XEMD.DE vs. AXQE.DE
XEMD.DE (Xtrackers MSCI Emerging Markets UCITS ETF 1D) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - XEMD.DE tracks the MSCI EM NR USD while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, XEMD.DE returned 49.56% vs 68.61% for AXQE.DE. Their correlation of 0.80 suggests significant overlap in exposure. XEMD.DE charges 0.18%/yr vs 0.30%/yr for AXQE.DE.
Performance
XEMD.DE vs. AXQE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XEMD.DE achieves a 28.06% return, which is significantly lower than AXQE.DE's 37.94% return.
XEMD.DE
- 1D
- -1.59%
- 1M
- 6.02%
- YTD
- 28.06%
- 6M
- 29.15%
- 1Y
- 49.56%
- 3Y*
- 20.80%
- 5Y*
- —
- 10Y*
- —
AXQE.DE
- 1D
- -0.91%
- 1M
- 6.45%
- YTD
- 37.94%
- 6M
- 42.42%
- 1Y
- 68.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEMD.DE vs. AXQE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 28.06% | 13.71% |
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 37.94% | 28.56% |
Correlation
The correlation between XEMD.DE and AXQE.DE is 0.80, 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | 0.80 |
The correlation between XEMD.DE and AXQE.DE has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.
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Return for Risk
XEMD.DE vs. AXQE.DE — Risk / Return Rank
XEMD.DE
AXQE.DE
XEMD.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.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.
| XEMD.DE | AXQE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.51 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 3.48 | +1.12 |
| Martin ratioReturn relative to average drawdown | 16.76 | 14.04 | +2.73 |
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
| XEMD.DE | AXQE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.77 | 2.10 | +0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.81 | -1.23 |
Drawdowns
XEMD.DE vs. AXQE.DE - Drawdown Comparison
The maximum XEMD.DE drawdown since its inception was -23.50%, which is greater than AXQE.DE's maximum drawdown of -19.63%. Use the drawdown chart below to compare losses from any high point for XEMD.DE and AXQE.DE.
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Drawdown Indicators
| XEMD.DE | AXQE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.50% | -19.63% | -3.87% |
Max Drawdown (1Y)Largest decline over 1 year | -10.72% | -19.63% | +8.91% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | — | — |
Current DrawdownCurrent decline from peak | -2.54% | -2.54% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -2.70% | -6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 4.87% | -1.92% |
Volatility
XEMD.DE vs. AXQE.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE) is 7.39%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 9.35%. This indicates that XEMD.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEMD.DE | AXQE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 9.35% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 15.08% | 30.41% | -15.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.84% | 32.57% | -14.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.76% | 30.53% | -13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 30.53% | -13.77% |
XEMD.DE vs. AXQE.DE - Expense Ratio Comparison
XEMD.DE has a 0.18% expense ratio, which is lower than AXQE.DE's 0.30% expense ratio.
Dividends
XEMD.DE vs. AXQE.DE - Dividend Comparison
XEMD.DE's dividend yield for the trailing twelve months is around 1.55%, while AXQE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 1.55% | 1.92% | 3.01% | 2.38% | 2.66% |
Frequently Asked Questions
XEMD.DE and AXQE.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEMD.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEMD.DE is cheaper with a 0.18% expense ratio, compared with 0.30% for AXQE.DE.
XEMD.DE tracks MSCI EM NR USD, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: Xtrackers and AXA IM. Their fees differ too: 0.18% for XEMD.DE and 0.30% for AXQE.DE.
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