LYQS.DE vs. UEFE.DE
LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) 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 - LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, LYQS.DE returned 1.43%/yr vs 3.28%/yr for UEFE.DE. At a 0.50 correlation, their price movements are largely independent. LYQS.DE charges 0.25%/yr vs 0.40%/yr for UEFE.DE.
Performance
LYQS.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LYQS.DE having a 4.61% return and UEFE.DE slightly higher at 4.68%.
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%
UEFE.DE
- 1D
- -0.26%
- 1M
- 0.17%
- 6M
- 2.36%
- YTD
- 4.68%
- 1Y
- 10.66%
- 3Y*
- 6.54%
- 5Y*
- 3.28%
- 10Y*
- —
LYQS.DE vs. UEFE.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% | 4.33% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.68% | 6.42% | 4.70% | 10.83% | -7.97% | -1.52% | -6.87% | 15.85% | -7.00% |
Correlation
The correlation between LYQS.DE and UEFE.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 (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2018 | 0.50 |
The correlation between LYQS.DE and UEFE.DE has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
LYQS.DE vs. UEFE.DE — Risk / Return Rank
LYQS.DE
UEFE.DE
LYQS.DE vs. UEFE.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 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.
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 | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 2.72 | +1.16 |
| Martin ratioReturn relative to average drawdown | 11.90 | 9.53 | +2.37 |
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Drawdowns
LYQS.DE vs. UEFE.DE - Drawdown Comparison
The maximum LYQS.DE drawdown since its inception was -33.51%, which is greater than UEFE.DE's maximum drawdown of -23.70%. Use the drawdown chart below to compare losses from any high point for LYQS.DE and UEFE.DE.
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Drawdown Indicators
| LYQS.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -23.70% | -9.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -3.90% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -12.78% | -7.95% | -4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -12.90% | -3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -25.61% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | -0.68% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -8.52% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.12% | -0.21% |
Volatility
LYQS.DE vs. UEFE.DE - Volatility Comparison
The current volatility for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) is 1.07%, 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 1.16%. This indicates that LYQS.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
| LYQS.DE | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.16% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.93% | 4.71% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 5.48% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.62% | 8.08% | +1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 12.98% | +4.04% |
LYQS.DE vs. UEFE.DE - Expense Ratio Comparison
LYQS.DE has a 0.25% expense ratio, which is lower than UEFE.DE's 0.40% expense ratio.
Dividends
LYQS.DE vs. UEFE.DE - Dividend Comparison
LYQS.DE's dividend yield for the trailing twelve months is around 5.12%, less than UEFE.DE's 5.37% yield.
| 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% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.37% | 5.84% | 4.97% | 4.52% | 4.68% | 4.87% | 5.10% | 4.88% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LYQS.DE and UEFE.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.
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 0.40% for UEFE.DE.
LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index, while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: Amundi and UBS. Their fees differ too: 0.25% for LYQS.DE and 0.40% for UEFE.DE.
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