JRUP.L vs. HYEM.L

Last updated Jul 18, 2026

JRUP.L (JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both exchange-traded funds - JRUP.L is a Corporate Bonds fund actively managed by JPMorgan, while HYEM.L is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. JRUP.L is actively managed, while HYEM.L is passively managed. Over the past 3 years, JRUP.L returned 4.65%/yr vs 8.75%/yr for HYEM.L. At a correlation of -0.02, they often move in opposite directions. JRUP.L charges 0.19%/yr vs 0.40%/yr for HYEM.L.

Performance

JRUP.L vs. HYEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JRUP.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JRUP.L is traded in GBP, while HYEM.L is traded in USD. To make them comparable, the HYEM.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, JRUP.L achieves a -0.08% return, which is significantly lower than HYEM.L's 3.70% return.

JRUP.L

• 1D: -0.01%
• 1M: -0.77%
• 6M: -0.01%
• YTD: -0.08%
• 1Y: 4.38%
• 3Y*: 4.65%
• 5Y*: —
• 10Y*: —

HYEM.L

• 1D: 0.16%
• 1M: -1.50%
• 6M: 2.28%
• YTD: 3.70%
• 1Y: 7.64%
• 3Y*: 8.75%
• 5Y*: 3.24%
• 10Y*: —

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

JRUP.L vs. HYEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JRUP.L JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)	-0.08%	7.47%	2.11%	7.12%	-14.19%
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)	3.70%	1.22%	13.85%	2.19%	1.00%

Correlation

The correlation between JRUP.L and HYEM.L is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Jan 20, 2022	-0.02

Return for Risk

JRUP.L vs. HYEM.L — Risk / Return Rank

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

JRUP.L

JRUP.L Risk / Return Rank: 38
JRUP.L Sharpe Ratio Rank: 38
JRUP.L Sortino Ratio Rank: 37
JRUP.L Omega Ratio Rank: 36
JRUP.L Calmar Ratio Rank: 41
JRUP.L Martin Ratio Rank: 40

HYEM.L

HYEM.L Risk / Return Rank: 74
HYEM.L Sharpe Ratio Rank: 66
HYEM.L Sortino Ratio Rank: 75
HYEM.L Omega Ratio Rank: 82
HYEM.L Calmar Ratio Rank: 72
HYEM.L Martin Ratio Rank: 75

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.

JRUP.L vs. HYEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JRUP.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.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.

	JRUP.L	HYEM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.00	+0.06
Sortino ratio: Return per unit of downside risk	1.53	1.44	+0.09
Omega ratio: Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio: Return relative to maximum drawdown	1.58	1.87	-0.29
Martin ratio: Return relative to average drawdown	4.66	5.05	-0.39

JRUP.L vs. HYEM.L - Sharpe Ratio Comparison

The current JRUP.L Sharpe Ratio is 1.05, which is comparable to the HYEM.L Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of JRUP.L and HYEM.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

JRUP.L vs. HYEM.L - Drawdown Comparison

The maximum JRUP.L drawdown since its inception was -19.44%, which is greater than HYEM.L's maximum drawdown of -15.44%. Use the drawdown chart below to compare losses from any high point for JRUP.L and HYEM.L.

Drawdown Indicators

	JRUP.L	HYEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.44%	-15.44%	-4.00%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-4.06%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-6.20%	-9.01%	+2.81%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.20%	—
Current Drawdown Current decline from peak	-1.47%	-2.02%	+0.55%
Average Drawdown Average peak-to-trough decline	-7.59%	-3.64%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.51%	-0.49%

Volatility

JRUP.L vs. HYEM.L - Volatility Comparison

The current volatility for JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc) (JRUP.L) is 1.01%, while VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L) has a volatility of 1.87%. This indicates that JRUP.L experiences smaller price fluctuations and is considered to be less risky than HYEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRUP.L	HYEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	1.87%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	3.37%	5.88%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	7.63%	-3.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.81%	9.99%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.81%	10.09%	-2.28%

JRUP.L vs. HYEM.L - Expense Ratio Comparison

JRUP.L has a 0.19% expense ratio, which is lower than HYEM.L's 0.40% expense ratio.

Dividends

JRUP.L vs. HYEM.L - Dividend Comparison

Neither JRUP.L nor HYEM.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.09%
JRUP.L JPM USD IG Corporate Bond Active UCITS ETF GBP Hedged (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JRUP.L and HYEM.L in my portfolio?

JRUP.L and HYEM.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRUP.L or HYEM.L?

On fees, JRUP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRUP.L or HYEM.L?

JRUP.L is cheaper with a 0.19% expense ratio, compared with 0.40% for HYEM.L.

What is the main difference between JRUP.L and HYEM.L?

JRUP.L is categorized as Corporate Bonds, while HYEM.L is Emerging Markets Bonds. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.19% for JRUP.L and 0.40% for HYEM.L.