EXSA.DE vs. VGEM.DE
EXSA.DE (iShares STOXX Europe 600 UCITS ETF (DE)) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both exchange-traded funds - EXSA.DE is a Europe Equities fund tracking the STOXX® Europe 600, while VGEM.DE is a Emerging Markets Bonds fund tracking the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, EXSA.DE returned 9.94%/yr vs 3.39%/yr for VGEM.DE. At a 0.24 correlation, their price movements are largely independent. EXSA.DE charges 0.20%/yr vs 0.25%/yr for VGEM.DE.
Performance
EXSA.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXSA.DE achieves a 10.34% return, which is significantly higher than VGEM.DE's 5.57% return.
EXSA.DE
- 1D
- 0.77%
- 1M
- 2.12%
- YTD
- 10.34%
- 6M
- 11.08%
- 1Y
- 22.39%
- 3Y*
- 15.45%
- 5Y*
- 9.94%
- 10Y*
- 10.56%
VGEM.DE
- 1D
- -0.21%
- 1M
- 3.66%
- YTD
- 5.57%
- 6M
- 5.82%
- 1Y
- 11.69%
- 3Y*
- 7.09%
- 5Y*
- 3.39%
- 10Y*
- —
EXSA.DE vs. VGEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXSA.DE iShares STOXX Europe 600 UCITS ETF (DE) | 10.34% | 20.48% | 8.50% | 15.48% | -10.35% | 24.57% | -1.78% | 28.40% | -11.06% | 0.86% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.57% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -3.40% | 16.11% | 1.51% | -2.67% |
Correlation
The correlation between EXSA.DE and VGEM.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.24 |
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Return for Risk
EXSA.DE vs. VGEM.DE — Risk / Return Rank
EXSA.DE
VGEM.DE
EXSA.DE vs. VGEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares STOXX Europe 600 UCITS ETF (DE) (EXSA.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.
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.
| EXSA.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 3.92 | -1.61 |
| Martin ratioReturn relative to average drawdown | 8.89 | 11.15 | -2.25 |
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Drawdowns
EXSA.DE vs. VGEM.DE - Drawdown Comparison
The maximum EXSA.DE drawdown since its inception was -58.34%, which is greater than VGEM.DE's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for EXSA.DE and VGEM.DE.
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Drawdown Indicators
| EXSA.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.34% | -19.64% | -38.70% |
Max Drawdown (1Y)Largest decline over 1 year | -9.64% | -2.97% | -6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.33% | -11.92% | -4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.69% | -12.13% | -8.56% |
Max Drawdown (10Y)Largest decline over 10 years | -35.69% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.21% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -5.91% | -5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.05% | +1.46% |
Volatility
EXSA.DE vs. VGEM.DE - Volatility Comparison
iShares STOXX Europe 600 UCITS ETF (DE) (EXSA.DE) has a higher volatility of 2.89% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) at 1.63%. This indicates that EXSA.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
| EXSA.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 1.63% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.84% | 4.17% | +6.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.00% | 6.16% | +6.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.43% | 7.91% | +6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.48% | 8.77% | +6.71% |
EXSA.DE vs. VGEM.DE - Expense Ratio Comparison
EXSA.DE has a 0.20% expense ratio, which is lower than VGEM.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EXSA.DE vs. VGEM.DE - Dividend Comparison
EXSA.DE's dividend yield for the trailing twelve months is around 2.48%, less than VGEM.DE's 5.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXSA.DE iShares STOXX Europe 600 UCITS ETF (DE) | 2.48% | 2.54% | 2.79% | 2.68% | 2.76% | 2.22% | 1.85% | 2.87% | 2.94% | 4.42% | 3.42% | 2.97% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.74% | 6.30% | 5.65% | 5.56% | 5.08% | 3.73% | 4.53% | 4.32% | 4.51% | 0.80% | 0.00% | 0.00% |
Frequently Asked Questions
EXSA.DE and VGEM.DE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXSA.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXSA.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for VGEM.DE.
EXSA.DE is categorized as Europe Equities, while VGEM.DE is Emerging Markets Bonds. EXSA.DE tracks STOXX® Europe 600, while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for EXSA.DE and 0.25% for VGEM.DE.
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