XQUA.L vs. XUEM.L
XQUA.L (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D) and XUEM.L (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) are both Emerging Markets Bonds funds from Xtrackers tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, XQUA.L returned -0.11%/yr vs 1.90%/yr for XUEM.L. Their correlation of 0.93 suggests significant overlap in exposure. XQUA.L charges 0.45%/yr vs 0.25%/yr for XUEM.L.
Performance
XQUA.L vs. XUEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, XQUA.L achieves a 0.94% return, which is significantly lower than XUEM.L's 2.60% return.
XQUA.L
- 1D
- 0.35%
- 1M
- 0.05%
- YTD
- 0.94%
- 6M
- 0.97%
- 1Y
- 8.06%
- 3Y*
- 5.25%
- 5Y*
- -0.11%
- 10Y*
- 0.95%
XUEM.L
- 1D
- 0.16%
- 1M
- 0.25%
- YTD
- 2.60%
- 6M
- 3.18%
- 1Y
- 12.57%
- 3Y*
- 10.25%
- 5Y*
- 1.90%
- 10Y*
- —
XQUA.L vs. XUEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D | 0.94% | 10.82% | -0.40% | 7.51% | -17.76% | -1.45% | 6.97% | 10.02% | 0.38% |
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 2.60% | 13.58% | 6.08% | 10.88% | -19.42% | -2.38% | 3.07% | 15.18% | -0.93% |
Correlation
The correlation between XQUA.L and XUEM.L is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2018 | 0.93 |
The correlation between XQUA.L and XUEM.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
XQUA.L vs. XUEM.L — Risk / Return Rank
XQUA.L
XUEM.L
XQUA.L vs. XUEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L) and Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.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.
| XQUA.L | XUEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.50 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 3.22 | -1.21 |
| Martin ratioReturn relative to average drawdown | 7.21 | 13.78 | -6.58 |
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
| XQUA.L | XUEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 2.52 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.21 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.28 | -0.17 |
Drawdowns
XQUA.L vs. XUEM.L - Drawdown Comparison
The maximum XQUA.L drawdown since its inception was -26.27%, smaller than the maximum XUEM.L drawdown of -29.94%. Use the drawdown chart below to compare losses from any high point for XQUA.L and XUEM.L.
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Drawdown Indicators
| XQUA.L | XUEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.27% | -29.94% | +3.67% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -3.88% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -8.08% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.26% | -29.94% | +3.68% |
Max Drawdown (10Y)Largest decline over 10 years | -26.27% | — | — |
Current DrawdownCurrent decline from peak | -2.91% | -0.02% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -7.73% | -7.83% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.91% | +0.21% |
Volatility
XQUA.L vs. XUEM.L - Volatility Comparison
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L) and Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.L) have volatilities of 1.74% and 1.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUA.L | XUEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.66% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 3.97% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 4.97% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.01% | 8.90% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.65% | 10.84% | -2.19% |
XQUA.L vs. XUEM.L - Expense Ratio Comparison
XQUA.L has a 0.45% expense ratio, which is higher than XUEM.L's 0.25% expense ratio.
Dividends
XQUA.L vs. XUEM.L - Dividend Comparison
XQUA.L's dividend yield for the trailing twelve months is around 4.61%, less than XUEM.L's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D | 4.61% | 4.49% | 4.61% | 4.24% | 6.92% | 4.08% | 4.54% | 0.00% |
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.21% | 5.30% | 6.79% | 5.27% | 5.92% | 8.49% | 4.18% | 0.61% |
Frequently Asked Questions
With a correlation of 0.95, XQUA.L and XUEM.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, XUEM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.L is cheaper with a 0.25% expense ratio, compared with 0.45% for XQUA.L.
Both ETFs track JPM EMBI Global Diversified TR USD. Their fees differ too: 0.45% for XQUA.L and 0.25% for XUEM.L.
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