SNAZ.DE vs. UEFS.DE
SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) and UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) are both Emerging Markets Bonds funds - SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged) while UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. Both are passively managed. Over the past 5 years, SNAZ.DE returned -0.08%/yr vs 3.20%/yr for UEFS.DE. At a 0.36 correlation, their price movements are largely independent. SNAZ.DE charges 0.53%/yr vs 0.25%/yr for UEFS.DE.
Performance
SNAZ.DE vs. UEFS.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 UEFS.DE's 5.99% 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*
- —
UEFS.DE
- 1D
- 0.12%
- 1M
- 2.05%
- 6M
- 5.48%
- YTD
- 5.99%
- 1Y
- 14.42%
- 3Y*
- 9.07%
- 5Y*
- 3.20%
- 10Y*
- 3.22%
SNAZ.DE vs. UEFS.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% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 5.99% | 2.26% | 13.85% | 8.27% | -14.71% | 5.65% | -3.94% |
Correlation
The correlation between SNAZ.DE and UEFS.DE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.36 |
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Return for Risk
SNAZ.DE vs. UEFS.DE — Risk / Return Rank
SNAZ.DE
UEFS.DE
SNAZ.DE vs. UEFS.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) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.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 | UEFS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.45 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 4.91 | -3.52 |
| Martin ratioReturn relative to average drawdown | 5.14 | 15.11 | -9.97 |
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Drawdowns
SNAZ.DE vs. UEFS.DE - Drawdown Comparison
The maximum SNAZ.DE drawdown since its inception was -21.88%, smaller than the maximum UEFS.DE drawdown of -24.33%. Use the drawdown chart below to compare losses from any high point for SNAZ.DE and UEFS.DE.
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Drawdown Indicators
| SNAZ.DE | UEFS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -24.33% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.92% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -13.71% | +9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -17.81% | -4.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.33% | — |
Current DrawdownCurrent decline from peak | -1.34% | -0.70% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -9.00% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.95% | -0.16% |
Volatility
SNAZ.DE vs. UEFS.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) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) has a volatility of 1.52%. This indicates that SNAZ.DE experiences smaller price fluctuations and is considered to be less risky than UEFS.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 | UEFS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.52% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.09% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 6.23% | -2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 8.74% | -3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 12.92% | -5.27% |
SNAZ.DE vs. UEFS.DE - Expense Ratio Comparison
SNAZ.DE has a 0.53% expense ratio, which is higher than UEFS.DE's 0.25% expense ratio.
Dividends
SNAZ.DE vs. UEFS.DE - Dividend Comparison
SNAZ.DE has not paid dividends to shareholders, while UEFS.DE's dividend yield for the trailing twelve months is around 6.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.37% | 7.97% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
SNAZ.DE and UEFS.DE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFS.DE is cheaper with a 0.25% expense ratio, compared with 0.53% for SNAZ.DE.
SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged), while UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. They also come from different issuers: iShares and UBS. Their fees differ too: 0.53% for SNAZ.DE and 0.25% for UEFS.DE.
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