ENDH.DE vs. VGEM.DE
ENDH.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - ENDH.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged) while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 3 years, ENDH.DE returned 6.26%/yr vs 5.24%/yr for VGEM.DE. At a 0.36 correlation, their price movements are largely independent. ENDH.DE charges 0.28%/yr vs 0.25%/yr for VGEM.DE.
Performance
ENDH.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ENDH.DE achieves a -0.08% return, which is significantly lower than VGEM.DE's 2.34% return.
ENDH.DE
- 1D
- 0.37%
- 1M
- -1.14%
- YTD
- -0.08%
- 6M
- 0.41%
- 1Y
- 3.85%
- 3Y*
- 6.26%
- 5Y*
- —
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
ENDH.DE vs. VGEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENDH.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc | -0.08% | 7.89% | 6.59% | 5.41% | -2.17% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -2.28% |
Correlation
The correlation between ENDH.DE and VGEM.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since May 12, 2022 | 0.36 |
The correlation between ENDH.DE and VGEM.DE shifts across timeframes, from 0.24 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ENDH.DE vs. VGEM.DE — Risk / Return Rank
ENDH.DE
VGEM.DE
ENDH.DE vs. VGEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.DE) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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.
| ENDH.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.16 | -0.43 |
| Martin ratioReturn relative to average drawdown | 6.28 | 5.71 | +0.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ENDH.DE | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 1.13 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.29 | +0.58 |
Drawdowns
ENDH.DE vs. VGEM.DE - Drawdown Comparison
The maximum ENDH.DE drawdown since its inception was -6.78%, smaller than the maximum VGEM.DE drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for ENDH.DE and VGEM.DE.
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Drawdown Indicators
| ENDH.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.78% | -19.64% | +12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -3.10% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -2.71% | -11.98% | +9.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.46% | — |
Current DrawdownCurrent decline from peak | -1.33% | -2.18% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -6.63% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.17% | -0.56% |
Volatility
ENDH.DE vs. VGEM.DE - Volatility Comparison
L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.DE) has a higher volatility of 2.69% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) at 1.18%. This indicates that ENDH.DE's price experiences larger fluctuations and is considered to be riskier than VGEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENDH.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.18% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 3.96% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 5.93% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 7.89% | -3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 8.77% | -3.88% |
ENDH.DE vs. VGEM.DE - Expense Ratio Comparison
ENDH.DE has a 0.28% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
ENDH.DE vs. VGEM.DE - Dividend Comparison
ENDH.DE has not paid dividends to shareholders, while VGEM.DE's dividend yield for the trailing twelve months is around 5.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ENDH.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
ENDH.DE and VGEM.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.28% for ENDH.DE.
ENDH.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged), while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: Legal & General and Vanguard. Their fees differ too: 0.28% for ENDH.DE and 0.25% for VGEM.DE.
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