UEFE.DE vs. SNAZ.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, UEFE.DE returned 3.37%/yr vs -0.19%/yr for SNAZ.DE. At a 0.20 correlation, their price movements are largely independent. UEFE.DE charges 0.40%/yr vs 0.53%/yr for SNAZ.DE.
Performance
UEFE.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEFE.DE achieves a 5.13% return, which is significantly higher than SNAZ.DE's 0.59% return.
UEFE.DE
- 1D
- 0.00%
- 1M
- 0.95%
- 6M
- 3.24%
- YTD
- 5.13%
- 1Y
- 11.24%
- 3Y*
- 6.97%
- 5Y*
- 3.37%
- 10Y*
- —
SNAZ.DE
- 1D
- 0.20%
- 1M
- 0.00%
- 6M
- 0.39%
- YTD
- 0.59%
- 1Y
- 3.85%
- 3Y*
- 4.86%
- 5Y*
- -0.19%
- 10Y*
- —
UEFE.DE vs. SNAZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.13% | 6.42% | 4.70% | 10.83% | -7.97% | -1.52% | -1.13% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.59% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
Correlation
The correlation between UEFE.DE and SNAZ.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.20 |
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Return for Risk
UEFE.DE vs. SNAZ.DE — Risk / Return Rank
UEFE.DE
SNAZ.DE
UEFE.DE vs. SNAZ.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 iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
| UEFE.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.22 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 1.32 | +1.55 |
| Martin ratioReturn relative to average drawdown | 10.05 | 4.83 | +5.22 |
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Drawdowns
UEFE.DE vs. SNAZ.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.70%, which is greater than SNAZ.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and SNAZ.DE.
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Drawdown Indicators
| UEFE.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.70% | -21.88% | -1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -2.91% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -3.82% | -4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -12.90% | -21.88% | +8.98% |
Current DrawdownCurrent decline from peak | -0.26% | -1.73% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -8.53% | -7.61% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.80% | +0.32% |
Volatility
UEFE.DE vs. SNAZ.DE - Volatility Comparison
UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) has a higher volatility of 1.12% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) at 0.98%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than SNAZ.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 | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.98% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.70% | 2.77% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.53% | 3.40% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.08% | 5.06% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.99% | 7.63% | +5.36% |
UEFE.DE vs. SNAZ.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
UEFE.DE vs. SNAZ.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 5.35%, while SNAZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond 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 | 5.35% | 5.84% | 4.97% | 4.52% | 4.68% | 4.87% | 5.10% | 4.88% |
Frequently Asked Questions
UEFE.DE and SNAZ.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.53% for SNAZ.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: UBS and iShares. Their fees differ too: 0.40% for UEFE.DE and 0.53% for SNAZ.DE.
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