SPFA.DE vs. UEFS.DE
SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) are both Emerging Markets Bonds funds - SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond while UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. Both are passively managed. Over the past 5 years, SPFA.DE returned 1.46%/yr vs 3.30%/yr for UEFS.DE. A 0.60 correlation means they provide meaningful diversification when combined. SPFA.DE charges 0.55%/yr vs 0.25%/yr for UEFS.DE.
Performance
SPFA.DE vs. UEFS.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPFA.DE achieves a 0.46% return, which is significantly lower than UEFS.DE's 3.71% 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*
- —
UEFS.DE
- 1D
- -0.03%
- 1M
- 1.91%
- YTD
- 3.71%
- 6M
- 3.67%
- 1Y
- 11.43%
- 3Y*
- 8.56%
- 5Y*
- 3.30%
- 10Y*
- 3.55%
SPFA.DE vs. UEFS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | -4.47% | -1.04% | -5.66% | 14.72% | 0.62% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 3.71% | 2.37% | 13.84% | 8.28% | -14.67% | 5.66% | -4.70% | 17.07% | 0.05% |
Correlation
The correlation between SPFA.DE and UEFS.DE is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018 | 0.60 |
The correlation between SPFA.DE and UEFS.DE has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPFA.DE vs. UEFS.DE — Risk / Return Rank
SPFA.DE
UEFS.DE
SPFA.DE vs. UEFS.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 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.
| SPFA.DE | UEFS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.38 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 3.96 | -3.13 |
| Martin ratioReturn relative to average drawdown | 2.62 | 12.59 | -9.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPFA.DE | UEFS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 1.98 | -1.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.38 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.44 | -0.18 |
Drawdowns
SPFA.DE vs. UEFS.DE - Drawdown Comparison
The maximum SPFA.DE drawdown since its inception was -16.39%, smaller than the maximum UEFS.DE drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for SPFA.DE and UEFS.DE.
Loading charts...
Drawdown Indicators
| SPFA.DE | UEFS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -24.26% | +7.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -2.87% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | -13.70% | +6.04% |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | -17.84% | +9.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.26% | — |
Current DrawdownCurrent decline from peak | -3.19% | -0.03% | -3.16% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -7.41% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.91% | +0.35% |
Volatility
SPFA.DE vs. UEFS.DE - Volatility Comparison
SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a higher volatility of 1.83% compared to UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) at 1.27%. This indicates that SPFA.DE's price experiences larger fluctuations and is considered to be riskier than UEFS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPFA.DE | UEFS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.27% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 3.77% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 5.76% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 8.69% | -2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 9.37% | -2.32% |
SPFA.DE vs. UEFS.DE - Expense Ratio Comparison
SPFA.DE has a 0.55% expense ratio, which is higher than UEFS.DE's 0.25% expense ratio.
Dividends
SPFA.DE vs. UEFS.DE - Dividend Comparison
SPFA.DE has not paid dividends to shareholders, while UEFS.DE's dividend yield for the trailing twelve months is around 6.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 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 | 6.50% | 7.96% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
SPFA.DE and UEFS.DE have a correlation of 0.63, 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 0.55% for SPFA.DE.
SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. They also come from different issuers: State Street and UBS. Their fees differ too: 0.55% for SPFA.DE and 0.25% for UEFS.DE.
Find the right allocation for SPFA.DE and UEFS.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer