JR15.L vs. EMAU.L

Last updated Jul 18, 2026

JR15.L (JPM EUR 1-5 Year IG Corporate Bond Active UCITS ETF EUR (Acc)) and EMAU.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) are both exchange-traded funds - JR15.L is a European Corporate Bonds fund actively managed by JPMorgan, while EMAU.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. JR15.L is actively managed, while EMAU.L is passively managed. Over the past 3 years, JR15.L returned 4.16%/yr vs 5.56%/yr for EMAU.L. At a 0.19 correlation, their price movements are largely independent. JR15.L charges 0.04%/yr vs 0.35%/yr for EMAU.L.

Performance

JR15.L vs. EMAU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPM EUR 1-5 Year IG Corporate Bond Active UCITS ETF EUR (Acc) (JR15.L) and L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JR15.L is traded in EUR, while EMAU.L is traded in USD. To make them comparable, the EMAU.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, JR15.L achieves a 0.45% return, which is significantly lower than EMAU.L's 3.80% return.

JR15.L

• 1D: -0.06%
• 1M: -0.24%
• 6M: 0.24%
• YTD: 0.45%
• 1Y: 1.52%
• 3Y*: 4.16%
• 5Y*: 1.11%
• 10Y*: —

EMAU.L

• 1D: -0.39%
• 1M: 0.16%
• 6M: 2.22%
• YTD: 3.80%
• 1Y: 6.48%
• 3Y*: 5.56%
• 5Y*: —
• 10Y*: —

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

JR15.L vs. EMAU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JR15.L JPM EUR 1-5 Year IG Corporate Bond Active UCITS ETF EUR (Acc)	0.45%	3.45%	4.35%	6.21%	-7.76%	-0.69%
EMAU.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)	3.80%	-4.76%	12.65%	3.64%	-5.85%	2.55%

Correlation

The correlation between JR15.L and EMAU.L is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 26, 2021	0.19

The correlation between JR15.L and EMAU.L shifts across timeframes, from 0.01 (1 year) to 0.20 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

JR15.L vs. EMAU.L — Risk / Return Rank

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

JR15.L

JR15.L Risk / Return Rank: 27
JR15.L Sharpe Ratio Rank: 28
JR15.L Sortino Ratio Rank: 28
JR15.L Omega Ratio Rank: 30
JR15.L Calmar Ratio Rank: 22
JR15.L Martin Ratio Rank: 27

EMAU.L

EMAU.L Risk / Return Rank: 68
EMAU.L Sharpe Ratio Rank: 68
EMAU.L Sortino Ratio Rank: 73
EMAU.L Omega Ratio Rank: 70
EMAU.L Calmar Ratio Rank: 58
EMAU.L Martin Ratio Rank: 72

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.

JR15.L vs. EMAU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPM EUR 1-5 Year IG Corporate Bond Active UCITS ETF EUR (Acc) (JR15.L) and L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.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.

	JR15.L	EMAU.L	Difference
Sharpe ratio: Return per unit of total volatility	0.78	1.11	-0.33
Sortino ratio: Return per unit of downside risk	1.18	1.62	-0.44
Omega ratio: Gain probability vs. loss probability	1.16	1.20	-0.04
Calmar ratio: Return relative to maximum drawdown	0.77	1.94	-1.18
Martin ratio: Return relative to average drawdown	2.77	5.94	-3.17

JR15.L vs. EMAU.L - Sharpe Ratio Comparison

The current JR15.L Sharpe Ratio is 0.78, which is comparable to the EMAU.L Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of JR15.L and EMAU.L, 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

JR15.L vs. EMAU.L - Drawdown Comparison

The maximum JR15.L drawdown since its inception was -10.19%, smaller than the maximum EMAU.L drawdown of -11.19%. Use the drawdown chart below to compare losses from any high point for JR15.L and EMAU.L.

Drawdown Indicators

	JR15.L	EMAU.L	Difference
Max Drawdown Largest peak-to-trough decline	-10.19%	-11.19%	+1.00%
Max Drawdown (1Y) Largest decline over 1 year	-1.97%	-3.50%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-1.97%	-11.19%	+9.22%
Max Drawdown (5Y) Largest decline over 5 years	-10.19%	—	—
Current Drawdown Current decline from peak	-0.57%	-3.24%	+2.67%
Average Drawdown Average peak-to-trough decline	-2.18%	-4.11%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.15%	-0.60%

Volatility

JR15.L vs. EMAU.L - Volatility Comparison

The current volatility for JPM EUR 1-5 Year IG Corporate Bond Active UCITS ETF EUR (Acc) (JR15.L) is 0.51%, while L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.L) has a volatility of 1.65%. This indicates that JR15.L experiences smaller price fluctuations and is considered to be less risky than EMAU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JR15.L	EMAU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	1.65%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	1.80%	4.68%	-2.88%
Volatility (1Y) Calculated over the trailing 1-year period	1.95%	6.14%	-4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.56%	7.81%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.11%	7.81%	-4.70%

JR15.L vs. EMAU.L - Expense Ratio Comparison

JR15.L has a 0.04% expense ratio, which is lower than EMAU.L's 0.35% expense ratio.

Dividends

JR15.L vs. EMAU.L - Dividend Comparison

Neither JR15.L nor EMAU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JR15.L and EMAU.L in my portfolio?

JR15.L and EMAU.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JR15.L or EMAU.L?

On fees, JR15.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JR15.L or EMAU.L?

JR15.L is cheaper with a 0.04% expense ratio, compared with 0.35% for EMAU.L.

What is the main difference between JR15.L and EMAU.L?

JR15.L is categorized as European Corporate Bonds, while EMAU.L is Emerging Markets Bonds. They also come from different issuers: JPMorgan and L&G. Their fees differ too: 0.04% for JR15.L and 0.35% for EMAU.L.