LGQM.DE vs. AXQE.DE

Last updated Jul 18, 2026

LGQM.DE (Amundi Pan Africa UCITS ETF (Acc)) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - LGQM.DE tracks the SGI Pan Africa Index while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, LGQM.DE returned 27.57% vs 46.18% for AXQE.DE. At a 0.50 correlation, their price movements are largely independent. LGQM.DE charges 0.85%/yr vs 0.30%/yr for AXQE.DE.

Performance

LGQM.DE vs. AXQE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Pan Africa UCITS ETF (Acc) (LGQM.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGQM.DE achieves a -3.64% return, which is significantly lower than AXQE.DE's 27.54% return.

LGQM.DE

• 1D: -0.85%
• 1M: -10.13%
• 6M: -8.84%
• YTD: -3.64%
• 1Y: 27.57%
• 3Y*: 15.50%
• 5Y*: 9.54%
• 10Y*: 4.70%

AXQE.DE

• 1D: 0.00%
• 1M: -9.83%
• 6M: 20.68%
• YTD: 27.54%
• 1Y: 46.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LGQM.DE vs. AXQE.DE - Yearly Performance Comparison

	2026 (YTD)	2025
LGQM.DE Amundi Pan Africa UCITS ETF (Acc)	-3.64%	37.78%
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating	27.54%	32.15%

Correlation

The correlation between LGQM.DE and AXQE.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 (All Time) Calculated using the full available price history since Mar 31, 2025	0.50

The correlation between LGQM.DE and AXQE.DE has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

Return for Risk

LGQM.DE vs. AXQE.DE — Risk / Return Rank

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

LGQM.DE

LGQM.DE Risk / Return Rank: 32
LGQM.DE Sharpe Ratio Rank: 30
LGQM.DE Sortino Ratio Rank: 30
LGQM.DE Omega Ratio Rank: 32
LGQM.DE Calmar Ratio Rank: 36
LGQM.DE Martin Ratio Rank: 30

AXQE.DE

AXQE.DE Risk / Return Rank: 59
AXQE.DE Sharpe Ratio Rank: 49
AXQE.DE Sortino Ratio Rank: 51
AXQE.DE Omega Ratio Rank: 70
AXQE.DE Calmar Ratio Rank: 61
AXQE.DE Martin Ratio Rank: 63

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.

LGQM.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Pan Africa UCITS ETF (Acc) (LGQM.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.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.

	LGQM.DE	AXQE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.33	-0.48
Sortino ratio: Return per unit of downside risk	1.32	1.97	-0.65
Omega ratio: Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio: Return relative to maximum drawdown	1.41	2.34	-0.93
Martin ratio: Return relative to average drawdown	3.31	8.47	-5.16

LGQM.DE vs. AXQE.DE - Sharpe Ratio Comparison

The current LGQM.DE Sharpe Ratio is 0.85, which is lower than the AXQE.DE Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of LGQM.DE and AXQE.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.

Drawdowns

LGQM.DE vs. AXQE.DE - Drawdown Comparison

The maximum LGQM.DE drawdown since its inception was -61.98%, which is greater than AXQE.DE's maximum drawdown of -19.63%. Use the drawdown chart below to compare losses from any high point for LGQM.DE and AXQE.DE.

Drawdown Indicators

	LGQM.DE	AXQE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-19.63%	-42.35%
Max Drawdown (1Y) Largest decline over 1 year	-19.42%	-19.63%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.35%	—	—
Current Drawdown Current decline from peak	-15.95%	-11.90%	-4.05%
Average Drawdown Average peak-to-trough decline	-26.92%	-2.89%	-24.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.31%	5.44%	+2.87%

Volatility

LGQM.DE vs. AXQE.DE - Volatility Comparison

The current volatility for Amundi Pan Africa UCITS ETF (Acc) (LGQM.DE) is 6.31%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 9.82%. This indicates that LGQM.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGQM.DE	AXQE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	9.82%	-3.51%
Volatility (6M) Calculated over the trailing 6-month period	27.50%	32.60%	-5.10%
Volatility (1Y) Calculated over the trailing 1-year period	32.16%	34.58%	-2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.79%	32.08%	-8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.12%	32.08%	-8.96%

LGQM.DE vs. AXQE.DE - Expense Ratio Comparison

LGQM.DE has a 0.85% expense ratio, which is higher than AXQE.DE's 0.30% expense ratio.

Dividends

LGQM.DE vs. AXQE.DE - Dividend Comparison

Neither LGQM.DE nor AXQE.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGQM.DE and AXQE.DE in my portfolio?

LGQM.DE and AXQE.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.

Which ETF is better, LGQM.DE or AXQE.DE?

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

Which ETF is cheaper, LGQM.DE or AXQE.DE?

AXQE.DE is cheaper with a 0.30% expense ratio, compared with 0.85% for LGQM.DE.

What is the main difference between LGQM.DE and AXQE.DE?

LGQM.DE tracks SGI Pan Africa Index, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: Amundi and AXA IM. Their fees differ too: 0.85% for LGQM.DE and 0.30% for AXQE.DE.