XQUD.DE vs. UEFE.DE
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 3 years, XQUD.DE returned 2.35%/yr vs 7.16%/yr for UEFE.DE. A 0.52 correlation means they provide meaningful diversification when combined. XQUD.DE charges 0.45%/yr vs 0.40%/yr for UEFE.DE.
Performance
XQUD.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XQUD.DE having a 1.98% return and UEFE.DE slightly higher at 2.04%.
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.32%
- YTD
- 2.04%
- 6M
- 2.08%
- 1Y
- 8.10%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
XQUD.DE vs. UEFE.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% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 2.04% | 5.88% | 6.93% | 15.75% | 0.82% |
Correlation
The correlation between XQUD.DE and UEFE.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.52 |
The correlation between XQUD.DE and UEFE.DE has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
XQUD.DE vs. UEFE.DE — Risk / Return Rank
XQUD.DE
UEFE.DE
XQUD.DE vs. UEFE.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 UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.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 | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.06 | -0.49 |
| Martin ratioReturn relative to average drawdown | 4.64 | 7.08 | -2.45 |
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 | UEFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.48 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.66 | -0.37 |
Drawdowns
XQUD.DE vs. UEFE.DE - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, smaller than the maximum UEFE.DE drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and UEFE.DE.
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Drawdown Indicators
| XQUD.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -23.72% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -3.93% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -8.02% | -3.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.46% | — |
Current DrawdownCurrent decline from peak | -2.99% | -1.03% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -4.41% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.14% | +0.16% |
Volatility
XQUD.DE vs. UEFE.DE - Volatility Comparison
The current volatility for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) is 1.12%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) has a volatility of 1.93%. This indicates that XQUD.DE experiences smaller price fluctuations and is considered to be less risky than UEFE.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 | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.93% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 4.64% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.46% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 8.44% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 9.82% | -1.84% |
XQUD.DE vs. UEFE.DE - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is higher than UEFE.DE's 0.40% expense ratio.
Dividends
XQUD.DE vs. UEFE.DE - Dividend Comparison
XQUD.DE has not paid dividends to shareholders, while UEFE.DE's dividend yield for the trailing twelve months is around 4.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XQUD.DE and UEFE.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for XQUD.DE.
XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: Xtrackers and UBS. Their fees differ too: 0.45% for XQUD.DE and 0.40% for UEFE.DE.
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