JRZE.L vs. JREU.L
JRZE.L (JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)) and JREU.L (JPMorgan US Research Enhanced Index Equity UCITS ETF - USD (acc)) are both exchange-traded funds - JRZE.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while JREU.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 3 years, JRZE.L returned 15.69%/yr vs 18.54%/yr for JREU.L. A 0.57 correlation means they provide meaningful diversification when combined. JRZE.L charges 0.25%/yr vs 0.20%/yr for JREU.L.
Performance
JRZE.L vs. JREU.L - Performance Comparison
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Different Trading Currencies
JRZE.L is traded in GBp, while JREU.L is traded in USD. To make them comparable, the JREU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, JRZE.L achieves a 8.11% return, which is significantly lower than JREU.L's 9.96% return.
JRZE.L
- 1D
- 0.42%
- 1M
- 4.70%
- YTD
- 8.11%
- 6M
- 9.51%
- 1Y
- 21.36%
- 3Y*
- 15.69%
- 5Y*
- —
- 10Y*
- —
JREU.L
- 1D
- -0.04%
- 1M
- 4.79%
- YTD
- 9.96%
- 6M
- 9.74%
- 1Y
- 27.93%
- 3Y*
- 18.54%
- 5Y*
- 14.88%
- 10Y*
- —
JRZE.L vs. JREU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) | 8.11% | 29.94% | 3.35% | 17.82% | 5.89% |
JREU.L JPMorgan US Research Enhanced Index Equity UCITS ETF - USD (acc) | 9.96% | 8.01% | 27.31% | 21.94% | -2.78% |
Correlation
The correlation between JRZE.L and JREU.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 5, 2022 | 0.57 |
The correlation between JRZE.L and JREU.L has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
JRZE.L vs. JREU.L — Risk / Return Rank
JRZE.L
JREU.L
JRZE.L vs. JREU.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 JPMorgan US Research Enhanced Index Equity UCITS ETF - USD (acc) (JREU.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.
| JRZE.L | JREU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.43 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 4.03 | -2.11 |
| Martin ratioReturn relative to average drawdown | 6.73 | 14.26 | -7.52 |
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
| JRZE.L | JREU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.36 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.96 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.89 | -0.08 |
Drawdowns
JRZE.L vs. JREU.L - Drawdown Comparison
The maximum JRZE.L drawdown since its inception was -17.17%, smaller than the maximum JREU.L drawdown of -26.72%. Use the drawdown chart below to compare losses from any high point for JRZE.L and JREU.L.
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Drawdown Indicators
| JRZE.L | JREU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.17% | -26.72% | +9.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -6.90% | -4.19% |
Max Drawdown (3Y)Largest decline over 3 years | -17.17% | -21.60% | +4.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.60% | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.24% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -3.73% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.95% | +1.22% |
Volatility
JRZE.L vs. JREU.L - Volatility Comparison
JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) has a higher volatility of 4.64% compared to JPMorgan US Research Enhanced Index Equity UCITS ETF - USD (acc) (JREU.L) at 3.42%. This indicates that JRZE.L's price experiences larger fluctuations and is considered to be riskier than JREU.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 | JREU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 3.42% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.73% | 8.52% | +3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.37% | 11.80% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.13% | 15.53% | +3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | 17.40% | +1.73% |
JRZE.L vs. JREU.L - Expense Ratio Comparison
JRZE.L has a 0.25% expense ratio, which is higher than JREU.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JRZE.L vs. JREU.L - Dividend Comparison
Neither JRZE.L nor JREU.L has paid dividends to shareholders.
Frequently Asked Questions
JRZE.L and JREU.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JREU.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JREU.L is cheaper with a 0.20% expense ratio, compared with 0.25% for JRZE.L.
JRZE.L is categorized as Europe Equities, while JREU.L is Large Cap Blend Equities. JRZE.L tracks MSCI EMU NR EUR, while JREU.L tracks Russell 1000 TR USD. Their fees differ too: 0.25% for JRZE.L and 0.20% for JREU.L.
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