AXQT.DE vs. UETE.DE
AXQT.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc) and UETE.DE (UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc) are both Emerging Markets Equities funds - AXQT.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned while UETE.DE tracks the MSCI Emerging Markets SRI Low Carbon Select 5% Issuer Capped. Both are passively managed. Over the past year, AXQT.DE returned 67.38% vs 55.15% for UETE.DE. Their correlation of 0.84 suggests significant overlap in exposure. AXQT.DE charges 0.27%/yr vs 0.24%/yr for UETE.DE.
Performance
AXQT.DE vs. UETE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AXQT.DE achieves a 42.66% return, which is significantly higher than UETE.DE's 35.33% return.
AXQT.DE
- 1D
- 0.00%
- 1M
- 2.71%
- YTD
- 42.66%
- 6M
- 44.42%
- 1Y
- 67.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UETE.DE
- 1D
- -0.29%
- 1M
- 2.07%
- YTD
- 35.33%
- 6M
- 37.80%
- 1Y
- 55.15%
- 3Y*
- 25.08%
- 5Y*
- 9.62%
- 10Y*
- —
AXQT.DE vs. UETE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc | 42.66% | 24.51% |
UETE.DE UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc | 35.33% | 23.10% |
Correlation
The correlation between AXQT.DE and UETE.DE is 0.84, 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 | 0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025 | 0.84 |
The correlation between AXQT.DE and UETE.DE has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
AXQT.DE vs. UETE.DE — Risk / Return Rank
AXQT.DE
UETE.DE
AXQT.DE vs. UETE.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 UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc (UETE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AXQT.DE | UETE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.49 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.89 | 5.82 | +0.07 |
| Martin ratioReturn relative to average drawdown | 20.69 | 18.90 | +1.79 |
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Drawdowns
AXQT.DE vs. UETE.DE - Drawdown Comparison
The maximum AXQT.DE drawdown since its inception was -12.88%, smaller than the maximum UETE.DE drawdown of -39.65%. Use the drawdown chart below to compare losses from any high point for AXQT.DE and UETE.DE.
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Drawdown Indicators
| AXQT.DE | UETE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.88% | -39.65% | +26.77% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -9.43% | -2.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.78% | — |
Current DrawdownCurrent decline from peak | -5.22% | -4.98% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -11.50% | +9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 2.91% | +0.36% |
Volatility
AXQT.DE vs. UETE.DE - Volatility Comparison
AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) has a higher volatility of 9.39% compared to UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc (UETE.DE) at 8.44%. This indicates that AXQT.DE's price experiences larger fluctuations and is considered to be riskier than UETE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AXQT.DE | UETE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.39% | 8.44% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.18% | 17.29% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.72% | 19.99% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.49% | 18.32% | +3.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 21.08% | +0.41% |
AXQT.DE vs. UETE.DE - Expense Ratio Comparison
AXQT.DE has a 0.27% expense ratio, which is higher than UETE.DE's 0.24% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AXQT.DE vs. UETE.DE - Dividend Comparison
Neither AXQT.DE nor UETE.DE has paid dividends to shareholders.
Frequently Asked Questions
AXQT.DE and UETE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UETE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETE.DE is cheaper with a 0.24% expense ratio, compared with 0.27% for AXQT.DE.
AXQT.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned, while UETE.DE tracks MSCI Emerging Markets SRI Low Carbon Select 5% Issuer Capped. They also come from different issuers: AXA IM and UBS. Their fees differ too: 0.27% for AXQT.DE and 0.24% for UETE.DE.
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