AW12.DE vs. XSOE.DE

Last updated Jun 5, 2026

AW12.DE (UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc) and XSOE.DE (WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF) are both Emerging Markets Equities funds - AW12.DE tracks the MSCI Emerging Markets Climate Paris Aligned while XSOE.DE tracks the WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened. Both are passively managed. Over the past 3 years, AW12.DE returned 18.73%/yr vs 18.45%/yr for XSOE.DE. Their correlation of 0.92 suggests significant overlap in exposure. AW12.DE charges 0.16%/yr vs 0.32%/yr for XSOE.DE.

Performance

AW12.DE vs. XSOE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.DE) and WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF (XSOE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AW12.DE having a 24.98% return and XSOE.DE slightly lower at 24.59%.

AW12.DE

• 1D: -1.17%
• 1M: 4.69%
• YTD: 24.98%
• 6M: 27.25%
• 1Y: 46.00%
• 3Y*: 18.73%
• 5Y*: —
• 10Y*: —

XSOE.DE

• 1D: -1.43%
• 1M: 6.23%
• YTD: 24.59%
• 6M: 26.89%
• 1Y: 47.18%
• 3Y*: 18.45%
• 5Y*: —
• 10Y*: —

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

AW12.DE vs. XSOE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AW12.DE UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc	24.98%	18.87%	12.31%	3.30%	-15.75%	2.79%
XSOE.DE WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF	24.59%	16.93%	10.26%	6.05%	-19.00%	3.24%

Correlation

The correlation between AW12.DE and XSOE.DE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 24, 2021	0.92

The correlation between AW12.DE and XSOE.DE has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

AW12.DE vs. XSOE.DE — Risk / Return Rank

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

AW12.DE

AW12.DE Risk / Return Rank: 80
AW12.DE Sharpe Ratio Rank: 79
AW12.DE Sortino Ratio Rank: 77
AW12.DE Omega Ratio Rank: 79
AW12.DE Calmar Ratio Rank: 85
AW12.DE Martin Ratio Rank: 82

XSOE.DE

XSOE.DE Risk / Return Rank: 81
XSOE.DE Sharpe Ratio Rank: 81
XSOE.DE Sortino Ratio Rank: 79
XSOE.DE Omega Ratio Rank: 80
XSOE.DE Calmar Ratio Rank: 83
XSOE.DE Martin Ratio Rank: 82

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.

AW12.DE vs. XSOE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.DE) and WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF (XSOE.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.

	AW12.DE	XSOE.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.60	-0.07
Sortino ratio: Return per unit of downside risk	3.40	3.50	-0.11
Omega ratio: Gain probability vs. loss probability	1.46	1.47	-0.01
Calmar ratio: Return relative to maximum drawdown	4.61	4.33	+0.28
Martin ratio: Return relative to average drawdown	16.28	15.99	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AW12.DE vs. XSOE.DE - Sharpe Ratio Comparison

The current AW12.DE Sharpe Ratio is 2.52, which is comparable to the XSOE.DE Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of AW12.DE and XSOE.DE, 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

	AW12.DE	XSOE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.60	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.44	-0.01

Drawdowns

AW12.DE vs. XSOE.DE - Drawdown Comparison

The maximum AW12.DE drawdown since its inception was -24.09%, smaller than the maximum XSOE.DE drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for AW12.DE and XSOE.DE.

Drawdown Indicators

	AW12.DE	XSOE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.09%	-27.69%	+3.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.94%	-10.85%	+0.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-19.83%	+0.90%
Current Drawdown Current decline from peak	-2.26%	-2.39%	+0.13%
Average Drawdown Average peak-to-trough decline	-9.89%	-12.90%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.94%	-0.12%

Volatility

AW12.DE vs. XSOE.DE - Volatility Comparison

UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.DE) and WisdomTree Emerging Markets ex-State-Owned Enterprises UCITS ETF (XSOE.DE) have volatilities of 7.44% and 7.20%, 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.

Volatility by Period

	AW12.DE	XSOE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	7.20%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	14.88%	15.05%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	18.10%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.92%	17.27%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	17.27%	+0.65%

AW12.DE vs. XSOE.DE - Expense Ratio Comparison

AW12.DE has a 0.16% expense ratio, which is lower than XSOE.DE's 0.32% expense ratio.

Dividends

AW12.DE vs. XSOE.DE - Dividend Comparison

Neither AW12.DE nor XSOE.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AW12.DE and XSOE.DE in my portfolio?

With a correlation of 0.92, AW12.DE and XSOE.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.

Which ETF is better, AW12.DE or XSOE.DE?

On fees, AW12.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AW12.DE or XSOE.DE?

AW12.DE is cheaper with a 0.16% expense ratio, compared with 0.32% for XSOE.DE.

What is the main difference between AW12.DE and XSOE.DE?

AW12.DE tracks MSCI Emerging Markets Climate Paris Aligned, while XSOE.DE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises ESG Screened. They also come from different issuers: UBS and WisdomTree. Their fees differ too: 0.16% for AW12.DE and 0.32% for XSOE.DE.