UEFE.DE vs. SYBM.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and SYBM.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while SYBM.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs 1.45%/yr for SYBM.DE. A 0.72 correlation means they provide meaningful diversification when combined. UEFE.DE charges 0.40%/yr vs 0.55%/yr for SYBM.DE.
Performance
UEFE.DE vs. SYBM.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 higher than SYBM.DE's 0.49% 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*
- —
SYBM.DE
- 1D
- -0.05%
- 1M
- -0.24%
- YTD
- 0.49%
- 6M
- 0.42%
- 1Y
- 3.27%
- 3Y*
- 2.54%
- 5Y*
- 1.45%
- 10Y*
- 1.75%
UEFE.DE vs. SYBM.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% |
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.49% | 2.47% | 3.13% | 5.78% | -4.57% | -0.95% | -5.71% | 14.77% | 5.86% |
Correlation
The correlation between UEFE.DE and SYBM.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.72 |
The correlation between UEFE.DE and SYBM.DE has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
UEFE.DE vs. SYBM.DE — Risk / Return Rank
UEFE.DE
SYBM.DE
UEFE.DE vs. SYBM.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 SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.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 | SYBM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.12 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 0.87 | +1.18 |
| Martin ratioReturn relative to average drawdown | 7.08 | 2.69 | +4.40 |
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 | SYBM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.67 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.21 | +0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.23 | +0.43 |
Drawdowns
UEFE.DE vs. SYBM.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, which is greater than SYBM.DE's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and SYBM.DE.
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Drawdown Indicators
| UEFE.DE | SYBM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -19.16% | -4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -3.90% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -7.62% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -8.64% | -3.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.36% | — |
Current DrawdownCurrent decline from peak | -1.03% | -3.09% | +2.06% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -7.10% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.26% | -0.12% |
Volatility
UEFE.DE vs. SYBM.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 1.93% compared to SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.DE) at 1.51%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than SYBM.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 | SYBM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.51% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 4.22% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 5.07% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 6.94% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 7.82% | +2.00% |
UEFE.DE vs. SYBM.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than SYBM.DE's 0.55% expense ratio.
Dividends
UEFE.DE vs. SYBM.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, less than SYBM.DE's 5.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 5.07% | 5.01% | 4.77% | 4.21% | 4.29% | 3.89% | 4.12% | 4.34% | 4.13% | 5.01% | 4.30% | 5.26% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UEFE.DE and SYBM.DE have a correlation of 0.78, 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 0.55% for SYBM.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while SYBM.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. They also come from different issuers: UBS and State Street. Their fees differ too: 0.40% for UEFE.DE and 0.55% for SYBM.DE.
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