UEFS.DE vs. ZPR5.DE

Last updated Apr 3, 2026

Compare and contrast key facts about UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE).

UEFS.DE and ZPR5.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UEFS.DE is a passively managed fund by UBS that tracks the performance of the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. It was launched on Jan 29, 2016. ZPR5.DE is a passively managed fund by State Street that tracks the performance of the ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a. It was launched on Nov 12, 2014. Both UEFS.DE and ZPR5.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UEFS.DE vs. ZPR5.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE). The values are adjusted to include any dividend payments, if applicable.

UEFS.DE vs. ZPR5.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist	0.79%	2.37%	13.84%	8.28%	-14.67%	5.66%	-4.70%	17.07%	0.35%	-3.07%
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	1.64%	-4.12%	11.04%	2.52%	-1.06%	7.98%	-6.72%	8.14%	4.71%	-8.80%

Returns By Period

In the year-to-date period, UEFS.DE achieves a 0.79% return, which is significantly lower than ZPR5.DE's 1.64% return. Over the past 10 years, UEFS.DE has outperformed ZPR5.DE with an annualized return of 3.63%, while ZPR5.DE has yielded a comparatively lower 2.31% annualized return.

UEFS.DE

• 1D: 0.56%
• 1M: -1.41%
• YTD: 0.79%
• 6M: 3.49%
• 1Y: 4.66%
• 3Y*: 8.11%
• 5Y*: 2.76%
• 10Y*: 3.63%

ZPR5.DE

• 1D: 0.42%
• 1M: -0.12%
• YTD: 1.64%
• 6M: 3.00%
• 1Y: -0.70%
• 3Y*: 3.61%
• 5Y*: 2.65%
• 10Y*: 2.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UEFS.DE vs. ZPR5.DE - Expense Ratio Comparison

UEFS.DE has a 0.25% expense ratio, which is lower than ZPR5.DE's 0.42% expense ratio.

ZPR5.DE

SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF

UEFS.DE

UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist

Return for Risk

UEFS.DE vs. ZPR5.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UEFS.DE

UEFS.DE Risk / Return Rank: 31
UEFS.DE Sharpe Ratio Rank: 27
UEFS.DE Sortino Ratio Rank: 23
UEFS.DE Omega Ratio Rank: 26
UEFS.DE Calmar Ratio Rank: 37
UEFS.DE Martin Ratio Rank: 44

ZPR5.DE

ZPR5.DE Risk / Return Rank: 11
ZPR5.DE Sharpe Ratio Rank: 9
ZPR5.DE Sortino Ratio Rank: 8
ZPR5.DE Omega Ratio Rank: 8
ZPR5.DE Calmar Ratio Rank: 15
ZPR5.DE Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UEFS.DE vs. ZPR5.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 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.

	UEFS.DE	ZPR5.DE	Difference
Sharpe ratio Return per unit of total volatility	0.53	-0.10	+0.63
Sortino ratio Return per unit of downside risk	0.74	-0.09	+0.82
Omega ratio Gain probability vs. loss probability	1.12	0.99	+0.13
Calmar ratio Return relative to maximum drawdown	1.24	0.29	+0.95
Martin ratio Return relative to average drawdown	5.30	0.58	+4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UEFS.DE vs. ZPR5.DE - Sharpe Ratio Comparison

The current UEFS.DE Sharpe Ratio is 0.53, which is higher than the ZPR5.DE Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of UEFS.DE and ZPR5.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UEFS.DE	ZPR5.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	-0.10	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.37	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.32	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.39	+0.03

Correlation

The correlation between UEFS.DE and ZPR5.DE is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

UEFS.DE vs. ZPR5.DE - Dividend Comparison

UEFS.DE's dividend yield for the trailing twelve months is around 6.69%, more than ZPR5.DE's 4.85% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist	6.69%	7.96%	6.14%	6.46%	6.08%	4.22%	5.09%	4.60%	4.53%	4.90%	2.30%	0.00%
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	4.85%	5.10%	4.16%	3.16%	2.54%	2.63%	3.53%	3.34%	2.73%	3.18%	2.72%	1.83%

Drawdowns

UEFS.DE vs. ZPR5.DE - Drawdown Comparison

The maximum UEFS.DE drawdown since its inception was -24.26%, 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 UEFS.DE and ZPR5.DE.

Drawdown Indicators

	UEFS.DE	ZPR5.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.26%	-14.48%	-9.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-4.62%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-9.92%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	-24.26%	-14.48%	-9.78%
Current Drawdown Current decline from peak	-1.88%	-4.74%	+2.86%
Average Drawdown Average peak-to-trough decline	-7.52%	-4.88%	-2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	2.29%	-0.88%

Volatility

UEFS.DE vs. ZPR5.DE - Volatility Comparison

UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) has a higher volatility of 2.06% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE) at 1.93%. This indicates that UEFS.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.

Volatility by Period

	UEFS.DE	ZPR5.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	1.93%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	4.10%	3.91%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	6.89%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.72%	7.07%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.45%	7.25%	+2.20%