XGLE.L vs. LEML.L

Last updated Jun 4, 2026

XGLE.L (Xtrackers Eurozone Government Bond UCITS ETF 1C) and LEML.L (Lyxor MSCI Emerging Markets UCITS ETF - Acc USD) are both exchange-traded funds - XGLE.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while LEML.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, XGLE.L returned -0.38%/yr vs 9.86%/yr for LEML.L. At a 0.03 correlation, their price movements are largely independent. XGLE.L charges 0.15%/yr vs 0.55%/yr for LEML.L.

Performance

XGLE.L vs. LEML.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) and Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XGLE.L is traded in EUR, while LEML.L is traded in GBp. To make them comparable, the LEML.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

Over the past 10 years, XGLE.L has underperformed LEML.L with an annualized return of -0.38%, while LEML.L has yielded a comparatively higher 9.86% annualized return.

XGLE.L

• 1D: -0.44%
• 1M: 0.30%
• YTD: -0.00%
• 6M: -0.24%
• 1Y: -0.20%
• 3Y*: 2.18%
• 5Y*: -2.30%
• 10Y*: -0.38%

LEML.L

• 1D: -0.92%
• 1M: 10.43%
• YTD: 29.20%
• 6M: 31.84%
• 1Y: 53.11%
• 3Y*: 20.84%
• 5Y*: 8.36%
• 10Y*: 9.86%

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

XGLE.L vs. LEML.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XGLE.L Xtrackers Eurozone Government Bond UCITS ETF 1C	-0.00%	0.57%	1.68%	6.80%	-18.23%	-3.63%	4.76%	6.62%	0.78%	-0.04%
LEML.L Lyxor MSCI Emerging Markets UCITS ETF - Acc USD	29.20%	18.10%	13.96%	4.85%	-15.29%	4.46%	7.40%	20.22%	-11.09%	19.69%

Correlation

The correlation between XGLE.L and LEML.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Nov 20, 2012	0.03

Over the past year, XGLE.L and LEML.L have become more correlated (0.28) than their long-term average of 0.03, meaning their price movements have been converging.

Return for Risk

XGLE.L vs. LEML.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XGLE.L

XGLE.L Risk / Return Rank: 8
XGLE.L Sharpe Ratio Rank: 8
XGLE.L Sortino Ratio Rank: 7
XGLE.L Omega Ratio Rank: 7
XGLE.L Calmar Ratio Rank: 8
XGLE.L Martin Ratio Rank: 8

LEML.L

LEML.L Risk / Return Rank: 90
LEML.L Sharpe Ratio Rank: 93
LEML.L Sortino Ratio Rank: 91
LEML.L Omega Ratio Rank: 92
LEML.L Calmar Ratio Rank: 88
LEML.L Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGLE.L vs. LEML.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) and Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L). 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.

	XGLE.L	LEML.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	3.01	-3.06
Sortino ratio: Return per unit of downside risk	-0.04	4.00	-4.04
Omega ratio: Gain probability vs. loss probability	1.00	1.55	-0.55
Calmar ratio: Return relative to maximum drawdown	-0.06	4.89	-4.95
Martin ratio: Return relative to average drawdown	-0.15	17.61	-17.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGLE.L vs. LEML.L - Sharpe Ratio Comparison

The current XGLE.L Sharpe Ratio is -0.05, which is lower than the LEML.L Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of XGLE.L and LEML.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XGLE.L	LEML.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.05	3.01	-3.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.50	-0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.07	0.54	-0.61
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.38	+0.03

Drawdowns

XGLE.L vs. LEML.L - Drawdown Comparison

The maximum XGLE.L drawdown since its inception was -22.56%, smaller than the maximum LEML.L drawdown of -36.22%. Use the drawdown chart below to compare losses from any high point for XGLE.L and LEML.L.

Drawdown Indicators

	XGLE.L	LEML.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.56%	-36.22%	+13.66%
Max Drawdown (1Y) Largest decline over 1 year	-3.54%	-10.81%	+7.27%
Max Drawdown (3Y) Largest decline over 3 years	-3.99%	-17.93%	+13.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.62%	-24.24%	+2.62%
Max Drawdown (10Y) Largest decline over 10 years	-22.56%	-32.04%	+9.48%
Current Drawdown Current decline from peak	-14.25%	-0.92%	-13.33%
Average Drawdown Average peak-to-trough decline	-6.51%	-10.59%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	3.01%	-1.64%

Volatility

XGLE.L vs. LEML.L - Volatility Comparison

The current volatility for Xtrackers Eurozone Government Bond UCITS ETF 1C (XGLE.L) is 1.72%, while Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L) has a volatility of 7.44%. This indicates that XGLE.L experiences smaller price fluctuations and is considered to be less risky than LEML.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGLE.L	LEML.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	7.44%	-5.72%
Volatility (6M) Calculated over the trailing 6-month period	3.54%	14.66%	-11.12%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	17.58%	-13.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	16.70%	-10.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.34%	18.32%	-12.98%

XGLE.L vs. LEML.L - Expense Ratio Comparison

XGLE.L has a 0.15% expense ratio, which is lower than LEML.L's 0.55% expense ratio.

Dividends

XGLE.L vs. LEML.L - Dividend Comparison

Neither XGLE.L nor LEML.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XGLE.L and LEML.L in my portfolio?

XGLE.L and LEML.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XGLE.L or LEML.L?

On fees, XGLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XGLE.L or LEML.L?

XGLE.L is cheaper with a 0.15% expense ratio, compared with 0.55% for LEML.L.

What is the main difference between XGLE.L and LEML.L?

XGLE.L is categorized as European Government Bonds, while LEML.L is Emerging Markets Equities. XGLE.L tracks Bloomberg Euro Agg Govt TR EUR, while LEML.L tracks MSCI EM NR USD. They also come from different issuers: DWS and Amundi. Their fees differ too: 0.15% for XGLE.L and 0.55% for LEML.L.