XUEB.DE vs. ZPR6.DE
XUEB.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - XUEB.DE tracks the JPM EMBI Global Diversified TR USD while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 5 years, XUEB.DE returned 2.85%/yr vs 0.23%/yr for ZPR6.DE. At a 0.42 correlation, their price movements are largely independent. XUEB.DE charges 0.25%/yr vs 0.47%/yr for ZPR6.DE.
Performance
XUEB.DE vs. ZPR6.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 ZPR6.DE's 0.15% 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*
- —
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
XUEB.DE vs. ZPR6.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% |
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% | -9.09% | -1.17% | 4.60% |
Correlation
The correlation between XUEB.DE and ZPR6.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 25, 2020 | 0.42 |
Over the past year, the correlation between XUEB.DE and ZPR6.DE has dropped to 0.22 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
XUEB.DE vs. ZPR6.DE — Risk / Return Rank
XUEB.DE
ZPR6.DE
XUEB.DE vs. ZPR6.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 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.
| XUEB.DE | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 1.74 | +2.09 |
| Martin ratioReturn relative to average drawdown | 10.83 | 7.22 | +3.61 |
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 | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.26 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.05 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.07 | +0.18 |
Drawdowns
XUEB.DE vs. ZPR6.DE - Drawdown Comparison
The maximum XUEB.DE drawdown since its inception was -17.41%, which is greater than ZPR6.DE's maximum drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for XUEB.DE and ZPR6.DE.
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Drawdown Indicators
| XUEB.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.41% | -13.50% | -3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -1.80% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -1.80% | -11.61% |
Max Drawdown (5Y)Largest decline over 5 years | -17.41% | -13.50% | -3.91% |
Current DrawdownCurrent decline from peak | -0.40% | -0.37% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -4.62% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.43% | +0.53% |
Volatility
XUEB.DE vs. ZPR6.DE - Volatility Comparison
Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.DE) has a higher volatility of 1.29% 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 XUEB.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
| XUEB.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.61% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 3.95% | 2.11% | +1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.93% | 2.48% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.74% | 4.41% | +4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.56% | 5.13% | +3.43% |
XUEB.DE vs. ZPR6.DE - Expense Ratio Comparison
XUEB.DE has a 0.25% expense ratio, which is lower than ZPR6.DE's 0.47% expense ratio.
Dividends
XUEB.DE vs. ZPR6.DE - Dividend Comparison
Neither XUEB.DE nor ZPR6.DE has paid dividends to shareholders.
Frequently Asked Questions
XUEB.DE and ZPR6.DE have a correlation of 0.22, 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 0.47% for ZPR6.DE.
XUEB.DE tracks JPM EMBI Global Diversified TR USD, 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: 0.25% for XUEB.DE and 0.47% for ZPR6.DE.
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