EUNI.DE vs. XEMD.DE

Last updated Jun 5, 2026

EUNI.DE (iShares MSCI Emerging Markets Small Cap UCITS ETF) and XEMD.DE (Xtrackers MSCI Emerging Markets UCITS ETF 1D) are both Emerging Markets Equities funds - EUNI.DE tracks the MSCI Emerging Markets Small Cap while XEMD.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 3 years, EUNI.DE returned 13.85%/yr vs 20.80%/yr for XEMD.DE. A 0.76 correlation means they provide meaningful diversification when combined. EUNI.DE charges 0.74%/yr vs 0.18%/yr for XEMD.DE.

Performance

EUNI.DE vs. XEMD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE) and Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUNI.DE achieves a 16.80% return, which is significantly lower than XEMD.DE's 28.06% return.

EUNI.DE

• 1D: -0.41%
• 1M: -0.02%
• YTD: 16.80%
• 6M: 15.58%
• 1Y: 26.07%
• 3Y*: 13.85%
• 5Y*: 7.89%
• 10Y*: 8.99%

XEMD.DE

• 1D: -1.59%
• 1M: 3.50%
• YTD: 28.06%
• 6M: 27.79%
• 1Y: 48.60%
• 3Y*: 20.80%
• 5Y*: —
• 10Y*: —

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

EUNI.DE vs. XEMD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	16.80%	6.21%	8.18%	19.10%	-13.60%	0.28%
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D	28.06%	18.67%	13.85%	5.68%	-14.85%	-1.50%

Correlation

The correlation between EUNI.DE and XEMD.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.76

The correlation between EUNI.DE and XEMD.DE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

EUNI.DE vs. XEMD.DE — Risk / Return Rank

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

EUNI.DE

EUNI.DE Risk / Return Rank: 52
EUNI.DE Sharpe Ratio Rank: 45
EUNI.DE Sortino Ratio Rank: 47
EUNI.DE Omega Ratio Rank: 45
EUNI.DE Calmar Ratio Rank: 66
EUNI.DE Martin Ratio Rank: 60

XEMD.DE

XEMD.DE Risk / Return Rank: 84
XEMD.DE Sharpe Ratio Rank: 86
XEMD.DE Sortino Ratio Rank: 84
XEMD.DE Omega Ratio Rank: 84
XEMD.DE Calmar Ratio Rank: 85
XEMD.DE Martin Ratio Rank: 83

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.

EUNI.DE vs. XEMD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE) and Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.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.

	EUNI.DE	XEMD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.77	-1.21
Sortino ratio: Return per unit of downside risk	2.29	3.71	-1.42
Omega ratio: Gain probability vs. loss probability	1.28	1.50	-0.22
Calmar ratio: Return relative to maximum drawdown	3.23	4.60	-1.37
Martin ratio: Return relative to average drawdown	10.53	16.76	-6.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUNI.DE vs. XEMD.DE - Sharpe Ratio Comparison

The current EUNI.DE Sharpe Ratio is 1.56, which is lower than the XEMD.DE Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of EUNI.DE and XEMD.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

	EUNI.DE	XEMD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	2.77	-1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.58	-0.17

Drawdowns

EUNI.DE vs. XEMD.DE - Drawdown Comparison

The maximum EUNI.DE drawdown since its inception was -41.89%, which is greater than XEMD.DE's maximum drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for EUNI.DE and XEMD.DE.

Drawdown Indicators

	EUNI.DE	XEMD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.89%	-23.50%	-18.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-10.72%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	-19.19%	-1.96%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.89%	—	—
Current Drawdown Current decline from peak	-2.54%	-2.54%	0.00%
Average Drawdown Average peak-to-trough decline	-10.57%	-9.22%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.95%	-0.51%

Volatility

EUNI.DE vs. XEMD.DE - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE) is 6.91%, while Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE) has a volatility of 7.39%. This indicates that EUNI.DE experiences smaller price fluctuations and is considered to be less risky than XEMD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUNI.DE	XEMD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	7.39%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	15.08%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.45%	17.84%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	16.76%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	16.76%	+0.08%

EUNI.DE vs. XEMD.DE - Expense Ratio Comparison

EUNI.DE has a 0.74% expense ratio, which is higher than XEMD.DE's 0.18% expense ratio.

Dividends

EUNI.DE vs. XEMD.DE - Dividend Comparison

EUNI.DE's dividend yield for the trailing twelve months is around 0.81%, less than XEMD.DE's 1.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	0.81%	1.83%	1.74%	2.11%	2.47%	1.23%	1.77%	2.02%	2.14%	1.45%	2.00%	0.85%
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D	1.55%	1.92%	3.01%	2.38%	2.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUNI.DE and XEMD.DE in my portfolio?

EUNI.DE and XEMD.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EUNI.DE or XEMD.DE?

On fees, XEMD.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EUNI.DE or XEMD.DE?

XEMD.DE is cheaper with a 0.18% expense ratio, compared with 0.74% for EUNI.DE.

What is the main difference between EUNI.DE and XEMD.DE?

EUNI.DE tracks MSCI Emerging Markets Small Cap, while XEMD.DE tracks MSCI EM NR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.74% for EUNI.DE and 0.18% for XEMD.DE.