SPFD.DE vs. JPBM.DE
SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) and JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) are both Emerging Markets Bonds funds - SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged) while JPBM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, SPFD.DE returned -1.55%/yr vs 2.50%/yr for JPBM.DE. At a 0.04 correlation, their price movements are largely independent. SPFD.DE charges 0.60%/yr vs 0.39%/yr for JPBM.DE.
Performance
SPFD.DE vs. JPBM.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 JPBM.DE's 5.47% return.
SPFD.DE
- 1D
- 0.51%
- 1M
- 0.04%
- YTD
- -1.67%
- 6M
- -1.18%
- 1Y
- 1.50%
- 3Y*
- 2.75%
- 5Y*
- -1.55%
- 10Y*
- —
JPBM.DE
- 1D
- -0.43%
- 1M
- 3.61%
- YTD
- 5.47%
- 6M
- 5.74%
- 1Y
- 12.80%
- 3Y*
- 6.13%
- 5Y*
- 2.50%
- 10Y*
- —
SPFD.DE vs. JPBM.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% | 2.40% |
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.47% | 0.87% | 7.74% | 5.71% | -10.77% | 5.50% | -4.06% | 0.44% |
Correlation
The correlation between SPFD.DE and JPBM.DE is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2019 | 0.04 |
The correlation between SPFD.DE and JPBM.DE shifts across timeframes, from -0.11 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPFD.DE vs. JPBM.DE — Risk / Return Rank
SPFD.DE
JPBM.DE
SPFD.DE vs. JPBM.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 JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.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 | JPBM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.41 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 4.16 | -3.93 |
| Martin ratioReturn relative to average drawdown | 0.61 | 12.20 | -11.59 |
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Drawdowns
SPFD.DE vs. JPBM.DE - Drawdown Comparison
The maximum SPFD.DE drawdown since its inception was -28.89%, which is greater than JPBM.DE's maximum drawdown of -25.94%. Use the drawdown chart below to compare losses from any high point for SPFD.DE and JPBM.DE.
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Drawdown Indicators
| SPFD.DE | JPBM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.89% | -25.94% | -2.95% |
Max Drawdown (1Y)Largest decline over 1 year | -6.69% | -3.07% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.26% | -12.49% | +3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -25.58% | -14.10% | -11.48% |
Current DrawdownCurrent decline from peak | -11.63% | -0.43% | -11.20% |
Average DrawdownAverage peak-to-trough decline | -13.42% | -9.28% | -4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.05% | +1.41% |
Volatility
SPFD.DE vs. JPBM.DE - Volatility Comparison
State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) has a higher volatility of 2.50% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) at 1.55%. This indicates that SPFD.DE's price experiences larger fluctuations and is considered to be riskier than JPBM.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 | JPBM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 1.55% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.71% | 4.13% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.44% | 5.93% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.99% | 8.49% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 14.89% | -6.48% |
SPFD.DE vs. JPBM.DE - Expense Ratio Comparison
SPFD.DE has a 0.60% expense ratio, which is higher than JPBM.DE's 0.39% expense ratio.
Dividends
SPFD.DE vs. JPBM.DE - Dividend Comparison
SPFD.DE has not paid dividends to shareholders, while JPBM.DE's dividend yield for the trailing twelve months is around 5.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.66% | 6.24% | 5.67% | 5.42% | 5.58% | 3.96% | 4.40% | 4.40% | 4.04% |
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPFD.DE and JPBM.DE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPBM.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.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 JPBM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: State Street and JPMorgan. Their fees differ too: 0.60% for SPFD.DE and 0.39% for JPBM.DE.
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