AXQE.DE vs. AXQT.DE

Last updated Jun 5, 2026

AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) and AXQT.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc) are both Emerging Markets Equities funds from AXA IM - AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged) while AXQT.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned. Both are passively managed. Over the past year, AXQE.DE returned 67.78% vs 68.47% for AXQT.DE. Their correlation of 0.88 suggests significant overlap in exposure. AXQE.DE charges 0.30%/yr vs 0.27%/yr for AXQT.DE.

Performance

AXQE.DE vs. AXQT.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXQE.DE achieves a 37.94% return, which is significantly lower than AXQT.DE's 40.98% return.

AXQE.DE

• 1D: -0.91%
• 1M: 3.62%
• YTD: 37.94%
• 6M: 41.71%
• 1Y: 67.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AXQT.DE

• 1D: -0.87%
• 1M: 4.85%
• YTD: 40.98%
• 6M: 43.57%
• 1Y: 68.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AXQE.DE vs. AXQT.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%
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc	40.98%	16.13%

Correlation

The correlation between AXQE.DE and AXQT.DE is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	0.88

The correlation between AXQE.DE and AXQT.DE has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

AXQE.DE vs. AXQT.DE — Risk / Return Rank

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

AXQE.DE

AXQE.DE Risk / Return Rank: 71
AXQE.DE Sharpe Ratio Rank: 64
AXQE.DE Sortino Ratio Rank: 62
AXQE.DE Omega Ratio Rank: 85
AXQE.DE Calmar Ratio Rank: 71
AXQE.DE Martin Ratio Rank: 75

AXQT.DE

AXQT.DE Risk / Return Rank: 93
AXQT.DE Sharpe Ratio Rank: 94
AXQT.DE Sortino Ratio Rank: 92
AXQT.DE Omega Ratio Rank: 93
AXQT.DE Calmar Ratio Rank: 92
AXQT.DE Martin Ratio Rank: 91

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.

AXQE.DE vs. AXQT.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 AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.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	AXQT.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.10	3.62	-1.52
Sortino ratio: Return per unit of downside risk	2.85	4.47	-1.62
Omega ratio: Gain probability vs. loss probability	1.51	1.64	-0.13
Calmar ratio: Return relative to maximum drawdown	3.48	6.01	-2.53
Martin ratio: Return relative to average drawdown	14.04	22.04	-8.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AXQE.DE vs. AXQT.DE - Sharpe Ratio Comparison

The current AXQE.DE Sharpe Ratio is 2.10, which is lower than the AXQT.DE Sharpe Ratio of 3.62. The chart below compares the historical Sharpe Ratios of AXQE.DE and AXQT.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

	AXQE.DE	AXQT.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	3.62	-1.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.81	2.20	-0.40

Drawdowns

AXQE.DE vs. AXQT.DE - Drawdown Comparison

The maximum AXQE.DE drawdown since its inception was -19.63%, which is greater than AXQT.DE's maximum drawdown of -18.65%. Use the drawdown chart below to compare losses from any high point for AXQE.DE and AXQT.DE.

Drawdown Indicators

	AXQE.DE	AXQT.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.63%	-18.65%	-0.98%
Max Drawdown (1Y) Largest decline over 1 year	-19.63%	-11.49%	-8.14%
Current Drawdown Current decline from peak	-2.54%	-2.23%	-0.31%
Average Drawdown Average peak-to-trough decline	-2.70%	-3.07%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	3.14%	+1.73%

Volatility

AXQE.DE vs. AXQT.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 AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) at 8.70%. This indicates that AXQE.DE's price experiences larger fluctuations and is considered to be riskier than AXQT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXQE.DE	AXQT.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.35%	8.70%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	30.41%	16.43%	+13.98%
Volatility (1Y) Calculated over the trailing 1-year period	32.57%	19.11%	+13.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.53%	20.01%	+10.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.53%	20.01%	+10.52%

AXQE.DE vs. AXQT.DE - Expense Ratio Comparison

AXQE.DE has a 0.30% expense ratio, which is higher than AXQT.DE's 0.27% expense ratio.

Dividends

AXQE.DE vs. AXQT.DE - Dividend Comparison

Neither AXQE.DE nor AXQT.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AXQE.DE and AXQT.DE in my portfolio?

With a correlation of 0.90, AXQE.DE and AXQT.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, AXQE.DE or AXQT.DE?

On fees, AXQT.DE is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AXQE.DE or AXQT.DE?

AXQT.DE is cheaper with a 0.27% expense ratio, compared with 0.30% for AXQE.DE.

What is the main difference between AXQE.DE and AXQT.DE?

AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged), while AXQT.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned. Their fees differ too: 0.30% for AXQE.DE and 0.27% for AXQT.DE.