JPMB vs. VWOB
JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both Emerging Markets Bonds funds - JPMB tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index while VWOB tracks the Bloomberg USD Emerging Markets Government RIC Capped Index. Both are passively managed. Over the past 5 years, JPMB returned 1.42%/yr vs 2.07%/yr for VWOB. Their correlation of 0.88 suggests significant overlap in exposure. JPMB charges 0.39%/yr vs 0.15%/yr for VWOB.
Performance
JPMB vs. VWOB - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JPMB having a 1.95% return and VWOB slightly lower at 1.92%.
JPMB
- 1D
- -0.11%
- 1M
- 1.76%
- YTD
- 1.95%
- 6M
- 1.93%
- 1Y
- 10.60%
- 3Y*
- 7.78%
- 5Y*
- 1.42%
- 10Y*
- —
VWOB
- 1D
- -0.16%
- 1M
- 1.64%
- YTD
- 1.92%
- 6M
- 1.94%
- 1Y
- 10.08%
- 3Y*
- 9.01%
- 5Y*
- 2.07%
- 10Y*
- 3.50%
JPMB vs. VWOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 1.95% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.74% |
VWOB Vanguard Emerging Markets Government Bond ETF | 1.92% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.40% |
Correlation
The correlation between JPMB and VWOB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| 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 Jan 31, 2018 | 0.88 |
The correlation between JPMB and VWOB has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
JPMB vs. VWOB — Risk / Return Rank
JPMB
VWOB
JPMB vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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 | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.26 | +0.05 |
| Martin ratioReturn relative to average drawdown | 9.81 | 9.52 | +0.29 |
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Drawdowns
JPMB vs. VWOB - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, roughly equal to the maximum VWOB drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for JPMB and VWOB.
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Drawdown Indicators
| JPMB | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -26.98% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -4.48% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -7.71% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -26.98% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.98% | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.53% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -4.79% | -2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.06% | +0.02% |
Volatility
JPMB vs. VWOB - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and Vanguard Emerging Markets Government Bond ETF (VWOB) have volatilities of 1.79% and 1.74%, 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 | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 1.74% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 4.34% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 5.29% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 9.19% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | 9.35% | +0.28% |
JPMB vs. VWOB - Expense Ratio Comparison
JPMB has a 0.39% expense ratio, which is higher than VWOB's 0.15% expense ratio.
Dividends
JPMB vs. VWOB - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 5.78%, which matches VWOB's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.82% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
With a correlation of 0.95, JPMB and VWOB 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 (1.79%) compared to VWOB (1.74%). In terms of maximum drawdown, JPMB dropped -26.33% vs VWOB's -26.98%.
On 5-year performance, VWOB leads with 2.07% vs 1.42% for JPMB. On fees, VWOB is cheaper at 0.15% per year. 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, VWOB has performed better with a 2.07% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.15% expense ratio, compared with 0.39% for JPMB.
VWOB has the higher dividend yield at 5.82%, compared with 5.78% for JPMB.
JPMB tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index, while VWOB tracks Bloomberg USD Emerging Markets Government RIC Capped Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.39% for JPMB and 0.15% for VWOB.
JPMB currently has the higher Sharpe Ratio (1.96 vs 1.92), 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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