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JPM vs. IEMG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPM vs. IEMG

Last updated Jun 13, 2026

JPM (JPMorgan Chase & Co.) is a stock, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, JPM returned 21.02%/yr vs 10.42%/yr for IEMG. At a 0.46 correlation, their price movements are largely independent.

Performance

JPM vs. IEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Chase & Co. (JPM) and iShares Core MSCI Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JPM achieves a 0.50% return, which is significantly lower than IEMG's 22.84% return. Over the past 10 years, JPM has outperformed IEMG with an annualized return of 21.02%, while IEMG has yielded a comparatively lower 10.42% annualized return.

JPM

1D
2.31%
1M
6.94%
YTD
0.50%
6M
1.66%
1Y
23.40%
3Y*
34.22%
5Y*
17.82%
10Y*
21.02%

IEMG

1D
0.61%
1M
0.34%
YTD
22.84%
6M
25.59%
1Y
44.83%
3Y*
21.33%
5Y*
7.15%
10Y*
10.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPM vs. IEMG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JPM
JPMorgan Chase & Co.		0.50%37.27%44.29%30.63%-12.64%27.75%-5.53%47.26%-6.62%26.76%
IEMG
iShares Core MSCI Emerging Markets ETF		22.84%32.56%6.50%11.52%-19.98%-0.64%17.87%17.81%-14.92%37.38%

Correlation

The correlation between JPM and IEMG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.32

Correlation (5Y)
Calculated over the trailing 5-year period

0.40

Correlation (10Y)
Calculated over the trailing 10-year period

0.42

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.46

The correlation between JPM and IEMG shifts across timeframes, from 0.30 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

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JPMorgan Chase & Co.

iShares Core MSCI Emerging Markets ETF

Often compared with JPM:
JPM vs. BACJPM vs. SPYJPM vs. BLKJPM vs. AXPJPM vs. VOOJPM vs. UBSJPM vs. HSBC
Often compared with IEMG:
IEMG vs. VWOIEMG vs. EEMIEMG vs. IEFAIEMG vs. EMXCIEMG vs. SCHEIEMG vs. IXUSIEMG vs. SPY

Return for Risk

JPM vs. IEMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPM
JPM Risk / Return Rank: 6969
Overall Rank
JPM Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
JPM Sortino Ratio Rank: 6666
Sortino Ratio Rank
JPM Omega Ratio Rank: 6666
Omega Ratio Rank
JPM Calmar Ratio Rank: 7070
Calmar Ratio Rank
JPM Martin Ratio Rank: 7070
Martin Ratio Rank
IEMG
IEMG Risk / Return Rank: 7373
Overall Rank
IEMG Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IEMG Sortino Ratio Rank: 6767
Sortino Ratio Rank
IEMG Omega Ratio Rank: 7676
Omega Ratio Rank
IEMG Calmar Ratio Rank: 7373
Calmar Ratio Rank
IEMG Martin Ratio Rank: 7373
Martin Ratio Rank
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.

JPM vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.

JPMIEMGDifference
Sharpe ratioReturn per unit of total volatility
1.01
2.03

-1.02

Sortino ratioReturn per unit of downside risk
1.43
2.65

-1.22

Omega ratioGain probability vs. loss probability

1.18

1.39

-0.20

Calmar ratioReturn relative to maximum drawdown

1.42

3.23

-1.81

Martin ratioReturn relative to average drawdown

3.36

11.89

-8.53

JPM vs. IEMG - Sharpe Ratio Comparison

The current JPM Sharpe Ratio is 1.01, which is lower than the IEMG Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of JPM and IEMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JPM vs. IEMG - Drawdown Comparison

The maximum JPM drawdown since its inception was -76.16%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for JPM and IEMG.

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Drawdown Indicators

JPMIEMGDifference

Max Drawdown

Largest peak-to-trough decline

-76.16%

-38.71%

-37.45%

Max Drawdown (1Y)

Largest decline over 1 year

-15.47%

-13.21%

-2.26%

Max Drawdown (3Y)

Largest decline over 3 years

-24.42%

-17.21%

-7.21%

Max Drawdown (5Y)

Largest decline over 5 years

-38.77%

-35.75%

-3.02%

Max Drawdown (10Y)

Largest decline over 10 years

-43.63%

-38.71%

-4.92%

Current Drawdown

Current decline from peak

-3.66%

-3.98%

+0.32%

Average Drawdown

Average peak-to-trough decline

-17.62%

-12.95%

-4.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.54%

3.59%

+2.95%

Volatility

JPM vs. IEMG - Volatility Comparison

The current volatility for JPMorgan Chase & Co. (JPM) is 6.35%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.60%. This indicates that JPM experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JPMIEMGDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.35%

10.60%

-4.25%

Volatility (6M)

Calculated over the trailing 6-month period

16.67%

18.89%

-2.22%

Volatility (1Y)

Calculated over the trailing 1-year period

21.76%

21.08%

+0.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.46%

18.73%

+5.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.39%

20.17%

+7.22%

Dividends

JPM vs. IEMG - Dividend Comparison

JPM's dividend yield for the trailing twelve months is around 1.84%, less than IEMG's 2.24% yield.

PositionTTM20252024202320222021202020192018201720162015
IEMG
iShares Core MSCI Emerging Markets ETF		2.24%2.75%3.20%2.89%2.71%3.06%1.87%3.15%2.76%2.35%2.28%2.53%
JPM
JPMorgan Chase & Co.		1.84%1.72%1.92%2.38%2.98%2.34%2.83%2.37%2.54%1.91%2.13%2.54%

Frequently Asked Questions

JPM and IEMG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEMG has higher volatility (10.60%) compared to JPM (6.35%). In terms of maximum drawdown, JPM dropped -76.16% vs IEMG's -38.71%.

IEMG currently has the higher Sharpe Ratio (2.03 vs 1.01), 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.

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