JREB.DE vs. COVR.DE

Last updated Jun 5, 2026

JREB.DE (JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF) and COVR.DE (PIMCO Covered Bond UCITS ETF Dist) are both European Corporate Bonds funds - JREB.DE tracks the JP Morgan EUR Corporate Bond Research Enhanced Index (ESG) while COVR.DE tracks the PIMCO Covered Bond. Both are passively managed. Over the past 5 years, JREB.DE returned 0.14%/yr vs -0.49%/yr for COVR.DE. A 0.72 correlation means they provide meaningful diversification when combined. JREB.DE charges 0.04%/yr vs 0.43%/yr for COVR.DE.

Performance

JREB.DE vs. COVR.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JREB.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JREB.DE achieves a 0.57% return, which is significantly higher than COVR.DE's -0.22% return.

JREB.DE

• 1D: 0.06%
• 1M: 0.26%
• YTD: 0.57%
• 6M: 0.53%
• 1Y: 2.34%
• 3Y*: 4.65%
• 5Y*: 0.14%
• 10Y*: —

COVR.DE

• 1D: -0.00%
• 1M: 0.10%
• YTD: -0.22%
• 6M: -0.38%
• 1Y: 0.96%
• 3Y*: 3.61%
• 5Y*: -0.49%
• 10Y*: 0.53%

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

JREB.DE vs. COVR.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JREB.DE JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF	0.57%	3.18%	4.24%	7.63%	-13.23%	-1.04%	2.29%	6.17%	0.12%
COVR.DE PIMCO Covered Bond UCITS ETF Dist	-0.22%	2.66%	3.80%	6.11%	-12.85%	-2.27%	3.03%	3.98%	0.10%

Correlation

The correlation between JREB.DE and COVR.DE is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 14, 2018	0.72

The correlation between JREB.DE and COVR.DE has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

Return for Risk

JREB.DE vs. COVR.DE — Risk / Return Rank

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

JREB.DE

JREB.DE Risk / Return Rank: 20
JREB.DE Sharpe Ratio Rank: 20
JREB.DE Sortino Ratio Rank: 19
JREB.DE Omega Ratio Rank: 20
JREB.DE Calmar Ratio Rank: 18
JREB.DE Martin Ratio Rank: 21

COVR.DE

COVR.DE Risk / Return Rank: 12
COVR.DE Sharpe Ratio Rank: 13
COVR.DE Sortino Ratio Rank: 11
COVR.DE Omega Ratio Rank: 12
COVR.DE Calmar Ratio Rank: 12
COVR.DE Martin Ratio Rank: 12

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.

JREB.DE vs. COVR.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JREB.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE). 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.

	JREB.DE	COVR.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.26	+0.37
Sortino ratio: Return per unit of downside risk	0.96	0.38	+0.58
Omega ratio: Gain probability vs. loss probability	1.13	1.05	+0.08
Calmar ratio: Return relative to maximum drawdown	0.71	0.23	+0.48
Martin ratio: Return relative to average drawdown	2.52	0.65	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JREB.DE vs. COVR.DE - Sharpe Ratio Comparison

The current JREB.DE Sharpe Ratio is 0.63, which is higher than the COVR.DE Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of JREB.DE and COVR.DE, 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

	JREB.DE	COVR.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	0.26	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	-0.13	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.21	+0.02

Drawdowns

JREB.DE vs. COVR.DE - Drawdown Comparison

The maximum JREB.DE drawdown since its inception was -17.22%, which is greater than COVR.DE's maximum drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for JREB.DE and COVR.DE.

Drawdown Indicators

	JREB.DE	COVR.DE	Difference
Max Drawdown Largest peak-to-trough decline	-17.22%	-16.36%	-0.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-2.85%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-2.83%	-2.85%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-17.22%	-15.69%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.36%	—
Current Drawdown Current decline from peak	-0.76%	-4.21%	+3.45%
Average Drawdown Average peak-to-trough decline	-5.02%	-4.10%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.00%	-0.20%

Volatility

JREB.DE vs. COVR.DE - Volatility Comparison

JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF (JREB.DE) has a higher volatility of 1.16% compared to PIMCO Covered Bond UCITS ETF Dist (COVR.DE) at 0.92%. This indicates that JREB.DE's price experiences larger fluctuations and is considered to be riskier than COVR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JREB.DE	COVR.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	0.92%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	2.11%	+0.74%
Volatility (1Y) Calculated over the trailing 1-year period	3.17%	2.48%	+0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	3.77%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	2.98%	+1.98%

JREB.DE vs. COVR.DE - Expense Ratio Comparison

JREB.DE has a 0.04% expense ratio, which is lower than COVR.DE's 0.43% expense ratio.

Dividends

JREB.DE vs. COVR.DE - Dividend Comparison

JREB.DE has not paid dividends to shareholders, while COVR.DE's dividend yield for the trailing twelve months is around 2.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COVR.DE PIMCO Covered Bond UCITS ETF Dist	2.49%	2.43%	1.66%	0.56%	0.00%	0.00%	0.42%	1.20%	0.78%	0.57%	0.74%	0.86%
JREB.DE JPMorgan EUR Corporate Bond Research Enhanced Index (ESG) UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JREB.DE and COVR.DE in my portfolio?

JREB.DE and COVR.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JREB.DE or COVR.DE?

On fees, JREB.DE 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, JREB.DE or COVR.DE?

JREB.DE is cheaper with a 0.04% expense ratio, compared with 0.43% for COVR.DE.

What is the main difference between JREB.DE and COVR.DE?

JREB.DE tracks JP Morgan EUR Corporate Bond Research Enhanced Index (ESG), while COVR.DE tracks PIMCO Covered Bond. They also come from different issuers: JPMorgan and PIMCO. Their fees differ too: 0.04% for JREB.DE and 0.43% for COVR.DE.