SNAZ.DE vs. VGEM.DE
SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged) while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, SNAZ.DE returned -0.08%/yr vs 3.05%/yr for VGEM.DE. At a 0.30 correlation, their price movements are largely independent. SNAZ.DE charges 0.53%/yr vs 0.25%/yr for VGEM.DE.
Performance
SNAZ.DE vs. VGEM.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 VGEM.DE's 4.89% 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*
- —
VGEM.DE
- 1D
- -0.03%
- 1M
- 2.34%
- 6M
- 4.94%
- YTD
- 4.89%
- 1Y
- 11.03%
- 3Y*
- 6.71%
- 5Y*
- 3.05%
- 10Y*
- —
SNAZ.DE vs. VGEM.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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 4.89% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -4.23% |
Correlation
The correlation between SNAZ.DE and VGEM.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.30 |
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Return for Risk
SNAZ.DE vs. VGEM.DE — Risk / Return Rank
SNAZ.DE
VGEM.DE
SNAZ.DE vs. VGEM.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 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.
| SNAZ.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.70 | -2.31 |
| Martin ratioReturn relative to average drawdown | 5.14 | 10.46 | -5.32 |
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Drawdowns
SNAZ.DE vs. VGEM.DE - Drawdown Comparison
The maximum SNAZ.DE drawdown since its inception was -21.88%, 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 SNAZ.DE and VGEM.DE.
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Drawdown Indicators
| SNAZ.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -19.64% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.97% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -11.92% | +8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -12.13% | -9.75% |
Current DrawdownCurrent decline from peak | -1.34% | -0.85% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -5.90% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.05% | -0.26% |
Volatility
SNAZ.DE vs. VGEM.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a volatility of 1.77%. This indicates that SNAZ.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
| SNAZ.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.77% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.20% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 6.19% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 7.90% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 8.77% | -1.12% |
SNAZ.DE vs. VGEM.DE - Expense Ratio Comparison
SNAZ.DE has a 0.53% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
SNAZ.DE vs. VGEM.DE - Dividend Comparison
SNAZ.DE has not paid dividends to shareholders, while VGEM.DE's dividend yield for the trailing twelve months is around 5.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Frequently Asked Questions
SNAZ.DE and VGEM.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.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 VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.53% for SNAZ.DE and 0.25% for VGEM.DE.
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