IS02.DE vs. UEFE.DE
IS02.DE (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - IS02.DE tracks the JP Morgan EMBI Global Core while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, IS02.DE returned 2.88%/yr vs 4.93%/yr for UEFE.DE. A 0.52 correlation means they provide meaningful diversification when combined. IS02.DE charges 0.45%/yr vs 0.40%/yr for UEFE.DE.
Performance
IS02.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS02.DE achieves a 2.97% return, which is significantly higher than UEFE.DE's 2.04% return.
IS02.DE
- 1D
- 0.11%
- 1M
- 1.71%
- YTD
- 2.97%
- 6M
- 2.72%
- 1Y
- 9.38%
- 3Y*
- 6.78%
- 5Y*
- 2.88%
- 10Y*
- —
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.32%
- YTD
- 2.04%
- 6M
- 2.08%
- 1Y
- 8.10%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
IS02.DE vs. UEFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 2.97% | 1.10% | 11.83% | 6.71% | -13.12% | 5.72% | 0.08% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 2.04% | 5.88% | 6.93% | 15.75% | -6.22% | 2.54% | 5.04% |
Correlation
The correlation between IS02.DE and UEFE.DE is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2020 | 0.52 |
The correlation between IS02.DE and UEFE.DE has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.
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Return for Risk
IS02.DE vs. UEFE.DE — Risk / Return Rank
IS02.DE
UEFE.DE
IS02.DE vs. UEFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.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.
| IS02.DE | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.27 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.06 | +1.06 |
| Martin ratioReturn relative to average drawdown | 8.98 | 7.08 | +1.90 |
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
| IS02.DE | UEFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.48 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.58 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.66 | -0.39 |
Drawdowns
IS02.DE vs. UEFE.DE - Drawdown Comparison
The maximum IS02.DE drawdown since its inception was -16.21%, smaller than the maximum UEFE.DE drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for IS02.DE and UEFE.DE.
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Drawdown Indicators
| IS02.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -23.72% | +7.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -3.93% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -8.02% | -4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -12.46% | -3.75% |
Current DrawdownCurrent decline from peak | 0.00% | -1.03% | +1.03% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -4.41% | -1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.14% | -0.10% |
Volatility
IS02.DE vs. UEFE.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) is 1.19%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) has a volatility of 1.93%. This indicates that IS02.DE experiences smaller price fluctuations and is considered to be less risky than UEFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS02.DE | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.93% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | 4.64% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.94% | 5.46% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.53% | 8.44% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 9.82% | -1.48% |
IS02.DE vs. UEFE.DE - Expense Ratio Comparison
IS02.DE has a 0.45% expense ratio, which is higher than UEFE.DE's 0.40% expense ratio.
Dividends
IS02.DE vs. UEFE.DE - Dividend Comparison
IS02.DE has not paid dividends to shareholders, while UEFE.DE's dividend yield for the trailing twelve months is around 4.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% |
Frequently Asked Questions
IS02.DE and UEFE.DE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for IS02.DE.
IS02.DE tracks JP Morgan EMBI Global Core, while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: iShares and UBS. Their fees differ too: 0.45% for IS02.DE and 0.40% for UEFE.DE.
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