UEFS.DE vs. SLMG.DE
UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) and SLMG.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped while SLMG.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged). Both are passively managed. Over the past 5 years, UEFS.DE returned 3.30%/yr vs -0.86%/yr for SLMG.DE. At a 0.47 correlation, their price movements are largely independent. UEFS.DE charges 0.25%/yr vs 0.50%/yr for SLMG.DE.
Performance
UEFS.DE vs. SLMG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEFS.DE achieves a 3.71% return, which is significantly higher than SLMG.DE's 0.76% return.
UEFS.DE
- 1D
- -0.03%
- 1M
- 1.91%
- YTD
- 3.71%
- 6M
- 3.67%
- 1Y
- 11.43%
- 3Y*
- 8.56%
- 5Y*
- 3.30%
- 10Y*
- 3.55%
SLMG.DE
- 1D
- 0.40%
- 1M
- 0.80%
- YTD
- 0.76%
- 6M
- 1.17%
- 1Y
- 8.09%
- 3Y*
- 6.85%
- 5Y*
- -0.86%
- 10Y*
- —
UEFS.DE vs. SLMG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 3.71% | 2.37% | 13.84% | 8.28% | -14.67% | 5.66% | -4.70% | 1.40% |
SLMG.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc | 0.76% | 10.91% | 3.21% | 7.05% | -21.25% | -3.90% | 4.76% | 1.77% |
Correlation
The correlation between UEFS.DE and SLMG.DE is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2019 | 0.47 |
The correlation between UEFS.DE and SLMG.DE shifts across timeframes, from 0.33 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UEFS.DE vs. SLMG.DE — Risk / Return Rank
UEFS.DE
SLMG.DE
UEFS.DE vs. SLMG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) and iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.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.
| UEFS.DE | SLMG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.28 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 1.70 | +2.27 |
| Martin ratioReturn relative to average drawdown | 12.59 | 6.65 | +5.94 |
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
| UEFS.DE | SLMG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 1.44 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | -0.10 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | -0.01 | +0.45 |
Drawdowns
UEFS.DE vs. SLMG.DE - Drawdown Comparison
The maximum UEFS.DE drawdown since its inception was -24.26%, smaller than the maximum SLMG.DE drawdown of -31.13%. Use the drawdown chart below to compare losses from any high point for UEFS.DE and SLMG.DE.
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Drawdown Indicators
| UEFS.DE | SLMG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.26% | -31.13% | +6.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -4.74% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.70% | -7.88% | -5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -17.84% | -30.75% | +12.91% |
Max Drawdown (10Y)Largest decline over 10 years | -24.26% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -6.55% | +6.52% |
Average DrawdownAverage peak-to-trough decline | -7.41% | -12.84% | +5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.21% | -0.30% |
Volatility
UEFS.DE vs. SLMG.DE - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) is 1.27%, while iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.DE) has a volatility of 1.96%. This indicates that UEFS.DE experiences smaller price fluctuations and is considered to be less risky than SLMG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEFS.DE | SLMG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.96% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 4.58% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 5.61% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 8.36% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 9.69% | -0.32% |
UEFS.DE vs. SLMG.DE - Expense Ratio Comparison
UEFS.DE has a 0.25% expense ratio, which is lower than SLMG.DE's 0.50% expense ratio.
Dividends
UEFS.DE vs. SLMG.DE - Dividend Comparison
UEFS.DE's dividend yield for the trailing twelve months is around 6.50%, while SLMG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SLMG.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.50% | 7.96% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
UEFS.DE and SLMG.DE have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFS.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for SLMG.DE.
UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped, while SLMG.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged). They also come from different issuers: UBS and iShares. Their fees differ too: 0.25% for UEFS.DE and 0.50% for SLMG.DE.
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