UEFE.DE vs. ZPR6.DE
UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 5 years, UEFE.DE returned 4.93%/yr vs 0.23%/yr for ZPR6.DE. At a 0.20 correlation, their price movements are largely independent. UEFE.DE charges 0.40%/yr vs 0.47%/yr for ZPR6.DE.
Performance
UEFE.DE vs. ZPR6.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 ZPR6.DE's 0.15% 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*
- —
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.19%
- YTD
- 0.15%
- 6M
- 0.48%
- 1Y
- 3.15%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
UEFE.DE vs. ZPR6.DE - Yearly Performance Comparison
| 2026 (YTD) | 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 | 2.04% | 5.88% | 6.93% | 15.75% | -6.22% | 2.54% | -2.71% | 9.25% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | -9.09% | -1.17% | 0.69% | -0.12% |
Correlation
The correlation between UEFE.DE and ZPR6.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2019 | 0.20 |
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Return for Risk
UEFE.DE vs. ZPR6.DE — Risk / Return Rank
UEFE.DE
ZPR6.DE
UEFE.DE vs. ZPR6.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 (EUR Hedged) Acc (ZPR6.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 | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.74 | +0.32 |
| Martin ratioReturn relative to average drawdown | 7.08 | 7.22 | -0.13 |
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 | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.26 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.05 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.07 | +0.59 |
Drawdowns
UEFE.DE vs. ZPR6.DE - Drawdown Comparison
The maximum UEFE.DE drawdown since its inception was -23.72%, which is greater than ZPR6.DE's maximum drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for UEFE.DE and ZPR6.DE.
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Drawdown Indicators
| UEFE.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.72% | -13.50% | -10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -3.93% | -1.80% | -2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -8.02% | -1.80% | -6.22% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -13.50% | +1.04% |
Current DrawdownCurrent decline from peak | -1.03% | -0.37% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -4.62% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.43% | +0.71% |
Volatility
UEFE.DE vs. ZPR6.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 (EUR Hedged) Acc (ZPR6.DE) at 0.61%. This indicates that UEFE.DE's price experiences larger fluctuations and is considered to be riskier than ZPR6.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 | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 0.61% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 2.11% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.46% | 2.48% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.44% | 4.41% | +4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.82% | 5.13% | +4.69% |
UEFE.DE vs. ZPR6.DE - Expense Ratio Comparison
UEFE.DE has a 0.40% expense ratio, which is lower than ZPR6.DE's 0.47% expense ratio.
Dividends
UEFE.DE vs. ZPR6.DE - Dividend Comparison
UEFE.DE's dividend yield for the trailing twelve months is around 4.67%, while ZPR6.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% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UEFE.DE and ZPR6.DE have a correlation of 0.11, 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 0.47% for ZPR6.DE.
UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond, while ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). They also come from different issuers: UBS and State Street. Their fees differ too: 0.40% for UEFE.DE and 0.47% for ZPR6.DE.
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