VWOB vs. JPMB
VWOB (Vanguard Emerging Markets Government Bond ETF) and JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) are both Emerging Markets Bonds funds - VWOB tracks the Barclays USD Emerging Markets Government RIC Capped Index while JPMB tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index. Both are passively managed. Over the past 5 years, VWOB returned 2.13%/yr vs 1.48%/yr for JPMB. Their correlation of 0.88 suggests significant overlap in exposure. VWOB charges 0.20%/yr vs 0.39%/yr for JPMB.
Performance
VWOB vs. JPMB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VWOB having a 1.79% return and JPMB slightly higher at 1.87%.
VWOB
- 1D
- 0.24%
- 1M
- 0.94%
- YTD
- 1.79%
- 6M
- 1.96%
- 1Y
- 10.67%
- 3Y*
- 9.30%
- 5Y*
- 2.13%
- 10Y*
- 3.53%
JPMB
- 1D
- 0.27%
- 1M
- 1.09%
- YTD
- 1.87%
- 6M
- 2.03%
- 1Y
- 11.24%
- 3Y*
- 7.90%
- 5Y*
- 1.48%
- 10Y*
- —
VWOB vs. JPMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VWOB Vanguard Emerging Markets Government Bond ETF | 1.79% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.48% |
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 1.87% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.72% |
Correlation
The correlation between VWOB and JPMB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018 | 0.88 |
The correlation between VWOB and JPMB has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
VWOB vs. JPMB — Risk / Return Rank
VWOB
JPMB
VWOB vs. JPMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) and JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB). 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.
| VWOB | JPMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.42 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.45 | -0.06 |
| Martin ratioReturn relative to average drawdown | 10.11 | 10.45 | -0.33 |
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
| VWOB | JPMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.14 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.17 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.28 | +0.14 |
Drawdowns
VWOB vs. JPMB - Drawdown Comparison
The maximum VWOB drawdown since its inception was -26.98%, roughly equal to the maximum JPMB drawdown of -26.33%. Use the drawdown chart below to compare losses from any high point for VWOB and JPMB.
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Drawdown Indicators
| VWOB | JPMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.98% | -26.33% | -0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -4.61% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.71% | -7.53% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -26.98% | -26.16% | -0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -26.98% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.11% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -7.06% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.08% | -0.02% |
Volatility
VWOB vs. JPMB - Volatility Comparison
The current volatility for Vanguard Emerging Markets Government Bond ETF (VWOB) is 1.69%, while JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) has a volatility of 1.87%. This indicates that VWOB experiences smaller price fluctuations and is considered to be less risky than JPMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWOB | JPMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.87% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 4.35% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 5.29% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.18% | 8.93% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 9.65% | -0.31% |
VWOB vs. JPMB - Expense Ratio Comparison
VWOB has a 0.20% expense ratio, which is lower than JPMB's 0.39% expense ratio.
Dividends
VWOB vs. JPMB - Dividend Comparison
VWOB's dividend yield for the trailing twelve months is around 5.83%, which matches JPMB's 5.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 5.78% | 6.71% | 6.32% | 5.99% | 4.94% | 4.29% | 4.29% | 4.51% | 4.58% | 0.00% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.83% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
With a correlation of 0.95, VWOB and JPMB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JPMB has higher volatility (1.87%) compared to VWOB (1.69%). In terms of maximum drawdown, VWOB dropped -26.98% vs JPMB's -26.33%.
On 5-year performance, VWOB leads with 2.13% vs 1.48% for JPMB. On fees, VWOB is cheaper at 0.20% per year. On volatility, VWOB has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VWOB has performed better with a 2.13% return vs 1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.20% expense ratio, compared with 0.39% for JPMB.
VWOB has the higher dividend yield at 5.83%, compared with 5.78% for JPMB.
VWOB tracks Barclays USD Emerging Markets Government RIC Capped Index, while JPMB tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.20% for VWOB and 0.39% for JPMB.
JPMB currently has the higher Sharpe Ratio (2.14 vs 2.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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