VDET.L vs. JMBP.L
VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and JMBP.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)) are both Emerging Markets Bonds funds - VDET.L tracks the Bloomberg EM USD Sovereign + Quasi-Sov Index while JMBP.L tracks the JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). Both are passively managed. Over the past 5 years, VDET.L returned 2.30%/yr vs -0.29%/yr for JMBP.L. A 0.71 correlation means they provide meaningful diversification when combined. VDET.L charges 0.23%/yr vs 0.39%/yr for JMBP.L.
Performance
VDET.L vs. JMBP.L - Performance Comparison
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Different Trading Currencies
VDET.L is traded in USD, while JMBP.L is traded in GBP. To make them comparable, the JMBP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with VDET.L having a 1.31% return and JMBP.L slightly higher at 1.37%.
VDET.L
- 1D
- -0.02%
- 1M
- 0.71%
- YTD
- 1.31%
- 6M
- 1.85%
- 1Y
- 9.46%
- 3Y*
- 8.79%
- 5Y*
- 2.30%
- 10Y*
- —
JMBP.L
- 1D
- 0.29%
- 1M
- 0.14%
- YTD
- 1.37%
- 6M
- 2.74%
- 1Y
- 9.76%
- 3Y*
- 10.31%
- 5Y*
- -0.29%
- 10Y*
- —
VDET.L vs. JMBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.31% | 11.70% | 6.40% | 9.41% | -15.27% | -1.76% | 6.08% | 1.93% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 1.37% | 21.65% | -0.09% | 14.09% | -26.38% | -3.74% | 6.84% | 3.15% |
Correlation
The correlation between VDET.L and JMBP.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2019 | 0.71 |
The correlation between VDET.L and JMBP.L has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.
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Return for Risk
VDET.L vs. JMBP.L — Risk / Return Rank
VDET.L
JMBP.L
VDET.L vs. JMBP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.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.
| VDET.L | JMBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.18 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 1.26 | +1.38 |
| Martin ratioReturn relative to average drawdown | 10.75 | 4.12 | +6.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VDET.L | JMBP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 0.99 | +1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | -0.02 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.09 | +0.36 |
Drawdowns
VDET.L vs. JMBP.L - Drawdown Comparison
The maximum VDET.L drawdown since its inception was -24.09%, smaller than the maximum JMBP.L drawdown of -42.43%. Use the drawdown chart below to compare losses from any high point for VDET.L and JMBP.L.
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Drawdown Indicators
| VDET.L | JMBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.09% | -42.43% | +18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.56% | -7.69% | +4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.04% | -13.74% | +7.70% |
Max Drawdown (5Y)Largest decline over 5 years | -24.09% | -42.43% | +18.34% |
Current DrawdownCurrent decline from peak | -0.22% | -2.10% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -14.97% | +10.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 2.37% | -1.49% |
Volatility
VDET.L vs. JMBP.L - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) is 1.79%, while JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L) has a volatility of 3.16%. This indicates that VDET.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.
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Volatility by Period
| VDET.L | JMBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 3.16% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 7.50% | -3.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 9.85% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.17% | 14.21% | -7.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.70% | 16.24% | -8.54% |
VDET.L vs. JMBP.L - Expense Ratio Comparison
VDET.L has a 0.23% expense ratio, which is lower than JMBP.L's 0.39% expense ratio.
Dividends
VDET.L vs. JMBP.L - Dividend Comparison
VDET.L's dividend yield for the trailing twelve months is around 5.91%, more than JMBP.L's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 5.75% | 5.61% | 5.83% | 5.24% | 5.16% | 3.70% | 4.42% | 0.00% | 0.00% | 0.00% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.91% | 6.03% | 5.84% | 5.44% | 5.01% | 3.89% | 4.19% | 4.32% | 4.61% | 4.59% |
Frequently Asked Questions
VDET.L and JMBP.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDET.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDET.L is cheaper with a 0.23% expense ratio, compared with 0.39% for JMBP.L.
VDET.L tracks Bloomberg EM USD Sovereign + Quasi-Sov Index, while JMBP.L tracks JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.23% for VDET.L and 0.39% for JMBP.L.
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