JPMB.L vs. CNYB.L
JPMB.L (JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist)) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - JPMB.L tracks the J.P. Morgan Emerging Market Risk Aware Bond Index while CNYB.L tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, JPMB.L returned 1.26%/yr vs 3.11%/yr for CNYB.L. At a 0.15 correlation, their price movements are largely independent. JPMB.L charges 0.39%/yr vs 0.35%/yr for CNYB.L.
Performance
JPMB.L vs. CNYB.L - Performance Comparison
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Different Trading Currencies
JPMB.L is traded in USD, while CNYB.L is traded in GBP. To make them comparable, the CNYB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JPMB.L achieves a 1.42% return, which is significantly lower than CNYB.L's 5.03% return.
JPMB.L
- 1D
- -0.07%
- 1M
- -0.73%
- 6M
- 1.57%
- YTD
- 1.42%
- 1Y
- 9.06%
- 3Y*
- 7.06%
- 5Y*
- 1.26%
- 10Y*
- —
CNYB.L
- 1D
- 0.03%
- 1M
- 0.85%
- 6M
- 4.87%
- YTD
- 5.03%
- 1Y
- 7.39%
- 3Y*
- 5.95%
- 5Y*
- 3.11%
- 10Y*
- —
JPMB.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JPMB.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) | 1.42% | 13.29% | 1.97% | 9.51% | -16.15% | -2.40% | 5.30% | 4.11% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.03% | 5.18% | 4.87% | 0.97% | -5.14% | 8.69% | -17.34% | 6.70% |
Correlation
The correlation between JPMB.L and CNYB.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.15 |
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Return for Risk
JPMB.L vs. CNYB.L — Risk / Return Rank
JPMB.L
CNYB.L
JPMB.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) (JPMB.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.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.
| JPMB.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 5.64 | -3.65 |
| Martin ratioReturn relative to average drawdown | 8.71 | 16.08 | -7.38 |
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Drawdowns
JPMB.L vs. CNYB.L - Drawdown Comparison
The maximum JPMB.L drawdown since its inception was -26.70%, which is greater than CNYB.L's maximum drawdown of -24.43%. Use the drawdown chart below to compare losses from any high point for JPMB.L and CNYB.L.
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Drawdown Indicators
| JPMB.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.70% | -24.43% | -2.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -1.30% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.27% | -3.73% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -25.95% | -11.92% | -14.03% |
Current DrawdownCurrent decline from peak | -1.01% | -5.07% | +4.06% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -13.91% | +6.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.46% | +0.58% |
Volatility
JPMB.L vs. CNYB.L - Volatility Comparison
The current volatility for JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) (JPMB.L) is 1.00%, while iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) has a volatility of 1.27%. This indicates that JPMB.L experiences smaller price fluctuations and is considered to be less risky than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPMB.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.27% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 4.27% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.41% | 5.17% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.47% | 6.79% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.61% | 12.07% | -2.46% |
JPMB.L vs. CNYB.L - Expense Ratio Comparison
JPMB.L has a 0.39% expense ratio, which is higher than CNYB.L's 0.35% expense ratio.
Dividends
JPMB.L vs. CNYB.L - Dividend Comparison
JPMB.L's dividend yield for the trailing twelve months is around 5.91%, more than CNYB.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% | 0.00% |
JPMB.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Dist) | 5.91% | 5.98% | 5.84% | 5.31% | 5.49% | 4.13% | 4.08% | 4.41% | 4.13% |
Frequently Asked Questions
JPMB.L and CNYB.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNYB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNYB.L is cheaper with a 0.35% expense ratio, compared with 0.39% for JPMB.L.
JPMB.L tracks J.P. Morgan Emerging Market Risk Aware Bond Index, while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JPMB.L and 0.35% for CNYB.L.
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