LYQS.DE vs. SPFA.DE
LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) and SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds - LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index while SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past 5 years, LYQS.DE returned 1.43%/yr vs 1.72%/yr for SPFA.DE. A 0.56 correlation means they provide meaningful diversification when combined. LYQS.DE charges 0.25%/yr vs 0.55%/yr for SPFA.DE.
Performance
LYQS.DE vs. SPFA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQS.DE achieves a 4.61% return, which is significantly higher than SPFA.DE's 2.31% return.
LYQS.DE
- 1D
- 0.10%
- 1M
- 0.68%
- 6M
- 3.34%
- YTD
- 4.61%
- 1Y
- 10.90%
- 3Y*
- 5.80%
- 5Y*
- 1.43%
- 10Y*
- 1.37%
SPFA.DE
- 1D
- -0.29%
- 1M
- 0.20%
- 6M
- 0.89%
- YTD
- 2.31%
- 1Y
- 5.20%
- 3Y*
- 3.54%
- 5Y*
- 1.72%
- 10Y*
- —
LYQS.DE vs. SPFA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 4.61% | 0.04% | 6.43% | 5.45% | -11.25% | 5.76% | -5.23% | 17.03% | 1.43% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 2.31% | 2.44% | 3.19% | 5.65% | -4.47% | -1.03% | -5.67% | 14.74% | -12.93% |
Correlation
The correlation between LYQS.DE and SPFA.DE is 0.57, 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 | 0.57 |
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 Jul 20, 2018 | 0.56 |
The correlation between LYQS.DE and SPFA.DE has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.
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Return for Risk
LYQS.DE vs. SPFA.DE — Risk / Return Rank
LYQS.DE
SPFA.DE
LYQS.DE vs. SPFA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) and SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.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.
| LYQS.DE | SPFA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 1.31 | +2.57 |
| Martin ratioReturn relative to average drawdown | 11.90 | 4.06 | +7.85 |
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Drawdowns
LYQS.DE vs. SPFA.DE - Drawdown Comparison
The maximum LYQS.DE drawdown since its inception was -33.51%, which is greater than SPFA.DE's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for LYQS.DE and SPFA.DE.
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Drawdown Indicators
| LYQS.DE | SPFA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -18.03% | -15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -3.95% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -12.78% | -7.66% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -8.51% | -7.67% |
Max Drawdown (10Y)Largest decline over 10 years | -25.61% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | -1.42% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -8.78% | -4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.28% | -0.37% |
Volatility
LYQS.DE vs. SPFA.DE - Volatility Comparison
The current volatility for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) is 1.07%, while SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a volatility of 1.29%. This indicates that LYQS.DE experiences smaller price fluctuations and is considered to be less risky than SPFA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LYQS.DE | SPFA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.29% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.93% | 4.56% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 5.34% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.62% | 6.25% | +3.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 8.86% | +8.16% |
LYQS.DE vs. SPFA.DE - Expense Ratio Comparison
LYQS.DE has a 0.25% expense ratio, which is lower than SPFA.DE's 0.55% expense ratio.
Dividends
LYQS.DE vs. SPFA.DE - Dividend Comparison
LYQS.DE's dividend yield for the trailing twelve months is around 5.12%, while SPFA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.12% | 5.36% | 3.57% | 6.06% | 6.00% | 4.33% | 4.48% | 5.10% | 5.08% | 5.40% | 5.15% | 6.61% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LYQS.DE and SPFA.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LYQS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LYQS.DE is cheaper with a 0.25% expense ratio, compared with 0.55% for SPFA.DE.
LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index, while SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.25% for LYQS.DE and 0.55% for SPFA.DE.
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