LYQS.DE vs. VGEM.DE
LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, LYQS.DE returned 1.74%/yr vs 3.05%/yr for VGEM.DE. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
LYQS.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQS.DE achieves a 5.26% return, which is significantly higher than VGEM.DE's 4.89% return.
LYQS.DE
- 1D
- 0.17%
- 1M
- 2.22%
- 6M
- 5.27%
- YTD
- 5.26%
- 1Y
- 11.97%
- 3Y*
- 5.45%
- 5Y*
- 1.74%
- 10Y*
- 1.50%
VGEM.DE
- 1D
- -0.03%
- 1M
- 2.34%
- 6M
- 4.94%
- YTD
- 4.89%
- 1Y
- 11.03%
- 3Y*
- 6.71%
- 5Y*
- 3.05%
- 10Y*
- —
LYQS.DE vs. VGEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.26% | 0.04% | 6.43% | 5.45% | -11.25% | 5.76% | -5.23% | 17.03% | -0.39% | -0.73% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 4.89% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -3.40% | 16.11% | 1.51% | -2.67% |
Correlation
The correlation between LYQS.DE and VGEM.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.81 |
The correlation between LYQS.DE and VGEM.DE has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
LYQS.DE vs. VGEM.DE — Risk / Return Rank
LYQS.DE
VGEM.DE
LYQS.DE vs. VGEM.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 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.
| LYQS.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.33 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.26 | 3.70 | +0.56 |
| Martin ratioReturn relative to average drawdown | 13.30 | 10.46 | +2.84 |
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Drawdowns
LYQS.DE vs. VGEM.DE - Drawdown Comparison
The maximum LYQS.DE drawdown since its inception was -33.51%, 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 LYQS.DE and VGEM.DE.
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Drawdown Indicators
| LYQS.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -19.64% | -13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.97% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -12.78% | -11.92% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -12.13% | -4.05% |
Max Drawdown (10Y)Largest decline over 10 years | -25.61% | — | — |
Current DrawdownCurrent decline from peak | -0.99% | -0.85% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -12.92% | -5.90% | -7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.05% | -0.15% |
Volatility
LYQS.DE vs. VGEM.DE - Volatility Comparison
The current volatility for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) is 1.48%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a volatility of 1.77%. This indicates that LYQS.DE experiences smaller price fluctuations and is considered to be less risky 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
| LYQS.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.77% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 4.20% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 6.19% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.63% | 7.90% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 8.77% | +8.25% |
LYQS.DE vs. VGEM.DE - Expense Ratio Comparison
Both LYQS.DE and VGEM.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
LYQS.DE vs. VGEM.DE - Dividend Comparison
LYQS.DE's dividend yield for the trailing twelve months is around 5.09%, less than VGEM.DE's 5.78% 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) | 5.09% | 5.36% | 3.57% | 6.06% | 6.00% | 4.33% | 4.48% | 5.10% | 5.08% | 5.40% | 5.15% | 6.61% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.78% | 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
LYQS.DE and VGEM.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
LYQS.DE and VGEM.DE have the same expense ratio: 0.25% per year.
LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index, while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: Amundi and Vanguard.
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