DX2Z.DE vs. AXQE.DE
DX2Z.DE (Xtrackers S&P Select Frontier Swap UCITS ETF (Acc)) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - DX2Z.DE tracks the S&P Select Frontier Index while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, DX2Z.DE returned 22.55% vs 46.18% for AXQE.DE. At a 0.26 correlation, their price movements are largely independent. DX2Z.DE charges 0.95%/yr vs 0.30%/yr for AXQE.DE.
Performance
DX2Z.DE vs. AXQE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DX2Z.DE achieves a 9.77% return, which is significantly lower than AXQE.DE's 27.54% return.
DX2Z.DE
- 1D
- -0.87%
- 1M
- 3.79%
- 6M
- 7.04%
- YTD
- 9.77%
- 1Y
- 22.55%
- 3Y*
- 18.56%
- 5Y*
- 13.44%
- 10Y*
- 10.84%
AXQE.DE
- 1D
- 0.00%
- 1M
- -9.83%
- 6M
- 20.68%
- YTD
- 27.54%
- 1Y
- 46.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DX2Z.DE vs. AXQE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DX2Z.DE Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) | 9.77% | 18.26% |
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 27.54% | 32.15% |
Correlation
The correlation between DX2Z.DE and AXQE.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025 | 0.26 |
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Return for Risk
DX2Z.DE vs. AXQE.DE — Risk / Return Rank
DX2Z.DE
AXQE.DE
DX2Z.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) (DX2Z.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.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.
| DX2Z.DE | AXQE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 2.34 | -0.63 |
| Martin ratioReturn relative to average drawdown | 5.06 | 8.47 | -3.41 |
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Drawdowns
DX2Z.DE vs. AXQE.DE - Drawdown Comparison
The maximum DX2Z.DE drawdown since its inception was -76.62%, which is greater than AXQE.DE's maximum drawdown of -19.63%. Use the drawdown chart below to compare losses from any high point for DX2Z.DE and AXQE.DE.
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Drawdown Indicators
| DX2Z.DE | AXQE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.62% | -19.63% | -56.99% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -19.63% | +6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -20.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.54% | — | — |
Current DrawdownCurrent decline from peak | -1.50% | -11.90% | +10.40% |
Average DrawdownAverage peak-to-trough decline | -44.82% | -2.89% | -41.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 5.44% | -1.00% |
Volatility
DX2Z.DE vs. AXQE.DE - Volatility Comparison
The current volatility for Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) (DX2Z.DE) is 3.43%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 9.82%. This indicates that DX2Z.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DX2Z.DE | AXQE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 9.82% | -6.39% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 32.60% | -18.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 34.58% | -15.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 32.08% | -13.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 32.08% | -13.30% |
DX2Z.DE vs. AXQE.DE - Expense Ratio Comparison
DX2Z.DE has a 0.95% expense ratio, which is higher than AXQE.DE's 0.30% expense ratio.
Dividends
DX2Z.DE vs. AXQE.DE - Dividend Comparison
Neither DX2Z.DE nor AXQE.DE has paid dividends to shareholders.
Frequently Asked Questions
DX2Z.DE and AXQE.DE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AXQE.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AXQE.DE is cheaper with a 0.30% expense ratio, compared with 0.95% for DX2Z.DE.
DX2Z.DE tracks S&P Select Frontier Index, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: Xtrackers and AXA IM. Their fees differ too: 0.95% for DX2Z.DE and 0.30% for AXQE.DE.
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