VGEM.DE vs. XQUD.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. Both are passively managed. Over the past 3 years, VGEM.DE returned 5.24%/yr vs 2.35%/yr for XQUD.DE. Their correlation of 0.90 suggests significant overlap in exposure. VGEM.DE charges 0.25%/yr vs 0.45%/yr for XQUD.DE.
Performance
VGEM.DE vs. XQUD.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VGEM.DE achieves a 2.34% return, which is significantly higher than XQUD.DE's 1.98% 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*
- —
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
VGEM.DE vs. XQUD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | 1.18% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 1.98% | -1.36% | 5.23% | 3.70% | -0.16% |
Correlation
The correlation between VGEM.DE and XQUD.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.90 |
The correlation between VGEM.DE and XQUD.DE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VGEM.DE vs. XQUD.DE — Risk / Return Rank
VGEM.DE
XQUD.DE
VGEM.DE vs. XQUD.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.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 | XQUD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.56 | +0.60 |
| Martin ratioReturn relative to average drawdown | 5.71 | 4.64 | +1.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VGEM.DE | XQUD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.04 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.29 | -0.01 |
Drawdowns
VGEM.DE vs. XQUD.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, which is greater than XQUD.DE's maximum drawdown of -12.01%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and XQUD.DE.
Loading charts...
Drawdown Indicators
| VGEM.DE | XQUD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -12.01% | -7.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -3.84% | +0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -11.40% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | — | — |
Current DrawdownCurrent decline from peak | -2.18% | -2.99% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -5.54% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.30% | -0.13% |
Volatility
VGEM.DE vs. XQUD.DE - Volatility Comparison
Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a higher volatility of 1.18% compared to Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) at 1.12%. This indicates that VGEM.DE's price experiences larger fluctuations and is considered to be riskier than XQUD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VGEM.DE | XQUD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.12% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 3.74% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 5.77% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 7.98% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 7.98% | +0.79% |
VGEM.DE vs. XQUD.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is lower than XQUD.DE's 0.45% expense ratio.
Dividends
VGEM.DE vs. XQUD.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, while XQUD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGEM.DE and XQUD.DE have a correlation of 0.86, 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 0.45% for XQUD.DE.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.25% for VGEM.DE and 0.45% for XQUD.DE.
Find the right allocation for VGEM.DE and XQUD.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer