UEFE.DE vs. XQUE.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs -2.64%/yr for XQUE.DE. At a 0.29 correlation, their price movements are largely independent. UEFE.DE charges 0.40%/yr vs 0.50%/yr for XQUE.DE.
Performance
UEFE.DE vs. XQUE.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 XQUE.DE's -0.31% 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*
- —
XQUE.DE
- 1D
- 0.16%
- 1M
- -0.09%
- YTD
- -0.31%
- 6M
- -0.44%
- 1Y
- 4.92%
- 3Y*
- 2.56%
- 5Y*
- -2.64%
- 10Y*
- —
UEFE.DE vs. XQUE.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% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | -0.31% | 8.00% | -2.63% | 4.56% | -20.08% | -3.52% | 3.67% | 11.11% | 0.87% |
Correlation
The correlation between UEFE.DE and XQUE.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 | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.29 |
The correlation between UEFE.DE and XQUE.DE shifts across timeframes, from 0.18 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UEFE.DE vs. XQUE.DE — Risk / Return Rank
UEFE.DE
XQUE.DE
UEFE.DE vs. XQUE.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 EUR Hedged (XQUE.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 | XQUE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.17 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.10 | +0.95 |
| Martin ratioReturn relative to average drawdown | 7.08 | 3.42 | +3.67 |
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 | XQUE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.96 | +0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | -0.31 | +0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | -0.11 | +0.77 |
Drawdowns
UEFE.DE vs. XQUE.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, smaller than the maximum XQUE.DE drawdown of -29.15%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and XQUE.DE.
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Drawdown Indicators
| UEFE.DE | XQUE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -29.15% | +5.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -4.41% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -8.94% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -28.28% | +15.82% |
Current DrawdownCurrent decline from peak | -1.03% | -15.48% | +14.45% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -11.68% | +7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.43% | -0.29% |
Volatility
UEFE.DE vs. XQUE.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 EUR Hedged (XQUE.DE) at 1.67%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than XQUE.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 | XQUE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.67% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 4.08% | +0.56% |
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% | 8.36% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 9.00% | +0.82% |
UEFE.DE vs. XQUE.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than XQUE.DE's 0.50% expense ratio.
Dividends
UEFE.DE vs. XQUE.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, more than XQUE.DE's 3.79% yield.
| Position | TTM | 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 | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% | 0.00% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | 3.79% | 4.16% | 4.20% | 3.82% | 7.06% | 3.21% | 9.32% | 3.88% | 1.02% |
Frequently Asked Questions
UEFE.DE and XQUE.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 0.50% for XQUE.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.40% for UEFE.DE and 0.50% for XQUE.DE.
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