UEFE.DE vs. XUEM.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while XUEM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs 2.28%/yr for XUEM.DE. A 0.55 correlation means they provide meaningful diversification when combined. UEFE.DE charges 0.40%/yr vs 0.25%/yr for XUEM.DE.
Performance
UEFE.DE vs. XUEM.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 XUEM.DE's 3.29% return.
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.32%
- YTD
- 2.04%
- 6M
- 2.08%
- 1Y
- 8.10%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
XUEM.DE
- 1D
- -0.07%
- 1M
- 1.53%
- YTD
- 3.29%
- 6M
- 3.01%
- 1Y
- 9.59%
- 3Y*
- 6.62%
- 5Y*
- 2.28%
- 10Y*
- —
UEFE.DE vs. XUEM.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% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 3.29% | 0.43% | 11.58% | 6.72% | -14.47% | 4.14% | -6.64% | 17.85% | 2.68% |
Correlation
The correlation between UEFE.DE and XUEM.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.55 |
The correlation between UEFE.DE and XUEM.DE has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
UEFE.DE vs. XUEM.DE — Risk / Return Rank
UEFE.DE
XUEM.DE
UEFE.DE vs. XUEM.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 USD Emerging Markets Bond UCITS ETF 2D (XUEM.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 | XUEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.52 | -1.46 |
| Martin ratioReturn relative to average drawdown | 7.08 | 10.09 | -3.01 |
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 | XUEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.64 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.26 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.28 | +0.38 |
Drawdowns
UEFE.DE vs. XUEM.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, smaller than the maximum XUEM.DE drawdown of -26.83%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and XUEM.DE.
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Drawdown Indicators
| UEFE.DE | XUEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -26.83% | +3.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -2.72% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -13.45% | +5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -17.85% | +5.39% |
Current DrawdownCurrent decline from peak | -1.03% | -2.82% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -10.35% | +5.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.95% | +0.19% |
Volatility
UEFE.DE vs. XUEM.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 USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) at 1.06%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than XUEM.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 | XUEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 1.06% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 3.83% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 5.81% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 8.74% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 10.44% | -0.62% |
UEFE.DE vs. XUEM.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is higher than XUEM.DE's 0.25% expense ratio.
Dividends
UEFE.DE vs. XUEM.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, more than XUEM.DE's 4.46% yield.
| 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% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 4.46% | 4.97% | 6.06% | 5.00% | 5.62% | 6.82% | 4.07% | 0.54% |
Frequently Asked Questions
UEFE.DE and XUEM.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for UEFE.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while XUEM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.40% for UEFE.DE and 0.25% for XUEM.DE.
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