VGEM.DE vs. XQUE.DE
VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov while XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). Both are passively managed. Over the past 5 years, VGEM.DE returned 2.73%/yr vs -2.64%/yr for XQUE.DE. At a 0.44 correlation, their price movements are largely independent. VGEM.DE charges 0.25%/yr vs 0.50%/yr for XQUE.DE.
Performance
VGEM.DE vs. XQUE.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 XQUE.DE's -0.31% 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*
- —
XQUE.DE
- 1D
- 0.16%
- 1M
- 0.38%
- YTD
- -0.31%
- 6M
- -0.46%
- 1Y
- 4.89%
- 3Y*
- 2.56%
- 5Y*
- -2.64%
- 10Y*
- —
VGEM.DE vs. XQUE.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 | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 15.57% | 0.84% | -1.87% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | -0.31% | 8.00% | -2.63% | 4.56% | -20.08% | -3.52% | 3.67% | 11.11% | -6.49% | 0.83% |
Correlation
The correlation between VGEM.DE and XQUE.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.44 |
The correlation between VGEM.DE and XQUE.DE shifts across timeframes, from 0.27 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VGEM.DE vs. XQUE.DE — Risk / Return Rank
VGEM.DE
XQUE.DE
VGEM.DE vs. XQUE.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 EUR Hedged (XQUE.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 | XQUE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 1.10 | +1.06 |
| Martin ratioReturn relative to average drawdown | 5.71 | 3.42 | +2.29 |
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 | XQUE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 0.96 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | -0.31 | +0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.11 | +0.40 |
Drawdowns
VGEM.DE vs. XQUE.DE - Drawdown Comparison
The maximum VGEM.DE drawdown since its inception was -19.64%, smaller than the maximum XQUE.DE drawdown of -29.15%. Use the drawdown chart below to compare losses from any high point for VGEM.DE and XQUE.DE.
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Drawdown Indicators
| VGEM.DE | XQUE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -29.15% | +9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -4.41% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -11.98% | -8.94% | -3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -12.46% | -28.28% | +15.82% |
Current DrawdownCurrent decline from peak | -2.18% | -15.48% | +13.30% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -11.68% | +5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.43% | -0.26% |
Volatility
VGEM.DE vs. XQUE.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) is 1.18%, while Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.DE) has a volatility of 1.67%. This indicates that VGEM.DE experiences smaller price fluctuations and is considered to be less risky than XQUE.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 | XQUE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.67% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 4.08% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 5.07% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 8.36% | -0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.77% | 9.00% | -0.23% |
VGEM.DE vs. XQUE.DE - Expense Ratio Comparison
VGEM.DE has a 0.25% expense ratio, which is lower than XQUE.DE's 0.50% expense ratio.
Dividends
VGEM.DE vs. XQUE.DE - Dividend Comparison
VGEM.DE's dividend yield for the trailing twelve months is around 5.06%, more than XQUE.DE's 3.79% yield.
| 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% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | 3.79% | 4.16% | 4.20% | 3.82% | 7.06% | 3.21% | 9.32% | 3.88% | 1.02% | 0.00% |
Frequently Asked Questions
VGEM.DE and XQUE.DE have a correlation of 0.27, 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 0.50% for XQUE.DE.
VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov, while XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.25% for VGEM.DE and 0.50% for XQUE.DE.
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