49
JPEM Sharpe Ratio Rank: 50
JPEM Sortino Ratio Rank: 49
JPEM Omega Ratio Rank: 52
JPEM Calmar Ratio Rank: 44
JPEM Martin Ratio Rank: 48

EMCS

EMCS Risk / Return Rank: 82
EMCS Sharpe Ratio Rank: 84
EMCS Sortino Ratio Rank: 80
EMCS Omega Ratio Rank: 83
EMCS Calmar Ratio Rank: 82
EMCS Martin Ratio Rank: 82

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.

JPEM vs. EMCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) and Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS). 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.

	JPEM	EMCS	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.71	-1.00
Sortino ratio: Return per unit of downside risk	2.38	3.52	-1.14
Omega ratio: Gain probability vs. loss probability	1.32	1.49	-0.17
Calmar ratio: Return relative to maximum drawdown	2.14	4.23	-2.09
Martin ratio: Return relative to average drawdown	8.02	16.37	-8.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPEM vs. EMCS - Sharpe Ratio Comparison

The current JPEM Sharpe Ratio is 1.71, which is lower than the EMCS Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of JPEM and EMCS, 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

	JPEM	EMCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.71	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.38	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.54	-0.21

Drawdowns

JPEM vs. EMCS - Drawdown Comparison

The maximum JPEM drawdown since its inception was -40.22%, smaller than the maximum EMCS drawdown of -44.86%. Use the drawdown chart below to compare losses from any high point for JPEM and EMCS.

Drawdown Indicators

	JPEM	EMCS	Difference
Max Drawdown Largest peak-to-trough decline	-40.22%	-44.86%	+4.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-14.32%	+4.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-16.73%	+2.43%
Max Drawdown (5Y) Largest decline over 5 years	-21.57%	-42.06%	+20.49%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	—	—
Current Drawdown Current decline from peak	-3.01%	-2.13%	-0.88%
Average Drawdown Average peak-to-trough decline	-9.47%	-16.60%	+7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	3.70%	-0.94%

Volatility

JPEM vs. EMCS - Volatility Comparison

The current volatility for J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) is 4.38%, while Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a volatility of 9.79%. This indicates that JPEM experiences smaller price fluctuations and is considered to be less risky than EMCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEM	EMCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	9.79%	-5.41%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	19.45%	-8.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	22.39%	-9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	20.62%	-7.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	21.65%	-4.61%

JPEM vs. EMCS - Expense Ratio Comparison

JPEM has a 0.44% expense ratio, which is higher than EMCS's 0.15% expense ratio.

Dividends

JPEM vs. EMCS - Dividend Comparison

JPEM's dividend yield for the trailing twelve months is around 4.40%, more than EMCS's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	1.25%	1.66%	0.67%	3.07%	2.26%	1.46%	1.40%	3.56%	0.00%	0.00%	0.00%	0.00%
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	4.40%	4.65%	5.12%	4.46%	4.71%	4.40%	2.85%	3.47%	2.79%	2.14%	1.28%	3.22%

Frequently Asked Questions

Can I hold both JPEM and EMCS in my portfolio?

JPEM and EMCS have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPEM or EMCS?

EMCS has higher volatility (9.79%) compared to JPEM (4.38%). In terms of maximum drawdown, JPEM dropped -40.22% vs EMCS's -44.86%.

Which ETF is better, JPEM or EMCS?

On 5-year performance, EMCS leads with 7.75% vs 6.05% for JPEM. On fees, EMCS is cheaper at 0.15% per year. On volatility, JPEM has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEM or EMCS?

Over the 5-year period, EMCS has performed better with a 7.75% return vs 6.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEM or EMCS?

EMCS is cheaper with a 0.15% expense ratio, compared with 0.44% for JPEM.

Which ETF pays a higher dividend yield, JPEM or EMCS?

JPEM has the higher dividend yield at 4.40%, compared with 1.25% for EMCS.

What is the main difference between JPEM and EMCS?

JPEM tracks JPMorgan Diversified Factor Emerging Markets Equity Index, while EMCS tracks MSCI Emerging Markets Climate Select Index. They also come from different issuers: JPMorgan and Xtrackers. Their fees differ too: 0.44% for JPEM and 0.15% for EMCS.

Which has better risk-adjusted returns?

EMCS currently has the higher Sharpe Ratio (2.71 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.