VGEM.DE vs. EMIE.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and EMIE.DE (UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while EMIE.DE tracks the JP Morgan USD Emerging Markets IG ESG Diversified Bond (EUR Hedged). Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs -2.28%/yr for EMIE.DE. At a 0.42 correlation, their price movements are largely independent. VGEM.DE charges 0.25%/yr vs 0.43%/yr for EMIE.DE.
Performance
VGEM.DE vs. EMIE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly higher than EMIE.DE's -0.43% return.
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
EMIE.DE
- 1D
- 0.18%
- 1M
- 0.27%
- YTD
- -0.43%
- 6M
- -0.44%
- 1Y
- 3.98%
- 3Y*
- 2.76%
- 5Y*
- -2.28%
- 10Y*
- —
VGEM.DE vs. EMIE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 1.90% |
EMIE.DE UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (EUR Hedged) Acc | -0.43% | 7.05% | -0.36% | 3.88% | -19.72% | -2.93% | 6.95% | 2.47% |
Correlation
The correlation between VGEM.DE and EMIE.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2019 | 0.42 |
The correlation between VGEM.DE and EMIE.DE shifts across timeframes, from 0.24 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VGEM.DE vs. EMIE.DE — Risk / Return Rank
VGEM.DE
EMIE.DE
VGEM.DE vs. EMIE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (EUR Hedged) Acc (EMIE.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.
| VGEM.DE | EMIE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.12 | +1.04 |
| Martin ratioReturn relative to average drawdown | 5.71 | 3.63 | +2.08 |
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
| VGEM.DE | EMIE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.07 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | -0.34 | +0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.11 | +0.40 |
Drawdowns
VGEM.DE vs. EMIE.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum EMIE.DE drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and EMIE.DE.
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Drawdown Indicators
| VGEM.DE | EMIE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -26.98% | +7.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.53% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -6.97% | -5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -25.83% | +13.37% |
Current DrawdownCurrent decline from peak | -2.18% | -14.02% | +11.84% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -12.69% | +6.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.09% | +0.08% |
Volatility
VGEM.DE vs. EMIE.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.18%, while UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (EUR Hedged) Acc (EMIE.DE) has a volatility of 1.28%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than EMIE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEM.DE | EMIE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.28% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 2.83% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 3.73% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 6.67% | +1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 7.95% | +0.82% |
VGEM.DE vs. EMIE.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is lower than EMIE.DE's 0.43% expense ratio.
Dividends
VGEM.DE vs. EMIE.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, while EMIE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMIE.DE UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified 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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
VGEM.DE and EMIE.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.43% for EMIE.DE.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while EMIE.DE tracks JP Morgan USD Emerging Markets IG ESG Diversified Bond (EUR Hedged). They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.25% for VGEM.DE and 0.43% for EMIE.DE.
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