XQUE.DE vs. SNAZ.DE
XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) and SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) are both Emerging Markets Bonds funds - XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged) while SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, XQUE.DE returned -2.72%/yr vs -0.19%/yr for SNAZ.DE. A 0.65 correlation means they provide meaningful diversification when combined. XQUE.DE charges 0.50%/yr vs 0.53%/yr for SNAZ.DE.
Performance
XQUE.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XQUE.DE achieves a -0.71% return, which is significantly lower than SNAZ.DE's 0.59% return.
XQUE.DE
- 1D
- 0.12%
- 1M
- -0.95%
- 6M
- -0.36%
- YTD
- -0.71%
- 1Y
- 3.96%
- 3Y*
- 2.34%
- 5Y*
- -2.72%
- 10Y*
- —
SNAZ.DE
- 1D
- 0.39%
- 1M
- -0.19%
- 6M
- 0.39%
- YTD
- 0.59%
- 1Y
- 3.64%
- 3Y*
- 4.79%
- 5Y*
- -0.19%
- 10Y*
- —
XQUE.DE vs. SNAZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | -0.71% | 8.45% | -2.21% | 4.90% | -19.86% | -2.86% | 2.38% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.59% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
Correlation
The correlation between XQUE.DE and SNAZ.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.65 |
The correlation between XQUE.DE and SNAZ.DE shifts across timeframes, from 0.54 (1 year) to 0.69 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XQUE.DE vs. SNAZ.DE — Risk / Return Rank
XQUE.DE
SNAZ.DE
XQUE.DE vs. SNAZ.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 EUR Hedged (XQUE.DE) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XQUE.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.20 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.25 | -0.29 |
| Martin ratioReturn relative to average drawdown | 2.74 | 4.53 | -1.79 |
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Drawdowns
XQUE.DE vs. SNAZ.DE - Drawdown Comparison
The maximum XQUE.DE drawdown since its inception was -28.45%, which is greater than SNAZ.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for XQUE.DE and SNAZ.DE.
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Drawdown Indicators
| XQUE.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.45% | -21.88% | -6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.13% | -2.91% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.80% | -3.82% | -4.98% |
Max Drawdown (5Y)Largest decline over 5 years | -28.06% | -21.88% | -6.18% |
Current DrawdownCurrent decline from peak | -14.01% | -1.73% | -12.28% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -7.60% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 0.80% | +0.64% |
Volatility
XQUE.DE vs. SNAZ.DE - Volatility Comparison
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.DE) has a higher volatility of 1.45% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) at 1.09%. This indicates that XQUE.DE's price experiences larger fluctuations and is considered to be riskier than SNAZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUE.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.09% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 2.81% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 3.45% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.36% | 5.07% | +3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.93% | 7.63% | +1.30% |
XQUE.DE vs. SNAZ.DE - Expense Ratio Comparison
XQUE.DE has a 0.50% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
XQUE.DE vs. SNAZ.DE - Dividend Comparison
XQUE.DE's dividend yield for the trailing twelve months is around 4.48%, while SNAZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | 4.48% | 4.55% | 4.62% | 4.12% | 7.39% | 3.89% | 10.60% | 4.37% | 1.26% |
Frequently Asked Questions
XQUE.DE and SNAZ.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XQUE.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XQUE.DE is cheaper with a 0.50% expense ratio, compared with 0.53% for SNAZ.DE.
XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged), while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.50% for XQUE.DE and 0.53% for SNAZ.DE.
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