VGEM.DE vs. LYQS.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index. Both are passively managed. Over the past 5 years, VGEM.DE returned 2.83%/yr vs 1.45%/yr for LYQS.DE. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
VGEM.DE vs. LYQS.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VGEM.DE having a 4.62% return and LYQS.DE slightly higher at 4.68%.
VGEM.DE
- 1D
- 0.13%
- 1M
- 0.79%
- 6M
- 3.84%
- YTD
- 4.62%
- 1Y
- 10.32%
- 3Y*
- 7.47%
- 5Y*
- 2.83%
- 10Y*
- —
LYQS.DE
- 1D
- 0.06%
- 1M
- 0.64%
- 6M
- 4.04%
- YTD
- 4.68%
- 1Y
- 11.26%
- 3Y*
- 6.19%
- 5Y*
- 1.45%
- 10Y*
- 1.35%
VGEM.DE vs. LYQS.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 | 4.62% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -3.40% | 16.11% | 1.51% | -2.67% |
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 4.68% | 0.04% | 6.43% | 5.45% | -11.25% | 5.76% | -5.23% | 17.03% | -0.39% | -0.73% |
Correlation
The correlation between VGEM.DE and LYQS.DE is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.81 |
The correlation between VGEM.DE and LYQS.DE has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
VGEM.DE vs. LYQS.DE — Risk / Return Rank
VGEM.DE
LYQS.DE
VGEM.DE vs. LYQS.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 Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.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 | LYQS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.36 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 4.01 | -0.54 |
| Martin ratioReturn relative to average drawdown | 9.67 | 12.39 | -2.72 |
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Drawdowns
VGEM.DE vs. LYQS.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum LYQS.DE drawdown of -33.51%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and LYQS.DE.
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Drawdown Indicators
| VGEM.DE | LYQS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -33.51% | +13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.80% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -11.92% | -12.78% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -12.13% | -16.18% | +4.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.61% | — |
Current DrawdownCurrent decline from peak | -1.11% | -1.53% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -12.90% | +7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.91% | +0.15% |
Volatility
VGEM.DE vs. LYQS.DE - Volatility Comparison
Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a higher volatility of 1.58% compared to Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) at 1.49%. This indicates that VGEM.DE's price experiences larger fluctuations and is considered to be riskier than LYQS.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 | LYQS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | 1.49% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.12% | 4.00% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 5.95% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.90% | 9.62% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.75% | 17.02% | -8.27% |
VGEM.DE vs. LYQS.DE - Expense Ratio Comparison
Both VGEM.DE and LYQS.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VGEM.DE vs. LYQS.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.80%, more than LYQS.DE's 5.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.12% | 5.36% | 3.57% | 6.06% | 6.00% | 4.33% | 4.48% | 5.10% | 5.08% | 5.40% | 5.15% | 6.61% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.80% | 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 LYQS.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE and LYQS.DE have the same expense ratio: 0.25% per year.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index. They also come from different issuers: Vanguard and Amundi.
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