JPMB vs. EMLC
JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both Emerging Markets Bonds funds - JPMB tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index while EMLC tracks the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 5 years, JPMB returned 1.63%/yr vs 1.50%/yr for EMLC. A 0.57 correlation means they provide meaningful diversification when combined. JPMB charges 0.39%/yr vs 0.30%/yr for EMLC.
Performance
JPMB vs. EMLC - Performance Comparison
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Returns By Period
In the year-to-date period, JPMB achieves a 1.98% return, which is significantly higher than EMLC's 1.48% return.
JPMB
- 1D
- 0.33%
- 1M
- 1.07%
- YTD
- 1.98%
- 6M
- 2.23%
- 1Y
- 12.18%
- 3Y*
- 8.07%
- 5Y*
- 1.63%
- 10Y*
- —
EMLC
- 1D
- 0.12%
- 1M
- 1.02%
- YTD
- 1.48%
- 6M
- 2.90%
- 1Y
- 9.92%
- 3Y*
- 7.11%
- 5Y*
- 1.50%
- 10Y*
- 2.19%
JPMB vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 1.98% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.72% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.48% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -10.90% |
Correlation
The correlation between JPMB and EMLC is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018 | 0.57 |
The correlation between JPMB and EMLC has been stable across timeframes, ranging from 0.57 to 0.64 - a consistent structural relationship.
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Return for Risk
JPMB vs. EMLC — Risk / Return Rank
JPMB
EMLC
JPMB vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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 | EMLC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.32 | 1.45 | +0.87 |
Sortino ratioReturn per unit of downside risk | 3.40 | 2.04 | +1.35 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.28 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.71 | +0.89 |
Martin ratioReturn relative to average drawdown | 11.13 | 5.94 | +5.19 |
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 | EMLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 1.45 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.17 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.11 | +0.17 |
Drawdowns
JPMB vs. EMLC - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, smaller than the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for JPMB and EMLC.
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Drawdown Indicators
| JPMB | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -32.43% | +6.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -6.19% | +1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -9.15% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -25.26% | -0.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.47% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.76% | +3.76% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -14.37% | +7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.78% | -0.70% |
Volatility
JPMB vs. EMLC - Volatility Comparison
The current volatility for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) is 1.97%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.22%. This indicates that JPMB experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPMB | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 2.22% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.97% | -1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 6.90% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 9.13% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.65% | 10.05% | -0.40% |
JPMB vs. EMLC - Expense Ratio Comparison
JPMB has a 0.39% expense ratio, which is higher than EMLC's 0.30% expense ratio.
Dividends
JPMB vs. EMLC - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 5.77%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 5.77% | 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
JPMB and EMLC have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (2.22%) compared to JPMB (1.97%). In terms of maximum drawdown, JPMB dropped -26.33% vs EMLC's -32.43%.
On 5-year performance, JPMB leads with 1.63% vs 1.50% for EMLC. On fees, EMLC is cheaper at 0.30% per year. On volatility, JPMB has been the lower-risk option at 1.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPMB has performed better with a 1.63% return vs 1.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMLC is cheaper with a 0.30% expense ratio, compared with 0.39% for JPMB.
EMLC has the higher dividend yield at 6.16%, compared with 5.77% for JPMB.
JPMB tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.39% for JPMB and 0.30% for EMLC.
JPMB currently has the higher Sharpe Ratio (2.32 vs 1.45), 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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