XQUD.DE vs. ZPR6.DE
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 3 years, XQUD.DE returned 2.35%/yr vs 4.05%/yr for ZPR6.DE. At a 0.42 correlation, their price movements are largely independent. XQUD.DE charges 0.45%/yr vs 0.47%/yr for ZPR6.DE.
Performance
XQUD.DE vs. ZPR6.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 higher than ZPR6.DE's 0.15% return.
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
XQUD.DE vs. ZPR6.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% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | 0.41% |
Correlation
The correlation between XQUD.DE and ZPR6.DE is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.42 |
Over the past year, the correlation between XQUD.DE and ZPR6.DE has dropped to 0.15 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
XQUD.DE vs. ZPR6.DE — Risk / Return Rank
XQUD.DE
ZPR6.DE
XQUD.DE vs. ZPR6.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 SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.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 | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.74 | -0.18 |
| Martin ratioReturn relative to average drawdown | 4.64 | 7.22 | -2.58 |
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
| XQUD.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.26 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.07 | +0.22 |
Drawdowns
XQUD.DE vs. ZPR6.DE - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, smaller than the maximum ZPR6.DE drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and ZPR6.DE.
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Drawdown Indicators
| XQUD.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -13.50% | +1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -1.80% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -1.80% | -9.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.50% | — |
Current DrawdownCurrent decline from peak | -2.99% | -0.37% | -2.62% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -4.62% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.43% | +0.87% |
Volatility
XQUD.DE vs. ZPR6.DE - Volatility Comparison
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) has a higher volatility of 1.12% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) at 0.61%. This indicates that XQUD.DE's price experiences larger fluctuations and is considered to be riskier than ZPR6.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 | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.61% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 2.11% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 2.48% | +3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 4.41% | +3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 5.13% | +2.85% |
XQUD.DE vs. ZPR6.DE - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is lower than ZPR6.DE's 0.47% expense ratio.
Dividends
XQUD.DE vs. ZPR6.DE - Dividend Comparison
Neither XQUD.DE nor ZPR6.DE has paid dividends to shareholders.
Frequently Asked Questions
XQUD.DE and ZPR6.DE have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XQUD.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XQUD.DE is cheaper with a 0.45% expense ratio, compared with 0.47% for ZPR6.DE.
XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.45% for XQUD.DE and 0.47% for ZPR6.DE.
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