SBEM.L vs. JPBM.L
SBEM.L (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis) and JPBM.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from UBS and JPMorgan respectively. Both are passively managed. Over the past 5 years, SBEM.L returned 3.47%/yr vs 3.70%/yr for JPBM.L. Their correlation of 0.94 suggests significant overlap in exposure. SBEM.L charges 0.42%/yr vs 0.39%/yr for JPBM.L.
Performance
SBEM.L vs. JPBM.L - Performance Comparison
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Different Trading Currencies
SBEM.L is traded in GBp, while JPBM.L is traded in GBP. To make them comparable, the JPBM.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SBEM.L achieves a 2.48% return, which is significantly higher than JPBM.L's 2.24% return.
SBEM.L
- 1D
- 0.23%
- 1M
- 2.35%
- YTD
- 2.48%
- 6M
- 2.78%
- 1Y
- 14.55%
- 3Y*
- 8.68%
- 5Y*
- 3.47%
- 10Y*
- 4.55%
JPBM.L
- 1D
- 0.21%
- 1M
- 2.10%
- YTD
- 2.24%
- 6M
- 1.87%
- 1Y
- 13.22%
- 3Y*
- 6.20%
- 5Y*
- 3.70%
- 10Y*
- —
SBEM.L vs. JPBM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 2.48% | 7.42% | 9.46% | 5.94% | -10.24% | -1.29% | 1.28% | 10.91% | 7.12% |
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 2.24% | 6.76% | 4.67% | 4.36% | -5.01% | 0.35% | 3.05% | 16.46% | 7.13% |
Correlation
The correlation between SBEM.L and JPBM.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2018 | 0.94 |
The correlation between SBEM.L and JPBM.L has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
SBEM.L vs. JPBM.L — Risk / Return Rank
SBEM.L
JPBM.L
SBEM.L vs. JPBM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.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.
| SBEM.L | JPBM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.39 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 3.07 | +1.03 |
| Martin ratioReturn relative to average drawdown | 11.84 | 9.23 | +2.62 |
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
| SBEM.L | JPBM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.14 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.43 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.46 | +0.03 |
Drawdowns
SBEM.L vs. JPBM.L - Drawdown Comparison
The maximum SBEM.L drawdown since its inception was -21.61%, which is greater than JPBM.L's maximum drawdown of -19.74%. Use the drawdown chart below to compare losses from any high point for SBEM.L and JPBM.L.
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Drawdown Indicators
| SBEM.L | JPBM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -19.74% | -1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -4.28% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -9.79% | -8.37% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -17.20% | -13.03% | -4.17% |
Max Drawdown (10Y)Largest decline over 10 years | -21.61% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.26% | -4.69% | -2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.43% | -0.20% |
Volatility
SBEM.L vs. JPBM.L - Volatility Comparison
UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) have volatilities of 1.66% and 1.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBEM.L | JPBM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.62% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 4.50% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 6.15% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.85% | 8.67% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.88% | 10.21% | +0.67% |
SBEM.L vs. JPBM.L - Expense Ratio Comparison
SBEM.L has a 0.42% expense ratio, which is higher than JPBM.L's 0.39% expense ratio.
Dividends
SBEM.L vs. JPBM.L - Dividend Comparison
SBEM.L's dividend yield for the trailing twelve months is around 6.53%, less than JPBM.L's 6.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 6.86% | 7.14% | 6.80% | 6.27% | 6.59% | 5.57% | 5.57% | 5.84% | 5.28% | 0.00% | 0.00% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 6.53% | 7.69% | 6.28% | 6.49% | 5.72% | 4.35% | 4.92% | 4.83% | 4.47% | 4.84% | 2.27% |
Frequently Asked Questions
SBEM.L and JPBM.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPBM.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.L is cheaper with a 0.39% expense ratio, compared with 0.42% for SBEM.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.42% for SBEM.L and 0.39% for JPBM.L.
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