XUEB.L vs. EMBE.L

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.L) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L).

XUEB.L and EMBE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XUEB.L is a passively managed fund by Xtrackers that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Mar 11, 2020. EMBE.L is a passively managed fund by iShares that tracks the performance of the JPM EMBI Global Diversified Hedge TR EUR. It was launched on Jul 8, 2013. Both XUEB.L and EMBE.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XUEB.L vs. EMBE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.L) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L). The values are adjusted to include any dividend payments, if applicable.

XUEB.L vs. EMBE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XUEB.L Xtrackers II USD Emerging Markets Bond UCITS ETF 2C	-0.72%	13.61%	6.10%	11.06%	5.53%
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)	-2.86%	25.90%	-2.43%	11.05%	10.07%

Different Trading Currencies

XUEB.L is traded in USD, while EMBE.L is traded in EUR. To make them comparable, the EMBE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XUEB.L achieves a -0.72% return, which is significantly higher than EMBE.L's -2.86% return.

XUEB.L

• 1D: 1.04%
• 1M: -2.05%
• YTD: -0.72%
• 6M: 2.15%
• 1Y: 10.04%
• 3Y*: 9.09%
• 5Y*: —
• 10Y*: —

EMBE.L

• 1D: 1.57%
• 1M: -3.32%
• YTD: -2.86%
• 6M: -0.60%
• 1Y: 14.88%
• 3Y*: 8.79%
• 5Y*: -0.53%
• 10Y*: 1.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XUEB.L vs. EMBE.L - Expense Ratio Comparison

XUEB.L has a 0.25% expense ratio, which is lower than EMBE.L's 0.50% expense ratio.

EMBE.L

iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)

XUEB.L

Xtrackers II USD Emerging Markets Bond UCITS ETF 2C

Return for Risk

XUEB.L vs. EMBE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XUEB.L

XUEB.L Risk / Return Rank: 78
XUEB.L Sharpe Ratio Rank: 78
XUEB.L Sortino Ratio Rank: 80
XUEB.L Omega Ratio Rank: 79
XUEB.L Calmar Ratio Rank: 74
XUEB.L Martin Ratio Rank: 79

EMBE.L

EMBE.L Risk / Return Rank: 57
EMBE.L Sharpe Ratio Rank: 55
EMBE.L Sortino Ratio Rank: 57
EMBE.L Omega Ratio Rank: 53
EMBE.L Calmar Ratio Rank: 57
EMBE.L Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XUEB.L vs. EMBE.L - 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.L) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L). 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.L	EMBE.L	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.33	+0.21
Sortino ratio Return per unit of downside risk	2.19	2.04	+0.15
Omega ratio Gain probability vs. loss probability	1.32	1.25	+0.07
Calmar ratio Return relative to maximum drawdown	2.26	1.82	+0.45
Martin ratio Return relative to average drawdown	9.82	6.95	+2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUEB.L vs. EMBE.L - Sharpe Ratio Comparison

The current XUEB.L Sharpe Ratio is 1.54, which is comparable to the EMBE.L Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of XUEB.L and EMBE.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XUEB.L	EMBE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.33	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.04	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.06	+1.04

Correlation

The correlation between XUEB.L and EMBE.L is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XUEB.L vs. EMBE.L - Dividend Comparison

XUEB.L has not paid dividends to shareholders, while EMBE.L's dividend yield for the trailing twelve months is around 5.62%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XUEB.L 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%	0.00%	0.00%	0.00%	0.00%
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)	5.62%	5.44%	5.64%	5.50%	5.39%	3.92%	3.85%	4.77%	5.75%	3.88%	5.36%	4.72%

Drawdowns

XUEB.L vs. EMBE.L - Drawdown Comparison

The maximum XUEB.L drawdown since its inception was -14.08%, smaller than the maximum EMBE.L drawdown of -44.54%. Use the drawdown chart below to compare losses from any high point for XUEB.L and EMBE.L.

Drawdown Indicators

	XUEB.L	EMBE.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.08%	-30.73%	+16.65%
Max Drawdown (1Y) Largest decline over 1 year	-5.06%	-4.95%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.73%	—
Current Drawdown Current decline from peak	-2.86%	-6.40%	+3.54%
Average Drawdown Average peak-to-trough decline	-2.15%	-7.44%	+5.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.11%	-0.07%

Volatility

XUEB.L vs. EMBE.L - Volatility Comparison

The current volatility for Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.L) is 2.57%, while iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) has a volatility of 4.24%. This indicates that XUEB.L experiences smaller price fluctuations and is considered to be less risky than EMBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUEB.L	EMBE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	4.24%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	3.66%	6.42%	-2.76%
Volatility (1Y) Calculated over the trailing 1-year period	6.50%	11.14%	-4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.62%	13.61%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.62%	13.35%	-4.73%