XUEE.DE vs. SPFA.DE
XUEE.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged) and SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds - XUEE.DE tracks the FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged) while SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past 3 years, XUEE.DE returned 7.16%/yr vs 2.58%/yr for SPFA.DE. At a 0.29 correlation, their price movements are largely independent. XUEE.DE charges 0.40%/yr vs 0.55%/yr for SPFA.DE.
Performance
XUEE.DE vs. SPFA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEE.DE achieves a 1.11% return, which is significantly higher than SPFA.DE's 0.46% return.
XUEE.DE
- 1D
- -0.01%
- 1M
- 0.45%
- YTD
- 1.11%
- 6M
- 1.53%
- 1Y
- 8.78%
- 3Y*
- 7.16%
- 5Y*
- —
- 10Y*
- —
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 10Y*
- —
XUEE.DE vs. SPFA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 1.11% | 10.44% | 3.34% | 7.63% | -21.79% | -0.09% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.19% | 5.66% | -4.47% | 0.72% |
Correlation
The correlation between XUEE.DE and SPFA.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021 | 0.29 |
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Return for Risk
XUEE.DE vs. SPFA.DE — Risk / Return Rank
XUEE.DE
SPFA.DE
XUEE.DE vs. SPFA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) and SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.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.
| XUEE.DE | SPFA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.11 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 0.83 | +1.20 |
| Martin ratioReturn relative to average drawdown | 7.91 | 2.62 | +5.29 |
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
| XUEE.DE | SPFA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 0.62 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.26 | -0.33 |
Drawdowns
XUEE.DE vs. SPFA.DE - Drawdown Comparison
The maximum XUEE.DE drawdown since its inception was -30.78%, which is greater than SPFA.DE's maximum drawdown of -16.39%. Use the drawdown chart below to compare losses from any high point for XUEE.DE and SPFA.DE.
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Drawdown Indicators
| XUEE.DE | SPFA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.78% | -16.39% | -14.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -3.96% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -8.57% | -7.66% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.51% | — |
Current DrawdownCurrent decline from peak | -4.52% | -3.19% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -7.62% | -7.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 1.26% | -0.15% |
Volatility
XUEE.DE vs. SPFA.DE - Volatility Comparison
Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) and SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) have volatilities of 1.82% and 1.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUEE.DE | SPFA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.83% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.15% | 4.51% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 5.31% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 6.24% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.14% | 7.05% | +2.09% |
XUEE.DE vs. SPFA.DE - Expense Ratio Comparison
XUEE.DE has a 0.40% expense ratio, which is lower than SPFA.DE's 0.55% expense ratio.
Dividends
XUEE.DE vs. SPFA.DE - Dividend Comparison
XUEE.DE's dividend yield for the trailing twelve months is around 4.31%, while SPFA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 4.31% | 4.86% | 6.00% | 4.45% | 4.59% |
Frequently Asked Questions
XUEE.DE and SPFA.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEE.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for SPFA.DE.
XUEE.DE tracks FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged), while SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.40% for XUEE.DE and 0.55% for SPFA.DE.
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