XEML vs. PBEU

Last updated Jul 17, 2026

XEML (Xtrackers Europe Market Leaders ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - XEML is a Europe Equities fund tracking the STOXX Europe Total Market Leaders Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. XEML charges 0.35%/yr vs 0.13%/yr for PBEU.

Performance

XEML vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEML achieves a 4.11% return, which is significantly lower than PBEU's 17.19% return.

XEML

• 1D: -0.02%
• 1M: -0.77%
• 6M: 2.07%
• YTD: 4.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBEU

• 1D: -0.15%
• 1M: 3.63%
• 6M: 14.30%
• YTD: 17.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XEML vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	4.11%	-0.42%
PBEU Portfolio Building Block European Banks Index ETF	17.19%	0.93%

Correlation

The correlation between XEML and PBEU is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.75

Return for Risk

XEML vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and Portfolio Building Block European Banks Index ETF (PBEU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

XEML vs. PBEU - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, smaller than the maximum PBEU drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for XEML and PBEU.

Drawdown Indicators

	XEML	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-17.26%	+3.77%
Current Drawdown Current decline from peak	-4.40%	-0.71%	-3.69%
Average Drawdown Average peak-to-trough decline	-4.87%	-3.71%	-1.16%

Volatility

Volatility by Period

	XEML	PBEU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.08%	26.97%	-7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	26.97%	-7.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	26.97%	-7.89%

XEML vs. PBEU - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

XEML vs. PBEU - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 1.79%, more than PBEU's 0.01% yield.

Position	TTM	2025
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%
XEML Xtrackers Europe Market Leaders ETF	1.79%	0.00%

Frequently Asked Questions

Can I hold both XEML and PBEU in my portfolio?

XEML and PBEU have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEML or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.35% for XEML.

Which ETF pays a higher dividend yield, XEML or PBEU?

XEML has the higher dividend yield at 1.79%, compared with 0.01% for PBEU.

What is the main difference between XEML and PBEU?

XEML is categorized as Europe Equities, while PBEU is Financials Equities. XEML tracks STOXX Europe Total Market Leaders Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: Xtrackers and Portfolio Building Block. Their fees differ too: 0.35% for XEML and 0.13% for PBEU.