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EM1C.DE vs. XQUD.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EM1C.DE vs. XQUD.DE

Last updated Jun 5, 2026

EM1C.DE (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF) and XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) are both Emerging Markets Bonds funds - EM1C.DE tracks the JP Morgan GBI-Emerging Markets Global Core while XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. Both are passively managed. Over the past 3 years, EM1C.DE returned 4.00%/yr vs 2.35%/yr for XQUD.DE. A 0.57 correlation means they provide meaningful diversification when combined. EM1C.DE charges 0.30%/yr vs 0.45%/yr for XQUD.DE.

Performance

EM1C.DE vs. XQUD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EM1C.DE) and Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EM1C.DE achieves a 2.30% return, which is significantly higher than XQUD.DE's 1.98% return.

EM1C.DE

1D
-0.08%
1M
1.38%
YTD
2.30%
6M
2.32%
1Y
7.02%
3Y*
4.00%
5Y*
2.23%
10Y*
—

XQUD.DE

1D
-0.03%
1M
1.14%
YTD
1.98%
6M
1.13%
1Y
6.03%
3Y*
2.35%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EM1C.DE vs. XQUD.DE - Yearly Performance Comparison

2026 (YTD)2025202420232022
EM1C.DE
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF		2.30%4.53%3.69%6.44%1.11%
XQUD.DE
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF		1.98%-1.36%5.23%3.70%-0.16%

Correlation

The correlation between EM1C.DE and XQUD.DE is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Jun 29, 2022

0.57

The correlation between EM1C.DE and XQUD.DE has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.

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VanEck J.P. Morgan EM Local Currency Bond UCITS ETF

Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF

Often compared with EM1C.DE:
EM1C.DE vs. IS02.DEEM1C.DE vs. IUS7.DEEM1C.DE vs. VGEM.DEEM1C.DE vs. CEB0.DEEM1C.DE vs. ENDH.DEEM1C.DE vs. XUEM.DEEM1C.DE vs. IS3C.DE
Often compared with XQUD.DE:
XQUD.DE vs. GHYGXQUD.DE vs. LUXQUD.DE vs. XNGI.DEXQUD.DE vs. SEAB.DEXQUD.DE vs. SEAD.DEXQUD.DE vs. ENDH.DEXQUD.DE vs. CEB0.DE

Return for Risk

EM1C.DE vs. XQUD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EM1C.DE
EM1C.DE Risk / Return Rank: 4141
Overall Rank
EM1C.DE Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EM1C.DE Sortino Ratio Rank: 4343
Sortino Ratio Rank
EM1C.DE Omega Ratio Rank: 4040
Omega Ratio Rank
EM1C.DE Calmar Ratio Rank: 4242
Calmar Ratio Rank
EM1C.DE Martin Ratio Rank: 4343
Martin Ratio Rank
XQUD.DE
XQUD.DE Risk / Return Rank: 3131
Overall Rank
XQUD.DE Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
XQUD.DE Sortino Ratio Rank: 2929
Sortino Ratio Rank
XQUD.DE Omega Ratio Rank: 2929
Omega Ratio Rank
XQUD.DE Calmar Ratio Rank: 3333
Calmar Ratio Rank
XQUD.DE Martin Ratio Rank: 3232
Martin Ratio Rank
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.

EM1C.DE vs. XQUD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EM1C.DE) and Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.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.

EM1C.DEXQUD.DEDifference
Sharpe ratioReturn per unit of total volatility
1.39
1.04

+0.35

Sortino ratioReturn per unit of downside risk
2.12
1.55

+0.57

Omega ratioGain probability vs. loss probability

1.26

1.19

+0.07

Calmar ratioReturn relative to maximum drawdown

2.04

1.56

+0.48

Martin ratioReturn relative to average drawdown

6.75

4.64

+2.11

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EM1C.DE vs. XQUD.DE - Sharpe Ratio Comparison

The current EM1C.DE Sharpe Ratio is 1.39, which is higher than the XQUD.DE Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of EM1C.DE and XQUD.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.

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Sharpe Ratios by Period

EM1C.DEXQUD.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

1.04

+0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.29

-0.21

Drawdowns

EM1C.DE vs. XQUD.DE - Drawdown Comparison

The maximum EM1C.DE drawdown since its inception was -18.83%, which is greater than XQUD.DE's maximum drawdown of -12.01%. Use the drawdown chart below to compare losses from any high point for EM1C.DE and XQUD.DE.

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Drawdown Indicators

EM1C.DEXQUD.DEDifference

Max Drawdown

Largest peak-to-trough decline

-18.83%

-12.01%

-6.82%

Max Drawdown (1Y)

Largest decline over 1 year

-3.42%

-3.84%

+0.42%

Max Drawdown (3Y)

Largest decline over 3 years

-7.20%

-11.40%

+4.20%

Max Drawdown (5Y)

Largest decline over 5 years

-8.53%

—

—

Current Drawdown

Current decline from peak

-0.85%

-2.99%

+2.14%

Average Drawdown

Average peak-to-trough decline

-8.00%

-5.54%

-2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.04%

1.30%

-0.26%

Volatility

EM1C.DE vs. XQUD.DE - Volatility Comparison

VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EM1C.DE) has a higher volatility of 1.55% compared to Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) at 1.12%. This indicates that EM1C.DE's price experiences larger fluctuations and is considered to be riskier than XQUD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EM1C.DEXQUD.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.55%

1.12%

+0.43%

Volatility (6M)

Calculated over the trailing 6-month period

4.15%

3.74%

+0.41%

Volatility (1Y)

Calculated over the trailing 1-year period

5.03%

5.77%

-0.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.03%

7.98%

-0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.06%

7.98%

+0.08%

EM1C.DE vs. XQUD.DE - Expense Ratio Comparison

EM1C.DE has a 0.30% expense ratio, which is lower than XQUD.DE's 0.45% expense ratio.

Dividends

EM1C.DE vs. XQUD.DE - Dividend Comparison

Neither EM1C.DE nor XQUD.DE has paid dividends to shareholders.

PositionTTM2025202420232022
EM1C.DE
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF		0.00%0.00%0.00%0.00%0.19%
XQUD.DE
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF		0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EM1C.DE and XQUD.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EM1C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EM1C.DE is cheaper with a 0.30% expense ratio, compared with 0.45% for XQUD.DE.

EM1C.DE tracks JP Morgan GBI-Emerging Markets Global Core, while XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. They also come from different issuers: VanEck and Xtrackers. Their fees differ too: 0.30% for EM1C.DE and 0.45% for XQUD.DE.

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