JPMB vs. JPIE

Last updated Jun 24, 2026

JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) and JPIE (JPMorgan Income ETF) are both exchange-traded funds - JPMB is a Emerging Markets Bonds fund tracking the J.P. Morgan Emerging Markets Risk-Aware Bond Index, while JPIE is a Multisector Bonds fund actively managed by JPMorgan. JPMB is passively managed, while JPIE is actively managed. Over the past 3 years, JPMB returned 7.78%/yr vs 6.60%/yr for JPIE. A 0.73 correlation means they provide meaningful diversification when combined. JPMB charges 0.39%/yr vs 0.40%/yr for JPIE.

Performance

JPMB vs. JPIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and JPMorgan Income ETF (JPIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPMB achieves a 1.95% return, which is significantly higher than JPIE's 1.49% return.

JPMB

• 1D: -0.11%
• 1M: 1.76%
• YTD: 1.95%
• 6M: 1.93%
• 1Y: 10.60%
• 3Y*: 7.78%
• 5Y*: 1.42%
• 10Y*: —

JPIE

• 1D: 0.02%
• 1M: 0.50%
• YTD: 1.49%
• 6M: 1.65%
• 1Y: 5.35%
• 3Y*: 6.60%
• 5Y*: —
• 10Y*: —

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

JPMB vs. JPIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF	1.95%	13.73%	1.46%	9.48%	-16.05%	0.15%
JPIE JPMorgan Income ETF	1.49%	7.39%	6.32%	7.07%	-6.13%	0.27%

Correlation

The correlation between JPMB and JPIE is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.73

The correlation between JPMB and JPIE has been stable across timeframes, ranging from 0.73 to 0.73 - a consistent structural relationship.

Return for Risk

JPMB vs. JPIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPMB

JPMB Risk / Return Rank: 62
JPMB Sharpe Ratio Rank: 64
JPMB Sortino Ratio Rank: 68
JPMB Omega Ratio Rank: 68
JPMB Calmar Ratio Rank: 50
JPMB Martin Ratio Rank: 59

JPIE

JPIE Risk / Return Rank: 93
JPIE Sharpe Ratio Rank: 94
JPIE Sortino Ratio Rank: 96
JPIE Omega Ratio Rank: 96
JPIE Calmar Ratio Rank: 86
JPIE Martin Ratio Rank: 93

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.

JPMB vs. JPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and JPMorgan Income ETF (JPIE). 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	JPIE	Difference
Sharpe ratio: Return per unit of total volatility	1.96	3.33	-1.37
Sortino ratio: Return per unit of downside risk	2.89	5.14	-2.25
Omega ratio: Gain probability vs. loss probability	1.38	1.74	-0.37
Calmar ratio: Return relative to maximum drawdown	2.31	4.68	-2.37
Martin ratio: Return relative to average drawdown	9.81	22.79	-12.99

JPMB vs. JPIE - Sharpe Ratio Comparison

The current JPMB Sharpe Ratio is 1.96, which is lower than the JPIE Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of JPMB and JPIE, 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

JPMB vs. JPIE - Drawdown Comparison

The maximum JPMB drawdown since its inception was -26.33%, which is greater than JPIE's maximum drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for JPMB and JPIE.

Drawdown Indicators

	JPMB	JPIE	Difference
Max Drawdown Largest peak-to-trough decline	-26.33%	-9.96%	-16.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-1.15%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-7.53%	-2.40%	-5.13%
Max Drawdown (5Y) Largest decline over 5 years	-26.16%	—	—
Current Drawdown Current decline from peak	-0.53%	-0.33%	-0.20%
Average Drawdown Average peak-to-trough decline	-7.02%	-2.07%	-4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	0.24%	+0.84%

Volatility

JPMB vs. JPIE - Volatility Comparison

JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) has a higher volatility of 1.79% compared to JPMorgan Income ETF (JPIE) at 0.59%. This indicates that JPMB's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPMB	JPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.79%	0.59%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	4.53%	1.34%	+3.19%
Volatility (1Y) Calculated over the trailing 1-year period	5.43%	1.61%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.94%	3.51%	+5.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.63%	3.51%	+6.12%

JPMB vs. JPIE - Expense Ratio Comparison

JPMB has a 0.39% expense ratio, which is lower than JPIE's 0.40% expense ratio.

Dividends

JPMB vs. JPIE - Dividend Comparison

JPMB's dividend yield for the trailing twelve months is around 5.78%, more than JPIE's 5.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JPIE JPMorgan Income ETF	5.62%	5.65%	6.11%	5.70%	4.49%	0.63%	0.00%	0.00%	0.00%
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF	5.78%	6.71%	6.32%	5.99%	4.94%	4.29%	4.29%	4.51%	4.58%

Frequently Asked Questions

Can I hold both JPMB and JPIE in my portfolio?

JPMB and JPIE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPMB or JPIE?

JPMB has higher volatility (1.79%) compared to JPIE (0.59%). In terms of maximum drawdown, JPMB dropped -26.33% vs JPIE's -9.96%.

Which ETF is better, JPMB or JPIE?

On 3-year performance, JPMB leads with 7.78% vs 6.60% for JPIE. On fees, JPMB is cheaper at 0.39% per year. On volatility, JPIE has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPMB or JPIE?

Over the 3-year period, JPMB has performed better with a 7.78% return vs 6.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPMB or JPIE?

JPMB is cheaper with a 0.39% expense ratio, compared with 0.40% for JPIE.

Which ETF pays a higher dividend yield, JPMB or JPIE?

JPMB has the higher dividend yield at 5.78%, compared with 5.62% for JPIE.

What is the main difference between JPMB and JPIE?

JPMB is categorized as Emerging Markets Bonds, while JPIE is Multisector Bonds. Their fees differ too: 0.39% for JPMB and 0.40% for JPIE.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.33 vs 1.96), 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.