JPMB vs. EMB
JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both Emerging Markets Bonds funds - JPMB tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index while EMB tracks the JPMorgan EMBI Global Core Index. Both are passively managed. Over the past 5 years, JPMB returned 1.42%/yr vs 1.86%/yr for EMB. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.
Performance
JPMB vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, JPMB achieves a 1.60% return, which is significantly lower than EMB's 1.80% return.
JPMB
- 1D
- -0.38%
- 1M
- 1.30%
- YTD
- 1.60%
- 6M
- 1.55%
- 1Y
- 11.48%
- 3Y*
- 7.93%
- 5Y*
- 1.42%
- 10Y*
- —
EMB
- 1D
- -0.37%
- 1M
- 1.29%
- YTD
- 1.80%
- 6M
- 1.93%
- 1Y
- 11.56%
- 3Y*
- 9.74%
- 5Y*
- 1.86%
- 10Y*
- 3.29%
JPMB vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 1.60% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.72% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.80% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -4.87% |
Correlation
The correlation between JPMB and EMB is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018 | 0.89 |
The correlation between JPMB and EMB has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.
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Return for Risk
JPMB vs. EMB — Risk / Return Rank
JPMB
EMB
JPMB vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
| JPMB | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.41 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.58 | -0.07 |
| Martin ratioReturn relative to average drawdown | 10.66 | 11.01 | -0.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPMB | EMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 2.09 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.19 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.44 | -0.16 |
Drawdowns
JPMB vs. EMB - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, smaller than the maximum EMB drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for JPMB and EMB.
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Drawdown Indicators
| JPMB | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -34.70% | +8.37% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -4.51% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -7.95% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -28.74% | +2.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.74% | — |
Current DrawdownCurrent decline from peak | -0.38% | -0.37% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -7.06% | -5.06% | -2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.05% | +0.03% |
Volatility
JPMB vs. EMB - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) have volatilities of 1.90% and 1.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPMB | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.85% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.37% | 4.52% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 5.56% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 9.75% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.65% | 9.96% | -0.31% |
JPMB vs. EMB - Expense Ratio Comparison
Both JPMB and EMB have an expense ratio of 0.39%.
Dividends
JPMB vs. EMB - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 5.80%, more than EMB's 5.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.06% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 5.80% | 6.71% | 6.32% | 5.99% | 4.94% | 4.29% | 4.29% | 4.51% | 4.58% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, JPMB and EMB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JPMB has higher volatility (1.90%) compared to EMB (1.85%). In terms of maximum drawdown, JPMB dropped -26.33% vs EMB's -34.70%.
On 5-year performance, EMB leads with 1.86% vs 1.42% for JPMB. Both ETFs have the same 0.39% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMB has performed better with a 1.86% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPMB and EMB have the same expense ratio: 0.39% per year.
JPMB has the higher dividend yield at 5.80%, compared with 5.06% for EMB.
JPMB tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index, while EMB tracks JPMorgan EMBI Global Core Index. They also come from different issuers: JPMorgan and iShares.
JPMB currently has the higher Sharpe Ratio (2.18 vs 2.09), 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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