SPFD.DE vs. JMBA.DE
SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) and JMBA.DE (JPM USD Emerging Markets Sovereign Bond UCITS ETF) are both Emerging Markets Bonds funds - SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged) while JMBA.DE tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index. Both are passively managed. Over the past 5 years, SPFD.DE returned -1.32%/yr vs 1.93%/yr for JMBA.DE. At a 0.05 correlation, their price movements are largely independent. SPFD.DE charges 0.60%/yr vs 0.39%/yr for JMBA.DE.
Performance
SPFD.DE vs. JMBA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFD.DE achieves a -1.67% return, which is significantly lower than JMBA.DE's 4.34% return.
SPFD.DE
- 1D
- -0.29%
- 1M
- -1.28%
- 6M
- -1.60%
- YTD
- -1.67%
- 1Y
- 1.39%
- 3Y*
- 1.86%
- 5Y*
- -1.32%
- 10Y*
- —
JMBA.DE
- 1D
- 0.15%
- 1M
- 0.65%
- 6M
- 3.04%
- YTD
- 4.34%
- 1Y
- 10.59%
- 3Y*
- 6.42%
- 5Y*
- 1.93%
- 10Y*
- —
SPFD.DE vs. JMBA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.67% | 12.44% | -4.38% | 6.62% | -12.76% | -9.84% | 1.86% | 3.12% |
JMBA.DE JPM USD Emerging Markets Sovereign Bond UCITS ETF | 4.34% | 0.84% | 7.77% | 5.79% | -10.80% | 5.58% | -4.14% | -7.72% |
Correlation
The correlation between SPFD.DE and JMBA.DE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.05 |
The correlation between SPFD.DE and JMBA.DE shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPFD.DE vs. JMBA.DE — Risk / Return Rank
SPFD.DE
JMBA.DE
SPFD.DE vs. JMBA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) and JPM USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.DE). 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.
| SPFD.DE | JMBA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.34 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 3.35 | -3.15 |
| Martin ratioReturn relative to average drawdown | 0.52 | 10.21 | -9.69 |
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Drawdowns
SPFD.DE vs. JMBA.DE - Drawdown Comparison
The maximum SPFD.DE drawdown since its inception was -28.89%, which is greater than JMBA.DE's maximum drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for SPFD.DE and JMBA.DE.
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Drawdown Indicators
| SPFD.DE | JMBA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.89% | -26.66% | -2.23% |
Max Drawdown (1Y)Largest decline over 1 year | -6.69% | -3.14% | -3.55% |
Max Drawdown (3Y)Largest decline over 3 years | -8.98% | -12.45% | +3.47% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -14.09% | -11.36% |
Current DrawdownCurrent decline from peak | -11.63% | -1.39% | -10.24% |
Average DrawdownAverage peak-to-trough decline | -13.40% | -11.27% | -2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 1.04% | +1.62% |
Volatility
SPFD.DE vs. JMBA.DE - Volatility Comparison
State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) has a higher volatility of 1.65% compared to JPM USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.DE) at 1.13%. This indicates that SPFD.DE's price experiences larger fluctuations and is considered to be riskier than JMBA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFD.DE | JMBA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.13% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 6.80% | 4.03% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.47% | 5.96% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.99% | 8.43% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.38% | 10.70% | -2.32% |
SPFD.DE vs. JMBA.DE - Expense Ratio Comparison
SPFD.DE has a 0.60% expense ratio, which is higher than JMBA.DE's 0.39% expense ratio.
Dividends
SPFD.DE vs. JMBA.DE - Dividend Comparison
Neither SPFD.DE nor JMBA.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFD.DE and JMBA.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBA.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBA.DE is cheaper with a 0.39% expense ratio, compared with 0.60% for SPFD.DE.
SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged), while JMBA.DE tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.60% for SPFD.DE and 0.39% for JMBA.DE.
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