SEMB.L vs. JPBM.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) 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 iShares and JPMorgan respectively. Both are passively managed. Over the past 5 years, SEMB.L returned 3.08%/yr vs 2.65%/yr for JPBM.L. With a 0.96 correlation, they move nearly in lockstep. SEMB.L charges 0.45%/yr vs 0.39%/yr for JPBM.L.
Performance
SEMB.L vs. JPBM.L - Performance Comparison
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Different Trading Currencies
SEMB.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
The year-to-date returns for both stocks are quite close, with SEMB.L having a 4.47% return and JPBM.L slightly lower at 4.40%.
SEMB.L
- 1D
- 0.47%
- 1M
- 4.15%
- YTD
- 4.47%
- 6M
- 4.97%
- 1Y
- 14.50%
- 3Y*
- 8.16%
- 5Y*
- 3.08%
- 10Y*
- 3.72%
JPBM.L
- 1D
- 0.55%
- 1M
- 4.22%
- YTD
- 4.40%
- 6M
- 4.94%
- 1Y
- 14.39%
- 3Y*
- 6.58%
- 5Y*
- 2.65%
- 10Y*
- —
SEMB.L vs. JPBM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 4.47% | 5.97% | 7.45% | 4.49% | -8.67% | -1.06% | 1.93% | 12.26% | 7.32% |
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 4.40% | 5.64% | 3.59% | 3.47% | -6.16% | -1.16% | 1.79% | 14.95% | -23.49% |
Correlation
The correlation between SEMB.L and JPBM.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 | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018 | 0.96 |
The correlation between SEMB.L and JPBM.L has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. JPBM.L — Risk / Return Rank
SEMB.L
JPBM.L
SEMB.L vs. JPBM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.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.
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.
| SEMB.L | JPBM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 3.22 | +0.32 |
| Martin ratioReturn relative to average drawdown | 10.57 | 9.14 | +1.44 |
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Drawdowns
SEMB.L vs. JPBM.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -22.69%, smaller than the maximum JPBM.L drawdown of -30.26%. Use the drawdown chart below to compare losses from any high point for SEMB.L and JPBM.L.
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Drawdown Indicators
| SEMB.L | JPBM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -30.26% | +7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -4.45% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -8.64% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -14.43% | -13.66% | -0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -21.06% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.43% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -15.40% | +9.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.57% | -0.20% |
Volatility
SEMB.L vs. JPBM.L - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) has a higher volatility of 1.68% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.L) at 1.50%. This indicates that SEMB.L's price experiences larger fluctuations and is considered to be riskier than JPBM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEMB.L | JPBM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.50% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 4.55% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.18% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 8.64% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.35% | 14.00% | -3.65% |
SEMB.L vs. JPBM.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is higher than JPBM.L's 0.39% expense ratio.
Dividends
SEMB.L vs. JPBM.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 5.64%, which matches JPBM.L's 5.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPBM.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.68% | 6.11% | 5.75% | 5.44% | 5.36% | 4.05% | 4.34% | 4.56% | 3.99% | 0.00% | 0.00% | 0.00% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 5.64% | 5.97% | 5.70% | 5.78% | 5.41% | 3.88% | 4.11% | 4.88% | 4.63% | 5.03% | 5.07% | 4.63% |
Frequently Asked Questions
With a correlation of 0.91, SEMB.L and JPBM.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, 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 0.45% for SEMB.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.45% for SEMB.L and 0.39% for JPBM.L.
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