DBX4.DE vs. AIUT.DE

Last updated Jun 5, 2026

DBX4.DE (Xtrackers MSCI EM Europe Middle East & Africa Swap UCITS ETF) and AIUT.DE (BNP Paribas Easy II MSCI USA PAB UCITS ETF USD Acc) are both ESG funds - DBX4.DE tracks the MSCI EM EMEA Low Carbon SRI Selection Capped Index while AIUT.DE tracks the MSCI USA Climate Paris Aligned Index. Both are passively managed. Over the past year, DBX4.DE returned 22.78% vs 23.95% for AIUT.DE. At a 0.48 correlation, their price movements are largely independent. DBX4.DE charges 0.65%/yr vs 0.13%/yr for AIUT.DE.

Performance

DBX4.DE vs. AIUT.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI EM Europe Middle East & Africa Swap UCITS ETF (DBX4.DE) and BNP Paribas Easy II MSCI USA PAB UCITS ETF USD Acc (AIUT.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBX4.DE achieves a 2.42% return, which is significantly lower than AIUT.DE's 11.57% return.

DBX4.DE

• 1D: -0.48%
• 1M: 1.15%
• YTD: 2.42%
• 6M: 8.92%
• 1Y: 22.78%
• 3Y*: 18.40%
• 5Y*: 8.89%
• 10Y*: 6.92%

AIUT.DE

• 1D: -0.01%
• 1M: 8.68%
• YTD: 11.57%
• 6M: 11.41%
• 1Y: 23.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBX4.DE vs. AIUT.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DBX4.DE Xtrackers MSCI EM Europe Middle East & Africa Swap UCITS ETF	2.42%	26.97%	16.81%	3.46%
AIUT.DE BNP Paribas Easy II MSCI USA PAB UCITS ETF USD Acc	11.57%	1.03%	31.84%	5.33%

Correlation

The correlation between DBX4.DE and AIUT.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	0.48

Return for Risk

DBX4.DE vs. AIUT.DE — Risk / Return Rank

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

DBX4.DE

DBX4.DE Risk / Return Rank: 33
DBX4.DE Sharpe Ratio Rank: 32
DBX4.DE Sortino Ratio Rank: 34
DBX4.DE Omega Ratio Rank: 34
DBX4.DE Calmar Ratio Rank: 32
DBX4.DE Martin Ratio Rank: 32

AIUT.DE

AIUT.DE Risk / Return Rank: 49
AIUT.DE Sharpe Ratio Rank: 54
AIUT.DE Sortino Ratio Rank: 52
AIUT.DE Omega Ratio Rank: 53
AIUT.DE Calmar Ratio Rank: 43
AIUT.DE Martin Ratio Rank: 40

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.

DBX4.DE vs. AIUT.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EM Europe Middle East & Africa Swap UCITS ETF (DBX4.DE) and BNP Paribas Easy II MSCI USA PAB UCITS ETF USD Acc (AIUT.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.

	DBX4.DE	AIUT.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.82	-0.69
Sortino ratio: Return per unit of downside risk	1.78	2.48	-0.70
Omega ratio: Gain probability vs. loss probability	1.22	1.33	-0.11
Calmar ratio: Return relative to maximum drawdown	1.54	2.11	-0.57
Martin ratio: Return relative to average drawdown	4.76	6.23	-1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBX4.DE vs. AIUT.DE - Sharpe Ratio Comparison

The current DBX4.DE Sharpe Ratio is 1.13, which is lower than the AIUT.DE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DBX4.DE and AIUT.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

	DBX4.DE	AIUT.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.82	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	1.24	-1.13

Drawdowns

DBX4.DE vs. AIUT.DE - Drawdown Comparison

The maximum DBX4.DE drawdown since its inception was -60.48%, which is greater than AIUT.DE's maximum drawdown of -25.11%. Use the drawdown chart below to compare losses from any high point for DBX4.DE and AIUT.DE.

Drawdown Indicators

	DBX4.DE	AIUT.DE	Difference
Max Drawdown Largest peak-to-trough decline	-60.48%	-25.11%	-35.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.73%	-11.30%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.52%	—	—
Current Drawdown Current decline from peak	-7.60%	-0.33%	-7.27%
Average Drawdown Average peak-to-trough decline	-16.01%	-4.23%	-11.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	3.83%	+0.94%

Volatility

DBX4.DE vs. AIUT.DE - Volatility Comparison

Xtrackers MSCI EM Europe Middle East & Africa Swap UCITS ETF (DBX4.DE) has a higher volatility of 5.72% compared to BNP Paribas Easy II MSCI USA PAB UCITS ETF USD Acc (AIUT.DE) at 3.37%. This indicates that DBX4.DE's price experiences larger fluctuations and is considered to be riskier than AIUT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBX4.DE	AIUT.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.72%	3.37%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	17.36%	8.85%	+8.51%
Volatility (1Y) Calculated over the trailing 1-year period	20.09%	13.08%	+7.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.15%	15.75%	+1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.86%	15.75%	+5.11%

DBX4.DE vs. AIUT.DE - Expense Ratio Comparison

DBX4.DE has a 0.65% expense ratio, which is higher than AIUT.DE's 0.13% expense ratio.

Dividends

DBX4.DE vs. AIUT.DE - Dividend Comparison

Neither DBX4.DE nor AIUT.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DBX4.DE and AIUT.DE in my portfolio?

DBX4.DE and AIUT.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBX4.DE or AIUT.DE?

On fees, AIUT.DE is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBX4.DE or AIUT.DE?

AIUT.DE is cheaper with a 0.13% expense ratio, compared with 0.65% for DBX4.DE.

What is the main difference between DBX4.DE and AIUT.DE?

DBX4.DE tracks MSCI EM EMEA Low Carbon SRI Selection Capped Index, while AIUT.DE tracks MSCI USA Climate Paris Aligned Index. They also come from different issuers: Xtrackers and BNP Paribas Easy. Their fees differ too: 0.65% for DBX4.DE and 0.13% for AIUT.DE.