AXQT.DE vs. EUNI.DE

Last updated Apr 7, 2026

Compare and contrast key facts about AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE).

AXQT.DE and EUNI.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AXQT.DE is a passively managed fund by AXA IM that tracks the performance of the MSCI Emerging Markets ex China Climate Paris Aligned. It was launched on Feb 5, 2025. EUNI.DE is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Small Cap. It was launched on Mar 6, 2009. Both AXQT.DE and EUNI.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AXQT.DE vs. EUNI.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 USD Acc (AXQT.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXQT.DE achieves a 10.31% return, which is significantly higher than EUNI.DE's 3.48% return.

AXQT.DE

• 1D: 0.28%
• 1M: 0.05%
• YTD: 10.31%
• 6M: 17.46%
• 1Y: 46.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EUNI.DE

• 1D: -0.77%
• 1M: -0.50%
• YTD: 3.48%
• 6M: 3.65%
• 1Y: 29.43%
• 3Y*: 11.48%
• 5Y*: 6.48%
• 10Y*: 7.80%

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

AXQT.DE vs. EUNI.DE - Yearly Performance Comparison

	2026 (YTD)	2025
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc	10.31%	15.03%
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	3.48%	6.22%

Correlation

The correlation between AXQT.DE and EUNI.DE is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

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

AXQT.DE has a 0.27% expense ratio, which is lower than EUNI.DE's 0.74% expense ratio.

EUNI.DE

iShares MSCI Emerging Markets Small Cap UCITS ETF

AXQT.DE

AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc

Return for Risk

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

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

AXQT.DE

AXQT.DE Risk / Return Rank: 89
AXQT.DE Sharpe Ratio Rank: 90
AXQT.DE Sortino Ratio Rank: 86
AXQT.DE Omega Ratio Rank: 87
AXQT.DE Calmar Ratio Rank: 90
AXQT.DE Martin Ratio Rank: 90

EUNI.DE

EUNI.DE Risk / Return Rank: 60
EUNI.DE Sharpe Ratio Rank: 54
EUNI.DE Sortino Ratio Rank: 52
EUNI.DE Omega Ratio Rank: 52
EUNI.DE Calmar Ratio Rank: 75
EUNI.DE Martin Ratio Rank: 68

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.

AXQT.DE vs. EUNI.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 USD Acc (AXQT.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.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.

	AXQT.DE	EUNI.DE	Difference
Sharpe ratio Return per unit of total volatility	2.70	1.77	+0.93
Sortino ratio Return per unit of downside risk	3.47	2.48	+0.98
Omega ratio Gain probability vs. loss probability	1.50	1.34	+0.16
Calmar ratio Return relative to maximum drawdown	4.03	3.29	+0.74
Martin ratio Return relative to average drawdown	14.89	10.96	+3.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current AXQT.DE Sharpe Ratio is 2.70, which is higher than the EUNI.DE Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of AXQT.DE and EUNI.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

	AXQT.DE	EUNI.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	1.77	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.37	+0.85

Drawdowns

AXQT.DE vs. EUNI.DE - Drawdown Comparison

The maximum AXQT.DE drawdown since its inception was -18.65%, smaller than the maximum EUNI.DE drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for AXQT.DE and EUNI.DE.

Drawdown Indicators

	AXQT.DE	EUNI.DE	Difference
Max Drawdown Largest peak-to-trough decline	-18.65%	-41.89%	+23.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-7.95%	-3.54%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.89%	—
Current Drawdown Current decline from peak	-8.72%	-6.27%	-2.45%
Average Drawdown Average peak-to-trough decline	-3.34%	-10.66%	+7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.39%	+0.72%

Volatility

AXQT.DE vs. EUNI.DE - Volatility Comparison

AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE) have volatilities of 7.55% and 7.33%, 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

	AXQT.DE	EUNI.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	7.33%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	12.42%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	18.47%	16.92%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	14.88%	+3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.62%	16.69%	+1.93%

Dividends

AXQT.DE vs. EUNI.DE - Dividend Comparison

AXQT.DE has not paid dividends to shareholders, while EUNI.DE's dividend yield for the trailing twelve months is around 0.92%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	0.92%	1.83%	1.74%	2.11%	2.47%	1.23%	1.77%	2.02%	2.14%	1.45%	2.00%	0.85%