36B1.DE vs. UEFS.DE
36B1.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) are both Emerging Markets Bonds funds - 36B1.DE tracks the JP Morgan ESG EMBI Global Diversified while UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. Both are passively managed. Over the past 5 years, 36B1.DE returned 2.20%/yr vs 3.30%/yr for UEFS.DE. Their correlation of 0.93 suggests significant overlap in exposure. 36B1.DE charges 0.45%/yr vs 0.25%/yr for UEFS.DE.
Performance
36B1.DE vs. UEFS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36B1.DE achieves a 2.43% return, which is significantly lower than UEFS.DE's 3.71% return.
36B1.DE
- 1D
- 0.13%
- 1M
- 1.40%
- YTD
- 2.43%
- 6M
- 1.88%
- 1Y
- 8.21%
- 3Y*
- 5.51%
- 5Y*
- 2.20%
- 10Y*
- —
UEFS.DE
- 1D
- -0.03%
- 1M
- 1.64%
- YTD
- 3.71%
- 6M
- 3.40%
- 1Y
- 11.85%
- 3Y*
- 8.56%
- 5Y*
- 3.30%
- 10Y*
- 3.55%
36B1.DE vs. UEFS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 2.43% | -0.10% | 10.86% | 5.55% | -13.71% | 6.46% | -4.35% | 11.07% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 3.71% | 2.37% | 13.84% | 8.28% | -14.67% | 5.66% | -4.70% | 9.42% |
Correlation
The correlation between 36B1.DE and UEFS.DE 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2019 | 0.93 |
The correlation between 36B1.DE and UEFS.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
36B1.DE vs. UEFS.DE — Risk / Return Rank
36B1.DE
UEFS.DE
36B1.DE vs. UEFS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.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.
| 36B1.DE | UEFS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 3.96 | -1.34 |
| Martin ratioReturn relative to average drawdown | 6.72 | 12.59 | -5.87 |
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
| 36B1.DE | UEFS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.98 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.38 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.44 | -0.22 |
Drawdowns
36B1.DE vs. UEFS.DE - Drawdown Comparison
The maximum 36B1.DE drawdown since its inception was -22.46%, smaller than the maximum UEFS.DE drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for 36B1.DE and UEFS.DE.
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Drawdown Indicators
| 36B1.DE | UEFS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -24.26% | +1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -2.87% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -13.70% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -17.84% | +1.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.26% | — |
Current DrawdownCurrent decline from peak | -1.33% | -0.03% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -7.41% | -1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.91% | +0.25% |
Volatility
36B1.DE vs. UEFS.DE - Volatility Comparison
iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) have volatilities of 1.21% and 1.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36B1.DE | UEFS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.27% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 3.77% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.87% | 5.76% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.41% | 8.69% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.55% | 9.37% | +0.18% |
36B1.DE vs. UEFS.DE - Expense Ratio Comparison
36B1.DE has a 0.45% expense ratio, which is higher than UEFS.DE's 0.25% expense ratio.
Dividends
36B1.DE vs. UEFS.DE - Dividend Comparison
36B1.DE's dividend yield for the trailing twelve months is around 4.93%, less than UEFS.DE's 6.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 4.93% | 5.22% | 4.96% | 5.09% | 5.00% | 4.57% | 3.40% | 4.19% | 0.00% | 0.00% | 0.00% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.50% | 7.96% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
With a correlation of 0.95, 36B1.DE and UEFS.DE 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.
On fees, UEFS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFS.DE is cheaper with a 0.25% expense ratio, compared with 0.45% for 36B1.DE.
36B1.DE tracks JP Morgan ESG EMBI Global Diversified, while UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. They also come from different issuers: iShares and UBS. Their fees differ too: 0.45% for 36B1.DE and 0.25% for UEFS.DE.
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