UB20.L vs. JRCE.L

Last updated Jul 16, 2026

UB20.L (UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis) and JRCE.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) are both exchange-traded funds - UB20.L is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while JRCE.L is a China Equities fund tracking the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, UB20.L returned 11.71%/yr vs 10.66%/yr for JRCE.L. At a 0.39 correlation, their price movements are largely independent. UB20.L charges 0.30%/yr vs 0.40%/yr for JRCE.L.

Performance

UB20.L vs. JRCE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) and JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UB20.L achieves a 10.97% return, which is significantly lower than JRCE.L's 10,980.67% return.

UB20.L

• 1D: -0.24%
• 1M: 1.61%
• 6M: 9.07%
• YTD: 10.97%
• 1Y: 16.04%
• 3Y*: 11.71%
• 5Y*: 6.54%
• 10Y*: 7.32%

JRCE.L

• 1D: 0.00%
• 1M: -0.81%
• 6M: 7.77%
• YTD: 10,980.67%
• 1Y: 33.86%
• 3Y*: 10.66%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UB20.L vs. JRCE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	10.97%	12.00%	6.98%	-0.10%	6.64%
JRCE.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)	10,980.67%	-98.80%	11.38%	-17.74%	-9.39%

Correlation

The correlation between UB20.L and JRCE.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022	0.39

Return for Risk

UB20.L vs. JRCE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UB20.L

UB20.L Risk / Return Rank: 49
UB20.L Sharpe Ratio Rank: 49
UB20.L Sortino Ratio Rank: 52
UB20.L Omega Ratio Rank: 48
UB20.L Calmar Ratio Rank: 53
UB20.L Martin Ratio Rank: 45

JRCE.L

JRCE.L Risk / Return Rank: 47
JRCE.L Sharpe Ratio Rank: 9
JRCE.L Sortino Ratio Rank: 100
JRCE.L Omega Ratio Rank: 100
JRCE.L Calmar Ratio Rank: 14
JRCE.L Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UB20.L vs. JRCE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) and JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.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.

	UB20.L	JRCE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.00	+1.41
Sortino ratio: Return per unit of downside risk	2.11	263.38	-261.27
Omega ratio: Gain probability vs. loss probability	1.26	89.21	-87.96
Calmar ratio: Return relative to maximum drawdown	2.18	0.35	+1.84
Martin ratio: Return relative to average drawdown	6.04	0.79	+5.26

UB20.L vs. JRCE.L - Sharpe Ratio Comparison

The current UB20.L Sharpe Ratio is 1.42, which is higher than the JRCE.L Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of UB20.L and JRCE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UB20.L vs. JRCE.L - Drawdown Comparison

The maximum UB20.L drawdown since its inception was -32.34%, smaller than the maximum JRCE.L drawdown of -99.20%. Use the drawdown chart below to compare losses from any high point for UB20.L and JRCE.L.

Drawdown Indicators

	UB20.L	JRCE.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.34%	-99.20%	+66.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-99.05%	+91.73%
Max Drawdown (3Y) Largest decline over 3 years	-17.80%	-99.15%	+81.35%
Max Drawdown (5Y) Largest decline over 5 years	-17.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.34%	—	—
Current Drawdown Current decline from peak	-1.18%	-5.54%	+4.36%
Average Drawdown Average peak-to-trough decline	-6.49%	-21.05%	+14.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	43.27%	-40.62%

Volatility

UB20.L vs. JRCE.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) is 2.64%, while JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.L) has a volatility of 8.84%. This indicates that UB20.L experiences smaller price fluctuations and is considered to be less risky than JRCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UB20.L	JRCE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	8.84%	-6.20%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	654.26%	-645.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	25,991.69%	-25,980.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	12,496.69%	-12,482.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	12,496.69%	-12,480.96%

UB20.L vs. JRCE.L - Expense Ratio Comparison

UB20.L has a 0.30% expense ratio, which is lower than JRCE.L's 0.40% expense ratio.

Dividends

UB20.L vs. JRCE.L - Dividend Comparison

UB20.L's dividend yield for the trailing twelve months is around 2.87%, while JRCE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JRCE.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	2.87%	3.86%	3.26%	3.96%	3.66%	2.60%	3.05%	4.08%	4.33%	3.43%	4.00%	5.19%

Frequently Asked Questions

Can I hold both UB20.L and JRCE.L in my portfolio?

UB20.L and JRCE.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UB20.L or JRCE.L?

On fees, UB20.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UB20.L or JRCE.L?

UB20.L is cheaper with a 0.30% expense ratio, compared with 0.40% for JRCE.L.

What is the main difference between UB20.L and JRCE.L?

UB20.L is categorized as Asia Pacific Equities, while JRCE.L is China Equities. UB20.L tracks MSCI Pacific Ex Japan NR USD, while JRCE.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.30% for UB20.L and 0.40% for JRCE.L.