UBXX.L vs. JMBP.L

Last updated Jun 26, 2026

UBXX.L (UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis) and JMBP.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)) are both Emerging Markets Bonds funds - UBXX.L tracks the J.P. Morgan EMBI Global Diversified 1-5 Year Index while JMBP.L tracks the JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). Both are passively managed. Over the past 5 years, UBXX.L returned 2.42%/yr vs 0.81%/yr for JMBP.L. A 0.75 correlation means they provide meaningful diversification when combined. UBXX.L charges 0.47%/yr vs 0.39%/yr for JMBP.L.

Performance

UBXX.L vs. JMBP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UBXX.L is traded in GBp, while JMBP.L is traded in GBP. To make them comparable, the JMBP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, UBXX.L achieves a 2.27% return, which is significantly higher than JMBP.L's 2.12% return.

UBXX.L

• 1D: -0.06%
• 1M: 0.49%
• YTD: 2.27%
• 6M: 2.40%
• 1Y: 7.40%
• 3Y*: 8.00%
• 5Y*: 2.42%
• 10Y*: —

JMBP.L

• 1D: 0.47%
• 1M: 1.60%
• YTD: 2.12%
• 6M: 2.28%
• 1Y: 10.38%
• 3Y*: 7.50%
• 5Y*: 0.81%
• 10Y*: —

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

UBXX.L vs. JMBP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis	2.27%	9.71%	7.01%	7.14%	-11.07%	-0.10%	1.69%	1.49%
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)	2.12%	13.12%	1.60%	8.38%	-17.58%	-2.86%	3.67%	3.36%

Correlation

The correlation between UBXX.L and JMBP.L is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019	0.75

The correlation between UBXX.L and JMBP.L shifts across timeframes, from 0.57 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

UBXX.L vs. JMBP.L — Risk / Return Rank

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

UBXX.L

UBXX.L Risk / Return Rank: 89
UBXX.L Sharpe Ratio Rank: 88
UBXX.L Sortino Ratio Rank: 93
UBXX.L Omega Ratio Rank: 92
UBXX.L Calmar Ratio Rank: 81
UBXX.L Martin Ratio Rank: 89

JMBP.L

JMBP.L Risk / Return Rank: 63
JMBP.L Sharpe Ratio Rank: 63
JMBP.L Sortino Ratio Rank: 73
JMBP.L Omega Ratio Rank: 69
JMBP.L Calmar Ratio Rank: 51
JMBP.L Martin Ratio Rank: 61

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.

UBXX.L vs. JMBP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.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.

	UBXX.L	JMBP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.56	1.84	+0.72
Sortino ratio: Return per unit of downside risk	4.08	2.87	+1.20
Omega ratio: Gain probability vs. loss probability	1.54	1.36	+0.18
Calmar ratio: Return relative to maximum drawdown	3.81	2.24	+1.58
Martin ratio: Return relative to average drawdown	17.55	9.52	+8.03

UBXX.L vs. JMBP.L - Sharpe Ratio Comparison

The current UBXX.L Sharpe Ratio is 2.56, which is higher than the JMBP.L Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of UBXX.L and JMBP.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

UBXX.L vs. JMBP.L - Drawdown Comparison

The maximum UBXX.L drawdown since its inception was -16.83%, smaller than the maximum JMBP.L drawdown of -27.19%. Use the drawdown chart below to compare losses from any high point for UBXX.L and JMBP.L.

Drawdown Indicators

	UBXX.L	JMBP.L	Difference
Max Drawdown Largest peak-to-trough decline	-16.83%	-27.19%	+10.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.93%	-4.53%	+2.60%
Max Drawdown (3Y) Largest decline over 3 years	-2.59%	-7.61%	+5.02%
Max Drawdown (5Y) Largest decline over 5 years	-16.83%	-26.88%	+10.05%
Current Drawdown Current decline from peak	-0.19%	-0.11%	-0.08%
Average Drawdown Average peak-to-trough decline	-3.69%	-9.84%	+6.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	1.07%	-0.65%

Volatility

UBXX.L vs. JMBP.L - Volatility Comparison

The current volatility for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) is 0.70%, while JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L) has a volatility of 1.36%. This indicates that UBXX.L experiences smaller price fluctuations and is considered to be less risky than JMBP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBXX.L	JMBP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	1.36%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	4.58%	-2.23%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	5.51%	-2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.25%	8.49%	-4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	10.48%	-5.54%

UBXX.L vs. JMBP.L - Expense Ratio Comparison

UBXX.L has a 0.47% expense ratio, which is higher than JMBP.L's 0.39% expense ratio.

Dividends

UBXX.L vs. JMBP.L - Dividend Comparison

UBXX.L's dividend yield for the trailing twelve months is around 6.47%, more than JMBP.L's 5.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)	5.72%	5.61%	5.83%	5.24%	5.16%	3.70%	4.42%	0.00%	0.00%
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis	6.47%	25.71%	7.05%	4.76%	4.40%	3.91%	4.43%	6.18%	0.21%

Frequently Asked Questions

Can I hold both UBXX.L and JMBP.L in my portfolio?

UBXX.L and JMBP.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBXX.L or JMBP.L?

On fees, JMBP.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBXX.L or JMBP.L?

JMBP.L is cheaper with a 0.39% expense ratio, compared with 0.47% for UBXX.L.

What is the main difference between UBXX.L and JMBP.L?

UBXX.L tracks J.P. Morgan EMBI Global Diversified 1-5 Year Index, while JMBP.L tracks JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.47% for UBXX.L and 0.39% for JMBP.L.