JRDM.L vs. HDEM.L

Last updated Jun 4, 2026

JRDM.L (JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and HDEM.L (Invesco FTSE EM High Dividend Low Volatility UCITS ETF) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from JPMorgan and Invesco respectively. Both are passively managed. Over the past year, JRDM.L returned 62.06% vs 26.35% for HDEM.L. At a 0.38 correlation, their price movements are largely independent. JRDM.L charges 0.30%/yr vs 0.49%/yr for HDEM.L.

Performance

JRDM.L vs. HDEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDM.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRDM.L achieves a 31.14% return, which is significantly higher than HDEM.L's 8.90% return.

JRDM.L

• 1D: -0.84%
• 1M: 10.87%
• YTD: 31.14%
• 6M: 33.65%
• 1Y: 62.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDEM.L

• 1D: -0.49%
• 1M: -1.41%
• YTD: 8.90%
• 6M: 7.66%
• 1Y: 26.35%
• 3Y*: 12.37%
• 5Y*: 6.93%
• 10Y*: 8.43%

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

JRDM.L vs. HDEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JRDM.L JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	31.14%	25.58%	12.44%	-3.30%
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	8.90%	18.32%	3.92%	3.96%

Correlation

The correlation between JRDM.L and HDEM.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 25, 2023	0.38

The correlation between JRDM.L and HDEM.L shifts across timeframes, from 0.38 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

JRDM.L vs. HDEM.L - Sectors Allocation Comparison

Sectors	JRDM.L	HDEM.L
Technology	37.5%	4.3%
Financial Services	20.3%	24.3%
Consumer Cyclical	10.7%	7.6%
Communication Services	7.3%	6.0%
Industrials	6.8%	10.6%
Basic Materials	5.9%	5.8%
Energy	4.5%	18.3%
Healthcare	2.7%	1.6%
Consumer Defensive	2.5%	6.9%
Utilities	1.6%	9.9%
Real Estate	0.4%	4.6%

Return for Risk

JRDM.L vs. HDEM.L — Risk / Return Rank

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

JRDM.L

JRDM.L Risk / Return Rank: 94
JRDM.L Sharpe Ratio Rank: 96
JRDM.L Sortino Ratio Rank: 95
JRDM.L Omega Ratio Rank: 95
JRDM.L Calmar Ratio Rank: 93
JRDM.L Martin Ratio Rank: 92

HDEM.L

HDEM.L Risk / Return Rank: 80
HDEM.L Sharpe Ratio Rank: 79
HDEM.L Sortino Ratio Rank: 82
HDEM.L Omega Ratio Rank: 75
HDEM.L Calmar Ratio Rank: 87
HDEM.L Martin Ratio Rank: 76

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.

JRDM.L vs. HDEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDM.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.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.

	JRDM.L	HDEM.L	Difference
Sharpe ratio: Return per unit of total volatility	4.04	2.58	+1.46
Sortino ratio: Return per unit of downside risk	5.12	3.70	+1.42
Omega ratio: Gain probability vs. loss probability	1.74	1.45	+0.29
Calmar ratio: Return relative to maximum drawdown	6.66	4.97	+1.69
Martin ratio: Return relative to average drawdown	22.51	14.44	+8.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRDM.L vs. HDEM.L - Sharpe Ratio Comparison

The current JRDM.L Sharpe Ratio is 4.04, which is higher than the HDEM.L Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of JRDM.L and HDEM.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

	JRDM.L	HDEM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.04	2.58	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.28	0.55	+1.74

Drawdowns

JRDM.L vs. HDEM.L - Drawdown Comparison

The maximum JRDM.L drawdown since its inception was -14.88%, smaller than the maximum HDEM.L drawdown of -32.18%. Use the drawdown chart below to compare losses from any high point for JRDM.L and HDEM.L.

Drawdown Indicators

	JRDM.L	HDEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.88%	-32.18%	+17.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-5.28%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.18%	—
Current Drawdown Current decline from peak	-0.84%	-3.22%	+2.38%
Average Drawdown Average peak-to-trough decline	-2.43%	-6.84%	+4.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.82%	+1.17%

Volatility

JRDM.L vs. HDEM.L - Volatility Comparison

JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRDM.L) has a higher volatility of 7.58% compared to Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L) at 2.92%. This indicates that JRDM.L's price experiences larger fluctuations and is considered to be riskier than HDEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRDM.L	HDEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.58%	2.92%	+4.66%
Volatility (6M) Calculated over the trailing 6-month period	14.31%	7.50%	+6.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	10.20%	+7.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	13.51%	+6.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	15.82%	+3.89%

JRDM.L vs. HDEM.L - Expense Ratio Comparison

JRDM.L has a 0.30% expense ratio, which is lower than HDEM.L's 0.49% expense ratio.

Dividends

JRDM.L vs. HDEM.L - Dividend Comparison

JRDM.L's dividend yield for the trailing twelve months is around 1.45%, less than HDEM.L's 4.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	4.84%	5.17%	5.62%	6.08%	8.93%	5.96%	4.31%	5.23%	5.37%	6.81%	2.78%
JRDM.L JPMorgan Global Emerging Markets Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	1.45%	1.94%	2.24%	1.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JRDM.L and HDEM.L in my portfolio?

JRDM.L and HDEM.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRDM.L or HDEM.L?

On fees, JRDM.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRDM.L or HDEM.L?

JRDM.L is cheaper with a 0.30% expense ratio, compared with 0.49% for HDEM.L.

What is the main difference between JRDM.L and HDEM.L?

Both ETFs track MSCI EM NR USD. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.30% for JRDM.L and 0.49% for HDEM.L.