AXQE.DE vs. XEMD.DE
AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) and XEMD.DE (Xtrackers MSCI Emerging Markets UCITS ETF 1D) are both Emerging Markets Equities funds - AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged) while XEMD.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past year, AXQE.DE returned 67.78% vs 48.60% for XEMD.DE. Their correlation of 0.80 suggests significant overlap in exposure. AXQE.DE charges 0.30%/yr vs 0.18%/yr for XEMD.DE.
Performance
AXQE.DE vs. XEMD.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AXQE.DE achieves a 37.94% return, which is significantly higher than XEMD.DE's 28.06% return.
AXQE.DE
- 1D
- -0.91%
- 1M
- 3.62%
- YTD
- 37.94%
- 6M
- 41.71%
- 1Y
- 67.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEMD.DE
- 1D
- -1.59%
- 1M
- 3.50%
- YTD
- 28.06%
- 6M
- 27.79%
- 1Y
- 48.60%
- 3Y*
- 20.80%
- 5Y*
- —
- 10Y*
- —
AXQE.DE vs. XEMD.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% |
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 28.06% | 13.71% |
Correlation
The correlation between AXQE.DE and XEMD.DE is 0.80, 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | 0.80 |
The correlation between AXQE.DE and XEMD.DE has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AXQE.DE vs. XEMD.DE — Risk / Return Rank
AXQE.DE
XEMD.DE
AXQE.DE vs. XEMD.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 Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.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 | XEMD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.50 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 4.60 | -1.12 |
| Martin ratioReturn relative to average drawdown | 14.04 | 16.76 | -2.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AXQE.DE | XEMD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.77 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.81 | 0.58 | +1.23 |
Drawdowns
AXQE.DE vs. XEMD.DE - Drawdown Comparison
The maximum AXQE.DE drawdown since its inception was -19.63%, smaller than the maximum XEMD.DE drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for AXQE.DE and XEMD.DE.
Loading charts...
Drawdown Indicators
| AXQE.DE | XEMD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.63% | -23.50% | +3.87% |
Max Drawdown (1Y)Largest decline over 1 year | -19.63% | -10.72% | -8.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.19% | — |
Current DrawdownCurrent decline from peak | -2.54% | -2.54% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -9.22% | +6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 2.95% | +1.92% |
Volatility
AXQE.DE vs. XEMD.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 Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE) at 7.39%. This indicates that AXQE.DE's price experiences larger fluctuations and is considered to be riskier than XEMD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AXQE.DE | XEMD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.35% | 7.39% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 30.41% | 15.08% | +15.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.57% | 17.84% | +14.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.53% | 16.76% | +13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.53% | 16.76% | +13.77% |
AXQE.DE vs. XEMD.DE - Expense Ratio Comparison
AXQE.DE has a 0.30% expense ratio, which is higher than XEMD.DE's 0.18% expense ratio.
Dividends
AXQE.DE vs. XEMD.DE - Dividend Comparison
AXQE.DE has not paid dividends to shareholders, while XEMD.DE's dividend yield for the trailing twelve months is around 1.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 1.55% | 1.92% | 3.01% | 2.38% | 2.66% |
Frequently Asked Questions
AXQE.DE and XEMD.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEMD.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEMD.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 XEMD.DE tracks MSCI EM NR USD. They also come from different issuers: AXA IM and Xtrackers. Their fees differ too: 0.30% for AXQE.DE and 0.18% for XEMD.DE.
Find the right allocation for AXQE.DE and XEMD.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer