UBUD.DE vs. UEFE.DE

Last updated Jun 26, 2026

UBUD.DE (UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist) and UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both exchange-traded funds - UBUD.DE is a Gold fund tracking the Solactive Global Pure Gold Miners, while UEFE.DE is a Emerging Markets Bonds fund tracking the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, UBUD.DE returned 24.27%/yr vs 3.40%/yr for UEFE.DE. At a 0.12 correlation, their price movements are largely independent. UBUD.DE charges 0.43%/yr vs 0.40%/yr for UEFE.DE.

Performance

UBUD.DE vs. UEFE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UBUD.DE achieves a -14.85% return, which is significantly lower than UEFE.DE's 5.04% return.

UBUD.DE

• 1D: 0.73%
• 1M: -12.25%
• YTD: -14.85%
• 6M: -16.76%
• 1Y: 46.38%
• 3Y*: 42.38%
• 5Y*: 24.27%
• 10Y*: 12.56%

UEFE.DE

• 1D: 0.09%
• 1M: 2.81%
• YTD: 5.04%
• 6M: 5.50%
• 1Y: 12.05%
• 3Y*: 6.75%
• 5Y*: 3.40%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UBUD.DE vs. UEFE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	-14.85%	144.78%	34.71%	5.73%	0.21%	-8.24%	15.80%	40.50%	19.44%
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	5.04%	6.42%	4.70%	10.83%	-7.97%	-1.52%	-6.87%	15.85%	-7.00%

Correlation

The correlation between UBUD.DE and UEFE.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 5, 2018	0.12

Return for Risk

UBUD.DE vs. UEFE.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UBUD.DE

UBUD.DE Risk / Return Rank: 28
UBUD.DE Sharpe Ratio Rank: 29
UBUD.DE Sortino Ratio Rank: 29
UBUD.DE Omega Ratio Rank: 29
UBUD.DE Calmar Ratio Rank: 28
UBUD.DE Martin Ratio Rank: 27

UEFE.DE

UEFE.DE Risk / Return Rank: 75
UEFE.DE Sharpe Ratio Rank: 78
UEFE.DE Sortino Ratio Rank: 81
UEFE.DE Omega Ratio Rank: 80
UEFE.DE Calmar Ratio Rank: 70
UEFE.DE Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UBUD.DE vs. UEFE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.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.

	UBUD.DE	UEFE.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.18	-1.20
Sortino ratio: Return per unit of downside risk	1.47	3.18	-1.71
Omega ratio: Gain probability vs. loss probability	1.19	1.42	-0.23
Calmar ratio: Return relative to maximum drawdown	1.26	3.08	-1.81
Martin ratio: Return relative to average drawdown	3.39	10.78	-7.39

UBUD.DE vs. UEFE.DE - Sharpe Ratio Comparison

The current UBUD.DE Sharpe Ratio is 0.98, which is lower than the UEFE.DE Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of UBUD.DE and UEFE.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UBUD.DE vs. UEFE.DE - Drawdown Comparison

The maximum UBUD.DE drawdown since its inception was -71.17%, which is greater than UEFE.DE's maximum drawdown of -23.70%. Use the drawdown chart below to compare losses from any high point for UBUD.DE and UEFE.DE.

Drawdown Indicators

	UBUD.DE	UEFE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-71.17%	-23.70%	-47.47%
Max Drawdown (1Y) Largest decline over 1 year	-36.54%	-3.90%	-32.64%
Max Drawdown (3Y) Largest decline over 3 years	-36.54%	-7.95%	-28.59%
Max Drawdown (5Y) Largest decline over 5 years	-38.20%	-12.90%	-25.30%
Max Drawdown (10Y) Largest decline over 10 years	-50.30%	—	—
Current Drawdown Current decline from peak	-33.77%	0.00%	-33.77%
Average Drawdown Average peak-to-trough decline	-37.26%	-8.59%	-28.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.66%	1.12%	+12.54%

Volatility

UBUD.DE vs. UEFE.DE - Volatility Comparison

UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist (UBUD.DE) has a higher volatility of 17.53% compared to UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) at 1.50%. This indicates that UBUD.DE's price experiences larger fluctuations and is considered to be riskier than UEFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBUD.DE	UEFE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.53%	1.50%	+16.03%
Volatility (6M) Calculated over the trailing 6-month period	38.27%	4.70%	+33.57%
Volatility (1Y) Calculated over the trailing 1-year period	47.35%	5.52%	+41.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	8.08%	+28.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.05%	13.03%	+24.02%

UBUD.DE vs. UEFE.DE - Expense Ratio Comparison

UBUD.DE has a 0.43% expense ratio, which is higher than UEFE.DE's 0.40% expense ratio.

Dividends

UBUD.DE vs. UEFE.DE - Dividend Comparison

UBUD.DE's dividend yield for the trailing twelve months is around 0.76%, less than UEFE.DE's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UBUD.DE UBS ETF (IE) Solactive Global Pure Gold Miners UCITS ETF (USD) Dist	0.76%	0.44%	0.61%	1.13%	1.20%	1.38%	0.50%	0.47%	0.56%	0.54%	0.47%	1.53%
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	5.35%	5.84%	4.97%	4.52%	4.68%	4.87%	5.10%	4.88%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UBUD.DE and UEFE.DE in my portfolio?

UBUD.DE and UEFE.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UBUD.DE or UEFE.DE?

On fees, UEFE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UBUD.DE or UEFE.DE?

UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.43% for UBUD.DE.

What is the main difference between UBUD.DE and UEFE.DE?

UBUD.DE is categorized as Gold, while UEFE.DE is Emerging Markets Bonds. UBUD.DE tracks Solactive Global Pure Gold Miners, while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Their fees differ too: 0.43% for UBUD.DE and 0.40% for UEFE.DE.