JPMorgan ActiveBuilders Emerging Markets… (JEMA) Performance
JEMA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.8% since Dec 31, 2025
- 1 year
- +20.8% total return
- 5 years
- +6.0% a year
- Since first price
- +5.0% a year since 2021
JEMA trailing returns vs SPY, QQQ, AGG
| Period | JEMA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.3% | −8.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.6% | −3.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.6% | +0.6% | +7.8% | +8.4% | −1.5% |
| YTD | +17.8% | +17.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +20.8% | +17.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +87.6%+23.3%/yr | +72.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +33.9%+6.0%/yr | +18.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMar 11, 2021 | +31.7%+5.0%/yr | +16.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: JEMA vs SPY
From Mar 11, 2021: JEMA grew to $13,170, SPY to $20,850.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
JEMA returns by calendar year
3 of 4 full years positive. Best 2025 (+34.9%), worst 2022 (−25.0%). 2026 is year to date.
JEMA annual returns table
| Year | JEMA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.8% | −14.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.9% | −15.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.7% | −9.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +9.8% | −13.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −25.0% | −35.4% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
JEMA largest drawdowns
Now 12.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 1, 2021 | −39.5% | Oct 24, 2022 | Sep 15, 2025 | 1.4 years | 4.3 years |
| Jun 22, 2026 | −14.6% | Jul 29, 2026 | not yet | 37 days | 4 months so far |
| Feb 25, 2026 | −13.1% | Mar 30, 2026 | Apr 17, 2026 | 33 days | 51 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
JEMA risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +24.9% | +8.2% | +6.8% |
| Volatility (annualized) | 15.8% | 18.2% | 17.7% |
| Sharpe ratio | 1.22 | 0.33 | 0.28 |
| Sortino ratio | 2.28 | 0.53 | 0.44 |
| Best month | +13.3% | +15.6% | +15.6% |
| Worst month | −8.8% | −10.8% | −10.8% |
| Best 12 months | +62.0% | +62.0% | +62.0% |
| Worst 12 months | +5.7% | −34.3% | −34.3% |
| Positive months | 72% | 57% | 58% |
| Beta vs S&P 500 | 0.81 | 0.77 | — |
| Correlation with S&P 500 | 0.64 | 0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
JEMA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 56 | −34.3% | +8.9% | +62.0% | 71% |
| 3-year (a year) | 32 | −7.8% | +8.7% | +25.4% | 62% |
| 5-year (a year) | 8 | +3.9% | +7.0% | +8.2% | 100% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
JEMA performance overview
JPMorgan ActiveBuilders Emerging Markets… (JEMA) returned +20.8% over the past year and +6.0% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned +5.0% a year, turning $10,000 into about $13,170. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −39.5%, from Jun 1, 2021 to Oct 24, 2022, and it took 2.9 years to get back to the old high. JEMA finished 3 of its 4 full calendar years with a gain; the best year was 2025 (+34.9%) and the worst 2022 (−25.0%). Volatility has been 17.7% a year.
Related: JEMA chart, JEMA holdings, JEMA dividends. See the JEMA overview for the latest quote and fund facts.
JEMA performance FAQ
What is the JEMA return over the past year?
JEMA returned +20.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 17.3%.
What is the average annual return of JEMA?
JEMA has returned +6.0% a year over 5 years, +5.0% a year since March 11, 2021 (total return, distributions reinvested).
How much would $10,000 invested in JEMA be worth?
$10,000 invested in JEMA at its first recorded close on March 11, 2021 would be worth about $13,170 on October 23, 2026 with distributions reinvested.
What was the worst year for JEMA?
The worst calendar year was 2022, with a total return of −25.0%. The best was 2025 at +34.9%.
What is the biggest drawdown of JEMA?
The largest peak-to-trough decline was −39.5% between June 1, 2021 and October 24, 2022. It recovered to the old high on September 15, 2025, 2.9 years after the bottom.
How volatile is JEMA?
Over the past 3 years JEMA had an annualized volatility of 15.8% and a Sharpe ratio of 1.22 (excess return over 1–3 month T-bills per unit of risk).