XUEE.DE vs. VGEM.DE
XUEE.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - XUEE.DE tracks the FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged) while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 3 years, XUEE.DE returned 7.16%/yr vs 5.24%/yr for VGEM.DE. At a 0.43 correlation, their price movements are largely independent. XUEE.DE charges 0.40%/yr vs 0.25%/yr for VGEM.DE.
Performance
XUEE.DE vs. VGEM.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 lower than VGEM.DE's 2.34% return.
XUEE.DE
- 1D
- -0.01%
- 1M
- 0.45%
- YTD
- 1.11%
- 6M
- 1.53%
- 1Y
- 8.78%
- 3Y*
- 7.16%
- 5Y*
- —
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
XUEE.DE vs. VGEM.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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 3.23% |
Correlation
The correlation between XUEE.DE and VGEM.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021 | 0.43 |
The correlation between XUEE.DE and VGEM.DE shifts across timeframes, from 0.29 (1 year) to 0.44 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XUEE.DE vs. VGEM.DE — Risk / Return Rank
XUEE.DE
VGEM.DE
XUEE.DE vs. VGEM.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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 | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 2.16 | -0.13 |
| Martin ratioReturn relative to average drawdown | 7.91 | 5.71 | +2.20 |
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 | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.13 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.29 | -0.36 |
Drawdowns
XUEE.DE vs. VGEM.DE - Drawdown Comparison
The maximum XUEE.DE drawdown since its inception was -30.78%, which is greater than VGEM.DE's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for XUEE.DE and VGEM.DE.
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Drawdown Indicators
| XUEE.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.78% | -19.64% | -11.14% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -3.10% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.57% | -11.98% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.46% | — |
Current DrawdownCurrent decline from peak | -4.52% | -2.18% | -2.34% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -6.63% | -8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 1.17% | -0.06% |
Volatility
XUEE.DE vs. VGEM.DE - Volatility Comparison
Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) has a higher volatility of 1.82% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) at 1.18%. This indicates that XUEE.DE's price experiences larger fluctuations and is considered to be riskier than VGEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUEE.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.18% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.15% | 3.96% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 5.93% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.14% | 7.89% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.14% | 8.77% | +0.37% |
XUEE.DE vs. VGEM.DE - Expense Ratio Comparison
XUEE.DE has a 0.40% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
XUEE.DE vs. VGEM.DE - Dividend Comparison
XUEE.DE's dividend yield for the trailing twelve months is around 4.31%, less than VGEM.DE's 5.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 4.31% | 4.86% | 6.00% | 4.45% | 4.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XUEE.DE and VGEM.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for XUEE.DE.
XUEE.DE tracks FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged), while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.40% for XUEE.DE and 0.25% for VGEM.DE.
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