DBEU vs. XEML

Last updated Jun 24, 2026

DBEU (Xtrackers MSCI Europe Hedged Equity Fund) and XEML (Xtrackers Europe Market Leaders ETF) are both Europe Equities funds - DBEU tracks the MSCI Europe US Dollar Hedged Index while XEML tracks the STOXX Europe Total Market Leaders Index. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. DBEU charges 0.45%/yr vs 0.35%/yr for XEML.

Performance

DBEU vs. XEML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Europe Hedged Equity Fund (DBEU) and Xtrackers Europe Market Leaders ETF (XEML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEU achieves a 10.66% return, which is significantly higher than XEML's 2.42% return.

DBEU

• 1D: -0.79%
• 1M: 2.53%
• YTD: 10.66%
• 6M: 11.19%
• 1Y: 23.41%
• 3Y*: 16.46%
• 5Y*: 11.52%
• 10Y*: 12.00%

XEML

• 1D: -0.60%
• 1M: 0.57%
• YTD: 2.42%
• 6M: 1.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBEU vs. XEML - Yearly Performance Comparison

	2026 (YTD)	2025
DBEU Xtrackers MSCI Europe Hedged Equity Fund	10.66%	0.54%
XEML Xtrackers Europe Market Leaders ETF	2.42%	-0.42%

Correlation

The correlation between DBEU and XEML is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.83

Return for Risk

DBEU vs. XEML — Risk / Return Rank

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

DBEU

DBEU Risk / Return Rank: 56
DBEU Sharpe Ratio Rank: 57
DBEU Sortino Ratio Rank: 57
DBEU Omega Ratio Rank: 55
DBEU Calmar Ratio Rank: 52
DBEU Martin Ratio Rank: 58

XEML

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DBEU vs. XEML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe Hedged Equity Fund (DBEU) and Xtrackers Europe Market Leaders ETF (XEML). 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.

	DBEU	XEML	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.56	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	9.76	—	—

Drawdowns

DBEU vs. XEML - Drawdown Comparison

The maximum DBEU drawdown since its inception was -34.50%, which is greater than XEML's maximum drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for DBEU and XEML.

Drawdown Indicators

	DBEU	XEML	Difference
Max Drawdown Largest peak-to-trough decline	-34.50%	-13.49%	-21.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.67%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.50%	—	—
Current Drawdown Current decline from peak	-0.79%	-5.96%	+5.17%
Average Drawdown Average peak-to-trough decline	-4.43%	-4.91%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	—	—

Volatility

Volatility by Period

	DBEU	XEML	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	19.65%	-6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	19.65%	-5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	19.65%	-3.38%

DBEU vs. XEML - Expense Ratio Comparison

DBEU has a 0.45% expense ratio, which is higher than XEML's 0.35% expense ratio.

Dividends

DBEU vs. XEML - Dividend Comparison

DBEU's dividend yield for the trailing twelve months is around 1.43%, less than XEML's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEU Xtrackers MSCI Europe Hedged Equity Fund	1.43%	4.55%	0.07%	3.64%	1.96%	1.87%	2.44%	2.77%	3.55%	2.28%	9.92%	5.50%
XEML Xtrackers Europe Market Leaders ETF	1.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBEU and XEML in my portfolio?

DBEU and XEML have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBEU or XEML?

On fees, XEML is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBEU or XEML?

XEML is cheaper with a 0.35% expense ratio, compared with 0.45% for DBEU.

Which ETF pays a higher dividend yield, DBEU or XEML?

XEML has the higher dividend yield at 1.82%, compared with 1.43% for DBEU.

What is the main difference between DBEU and XEML?

DBEU tracks MSCI Europe US Dollar Hedged Index, while XEML tracks STOXX Europe Total Market Leaders Index. They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.45% for DBEU and 0.35% for XEML.