UEFE.DE vs. XQUD.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. Both are passively managed. Over the past 3 years, UEFE.DE returned 7.16%/yr vs 2.35%/yr for XQUD.DE. A 0.52 correlation means they provide meaningful diversification when combined. UEFE.DE charges 0.40%/yr vs 0.45%/yr for XQUD.DE.
Performance
UEFE.DE vs. XQUD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UEFE.DE having a 2.04% return and XQUD.DE slightly lower at 1.98%.
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.09%
- YTD
- 2.04%
- 6M
- 2.04%
- 1Y
- 7.90%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.09%
- YTD
- 1.98%
- 6M
- 0.94%
- 1Y
- 6.30%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
UEFE.DE vs. XQUD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
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% | 0.82% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 1.98% | -1.36% | 5.23% | 3.70% | -0.16% |
Correlation
The correlation between UEFE.DE and XQUD.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.52 |
The correlation between UEFE.DE and XQUD.DE has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
UEFE.DE vs. XQUD.DE — Risk / Return Rank
UEFE.DE
XQUD.DE
UEFE.DE vs. XQUD.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.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 | XQUD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.19 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.56 | +0.49 |
| Martin ratioReturn relative to average drawdown | 7.08 | 4.64 | +2.45 |
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 | XQUD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.04 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.29 | +0.37 |
Drawdowns
UEFE.DE vs. XQUD.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, which is greater than XQUD.DE's maximum drawdown of -12.01%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and XQUD.DE.
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Drawdown Indicators
| UEFE.DE | XQUD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -12.01% | -11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -3.84% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -11.40% | +3.38% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -2.99% | +1.96% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -5.54% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.30% | -0.16% |
Volatility
UEFE.DE vs. XQUD.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) at 1.12%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than XQUD.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 | XQUD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.12% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 3.74% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 5.77% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 7.98% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 7.98% | +1.84% |
UEFE.DE vs. XQUD.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than XQUD.DE's 0.45% expense ratio.
Dividends
UEFE.DE vs. XQUD.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, while XQUD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UEFE.DE and XQUD.DE have a correlation of 0.56, 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 0.45% for XQUD.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.40% for UEFE.DE and 0.45% for XQUD.DE.
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