VGEM.DE vs. EXSA.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and EXSA.DE (iShares STOXX Europe 600 UCITS ETF (DE)) are both exchange-traded funds - VGEM.DE is a Emerging Markets Bonds fund tracking the Bloomberg EM USD Sovereign + Quasi-Sov, while EXSA.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 5 years, VGEM.DE returned 3.39%/yr vs 9.94%/yr for EXSA.DE. At a 0.24 correlation, their price movements are largely independent. VGEM.DE charges 0.25%/yr vs 0.20%/yr for EXSA.DE.
Performance
VGEM.DE vs. EXSA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEM.DE achieves a 5.57% return, which is significantly lower than EXSA.DE's 10.34% return.
VGEM.DE
- 1D
- -0.21%
- 1M
- 3.66%
- YTD
- 5.57%
- 6M
- 5.82%
- 1Y
- 11.69%
- 3Y*
- 7.09%
- 5Y*
- 3.39%
- 10Y*
- —
EXSA.DE
- 1D
- 0.77%
- 1M
- 2.12%
- YTD
- 10.34%
- 6M
- 11.08%
- 1Y
- 22.39%
- 3Y*
- 15.45%
- 5Y*
- 9.94%
- 10Y*
- 10.56%
VGEM.DE vs. EXSA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.57% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -3.40% | 16.11% | 1.51% | -2.67% |
EXSA.DE iShares STOXX Europe 600 UCITS ETF (DE) | 10.34% | 20.48% | 8.50% | 15.48% | -10.35% | 24.57% | -1.78% | 28.40% | -11.06% | 0.86% |
Correlation
The correlation between VGEM.DE and EXSA.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.24 |
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Return for Risk
VGEM.DE vs. EXSA.DE — Risk / Return Rank
VGEM.DE
EXSA.DE
VGEM.DE vs. EXSA.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 iShares STOXX Europe 600 UCITS ETF (DE) (EXSA.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.
| VGEM.DE | EXSA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 2.31 | +1.61 |
| Martin ratioReturn relative to average drawdown | 11.15 | 8.89 | +2.25 |
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Drawdowns
VGEM.DE vs. EXSA.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum EXSA.DE drawdown of -58.34%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and EXSA.DE.
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Drawdown Indicators
| VGEM.DE | EXSA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -58.34% | +38.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -9.64% | +6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -11.92% | -16.33% | +4.41% |
Max Drawdown (5Y)Largest decline over 5 years | -12.13% | -20.69% | +8.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.69% | — |
Current DrawdownCurrent decline from peak | -0.21% | 0.00% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -11.46% | +5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.51% | -1.46% |
Volatility
VGEM.DE vs. EXSA.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.63%, while iShares STOXX Europe 600 UCITS ETF (DE) (EXSA.DE) has a volatility of 2.89%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than EXSA.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 | EXSA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 2.89% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.17% | 10.84% | -6.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 13.00% | -6.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.91% | 14.43% | -6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 15.48% | -6.71% |
VGEM.DE vs. EXSA.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is higher than EXSA.DE's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGEM.DE vs. EXSA.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.74%, more than EXSA.DE's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXSA.DE iShares STOXX Europe 600 UCITS ETF (DE) | 2.48% | 2.54% | 2.79% | 2.68% | 2.76% | 2.22% | 1.85% | 2.87% | 2.94% | 4.42% | 3.42% | 2.97% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.74% | 6.30% | 5.65% | 5.56% | 5.08% | 3.73% | 4.53% | 4.32% | 4.51% | 0.80% | 0.00% | 0.00% |
Frequently Asked Questions
VGEM.DE and EXSA.DE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXSA.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXSA.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for VGEM.DE.
VGEM.DE is categorized as Emerging Markets Bonds, while EXSA.DE is Europe Equities. VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while EXSA.DE tracks STOXX® Europe 600. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VGEM.DE and 0.20% for EXSA.DE.
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