UEFS.DE vs. SNAZ.DE
UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) and SNAZ.DE (iShares J.P. Morgan $ EM Corp 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 SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, UEFS.DE returned 2.96%/yr vs -0.19%/yr for SNAZ.DE. At a 0.36 correlation, their price movements are largely independent. UEFS.DE charges 0.25%/yr vs 0.53%/yr for SNAZ.DE.
Performance
UEFS.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEFS.DE achieves a 5.74% return, which is significantly higher than SNAZ.DE's 0.59% return.
UEFS.DE
- 1D
- 0.12%
- 1M
- 0.96%
- 6M
- 4.73%
- YTD
- 5.74%
- 1Y
- 13.72%
- 3Y*
- 9.67%
- 5Y*
- 2.96%
- 10Y*
- 3.04%
SNAZ.DE
- 1D
- 0.20%
- 1M
- 0.00%
- 6M
- 0.39%
- YTD
- 0.59%
- 1Y
- 3.85%
- 3Y*
- 4.86%
- 5Y*
- -0.19%
- 10Y*
- —
UEFS.DE vs. SNAZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 5.74% | 2.26% | 13.85% | 8.27% | -14.71% | 5.65% | -3.94% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.59% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
Correlation
The correlation between UEFS.DE and SNAZ.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.36 |
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Return for Risk
UEFS.DE vs. SNAZ.DE — Risk / Return Rank
UEFS.DE
SNAZ.DE
UEFS.DE vs. SNAZ.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 $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UEFS.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.22 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | 1.32 | +3.35 |
| Martin ratioReturn relative to average drawdown | 14.28 | 4.83 | +9.46 |
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Drawdowns
UEFS.DE vs. SNAZ.DE - Drawdown Comparison
The maximum UEFS.DE drawdown since its inception was -24.33%, which is greater than SNAZ.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for UEFS.DE and SNAZ.DE.
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Drawdown Indicators
| UEFS.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.33% | -21.88% | -2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -2.91% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -13.71% | -3.82% | -9.89% |
Max Drawdown (5Y)Largest decline over 5 years | -17.81% | -21.88% | +4.07% |
Max Drawdown (10Y)Largest decline over 10 years | -24.33% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | -1.73% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -7.61% | -1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.80% | +0.16% |
Volatility
UEFS.DE vs. SNAZ.DE - Volatility Comparison
UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) has a higher volatility of 1.56% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) at 0.98%. This indicates that UEFS.DE's price experiences larger fluctuations and is considered to be riskier than SNAZ.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 | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 0.98% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 2.77% | +1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 3.40% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.73% | 5.06% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.92% | 7.63% | +5.29% |
UEFS.DE vs. SNAZ.DE - Expense Ratio Comparison
UEFS.DE has a 0.25% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
UEFS.DE vs. SNAZ.DE - Dividend Comparison
UEFS.DE's dividend yield for the trailing twelve months is around 6.39%, while SNAZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp 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 | 6.39% | 7.97% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
UEFS.DE and SNAZ.DE have a correlation of 0.28, 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 0.53% for SNAZ.DE.
UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped, while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: UBS and iShares. Their fees differ too: 0.25% for UEFS.DE and 0.53% for SNAZ.DE.
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