XUEK.DE vs. XESP.DE
XUEK.DE (Xtrackers S&P Europe ex UK UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds from Xtrackers - XUEK.DE tracks the MSCI Europe Ex UK NR EUR while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 5 years, XUEK.DE returned 9.45%/yr vs 18.91%/yr for XESP.DE. A 0.79 correlation means they provide meaningful diversification when combined. XUEK.DE charges 0.09%/yr vs 0.30%/yr for XESP.DE.
Performance
XUEK.DE vs. XESP.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XUEK.DE having a 7.14% return and XESP.DE slightly higher at 7.33%.
XUEK.DE
- 1D
- 0.60%
- 1M
- 1.36%
- YTD
- 7.14%
- 6M
- 9.35%
- 1Y
- 15.44%
- 3Y*
- 13.91%
- 5Y*
- 9.45%
- 10Y*
- —
XESP.DE
- 1D
- 0.58%
- 1M
- 1.35%
- YTD
- 7.33%
- 6M
- 11.94%
- 1Y
- 34.69%
- 3Y*
- 29.44%
- 5Y*
- 18.91%
- 10Y*
- —
XUEK.DE vs. XESP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XUEK.DE Xtrackers S&P Europe ex UK UCITS ETF | 7.14% | 21.19% | 7.43% | 18.01% | -12.81% | 25.44% | 1.91% | 18.96% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 7.33% | 58.64% | 14.65% | 26.79% | -1.62% | 10.88% | -10.20% | 7.50% |
Correlation
The correlation between XUEK.DE and XESP.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.79 |
The correlation between XUEK.DE and XESP.DE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
XUEK.DE vs. XESP.DE — Risk / Return Rank
XUEK.DE
XESP.DE
XUEK.DE vs. XESP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P Europe ex UK UCITS ETF (XUEK.DE) and Xtrackers Spanish Equity UCITS ETF (XESP.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.
| XUEK.DE | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.38 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 3.51 | -1.94 |
| Martin ratioReturn relative to average drawdown | 5.68 | 12.31 | -6.62 |
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
| XUEK.DE | XESP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 2.12 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 1.12 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.55 | +0.11 |
Drawdowns
XUEK.DE vs. XESP.DE - Drawdown Comparison
The maximum XUEK.DE drawdown since its inception was -34.81%, smaller than the maximum XESP.DE drawdown of -39.02%. Use the drawdown chart below to compare losses from any high point for XUEK.DE and XESP.DE.
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Drawdown Indicators
| XUEK.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.81% | -39.02% | +4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -9.85% | -10.17% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -16.50% | -12.93% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -22.94% | -18.59% | -4.35% |
Current DrawdownCurrent decline from peak | -1.21% | -0.54% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -7.37% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.91% | -0.18% |
Volatility
XUEK.DE vs. XESP.DE - Volatility Comparison
The current volatility for Xtrackers S&P Europe ex UK UCITS ETF (XUEK.DE) is 4.19%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 4.48%. This indicates that XUEK.DE experiences smaller price fluctuations and is considered to be less risky than XESP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUEK.DE | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 4.48% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 14.04% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 16.86% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.11% | 16.68% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.81% | 18.78% | -1.97% |
XUEK.DE vs. XESP.DE - Expense Ratio Comparison
XUEK.DE has a 0.09% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.
Dividends
XUEK.DE vs. XESP.DE - Dividend Comparison
XUEK.DE's dividend yield for the trailing twelve months is around 2.31%, while XESP.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
XESP.DE Xtrackers Spanish Equity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEK.DE Xtrackers S&P Europe ex UK UCITS ETF | 2.31% | 2.41% | 2.80% | 2.57% | 4.73% | 1.40% | 2.54% |
Frequently Asked Questions
XUEK.DE and XESP.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEK.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEK.DE is cheaper with a 0.09% expense ratio, compared with 0.30% for XESP.DE.
XUEK.DE tracks MSCI Europe Ex UK NR EUR, while XESP.DE tracks Solactive Spain 40. Their fees differ too: 0.09% for XUEK.DE and 0.30% for XESP.DE.
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