JRZE.L vs. CMB1.L
JRZE.L (JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)) and CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds - JRZE.L tracks the MSCI EMU NR EUR while CMB1.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 3 years, JRZE.L returned 16.96%/yr vs 29.18%/yr for CMB1.L. Their correlation of 0.87 suggests significant overlap in exposure. JRZE.L charges 0.25%/yr vs 0.33%/yr for CMB1.L.
Performance
JRZE.L vs. CMB1.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRZE.L achieves a 11.37% return, which is significantly lower than CMB1.L's 16.23% return.
JRZE.L
- 1D
- 0.00%
- 1M
- 3.05%
- YTD
- 11.37%
- 6M
- 11.97%
- 1Y
- 26.91%
- 3Y*
- 16.96%
- 5Y*
- —
- 10Y*
- —
CMB1.L
- 1D
- -0.64%
- 1M
- 3.37%
- YTD
- 16.23%
- 6M
- 16.86%
- 1Y
- 37.80%
- 3Y*
- 29.18%
- 5Y*
- 20.42%
- 10Y*
- 17.07%
JRZE.L vs. CMB1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) | 11.37% | 29.94% | 3.35% | 17.82% | -10.00% |
CMB1.L iShares FTSE MIB UCITS ETF (Acc) | 16.23% | 43.83% | 13.25% | 30.68% | 8.21% |
Correlation
The correlation between JRZE.L and CMB1.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022 | 0.87 |
The correlation between JRZE.L and CMB1.L has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
JRZE.L vs. CMB1.L — Risk / Return Rank
JRZE.L
CMB1.L
JRZE.L vs. CMB1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.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.
| JRZE.L | CMB1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.43 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.65 | -1.21 |
| Martin ratioReturn relative to average drawdown | 8.67 | 13.28 | -4.61 |
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Drawdowns
JRZE.L vs. CMB1.L - Drawdown Comparison
The maximum JRZE.L drawdown since its inception was -24.05%, smaller than the maximum CMB1.L drawdown of -56.05%. Use the drawdown chart below to compare losses from any high point for JRZE.L and CMB1.L.
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Drawdown Indicators
| JRZE.L | CMB1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.05% | -56.05% | +32.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -10.32% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -15.62% | +2.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.61% | — |
Current DrawdownCurrent decline from peak | -1.15% | -3.46% | +2.31% |
Average DrawdownAverage peak-to-trough decline | -5.24% | -15.20% | +9.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 2.84% | +0.27% |
Volatility
JRZE.L vs. CMB1.L - Volatility Comparison
The current volatility for JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) is 3.56%, while iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) has a volatility of 4.01%. This indicates that JRZE.L experiences smaller price fluctuations and is considered to be less risky than CMB1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRZE.L | CMB1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.56% | 4.01% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 12.06% | 12.42% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.51% | 15.08% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 18.00% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 20.11% | -2.65% |
JRZE.L vs. CMB1.L - Expense Ratio Comparison
JRZE.L has a 0.25% expense ratio, which is lower than CMB1.L's 0.33% expense ratio.
Dividends
JRZE.L vs. CMB1.L - Dividend Comparison
Neither JRZE.L nor CMB1.L has paid dividends to shareholders.
Frequently Asked Questions
JRZE.L and CMB1.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRZE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRZE.L is cheaper with a 0.25% expense ratio, compared with 0.33% for CMB1.L.
JRZE.L tracks MSCI EMU NR EUR, while CMB1.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRZE.L and 0.33% for CMB1.L.
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