JRDG.L vs. BBRT.L

Last updated Jun 5, 2026

JRDG.L (JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and BBRT.L (JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc)) are both exchange-traded funds - JRDG.L is a Global Equities fund tracking the MSCI ACWI NR USD, while BBRT.L is a Government Bonds fund tracking the J.P. Morgan Government Bond US Index. Both are passively managed. Over the past 3 years, JRDG.L returned 17.10%/yr vs 0.09%/yr for BBRT.L. At a 0.00 correlation, their price movements are largely independent. JRDG.L charges 0.25%/yr vs 0.07%/yr for BBRT.L.

Performance

JRDG.L vs. BBRT.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDG.L) and JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) (BBRT.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JRDG.L is traded in GBp, while BBRT.L is traded in GBP. To make them comparable, the BBRT.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, JRDG.L achieves a 9.68% return, which is significantly higher than BBRT.L's -0.18% return.

JRDG.L

• 1D: 0.17%
• 1M: 3.34%
• YTD: 9.68%
• 6M: 9.54%
• 1Y: 26.21%
• 3Y*: 17.10%
• 5Y*: —
• 10Y*: —

BBRT.L

• 1D: 0.22%
• 1M: 0.96%
• YTD: -0.18%
• 6M: -0.66%
• 1Y: 4.79%
• 3Y*: 0.09%
• 5Y*: 0.50%
• 10Y*: —

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

JRDG.L vs. BBRT.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JRDG.L JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	9.68%	11.47%	20.63%	18.78%	-7.76%	7.99%
BBRT.L JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc)	-0.18%	-0.87%	2.21%	-1.99%	-2.50%	0.04%

Correlation

The correlation between JRDG.L and BBRT.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.00

The correlation between JRDG.L and BBRT.L shifts across timeframes, from 0.00 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JRDG.L vs. BBRT.L — Risk / Return Rank

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

JRDG.L

JRDG.L Risk / Return Rank: 81
JRDG.L Sharpe Ratio Rank: 82
JRDG.L Sortino Ratio Rank: 81
JRDG.L Omega Ratio Rank: 84
JRDG.L Calmar Ratio Rank: 78
JRDG.L Martin Ratio Rank: 82

BBRT.L

BBRT.L Risk / Return Rank: 21
BBRT.L Sharpe Ratio Rank: 22
BBRT.L Sortino Ratio Rank: 22
BBRT.L Omega Ratio Rank: 21
BBRT.L Calmar Ratio Rank: 20
BBRT.L Martin Ratio Rank: 19

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.

JRDG.L vs. BBRT.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDG.L) and JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) (BBRT.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.

	JRDG.L	BBRT.L	Difference
Sharpe ratio: Return per unit of total volatility	2.61	0.74	+1.86
Sortino ratio: Return per unit of downside risk	3.59	1.14	+2.44
Omega ratio: Gain probability vs. loss probability	1.50	1.13	+0.36
Calmar ratio: Return relative to maximum drawdown	3.95	0.87	+3.08
Martin ratio: Return relative to average drawdown	16.26	2.05	+14.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRDG.L vs. BBRT.L - Sharpe Ratio Comparison

The current JRDG.L Sharpe Ratio is 2.61, which is higher than the BBRT.L Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of JRDG.L and BBRT.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.

Sharpe Ratios by Period

	JRDG.L	BBRT.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	0.74	+1.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.05	+0.89

Drawdowns

JRDG.L vs. BBRT.L - Drawdown Comparison

The maximum JRDG.L drawdown since its inception was -18.59%, smaller than the maximum BBRT.L drawdown of -24.57%. Use the drawdown chart below to compare losses from any high point for JRDG.L and BBRT.L.

Drawdown Indicators

	JRDG.L	BBRT.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-24.57%	+5.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.62%	-5.22%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-18.59%	-8.23%	-10.36%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.20%	—
Current Drawdown Current decline from peak	-0.15%	-19.97%	+19.82%
Average Drawdown Average peak-to-trough decline	-3.15%	-16.82%	+13.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	2.21%	-0.60%

Volatility

JRDG.L vs. BBRT.L - Volatility Comparison

JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDG.L) has a higher volatility of 2.43% compared to JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc) (BBRT.L) at 1.49%. This indicates that JRDG.L's price experiences larger fluctuations and is considered to be riskier than BBRT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRDG.L	BBRT.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.43%	1.49%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	4.49%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	10.04%	6.10%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.43%	8.83%	+4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.43%	9.57%	+3.86%

JRDG.L vs. BBRT.L - Expense Ratio Comparison

JRDG.L has a 0.25% expense ratio, which is higher than BBRT.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JRDG.L vs. BBRT.L - Dividend Comparison

JRDG.L's dividend yield for the trailing twelve months is around 1.03%, while BBRT.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BBRT.L JPMorgan BetaBuilders US Treasury Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%
JRDG.L JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	1.03%	0.99%	1.01%	0.94%	1.43%

Frequently Asked Questions

Can I hold both JRDG.L and BBRT.L in my portfolio?

JRDG.L and BBRT.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRDG.L or BBRT.L?

On fees, BBRT.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRDG.L or BBRT.L?

BBRT.L is cheaper with a 0.07% expense ratio, compared with 0.25% for JRDG.L.

What is the main difference between JRDG.L and BBRT.L?

JRDG.L is categorized as Global Equities, while BBRT.L is Government Bonds. JRDG.L tracks MSCI ACWI NR USD, while BBRT.L tracks J.P. Morgan Government Bond US Index. Their fees differ too: 0.25% for JRDG.L and 0.07% for BBRT.L.