VGEM.DE vs. JPBM.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while JPBM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs 1.97%/yr for JPBM.DE. Their correlation of 0.89 suggests significant overlap in exposure. VGEM.DE charges 0.25%/yr vs 0.39%/yr for JPBM.DE.
Performance
VGEM.DE vs. JPBM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly lower than JPBM.DE's 2.71% return.
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
JPBM.DE
- 1D
- 0.15%
- 1M
- 1.65%
- YTD
- 2.71%
- 6M
- 1.99%
- 1Y
- 8.34%
- 3Y*
- 4.41%
- 5Y*
- 1.97%
- 10Y*
- —
VGEM.DE vs. JPBM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 15.57% | 5.14% |
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 2.71% | 0.17% | 7.28% | 5.27% | -10.98% | 4.83% | -4.56% | 20.72% | 1.99% |
Correlation
The correlation between VGEM.DE and JPBM.DE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2018 | 0.89 |
The correlation between VGEM.DE and JPBM.DE has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.
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Return for Risk
VGEM.DE vs. JPBM.DE — Risk / Return Rank
VGEM.DE
JPBM.DE
VGEM.DE vs. JPBM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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.
| VGEM.DE | JPBM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.66 | -0.50 |
| Martin ratioReturn relative to average drawdown | 5.71 | 7.31 | -1.61 |
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
| VGEM.DE | JPBM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.43 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.23 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.30 | -0.02 |
Drawdowns
VGEM.DE vs. JPBM.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum JPBM.DE drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and JPBM.DE.
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Drawdown Indicators
| VGEM.DE | JPBM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -25.97% | +6.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.12% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -12.56% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -14.31% | +1.85% |
Current DrawdownCurrent decline from peak | -2.18% | -2.60% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -8.34% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.14% | +0.03% |
Volatility
VGEM.DE vs. JPBM.DE - Volatility Comparison
Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a higher volatility of 1.18% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) at 1.12%. This indicates that VGEM.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
| VGEM.DE | JPBM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.12% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 3.98% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 5.81% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 8.51% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 9.71% | -0.94% |
VGEM.DE vs. JPBM.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is lower than JPBM.DE's 0.39% expense ratio.
Dividends
VGEM.DE vs. JPBM.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, which matches JPBM.DE's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.09% | 5.54% | 5.26% | 5.00% | 5.33% | 3.35% | 3.87% | 3.92% | 2.69% | 0.00% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
VGEM.DE and JPBM.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.39% for JPBM.DE.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while JPBM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.25% for VGEM.DE and 0.39% for JPBM.DE.
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