JPEM vs. RNEM

Last updated Aug 2, 2026

JPEM (J.P. Morgan Diversified Return Emerging Markets Equity ETF) and RNEM (First Trust Emerging Markets Equity Select ETF) are both Emerging Markets Equities funds - JPEM tracks the JPMorgan Diversified Factor Emerging Markets Equity Index while RNEM tracks the Nasdaq Riskalyze Emerging Markets Equity Select Index. Both are passively managed. Over the past 5 years, JPEM returned 7.18%/yr vs 5.70%/yr for RNEM. Their 0.74 correlation means they have sometimes moved together and sometimes differently. JPEM charges 0.44%/yr vs 0.75%/yr for RNEM.

Performance

JPEM vs. RNEM - 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 First Trust Emerging Markets Equity Select ETF (RNEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEM achieves a 8.42% return, which is significantly higher than RNEM's 3.95% return.

JPEM

• 1D: -0.09%
• 1M: 3.23%
• 6M: 1.88%
• YTD: 8.42%
• 1Y: 20.19%
• 3Y*: 12.56%
• 5Y*: 7.18%
• 10Y*: 7.21%
• ALL TIME*: 5.78%

RNEM

• 1D: -0.17%
• 1M: 4.02%
• 6M: 1.40%
• YTD: 3.95%
• 1Y: 9.33%
• 3Y*: 6.73%
• 5Y*: 5.70%
• 10Y*: —
• ALL TIME*: 4.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	$760.96K	$794.41K	$1.08M
RNEM First Trust Emerging Markets Equity Select ETF	$35.85K	$33.48K	$54.35K

JPEM vs. RNEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	8.42%	22.90%	4.23%	11.01%	-9.03%	8.11%	-0.46%	16.21%	-10.55%	14.41%
RNEM First Trust Emerging Markets Equity Select ETF	3.95%	15.58%	-1.47%	23.43%	-8.75%	6.16%	-8.16%	12.76%	-9.34%	11.97%

Correlation

The correlation between JPEM and RNEM is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.74

The correlation between JPEM and RNEM shifts across timeframes, from 0.74 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.

JPEM vs. RNEM - Sectors Allocation Comparison

Sectors	JPEM	RNEM
Financial Services	20.2%	36.0%
Industrials	12.6%	4.1%
Basic Materials	12.0%	13.8%
Consumer Cyclical	10.6%	10.0%
Consumer Defensive	8.6%	5.9%
Utilities	8.6%	3.4%
Communication Services	8.2%	8.5%
Energy	7.0%	6.5%
Technology	6.2%	6.5%
Healthcare	3.9%	4.5%
Real Estate	2.2%	0.8%

Return for Risk

JPEM vs. RNEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JPEM

JPEM Risk / Return Rank: 61
JPEM Sharpe Ratio Rank: 64
JPEM Sortino Ratio Rank: 62
JPEM Omega Ratio Rank: 65
JPEM Calmar Ratio Rank: 56
JPEM Martin Ratio Rank: 55

RNEM

RNEM Risk / Return Rank: 29
RNEM Sharpe Ratio Rank: 30
RNEM Sortino Ratio Rank: 30
RNEM Omega Ratio Rank: 29
RNEM Calmar Ratio Rank: 27
RNEM Martin Ratio Rank: 28

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JPEM vs. RNEM - 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 First Trust Emerging Markets Equity Select ETF (RNEM). 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.

	JPEM	RNEM	Difference
Sharpe ratio: Return per unit of total volatility	1.49	0.75	+0.74
Sortino ratio: Return per unit of downside risk	2.09	1.14	+0.95
Omega ratio: Gain probability vs. loss probability	1.28	1.14	+0.14
Calmar ratio: Return relative to maximum drawdown	1.99	0.87	+1.12
Martin ratio: Return relative to average drawdown	6.48	2.31	+4.16

JPEM vs. RNEM - Sharpe Ratio Comparison

The current JPEM Sharpe Ratio is 1.49, which is higher than the RNEM Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of JPEM and RNEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPEM vs. RNEM - Drawdown Comparison

The maximum JPEM drawdown since its inception was -40.22%, roughly equal to the maximum RNEM drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for JPEM and RNEM.

Drawdown Indicators

	JPEM	RNEM	Difference
Max Drawdown Largest peak-to-trough decline	-40.22%	-38.38%	-1.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-10.71%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-13.09%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-21.57%	-21.41%	-0.16%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	—	—
Current Drawdown Current decline from peak	-1.97%	-2.33%	+0.36%
Average Drawdown Average peak-to-trough decline	-9.39%	-9.23%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	4.04%	-0.87%

Volatility

JPEM vs. RNEM - Volatility Comparison

J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) has a higher volatility of 3.77% compared to First Trust Emerging Markets Equity Select ETF (RNEM) at 3.15%. This indicates that JPEM's price experiences larger fluctuations and is considered to be riskier than RNEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEM	RNEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.15%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	12.18%	10.89%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.78%	12.51%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	14.47%	-0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	17.14%	-0.22%

JPEM vs. RNEM - Expense Ratio Comparison

JPEM has a 0.44% expense ratio, which is lower than RNEM's 0.75% expense ratio.

Dividends

JPEM vs. RNEM - Dividend Comparison

JPEM's dividend yield for the trailing twelve months is around 4.28%, more than RNEM's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	4.28%	4.65%	5.12%	4.46%	4.71%	4.40%	2.85%	3.47%	2.79%	2.14%	1.28%	3.22%
RNEM First Trust Emerging Markets Equity Select ETF	2.28%	2.75%	3.45%	1.63%	2.99%	3.20%	3.01%	2.85%	2.85%	2.28%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPEM and RNEM in my portfolio?

JPEM and RNEM have a correlation of 0.85, 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 RNEM?

JPEM has higher volatility (3.77%) compared to RNEM (3.15%). In terms of maximum drawdown, JPEM dropped -40.22% vs RNEM's -38.38%.

Which ETF is better, JPEM or RNEM?

On 5-year performance, JPEM leads with 7.18% vs 5.70% for RNEM. On fees, JPEM is cheaper at 0.44% per year. On volatility, RNEM has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEM or RNEM?

Over the 5-year period, JPEM has performed better with a 7.18% return vs 5.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEM or RNEM?

JPEM is cheaper with a 0.44% expense ratio, compared with 0.75% for RNEM.

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

JPEM has the higher dividend yield at 4.28%, compared with 2.28% for RNEM.

What is the main difference between JPEM and RNEM?

JPEM tracks JPMorgan Diversified Factor Emerging Markets Equity Index, while RNEM tracks Nasdaq Riskalyze Emerging Markets Equity Select Index. They also come from different issuers: JPMorgan and First Trust. Their fees differ too: 0.44% for JPEM and 0.75% for RNEM.

Which has better risk-adjusted returns?

JPEM currently has the higher Sharpe Ratio (1.49 vs 0.75), 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.