UIM4.DE vs. XESD.DE

Last updated Jun 26, 2026

UIM4.DE (UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - UIM4.DE tracks the MSCI EMU while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, UIM4.DE returned 11.47%/yr vs 14.01%/yr for XESD.DE. Their correlation of 0.84 suggests significant overlap in exposure. UIM4.DE charges 0.12%/yr vs 0.30%/yr for XESD.DE.

Performance

UIM4.DE vs. XESD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis (UIM4.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UIM4.DE achieves a 11.84% return, which is significantly lower than XESD.DE's 14.69% return. Over the past 10 years, UIM4.DE has underperformed XESD.DE with an annualized return of 11.47%, while XESD.DE has yielded a comparatively higher 14.01% annualized return.

UIM4.DE

• 1D: 0.74%
• 1M: 3.07%
• YTD: 11.84%
• 6M: 12.74%
• 1Y: 24.18%
• 3Y*: 17.45%
• 5Y*: 10.91%
• 10Y*: 11.47%

XESD.DE

• 1D: 0.62%
• 1M: 6.78%
• YTD: 14.69%
• 6M: 15.76%
• 1Y: 47.75%
• 3Y*: 32.29%
• 5Y*: 20.35%
• 10Y*: 14.01%

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

UIM4.DE vs. XESD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UIM4.DE UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis	11.84%	24.73%	9.53%	18.91%	-11.89%	21.97%	-0.72%	27.27%	-12.97%	13.08%
XESD.DE Xtrackers Spanish Equity UCITS ETF	14.69%	58.72%	14.57%	26.76%	-1.63%	10.91%	-10.10%	15.69%	-12.39%	12.92%

Correlation

The correlation between UIM4.DE and XESD.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013	0.84

The correlation between UIM4.DE and XESD.DE has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

UIM4.DE vs. XESD.DE — Risk / Return Rank

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

UIM4.DE

UIM4.DE Risk / Return Rank: 56
UIM4.DE Sharpe Ratio Rank: 55
UIM4.DE Sortino Ratio Rank: 58
UIM4.DE Omega Ratio Rank: 55
UIM4.DE Calmar Ratio Rank: 55
UIM4.DE Martin Ratio Rank: 56

XESD.DE

XESD.DE Risk / Return Rank: 90
XESD.DE Sharpe Ratio Rank: 92
XESD.DE Sortino Ratio Rank: 91
XESD.DE Omega Ratio Rank: 90
XESD.DE Calmar Ratio Rank: 88
XESD.DE Martin Ratio Rank: 87

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.

UIM4.DE vs. XESD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis (UIM4.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.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.

	UIM4.DE	XESD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.80	-1.16
Sortino ratio: Return per unit of downside risk	2.44	3.73	-1.29
Omega ratio: Gain probability vs. loss probability	1.31	1.50	-0.19
Calmar ratio: Return relative to maximum drawdown	2.38	4.62	-2.24
Martin ratio: Return relative to average drawdown	8.80	16.31	-7.51

UIM4.DE vs. XESD.DE - Sharpe Ratio Comparison

The current UIM4.DE Sharpe Ratio is 1.65, which is lower than the XESD.DE Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of UIM4.DE and XESD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UIM4.DE vs. XESD.DE - Drawdown Comparison

The maximum UIM4.DE drawdown since its inception was -58.61%, which is greater than XESD.DE's maximum drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for UIM4.DE and XESD.DE.

Drawdown Indicators

	UIM4.DE	XESD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-58.61%	-38.76%	-19.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.11%	-10.28%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-15.21%	-12.49%	-2.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.54%	-18.55%	-5.99%
Max Drawdown (10Y) Largest decline over 10 years	-38.32%	-38.76%	+0.44%
Current Drawdown Current decline from peak	-0.73%	-0.18%	-0.55%
Average Drawdown Average peak-to-trough decline	-16.25%	-8.46%	-7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.92%	-0.18%

Volatility

UIM4.DE vs. XESD.DE - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis (UIM4.DE) is 3.46%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.05%. This indicates that UIM4.DE experiences smaller price fluctuations and is considered to be less risky than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UIM4.DE	XESD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	4.05%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	12.25%	14.41%	-2.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	17.06%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	16.77%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	18.49%	-1.62%

UIM4.DE vs. XESD.DE - Expense Ratio Comparison

UIM4.DE has a 0.12% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.

Dividends

UIM4.DE vs. XESD.DE - Dividend Comparison

UIM4.DE's dividend yield for the trailing twelve months is around 2.40%, more than XESD.DE's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UIM4.DE UBS ETF (LU) MSCI EMU UCITS ETF (EUR) A-dis	2.40%	2.52%	2.71%	2.69%	2.84%	1.83%	1.58%	2.66%	3.26%	2.51%	2.57%	2.99%
XESD.DE Xtrackers Spanish Equity UCITS ETF	2.34%	2.43%	3.14%	2.56%	3.98%	1.51%	4.30%	3.35%	4.48%	2.51%	1.14%	0.42%

Frequently Asked Questions

Can I hold both UIM4.DE and XESD.DE in my portfolio?

UIM4.DE and XESD.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UIM4.DE or XESD.DE?

On fees, UIM4.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UIM4.DE or XESD.DE?

UIM4.DE is cheaper with a 0.12% expense ratio, compared with 0.30% for XESD.DE.

What is the main difference between UIM4.DE and XESD.DE?

UIM4.DE tracks MSCI EMU, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.12% for UIM4.DE and 0.30% for XESD.DE.