SPFD.DE vs. XUEM.DE
SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) and XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) are both Emerging Markets Bonds funds - SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged) while XUEM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, SPFD.DE returned -1.83%/yr vs 2.28%/yr for XUEM.DE. At a 0.05 correlation, their price movements are largely independent. SPFD.DE charges 0.60%/yr vs 0.25%/yr for XUEM.DE.
Performance
SPFD.DE vs. XUEM.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 XUEM.DE's 3.29% return.
SPFD.DE
- 1D
- 0.08%
- 1M
- -0.48%
- YTD
- -1.76%
- 6M
- -1.05%
- 1Y
- 2.41%
- 3Y*
- 2.99%
- 5Y*
- -1.83%
- 10Y*
- —
XUEM.DE
- 1D
- -0.07%
- 1M
- 1.53%
- YTD
- 3.29%
- 6M
- 3.01%
- 1Y
- 9.59%
- 3Y*
- 6.62%
- 5Y*
- 2.28%
- 10Y*
- —
SPFD.DE vs. XUEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.76% | 12.45% | -4.39% | 6.63% | -12.77% | -9.84% | 2.14% | 2.12% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 3.29% | 0.43% | 11.58% | 6.72% | -14.47% | 4.14% | -6.64% | 1.32% |
Correlation
The correlation between SPFD.DE and XUEM.DE is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2019 | 0.05 |
The correlation between SPFD.DE and XUEM.DE shifts across timeframes, from -0.15 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPFD.DE vs. XUEM.DE — Risk / Return Rank
SPFD.DE
XUEM.DE
SPFD.DE vs. XUEM.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 Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.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 | XUEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.31 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 3.52 | -3.16 |
| Martin ratioReturn relative to average drawdown | 1.09 | 10.09 | -9.01 |
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 | XUEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 1.64 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | 0.26 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.28 | -0.41 |
Drawdowns
SPFD.DE vs. XUEM.DE - Drawdown Comparison
The maximum SPFD.DE drawdown since its inception was -28.91%, which is greater than XUEM.DE's maximum drawdown of -26.83%. Use the drawdown chart below to compare losses from any high point for SPFD.DE and XUEM.DE.
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Drawdown Indicators
| SPFD.DE | XUEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.91% | -26.83% | -2.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -2.72% | -3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -9.24% | -13.45% | +4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -26.77% | -17.85% | -8.92% |
Current DrawdownCurrent decline from peak | -11.71% | -2.82% | -8.89% |
Average DrawdownAverage peak-to-trough decline | -13.46% | -10.35% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 0.95% | +1.27% |
Volatility
SPFD.DE vs. XUEM.DE - Volatility Comparison
State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) has a higher volatility of 2.53% compared to Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) at 1.06%. This indicates that SPFD.DE's price experiences larger fluctuations and is considered to be riskier than XUEM.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 | XUEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 1.06% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 3.83% | +2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.27% | 5.81% | +1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 8.74% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 10.44% | -1.56% |
SPFD.DE vs. XUEM.DE - Expense Ratio Comparison
SPFD.DE has a 0.60% expense ratio, which is higher than XUEM.DE's 0.25% expense ratio.
Dividends
SPFD.DE vs. XUEM.DE - Dividend Comparison
SPFD.DE has not paid dividends to shareholders, while XUEM.DE's dividend yield for the trailing twelve months is around 4.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 4.46% | 4.97% | 6.06% | 5.00% | 5.62% | 6.82% | 4.07% | 0.54% |
Frequently Asked Questions
SPFD.DE and XUEM.DE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.DE is cheaper with a 0.25% expense ratio, compared with 0.60% for SPFD.DE.
SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged), while XUEM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.60% for SPFD.DE and 0.25% for XUEM.DE.
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