AXQE.DE vs. 84X0.DE
AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) and 84X0.DE (iShares MSCI EM ex-China UCITS ETF USD Acc) are both Emerging Markets Equities funds - AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged) while 84X0.DE tracks the MSCI Emerging Markets ex China Index (Net). Both are passively managed. Over the past year, AXQE.DE returned 68.61% vs 68.88% for 84X0.DE. Their correlation of 0.83 suggests significant overlap in exposure. AXQE.DE charges 0.30%/yr vs 0.18%/yr for 84X0.DE.
Performance
AXQE.DE vs. 84X0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AXQE.DE achieves a 37.94% return, which is significantly lower than 84X0.DE's 40.37% return.
AXQE.DE
- 1D
- -0.91%
- 1M
- 6.45%
- YTD
- 37.94%
- 6M
- 42.42%
- 1Y
- 68.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
84X0.DE
- 1D
- -1.73%
- 1M
- 8.33%
- YTD
- 40.37%
- 6M
- 44.02%
- 1Y
- 68.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AXQE.DE vs. 84X0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 37.94% | 28.56% |
84X0.DE iShares MSCI EM ex-China UCITS ETF USD Acc | 40.37% | 17.06% |
Correlation
The correlation between AXQE.DE and 84X0.DE is 0.85, 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 | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | 0.83 |
The correlation between AXQE.DE and 84X0.DE has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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Return for Risk
AXQE.DE vs. 84X0.DE — Risk / Return Rank
AXQE.DE
84X0.DE
AXQE.DE vs. 84X0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) and iShares MSCI EM ex-China UCITS ETF USD Acc (84X0.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.
| AXQE.DE | 84X0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.64 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 5.88 | -2.40 |
| Martin ratioReturn relative to average drawdown | 14.04 | 21.92 | -7.88 |
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
| AXQE.DE | 84X0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 3.52 | -1.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.81 | 1.77 | +0.04 |
Drawdowns
AXQE.DE vs. 84X0.DE - Drawdown Comparison
The maximum AXQE.DE drawdown since its inception was -19.63%, roughly equal to the maximum 84X0.DE drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for AXQE.DE and 84X0.DE.
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Drawdown Indicators
| AXQE.DE | 84X0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.63% | -19.72% | +0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -19.63% | -11.66% | -7.97% |
Current DrawdownCurrent decline from peak | -2.54% | -2.49% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -2.70% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 3.13% | +1.74% |
Volatility
AXQE.DE vs. 84X0.DE - Volatility Comparison
AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a higher volatility of 9.35% compared to iShares MSCI EM ex-China UCITS ETF USD Acc (84X0.DE) at 8.41%. This indicates that AXQE.DE's price experiences larger fluctuations and is considered to be riskier than 84X0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AXQE.DE | 84X0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.35% | 8.41% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 30.41% | 16.93% | +13.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.57% | 19.46% | +13.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.53% | 17.11% | +13.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.53% | 17.11% | +13.42% |
AXQE.DE vs. 84X0.DE - Expense Ratio Comparison
AXQE.DE has a 0.30% expense ratio, which is higher than 84X0.DE's 0.18% expense ratio.
Dividends
AXQE.DE vs. 84X0.DE - Dividend Comparison
Neither AXQE.DE nor 84X0.DE has paid dividends to shareholders.
Frequently Asked Questions
AXQE.DE and 84X0.DE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 84X0.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
84X0.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for AXQE.DE.
AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged), while 84X0.DE tracks MSCI Emerging Markets ex China Index (Net). They also come from different issuers: AXA IM and iShares. Their fees differ too: 0.30% for AXQE.DE and 0.18% for 84X0.DE.
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