JREM.L vs. EXCS.L
JREM.L (JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF USD (acc)) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both Emerging Markets Equities funds. JREM.L is actively managed, while EXCS.L is passively managed. Over the past 3 years, JREM.L returned 22.42%/yr vs 25.86%/yr for EXCS.L. Their correlation of 0.83 suggests significant overlap in exposure. JREM.L charges 0.30%/yr vs 0.18%/yr for EXCS.L.
Performance
JREM.L vs. EXCS.L - Performance Comparison
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Different Trading Currencies
JREM.L is traded in USD, while EXCS.L is traded in GBP. To make them comparable, the EXCS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JREM.L achieves a 23.23% return, which is significantly lower than EXCS.L's 31.19% return.
JREM.L
- 1D
- -4.56%
- 1M
- -1.80%
- YTD
- 23.23%
- 6M
- 25.25%
- 1Y
- 48.04%
- 3Y*
- 22.42%
- 5Y*
- 6.29%
- 10Y*
- —
EXCS.L
- 1D
- -5.15%
- 1M
- -0.77%
- YTD
- 31.19%
- 6M
- 35.05%
- 1Y
- 61.06%
- 3Y*
- 25.86%
- 5Y*
- —
- 10Y*
- —
JREM.L vs. EXCS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JREM.L JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF USD (acc) | 23.23% | 34.67% | 6.61% | 8.00% | -21.37% | -1.48% |
EXCS.L iShares MSCI EM ex-China UCITS ETF USD (Acc) | 31.19% | 35.75% | 3.67% | 16.90% | -18.20% | -24.55% |
Correlation
The correlation between JREM.L and EXCS.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2021 | 0.83 |
The correlation between JREM.L and EXCS.L has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
JREM.L vs. EXCS.L — Risk / Return Rank
JREM.L
EXCS.L
JREM.L vs. EXCS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREM.L) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.
| JREM.L | EXCS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.50 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 4.34 | -0.51 |
| Martin ratioReturn relative to average drawdown | 13.66 | 16.37 | -2.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JREM.L | EXCS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.82 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.25 | +0.23 |
Drawdowns
JREM.L vs. EXCS.L - Drawdown Comparison
The maximum JREM.L drawdown since its inception was -41.84%, smaller than the maximum EXCS.L drawdown of -44.14%. Use the drawdown chart below to compare losses from any high point for JREM.L and EXCS.L.
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Drawdown Indicators
| JREM.L | EXCS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.84% | -44.14% | +2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.50% | -14.02% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -19.69% | +3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -38.66% | — | — |
Current DrawdownCurrent decline from peak | -7.07% | -7.77% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -24.43% | +9.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.72% | -0.21% |
Volatility
JREM.L vs. EXCS.L - Volatility Comparison
The current volatility for JPMorgan Global Emerging Markets Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREM.L) is 9.75%, while iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a volatility of 10.51%. This indicates that JREM.L experiences smaller price fluctuations and is considered to be less risky than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREM.L | EXCS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.75% | 10.51% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 18.10% | 19.09% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.64% | 21.58% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 25.83% | -6.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.55% | 25.83% | -5.28% |
JREM.L vs. EXCS.L - Expense Ratio Comparison
JREM.L has a 0.30% expense ratio, which is higher than EXCS.L's 0.18% expense ratio.
Dividends
JREM.L vs. EXCS.L - Dividend Comparison
Neither JREM.L nor EXCS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, JREM.L and EXCS.L 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.
On fees, EXCS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXCS.L is cheaper with a 0.18% expense ratio, compared with 0.30% for JREM.L.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.30% for JREM.L and 0.18% for EXCS.L.
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