SPFD.DE vs. ENDH.DE
SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) 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 - SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged) 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, SPFD.DE returned 2.99%/yr vs 6.26%/yr for ENDH.DE. A 0.51 correlation means they provide meaningful diversification when combined. SPFD.DE charges 0.60%/yr vs 0.28%/yr for ENDH.DE.
Performance
SPFD.DE vs. ENDH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFD.DE achieves a -1.76% return, which is significantly lower than ENDH.DE's -0.08% return.
SPFD.DE
- 1D
- 0.08%
- 1M
- -1.60%
- YTD
- -1.76%
- 6M
- -0.89%
- 1Y
- 2.06%
- 3Y*
- 2.99%
- 5Y*
- -1.83%
- 10Y*
- —
ENDH.DE
- 1D
- 0.37%
- 1M
- -1.29%
- YTD
- -0.08%
- 6M
- 0.40%
- 1Y
- 3.93%
- 3Y*
- 6.26%
- 5Y*
- —
- 10Y*
- —
SPFD.DE vs. ENDH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.76% | 12.45% | -4.39% | 6.63% | 0.12% |
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 SPFD.DE and ENDH.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 12, 2022 | 0.51 |
The correlation between SPFD.DE and ENDH.DE has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.
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Return for Risk
SPFD.DE vs. ENDH.DE — Risk / Return Rank
SPFD.DE
ENDH.DE
SPFD.DE vs. ENDH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.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.
| SPFD.DE | ENDH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.20 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.73 | -1.37 |
| Martin ratioReturn relative to average drawdown | 1.09 | 6.28 | -5.20 |
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
| SPFD.DE | ENDH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 0.92 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.86 | -1.00 |
Drawdowns
SPFD.DE vs. ENDH.DE - Drawdown Comparison
The maximum SPFD.DE drawdown since its inception was -28.91%, 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 SPFD.DE and ENDH.DE.
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Drawdown Indicators
| SPFD.DE | ENDH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.91% | -6.78% | -22.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -2.21% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -2.71% | -6.53% |
Max Drawdown (5Y)Largest decline over 5 years | -26.77% | — | — |
Current DrawdownCurrent decline from peak | -11.71% | -1.33% | -10.38% |
Average DrawdownAverage peak-to-trough decline | -13.46% | -1.11% | -12.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 0.61% | +1.61% |
Volatility
SPFD.DE vs. ENDH.DE - Volatility Comparison
The current volatility for State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) is 2.53%, 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 SPFD.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
| SPFD.DE | ENDH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 2.69% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 3.74% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 4.17% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 4.89% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 4.89% | +3.99% |
SPFD.DE vs. ENDH.DE - Expense Ratio Comparison
SPFD.DE has a 0.60% expense ratio, which is higher than ENDH.DE's 0.28% expense ratio.
Dividends
SPFD.DE vs. ENDH.DE - Dividend Comparison
Neither SPFD.DE nor ENDH.DE has paid dividends to shareholders.
Frequently Asked Questions
SPFD.DE and ENDH.DE have a correlation of 0.55, 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 0.60% for SPFD.DE.
SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged), 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: 0.60% for SPFD.DE and 0.28% for ENDH.DE.
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