SPFA.DE vs. ENDH.DE
SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and ENDH.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond while ENDH.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged). Both are passively managed. Over the past 3 years, SPFA.DE returned 2.58%/yr vs 6.26%/yr for ENDH.DE. At a 0.24 correlation, their price movements are largely independent. SPFA.DE charges 0.55%/yr vs 0.28%/yr for ENDH.DE.
Performance
SPFA.DE vs. ENDH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFA.DE achieves a 0.46% return, which is significantly higher than ENDH.DE's -0.08% return.
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 10Y*
- —
ENDH.DE
- 1D
- 0.37%
- 1M
- -1.14%
- YTD
- -0.08%
- 6M
- 0.41%
- 1Y
- 3.85%
- 3Y*
- 6.26%
- 5Y*
- —
- 10Y*
- —
SPFA.DE vs. ENDH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | 1.25% |
ENDH.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc | -0.08% | 7.89% | 6.59% | 5.41% | -2.17% |
Correlation
The correlation between SPFA.DE and ENDH.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 12, 2022 | 0.24 |
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Return for Risk
SPFA.DE vs. ENDH.DE — Risk / Return Rank
SPFA.DE
ENDH.DE
SPFA.DE vs. ENDH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) and L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.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.
| SPFA.DE | ENDH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.20 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.73 | -0.90 |
| Martin ratioReturn relative to average drawdown | 2.62 | 6.28 | -3.66 |
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
| SPFA.DE | ENDH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.92 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.86 | -0.60 |
Drawdowns
SPFA.DE vs. ENDH.DE - Drawdown Comparison
The maximum SPFA.DE drawdown since its inception was -16.39%, which is greater than ENDH.DE's maximum drawdown of -6.78%. Use the drawdown chart below to compare losses from any high point for SPFA.DE and ENDH.DE.
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Drawdown Indicators
| SPFA.DE | ENDH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -6.78% | -9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -2.21% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -2.71% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | — | — |
Current DrawdownCurrent decline from peak | -3.19% | -1.33% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -1.11% | -6.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.61% | +0.65% |
Volatility
SPFA.DE vs. ENDH.DE - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) is 1.83%, while L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.DE) has a volatility of 2.69%. This indicates that SPFA.DE experiences smaller price fluctuations and is considered to be less risky than ENDH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFA.DE | ENDH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 2.69% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 3.74% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 4.17% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 4.89% | +1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 4.89% | +2.16% |
SPFA.DE vs. ENDH.DE - Expense Ratio Comparison
SPFA.DE has a 0.55% expense ratio, which is higher than ENDH.DE's 0.28% expense ratio.
Dividends
SPFA.DE vs. ENDH.DE - Dividend Comparison
Neither SPFA.DE nor ENDH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFA.DE and ENDH.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENDH.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENDH.DE is cheaper with a 0.28% expense ratio, compared with 0.55% for SPFA.DE.
SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while ENDH.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged). They also come from different issuers: State Street and Legal & General. Their fees differ too: 0.55% for SPFA.DE and 0.28% for ENDH.DE.
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