VEMA.L vs. JPEA.L
VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) and JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - VEMA.L tracks the JPM EMBI Global Diversified TR USD while JPEA.L tracks the J.P. Morgan EMBI Global Core Index. Both are passively managed. Over the past 5 years, VEMA.L returned 3.45%/yr vs 3.06%/yr for JPEA.L. A 0.78 correlation means they provide meaningful diversification when combined. VEMA.L charges 0.25%/yr vs 0.45%/yr for JPEA.L.
Performance
VEMA.L vs. JPEA.L - Performance Comparison
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Different Trading Currencies
VEMA.L is traded in GBP, while JPEA.L is traded in USD. To make them comparable, the JPEA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEMA.L achieves a 1.66% return, which is significantly lower than JPEA.L's 2.25% return.
VEMA.L
- 1D
- 0.22%
- 1M
- 1.94%
- YTD
- 1.66%
- 6M
- 1.43%
- 1Y
- 10.75%
- 3Y*
- 6.06%
- 5Y*
- 3.45%
- 10Y*
- —
JPEA.L
- 1D
- 0.26%
- 1M
- 2.00%
- YTD
- 2.25%
- 6M
- 1.66%
- 1Y
- 12.51%
- 3Y*
- 7.07%
- 5Y*
- 3.06%
- 10Y*
- —
VEMA.L vs. JPEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 1.66% | 4.15% | 8.11% | 3.45% | -5.29% | -0.35% | 2.49% | 8.03% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 2.25% | 5.66% | 7.56% | 5.35% | -8.87% | -1.27% | 2.28% | 8.70% |
Correlation
The correlation between VEMA.L and JPEA.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.78 |
The correlation between VEMA.L and JPEA.L has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
VEMA.L vs. JPEA.L — Risk / Return Rank
VEMA.L
JPEA.L
VEMA.L vs. JPEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) and iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.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.
| VEMA.L | JPEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.77 | -0.33 |
| Martin ratioReturn relative to average drawdown | 6.67 | 8.06 | -1.39 |
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
| VEMA.L | JPEA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 1.75 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.32 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.20 | +0.11 |
Drawdowns
VEMA.L vs. JPEA.L - Drawdown Comparison
The maximum VEMA.L drawdown since its inception was -14.59%, smaller than the maximum JPEA.L drawdown of -21.10%. Use the drawdown chart below to compare losses from any high point for VEMA.L and JPEA.L.
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Drawdown Indicators
| VEMA.L | JPEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.59% | -21.10% | +6.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -4.49% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.38% | -9.34% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -14.61% | +3.20% |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -7.35% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.55% | +0.06% |
Volatility
VEMA.L vs. JPEA.L - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) is 1.47%, while iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) has a volatility of 2.39%. This indicates that VEMA.L experiences smaller price fluctuations and is considered to be less risky than JPEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMA.L | JPEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 2.39% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 5.76% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 7.13% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.14% | 9.51% | -1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.49% | 11.11% | -1.62% |
VEMA.L vs. JPEA.L - Expense Ratio Comparison
VEMA.L has a 0.25% expense ratio, which is lower than JPEA.L's 0.45% expense ratio.
Dividends
VEMA.L vs. JPEA.L - Dividend Comparison
Neither VEMA.L nor JPEA.L has paid dividends to shareholders.
Frequently Asked Questions
VEMA.L and JPEA.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.45% for JPEA.L.
VEMA.L tracks JPM EMBI Global Diversified TR USD, while JPEA.L tracks J.P. Morgan EMBI Global Core Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEMA.L and 0.45% for JPEA.L.
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