AW1T.DE vs. XESD.DE

Last updated Jun 5, 2026

AW1T.DE (UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - AW1T.DE tracks the MSCI EMU Value while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 3 years, AW1T.DE returned 20.19%/yr vs 29.40%/yr for XESD.DE. Their correlation of 0.85 suggests significant overlap in exposure. AW1T.DE charges 0.25%/yr vs 0.30%/yr for XESD.DE.

Performance

AW1T.DE vs. XESD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc (AW1T.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AW1T.DE having a 7.24% return and XESD.DE slightly higher at 7.26%.

AW1T.DE

• 1D: 0.20%
• 1M: 0.50%
• YTD: 7.24%
• 6M: 10.78%
• 1Y: 21.10%
• 3Y*: 20.19%
• 5Y*: —
• 10Y*: —

XESD.DE

• 1D: 0.58%
• 1M: 1.30%
• YTD: 7.26%
• 6M: 11.75%
• 1Y: 34.69%
• 3Y*: 29.40%
• 5Y*: 18.89%
• 10Y*: —

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

AW1T.DE vs. XESD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AW1T.DE UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc	7.24%	37.16%	9.32%	18.73%	7.29%
XESD.DE Xtrackers Spanish Equity UCITS ETF	7.26%	58.73%	14.57%	26.73%	1.07%

Correlation

The correlation between AW1T.DE and XESD.DE is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022	0.85

The correlation between AW1T.DE and XESD.DE has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

AW1T.DE vs. XESD.DE — Risk / Return Rank

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

AW1T.DE

AW1T.DE Risk / Return Rank: 48
AW1T.DE Sharpe Ratio Rank: 48
AW1T.DE Sortino Ratio Rank: 47
AW1T.DE Omega Ratio Rank: 48
AW1T.DE Calmar Ratio Rank: 50
AW1T.DE Martin Ratio Rank: 49

XESD.DE

XESD.DE Risk / Return Rank: 65
XESD.DE Sharpe Ratio Rank: 64
XESD.DE Sortino Ratio Rank: 62
XESD.DE Omega Ratio Rank: 63
XESD.DE Calmar Ratio Rank: 70
XESD.DE Martin Ratio Rank: 66

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.

AW1T.DE vs. XESD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc (AW1T.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.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.

	AW1T.DE	XESD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.10	-0.45
Sortino ratio: Return per unit of downside risk	2.28	2.86	-0.58
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	2.42	3.46	-1.04
Martin ratio: Return relative to average drawdown	8.19	12.05	-3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AW1T.DE vs. XESD.DE - Sharpe Ratio Comparison

The current AW1T.DE Sharpe Ratio is 1.65, which is comparable to the XESD.DE Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of AW1T.DE and XESD.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

	AW1T.DE	XESD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.10	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.50	0.55	+0.95

Drawdowns

AW1T.DE vs. XESD.DE - Drawdown Comparison

The maximum AW1T.DE drawdown since its inception was -14.81%, smaller than the maximum XESD.DE drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for AW1T.DE and XESD.DE.

Drawdown Indicators

	AW1T.DE	XESD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-14.81%	-38.77%	+23.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-10.27%	+1.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-12.49%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.59%	—
Current Drawdown Current decline from peak	-1.45%	-0.56%	-0.89%
Average Drawdown Average peak-to-trough decline	-2.14%	-7.38%	+5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.96%	-0.33%

Volatility

AW1T.DE vs. XESD.DE - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc (AW1T.DE) is 3.45%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.46%. This indicates that AW1T.DE experiences smaller price fluctuations and is considered to be less risky than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AW1T.DE	XESD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	4.46%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	10.46%	14.06%	-3.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	16.93%	-3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	16.73%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.79%	18.81%	-5.02%

AW1T.DE vs. XESD.DE - Expense Ratio Comparison

AW1T.DE has a 0.25% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.

Dividends

AW1T.DE vs. XESD.DE - Dividend Comparison

AW1T.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AW1T.DE UBS ETF (LU) MSCI EMU Value UCITS ETF (EUR) Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XESD.DE Xtrackers Spanish Equity UCITS ETF	2.50%	2.43%	3.14%	2.57%	3.98%	1.51%	4.30%	3.35%	4.48%

Frequently Asked Questions

Can I hold both AW1T.DE and XESD.DE in my portfolio?

AW1T.DE and XESD.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AW1T.DE or XESD.DE?

On fees, AW1T.DE 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, AW1T.DE or XESD.DE?

AW1T.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for XESD.DE.

What is the main difference between AW1T.DE and XESD.DE?

AW1T.DE tracks MSCI EMU Value, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.25% for AW1T.DE and 0.30% for XESD.DE.