SNAZ.DE vs. UEFE.DE
SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) 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 - SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged) while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, SNAZ.DE returned -0.08%/yr vs 3.37%/yr for UEFE.DE. At a 0.20 correlation, their price movements are largely independent. SNAZ.DE charges 0.53%/yr vs 0.40%/yr for UEFE.DE.
Performance
SNAZ.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SNAZ.DE achieves a 0.98% return, which is significantly lower than UEFE.DE's 5.22% return.
SNAZ.DE
- 1D
- 0.39%
- 1M
- 0.39%
- 6M
- 0.98%
- YTD
- 0.98%
- 1Y
- 4.05%
- 3Y*
- 5.08%
- 5Y*
- -0.08%
- 10Y*
- —
UEFE.DE
- 1D
- 0.00%
- 1M
- 2.27%
- 6M
- 4.86%
- YTD
- 5.22%
- 1Y
- 11.94%
- 3Y*
- 6.63%
- 5Y*
- 3.37%
- 10Y*
- —
SNAZ.DE vs. UEFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.98% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.22% | 6.42% | 4.70% | 10.83% | -7.97% | -1.52% | -1.13% |
Correlation
The correlation between SNAZ.DE and UEFE.DE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.20 |
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Return for Risk
SNAZ.DE vs. UEFE.DE — Risk / Return Rank
SNAZ.DE
UEFE.DE
SNAZ.DE vs. UEFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
| SNAZ.DE | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.42 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.05 | -1.66 |
| Martin ratioReturn relative to average drawdown | 5.14 | 10.67 | -5.53 |
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Drawdowns
SNAZ.DE vs. UEFE.DE - Drawdown Comparison
The maximum SNAZ.DE drawdown since its inception was -21.88%, smaller than the maximum UEFE.DE drawdown of -23.70%. Use the drawdown chart below to compare losses from any high point for SNAZ.DE and UEFE.DE.
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Drawdown Indicators
| SNAZ.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -23.70% | +1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -3.90% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -7.95% | +4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -12.90% | -8.98% |
Current DrawdownCurrent decline from peak | -1.34% | -0.00% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -8.56% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.12% | -0.33% |
Volatility
SNAZ.DE vs. UEFE.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) is 0.91%, 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 1.21%. This indicates that SNAZ.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
| SNAZ.DE | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.21% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.66% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 5.51% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 8.07% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 13.01% | -5.36% |
SNAZ.DE vs. UEFE.DE - Expense Ratio Comparison
SNAZ.DE has a 0.53% expense ratio, which is higher than UEFE.DE's 0.40% expense ratio.
Dividends
SNAZ.DE vs. UEFE.DE - Dividend Comparison
SNAZ.DE has not paid dividends to shareholders, while UEFE.DE's dividend yield for the trailing twelve months is around 5.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.34% | 5.84% | 4.97% | 4.52% | 4.68% | 4.87% | 5.10% | 4.88% |
Frequently Asked Questions
SNAZ.DE and UEFE.DE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.53% for SNAZ.DE.
SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged), while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: iShares and UBS. Their fees differ too: 0.53% for SNAZ.DE and 0.40% for UEFE.DE.
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