XUEB.L vs. XQUA.L

Last updated Jun 5, 2026

XUEB.L (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) and XQUA.L (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D) are both Emerging Markets Bonds funds from Xtrackers tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 3 years, XUEB.L returned 10.31%/yr vs 5.25%/yr for XQUA.L. Their correlation of 0.92 suggests significant overlap in exposure. XUEB.L charges 0.25%/yr vs 0.45%/yr for XQUA.L.

Performance

XUEB.L vs. XQUA.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUEB.L achieves a 2.70% return, which is significantly higher than XQUA.L's 0.94% return.

XUEB.L

• 1D: 0.35%
• 1M: 1.05%
• YTD: 2.70%
• 6M: 3.15%
• 1Y: 12.65%
• 3Y*: 10.31%
• 5Y*: —
• 10Y*: —

XQUA.L

• 1D: 0.35%
• 1M: 0.59%
• YTD: 0.94%
• 6M: 0.97%
• 1Y: 8.08%
• 3Y*: 5.25%
• 5Y*: -0.11%
• 10Y*: 0.95%

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

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

	2026 (YTD)	2025	2024	2023	2022
XUEB.L Xtrackers II USD Emerging Markets Bond UCITS ETF 2C	2.70%	13.61%	6.10%	11.06%	5.53%
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D	0.94%	10.82%	-0.40%	7.51%	1.04%

Correlation

The correlation between XUEB.L and XQUA.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.92

The correlation between XUEB.L and XQUA.L has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

XUEB.L vs. XQUA.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: 72
XUEB.L Sharpe Ratio Rank: 71
XUEB.L Sortino Ratio Rank: 81
XUEB.L Omega Ratio Rank: 76
XUEB.L Calmar Ratio Rank: 63
XUEB.L Martin Ratio Rank: 70

XQUA.L

XQUA.L Risk / Return Rank: 49
XQUA.L Sharpe Ratio Rank: 51
XQUA.L Sortino Ratio Rank: 56
XQUA.L Omega Ratio Rank: 52
XQUA.L Calmar Ratio Rank: 42
XQUA.L Martin Ratio Rank: 45

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. XQUA.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.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	XQUA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.72	+0.56
Sortino ratio: Return per unit of downside risk	3.55	2.66	+0.89
Omega ratio: Gain probability vs. loss probability	1.45	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	3.08	2.00	+1.07
Martin ratio: Return relative to average drawdown	12.93	7.21	+5.73
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. XQUA.L - Sharpe Ratio Comparison

The current XUEB.L Sharpe Ratio is 2.28, which is higher than the XQUA.L Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of XUEB.L and XQUA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XUEB.L	XQUA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.72	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.11	+1.05

Drawdowns

XUEB.L vs. XQUA.L - Drawdown Comparison

The maximum XUEB.L drawdown since its inception was -14.08%, smaller than the maximum XQUA.L drawdown of -26.27%. Use the drawdown chart below to compare losses from any high point for XUEB.L and XQUA.L.

Drawdown Indicators

	XUEB.L	XQUA.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.08%	-26.27%	+12.19%
Max Drawdown (1Y) Largest decline over 1 year	-4.09%	-4.02%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-7.91%	-8.21%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.27%	—
Current Drawdown Current decline from peak	-0.01%	-2.91%	+2.90%
Average Drawdown Average peak-to-trough decline	-2.09%	-7.73%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	1.12%	-0.14%

Volatility

XUEB.L vs. XQUA.L - Volatility Comparison

Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.L) has a higher volatility of 1.98% compared to Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D (XQUA.L) at 1.74%. This indicates that XUEB.L's price experiences larger fluctuations and is considered to be riskier than XQUA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUEB.L	XQUA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	1.74%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	4.67%	3.72%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	5.54%	4.71%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	8.01%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.60%	8.65%	-0.05%

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

XUEB.L has a 0.25% expense ratio, which is lower than XQUA.L's 0.45% expense ratio.

Dividends

XUEB.L vs. XQUA.L - Dividend Comparison

XUEB.L has not paid dividends to shareholders, while XQUA.L's dividend yield for the trailing twelve months is around 4.61%.

Position	TTM	2025	2024	2023	2022	2021	2020
XQUA.L Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF 1D	4.61%	4.49%	4.61%	4.24%	6.92%	4.08%	4.54%
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%

Frequently Asked Questions

Can I hold both XUEB.L and XQUA.L in my portfolio?

XUEB.L and XQUA.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XUEB.L or XQUA.L?

On fees, XUEB.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XUEB.L or XQUA.L?

XUEB.L is cheaper with a 0.25% expense ratio, compared with 0.45% for XQUA.L.

What is the main difference between XUEB.L and XQUA.L?

Both ETFs track JPM EMBI Global Diversified TR USD. Their fees differ too: 0.25% for XUEB.L and 0.45% for XQUA.L.