XQUD.DE vs. EMA5.DE
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and EMA5.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) are both Emerging Markets Bonds funds - XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted while EMA5.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. Both are passively managed. Over the past 3 years, XQUD.DE returned 2.35%/yr vs 5.12%/yr for EMA5.DE. A 0.71 correlation means they provide meaningful diversification when combined. XQUD.DE charges 0.45%/yr vs 0.25%/yr for EMA5.DE.
Performance
XQUD.DE vs. EMA5.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XQUD.DE achieves a 1.98% return, which is significantly lower than EMA5.DE's 2.33% return.
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
EMA5.DE
- 1D
- -0.04%
- 1M
- 1.09%
- YTD
- 2.33%
- 6M
- 2.03%
- 1Y
- 4.26%
- 3Y*
- 5.12%
- 5Y*
- 3.38%
- 10Y*
- —
XQUD.DE vs. EMA5.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 1.98% | -1.36% | 5.23% | 3.70% | -0.16% |
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 2.33% | -2.57% | 14.01% | 3.79% | 0.27% |
Correlation
The correlation between XQUD.DE and EMA5.DE is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.71 |
The correlation between XQUD.DE and EMA5.DE has been stable across timeframes, ranging from 0.71 to 0.78 - a consistent structural relationship.
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Return for Risk
XQUD.DE vs. EMA5.DE — Risk / Return Rank
XQUD.DE
EMA5.DE
XQUD.DE vs. EMA5.DE - 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 (XQUD.DE) and L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.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.
| XQUD.DE | EMA5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.13 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.38 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.64 | 3.47 | +1.17 |
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
| XQUD.DE | EMA5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 0.72 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.47 | -0.17 |
Drawdowns
XQUD.DE vs. EMA5.DE - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, which is greater than EMA5.DE's maximum drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and EMA5.DE.
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Drawdown Indicators
| XQUD.DE | EMA5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -10.01% | -2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -3.06% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -10.01% | -1.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.01% | — |
Current DrawdownCurrent decline from peak | -2.99% | -3.17% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -3.55% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.22% | +0.08% |
Volatility
XQUD.DE vs. EMA5.DE - Volatility Comparison
The current volatility for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) is 1.12%, while L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) has a volatility of 2.25%. This indicates that XQUD.DE experiences smaller price fluctuations and is considered to be less risky than EMA5.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUD.DE | EMA5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 2.25% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 4.23% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.86% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 7.07% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 6.94% | +1.04% |
XQUD.DE vs. EMA5.DE - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is higher than EMA5.DE's 0.25% expense ratio.
Dividends
XQUD.DE vs. EMA5.DE - Dividend Comparison
XQUD.DE has not paid dividends to shareholders, while EMA5.DE's dividend yield for the trailing twelve months is around 4.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 4.59% | 5.61% | 5.39% | 4.22% | 2.89% | 1.01% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XQUD.DE and EMA5.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMA5.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMA5.DE is cheaper with a 0.25% expense ratio, compared with 0.45% for XQUD.DE.
XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while EMA5.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. They also come from different issuers: Xtrackers and Legal & General. Their fees differ too: 0.45% for XQUD.DE and 0.25% for EMA5.DE.
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