UEFE.DE vs. BCFE.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and BCFE.DE (UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - UEFE.DE is a Emerging Markets Bonds fund tracking the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while BCFE.DE is a Commodities fund tracking the UBS BCOM Constant Maturity (EUR Hedged). Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs 9.76%/yr for BCFE.DE. At a 0.11 correlation, their price movements are largely independent. UEFE.DE charges 0.40%/yr vs 0.34%/yr for BCFE.DE.
Performance
UEFE.DE vs. BCFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEFE.DE achieves a 2.04% return, which is significantly lower than BCFE.DE's 17.15% return.
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.09%
- YTD
- 2.04%
- 6M
- 2.04%
- 1Y
- 7.90%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
BCFE.DE
- 1D
- -1.12%
- 1M
- -0.08%
- YTD
- 17.15%
- 6M
- 18.41%
- 1Y
- 28.89%
- 3Y*
- 12.43%
- 5Y*
- 9.76%
- 10Y*
- —
UEFE.DE vs. BCFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 2.04% | 5.88% | 6.93% | 15.75% | -6.22% | 2.54% | -2.71% | 21.27% | 7.49% |
BCFE.DE UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc | 17.15% | 16.62% | 3.14% | -7.92% | 14.03% | 30.33% | -0.98% | 3.51% | -5.56% |
Correlation
The correlation between UEFE.DE and BCFE.DE is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.11 |
The correlation between UEFE.DE and BCFE.DE shifts across timeframes, from -0.07 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UEFE.DE vs. BCFE.DE — Risk / Return Rank
UEFE.DE
BCFE.DE
UEFE.DE vs. BCFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) and UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.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.
| UEFE.DE | BCFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.40 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 4.83 | -2.78 |
| Martin ratioReturn relative to average drawdown | 7.08 | 11.89 | -4.81 |
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
| UEFE.DE | BCFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.14 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.55 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.49 | +0.17 |
Drawdowns
UEFE.DE vs. BCFE.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, smaller than the maximum BCFE.DE drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and BCFE.DE.
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Drawdown Indicators
| UEFE.DE | BCFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -32.93% | +9.21% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -6.14% | +2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -11.00% | +2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -27.28% | +14.82% |
Current DrawdownCurrent decline from peak | -1.03% | -4.36% | +3.33% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -13.69% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 2.50% | -1.36% |
Volatility
UEFE.DE vs. BCFE.DE - Volatility Comparison
The current volatility for UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) is 1.93%, while UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.DE) has a volatility of 4.33%. This indicates that UEFE.DE experiences smaller price fluctuations and is considered to be less risky than BCFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEFE.DE | BCFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 4.33% | -2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 12.10% | -7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 13.88% | -8.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 17.51% | -9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 15.30% | -5.48% |
UEFE.DE vs. BCFE.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is higher than BCFE.DE's 0.34% expense ratio.
Dividends
UEFE.DE vs. BCFE.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, while BCFE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BCFE.DE UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% |
Frequently Asked Questions
UEFE.DE and BCFE.DE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BCFE.DE is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BCFE.DE is cheaper with a 0.34% expense ratio, compared with 0.40% for UEFE.DE.
UEFE.DE is categorized as Emerging Markets Bonds, while BCFE.DE is Commodities. UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while BCFE.DE tracks UBS BCOM Constant Maturity (EUR Hedged). Their fees differ too: 0.40% for UEFE.DE and 0.34% for BCFE.DE.
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