XUEM.L vs. JPEE.L

Last updated Jun 5, 2026

XUEM.L (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) and JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from Xtrackers and iShares respectively. Both are passively managed. Over the past 5 years, XUEM.L returned 1.90%/yr vs 1.94%/yr for JPEE.L. Their correlation of 0.81 suggests significant overlap in exposure. XUEM.L charges 0.25%/yr vs 0.45%/yr for JPEE.L.

Performance

XUEM.L vs. JPEE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XUEM.L is traded in USD, while JPEE.L is traded in EUR. To make them comparable, the JPEE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XUEM.L achieves a 2.60% return, which is significantly higher than JPEE.L's 1.77% return.

XUEM.L

• 1D: 0.16%
• 1M: 0.25%
• YTD: 2.60%
• 6M: 3.18%
• 1Y: 12.57%
• 3Y*: 10.25%
• 5Y*: 1.90%
• 10Y*: —

JPEE.L

• 1D: 0.21%
• 1M: 1.09%
• YTD: 1.77%
• 6M: 2.39%
• 1Y: 11.44%
• 3Y*: 9.76%
• 5Y*: 1.94%
• 10Y*: —

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

XUEM.L vs. JPEE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D	2.60%	13.58%	6.08%	10.88%	-19.42%	-2.38%	3.07%	15.18%	-0.93%
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)	1.75%	14.20%	5.65%	9.93%	-18.63%	-1.37%	5.06%	15.84%	-1.31%

Correlation

The correlation between XUEM.L and JPEE.L is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 23, 2018	0.81

The correlation between XUEM.L and JPEE.L shifts across timeframes, from 0.71 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

XUEM.L vs. JPEE.L — Risk / Return Rank

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

XUEM.L

XUEM.L Risk / Return Rank: 79
XUEM.L Sharpe Ratio Rank: 79
XUEM.L Sortino Ratio Rank: 89
XUEM.L Omega Ratio Rank: 84
XUEM.L Calmar Ratio Rank: 66
XUEM.L Martin Ratio Rank: 74

JPEE.L

JPEE.L Risk / Return Rank: 52
JPEE.L Sharpe Ratio Rank: 47
JPEE.L Sortino Ratio Rank: 50
JPEE.L Omega Ratio Rank: 49
JPEE.L Calmar Ratio Rank: 63
JPEE.L Martin Ratio Rank: 53

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.

XUEM.L vs. JPEE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.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.

	XUEM.L	JPEE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.94	+0.58
Sortino ratio: Return per unit of downside risk	4.01	2.85	+1.16
Omega ratio: Gain probability vs. loss probability	1.50	1.35	+0.14
Calmar ratio: Return relative to maximum drawdown	3.22	2.54	+0.67
Martin ratio: Return relative to average drawdown	13.78	10.41	+3.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUEM.L vs. JPEE.L - Sharpe Ratio Comparison

The current XUEM.L Sharpe Ratio is 2.52, which is comparable to the JPEE.L Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XUEM.L and JPEE.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.

Sharpe Ratios by Period

	XUEM.L	JPEE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.94	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.21	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.27	+0.02

Drawdowns

XUEM.L vs. JPEE.L - Drawdown Comparison

The maximum XUEM.L drawdown since its inception was -29.94%, which is greater than JPEE.L's maximum drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for XUEM.L and JPEE.L.

Drawdown Indicators

	XUEM.L	JPEE.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.94%	-28.48%	-1.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.88%	-4.48%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-8.08%	-7.19%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-28.48%	-1.46%
Current Drawdown Current decline from peak	-0.02%	-0.16%	+0.14%
Average Drawdown Average peak-to-trough decline	-7.83%	-7.15%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	1.10%	-0.19%

Volatility

XUEM.L vs. JPEE.L - Volatility Comparison

The current volatility for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.L) is 1.66%, while iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) has a volatility of 1.97%. This indicates that XUEM.L experiences smaller price fluctuations and is considered to be less risky than JPEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUEM.L	JPEE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.97%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	3.97%	4.31%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.97%	5.89%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.90%	9.21%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.84%	10.07%	+0.77%

XUEM.L vs. JPEE.L - Expense Ratio Comparison

XUEM.L has a 0.25% expense ratio, which is lower than JPEE.L's 0.45% expense ratio.

Dividends

XUEM.L vs. JPEE.L - Dividend Comparison

XUEM.L's dividend yield for the trailing twelve months is around 5.21%, while JPEE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D	5.21%	5.30%	6.79%	5.27%	5.92%	8.49%	4.18%	0.61%

Frequently Asked Questions

Can I hold both XUEM.L and JPEE.L in my portfolio?

XUEM.L and JPEE.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUEM.L or JPEE.L?

On fees, XUEM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUEM.L or JPEE.L?

XUEM.L is cheaper with a 0.25% expense ratio, compared with 0.45% for JPEE.L.

What is the main difference between XUEM.L and JPEE.L?

Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XUEM.L and 0.45% for JPEE.L.