XBAK.DE vs. AXQT.DE
XBAK.DE (Xtrackers MSCI Pakistan Swap UCITS ETF (Acc)) and AXQT.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc) are both Emerging Markets Equities funds - XBAK.DE tracks the MSCI Pakistan Investable Market Index while AXQT.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned. Both are passively managed. Over the past year, XBAK.DE returned 35.00% vs 60.34% for AXQT.DE. At a 0.29 correlation, their price movements are largely independent. XBAK.DE charges 0.85%/yr vs 0.27%/yr for AXQT.DE.
Performance
XBAK.DE vs. AXQT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBAK.DE achieves a 5.19% return, which is significantly lower than AXQT.DE's 39.53% return.
XBAK.DE
- 1D
- 0.62%
- 1M
- 10.20%
- 6M
- 2.53%
- YTD
- 5.19%
- 1Y
- 35.00%
- 3Y*
- 41.08%
- 5Y*
- 10.75%
- 10Y*
- -1.05%
AXQT.DE
- 1D
- 0.00%
- 1M
- -1.89%
- 6M
- 37.17%
- YTD
- 39.53%
- 1Y
- 60.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XBAK.DE vs. AXQT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XBAK.DE Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) | 5.19% | 26.23% |
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc | 39.53% | 24.51% |
Correlation
The correlation between XBAK.DE and AXQT.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025 | 0.29 |
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Return for Risk
XBAK.DE vs. AXQT.DE — Risk / Return Rank
XBAK.DE
AXQT.DE
XBAK.DE vs. AXQT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.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.
| XBAK.DE | AXQT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.50 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 5.28 | -3.80 |
| Martin ratioReturn relative to average drawdown | 3.81 | 17.84 | -14.03 |
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Drawdowns
XBAK.DE vs. AXQT.DE - Drawdown Comparison
The maximum XBAK.DE drawdown since its inception was -79.30%, which is greater than AXQT.DE's maximum drawdown of -12.88%. Use the drawdown chart below to compare losses from any high point for XBAK.DE and AXQT.DE.
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Drawdown Indicators
| XBAK.DE | AXQT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -12.88% | -66.42% |
Max Drawdown (1Y)Largest decline over 1 year | -23.67% | -11.49% | -12.18% |
Max Drawdown (3Y)Largest decline over 3 years | -23.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -49.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -79.30% | — | — |
Current DrawdownCurrent decline from peak | -32.50% | -7.30% | -25.20% |
Average DrawdownAverage peak-to-trough decline | -37.83% | -2.17% | -35.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.17% | 3.40% | +5.77% |
Volatility
XBAK.DE vs. AXQT.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) is 5.51%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) has a volatility of 9.65%. This indicates that XBAK.DE experiences smaller price fluctuations and is considered to be less risky than AXQT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAK.DE | AXQT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 9.65% | -4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 24.19% | 18.59% | +5.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 21.11% | +6.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 21.60% | +2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 21.60% | +2.95% |
XBAK.DE vs. AXQT.DE - Expense Ratio Comparison
XBAK.DE has a 0.85% expense ratio, which is higher than AXQT.DE's 0.27% expense ratio.
Dividends
XBAK.DE vs. AXQT.DE - Dividend Comparison
Neither XBAK.DE nor AXQT.DE has paid dividends to shareholders.
Frequently Asked Questions
XBAK.DE and AXQT.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AXQT.DE is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AXQT.DE is cheaper with a 0.27% expense ratio, compared with 0.85% for XBAK.DE.
XBAK.DE tracks MSCI Pakistan Investable Market Index, while AXQT.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned. They also come from different issuers: Xtrackers and AXA IM. Their fees differ too: 0.85% for XBAK.DE and 0.27% for AXQT.DE.
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