SLMG.DE vs. XUEB.DE
SLMG.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc) and XUEB.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) are both Emerging Markets Bonds funds - SLMG.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged) while XUEB.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, SLMG.DE returned -0.86%/yr vs 2.85%/yr for XUEB.DE. A 0.52 correlation means they provide meaningful diversification when combined. SLMG.DE charges 0.50%/yr vs 0.25%/yr for XUEB.DE.
Performance
SLMG.DE vs. XUEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SLMG.DE achieves a 0.76% return, which is significantly lower than XUEB.DE's 3.66% return.
SLMG.DE
- 1D
- 0.40%
- 1M
- 0.80%
- YTD
- 0.76%
- 6M
- 1.17%
- 1Y
- 8.09%
- 3Y*
- 6.85%
- 5Y*
- -0.86%
- 10Y*
- —
XUEB.DE
- 1D
- -0.10%
- 1M
- 1.69%
- YTD
- 3.66%
- 6M
- 3.38%
- 1Y
- 10.40%
- 3Y*
- 7.25%
- 5Y*
- 2.85%
- 10Y*
- —
SLMG.DE vs. XUEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SLMG.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc | 0.76% | 10.91% | 3.21% | 7.05% | -21.25% | -3.90% | 10.66% |
XUEB.DE Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 3.66% | 1.23% | 11.99% | 7.34% | -14.37% | 5.65% | -0.25% |
Correlation
The correlation between SLMG.DE and XUEB.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 25, 2020 | 0.52 |
Over the past year, the correlation between SLMG.DE and XUEB.DE has dropped to 0.28 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
SLMG.DE vs. XUEB.DE — Risk / Return Rank
SLMG.DE
XUEB.DE
SLMG.DE vs. XUEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.DE) and Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.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.
| SLMG.DE | XUEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.33 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 3.83 | -2.13 |
| Martin ratioReturn relative to average drawdown | 6.65 | 10.83 | -4.18 |
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
| SLMG.DE | XUEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 1.75 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.32 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.25 | -0.26 |
Drawdowns
SLMG.DE vs. XUEB.DE - Drawdown Comparison
The maximum SLMG.DE drawdown since its inception was -31.13%, which is greater than XUEB.DE's maximum drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for SLMG.DE and XUEB.DE.
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Drawdown Indicators
| SLMG.DE | XUEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.13% | -17.41% | -13.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.74% | -2.70% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -7.88% | -13.41% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -30.75% | -17.41% | -13.34% |
Current DrawdownCurrent decline from peak | -6.55% | -0.40% | -6.15% |
Average DrawdownAverage peak-to-trough decline | -12.84% | -6.25% | -6.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.96% | +0.25% |
Volatility
SLMG.DE vs. XUEB.DE - Volatility Comparison
iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.DE) has a higher volatility of 1.96% compared to Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.DE) at 1.29%. This indicates that SLMG.DE's price experiences larger fluctuations and is considered to be riskier than XUEB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLMG.DE | XUEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 1.29% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | 3.95% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 5.93% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.36% | 8.74% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.69% | 8.56% | +1.13% |
SLMG.DE vs. XUEB.DE - Expense Ratio Comparison
SLMG.DE has a 0.50% expense ratio, which is higher than XUEB.DE's 0.25% expense ratio.
Dividends
SLMG.DE vs. XUEB.DE - Dividend Comparison
Neither SLMG.DE nor XUEB.DE has paid dividends to shareholders.
Frequently Asked Questions
SLMG.DE and XUEB.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEB.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for SLMG.DE.
SLMG.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged), while XUEB.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.50% for SLMG.DE and 0.25% for XUEB.DE.
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