XQUD.DE vs. VGEM.DE
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 3 years, XQUD.DE returned 2.35%/yr vs 5.24%/yr for VGEM.DE. Their correlation of 0.90 suggests significant overlap in exposure. XQUD.DE charges 0.45%/yr vs 0.25%/yr for VGEM.DE.
Performance
XQUD.DE vs. VGEM.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 VGEM.DE's 2.34% return.
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
XQUD.DE vs. VGEM.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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | 1.18% |
Correlation
The correlation between XQUD.DE and VGEM.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.90 |
The correlation between XQUD.DE and VGEM.DE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
XQUD.DE vs. VGEM.DE — Risk / Return Rank
XQUD.DE
VGEM.DE
XQUD.DE vs. VGEM.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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 | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.16 | -0.60 |
| Martin ratioReturn relative to average drawdown | 4.64 | 5.71 | -1.07 |
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 | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.13 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.29 | +0.01 |
Drawdowns
XQUD.DE vs. VGEM.DE - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, smaller than the maximum VGEM.DE drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and VGEM.DE.
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Drawdown Indicators
| XQUD.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -19.64% | +7.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -3.10% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -11.98% | +0.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.46% | — |
Current DrawdownCurrent decline from peak | -2.99% | -2.18% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -6.63% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.17% | +0.13% |
Volatility
XQUD.DE vs. VGEM.DE - Volatility Comparison
The current volatility for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) is 1.12%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a volatility of 1.18%. This indicates that XQUD.DE experiences smaller price fluctuations and is considered to be less risky than VGEM.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 | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.18% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 3.96% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.93% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 7.89% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 8.77% | -0.79% |
XQUD.DE vs. VGEM.DE - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
XQUD.DE vs. VGEM.DE - Dividend Comparison
XQUD.DE has not paid dividends to shareholders, while VGEM.DE's dividend yield for the trailing twelve months is around 5.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
XQUD.DE and VGEM.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.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 VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.45% for XQUD.DE and 0.25% for VGEM.DE.
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