XUEB.DE vs. UEFE.DE
XUEB.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) 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 - XUEB.DE tracks the JPM EMBI Global Diversified TR USD while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, XUEB.DE returned 2.85%/yr vs 4.93%/yr for UEFE.DE. A 0.53 correlation means they provide meaningful diversification when combined. XUEB.DE charges 0.25%/yr vs 0.40%/yr for UEFE.DE.
Performance
XUEB.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEB.DE achieves a 3.66% return, which is significantly higher than UEFE.DE's 2.04% return.
XUEB.DE
- 1D
- -0.10%
- 1M
- 1.69%
- YTD
- 3.66%
- 6M
- 3.38%
- 1Y
- 10.40%
- 3Y*
- 7.25%
- 5Y*
- 2.85%
- 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*
- —
XUEB.DE vs. UEFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XUEB.DE Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 3.66% | 1.23% | 11.99% | 7.34% | -14.37% | 5.65% | -0.25% |
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% | -6.22% | 2.54% | 4.55% |
Correlation
The correlation between XUEB.DE and UEFE.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 25, 2020 | 0.53 |
The correlation between XUEB.DE and UEFE.DE has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.
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Return for Risk
XUEB.DE vs. UEFE.DE — Risk / Return Rank
XUEB.DE
UEFE.DE
XUEB.DE vs. UEFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.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.
| XUEB.DE | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 2.06 | +1.78 |
| Martin ratioReturn relative to average drawdown | 10.83 | 7.08 | +3.75 |
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
| XUEB.DE | UEFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.48 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.58 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.66 | -0.41 |
Drawdowns
XUEB.DE vs. UEFE.DE - Drawdown Comparison
The maximum XUEB.DE drawdown since its inception was -17.41%, smaller than the maximum UEFE.DE drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for XUEB.DE and UEFE.DE.
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Drawdown Indicators
| XUEB.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.41% | -23.72% | +6.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.93% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -8.02% | -5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -17.41% | -12.46% | -4.95% |
Current DrawdownCurrent decline from peak | -0.40% | -1.03% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -4.41% | -1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.14% | -0.18% |
Volatility
XUEB.DE vs. UEFE.DE - Volatility Comparison
The current volatility for Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.DE) is 1.29%, 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 XUEB.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
| XUEB.DE | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.93% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.95% | 4.64% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 5.46% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.74% | 8.44% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.56% | 9.82% | -1.26% |
XUEB.DE vs. UEFE.DE - Expense Ratio Comparison
XUEB.DE has a 0.25% expense ratio, which is lower than UEFE.DE's 0.40% expense ratio.
Dividends
XUEB.DE vs. UEFE.DE - Dividend Comparison
XUEB.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% |
XUEB.DE Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XUEB.DE and UEFE.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEB.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for UEFE.DE.
XUEB.DE tracks JPM EMBI Global Diversified TR USD, 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: 0.25% for XUEB.DE and 0.40% for UEFE.DE.
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