UEFE.DE vs. ZPR5.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and ZPR5.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while ZPR5.DE tracks the ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs 3.18%/yr for ZPR5.DE. At a 0.42 correlation, their price movements are largely independent. UEFE.DE charges 0.40%/yr vs 0.42%/yr for ZPR5.DE.
Performance
UEFE.DE vs. ZPR5.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with UEFE.DE having a 2.04% return and ZPR5.DE slightly higher at 2.14%.
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.09%
- YTD
- 2.04%
- 6M
- 2.04%
- 1Y
- 7.90%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
ZPR5.DE
- 1D
- -0.10%
- 1M
- 1.03%
- YTD
- 2.14%
- 6M
- 1.53%
- 1Y
- 3.84%
- 3Y*
- 3.25%
- 5Y*
- 3.18%
- 10Y*
- 2.25%
UEFE.DE vs. ZPR5.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% |
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 2.14% | -4.12% | 11.04% | 2.52% | -1.06% | 7.98% | -6.72% | 8.14% | 2.68% |
Correlation
The correlation between UEFE.DE and ZPR5.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.42 |
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Return for Risk
UEFE.DE vs. ZPR5.DE — Risk / Return Rank
UEFE.DE
ZPR5.DE
UEFE.DE vs. ZPR5.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 ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.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 | ZPR5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.11 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.11 | +0.95 |
| Martin ratioReturn relative to average drawdown | 7.08 | 2.73 | +4.36 |
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 | ZPR5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.65 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.45 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.39 | +0.27 |
Drawdowns
UEFE.DE vs. ZPR5.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, which is greater than ZPR5.DE's maximum drawdown of -14.48%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and ZPR5.DE.
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Drawdown Indicators
| UEFE.DE | ZPR5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -14.48% | -9.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -3.21% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -9.72% | +1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -9.92% | -2.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.48% | — |
Current DrawdownCurrent decline from peak | -1.03% | -4.28% | +3.25% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -4.88% | +0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.30% | -0.16% |
Volatility
UEFE.DE vs. ZPR5.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 ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE) at 0.96%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than ZPR5.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 | ZPR5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 0.96% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 3.56% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 5.43% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 7.04% | +1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 7.20% | +2.62% |
UEFE.DE vs. ZPR5.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than ZPR5.DE's 0.42% expense ratio.
Dividends
UEFE.DE vs. ZPR5.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, less than ZPR5.DE's 4.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 4.83% | 5.10% | 4.16% | 3.16% | 2.54% | 2.63% | 3.53% | 3.34% | 2.73% | 3.18% | 2.72% | 1.83% |
Frequently Asked Questions
UEFE.DE and ZPR5.DE have a correlation of 0.46, 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 0.42% for ZPR5.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while ZPR5.DE tracks ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. They also come from different issuers: UBS and State Street. Their fees differ too: 0.40% for UEFE.DE and 0.42% for ZPR5.DE.
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