XUEM.DE vs. SNAZ.DE
XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) and SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) are both Emerging Markets Bonds funds - XUEM.DE tracks the JPM EMBI Global Diversified TR USD while SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, XUEM.DE returned 2.37%/yr vs -0.19%/yr for SNAZ.DE. At a 0.37 correlation, their price movements are largely independent. XUEM.DE charges 0.25%/yr vs 0.53%/yr for SNAZ.DE.
Performance
XUEM.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEM.DE achieves a 5.37% return, which is significantly higher than SNAZ.DE's 0.59% return.
XUEM.DE
- 1D
- -0.19%
- 1M
- 0.67%
- 6M
- 4.45%
- YTD
- 5.37%
- 1Y
- 12.57%
- 3Y*
- 8.38%
- 5Y*
- 2.37%
- 10Y*
- —
SNAZ.DE
- 1D
- 0.20%
- 1M
- 0.00%
- 6M
- 0.39%
- YTD
- 0.59%
- 1Y
- 3.85%
- 3Y*
- 4.86%
- 5Y*
- -0.19%
- 10Y*
- —
XUEM.DE vs. SNAZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.37% | 1.05% | 12.16% | 7.17% | -14.21% | 5.47% | -4.81% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.59% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
Correlation
The correlation between XUEM.DE and SNAZ.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 | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | 0.37 |
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Return for Risk
XUEM.DE vs. SNAZ.DE — Risk / Return Rank
XUEM.DE
SNAZ.DE
XUEM.DE vs. SNAZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XUEM.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.22 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.66 | 1.32 | +3.34 |
| Martin ratioReturn relative to average drawdown | 13.83 | 4.83 | +9.01 |
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Drawdowns
XUEM.DE vs. SNAZ.DE - Drawdown Comparison
The maximum XUEM.DE drawdown since its inception was -26.81%, which is greater than SNAZ.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for XUEM.DE and SNAZ.DE.
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Drawdown Indicators
| XUEM.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.81% | -21.88% | -4.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -2.91% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -3.82% | -9.59% |
Max Drawdown (5Y)Largest decline over 5 years | -17.53% | -21.88% | +4.35% |
Current DrawdownCurrent decline from peak | -1.13% | -1.73% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -10.03% | -7.61% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.80% | +0.11% |
Volatility
XUEM.DE vs. SNAZ.DE - Volatility Comparison
Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) has a higher volatility of 1.44% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) at 0.98%. This indicates that XUEM.DE's price experiences larger fluctuations and is considered to be riskier than SNAZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUEM.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 0.98% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 2.77% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 3.40% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 5.06% | +3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.74% | 7.63% | +4.11% |
XUEM.DE vs. SNAZ.DE - Expense Ratio Comparison
XUEM.DE has a 0.25% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
XUEM.DE vs. SNAZ.DE - Dividend Comparison
XUEM.DE's dividend yield for the trailing twelve months is around 5.12%, while SNAZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.12% | 5.56% | 6.56% | 5.40% | 5.95% | 8.12% | 4.58% | 0.61% |
Frequently Asked Questions
XUEM.DE and SNAZ.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, XUEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.DE is cheaper with a 0.25% expense ratio, compared with 0.53% for SNAZ.DE.
XUEM.DE tracks JPM EMBI Global Diversified TR USD, while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XUEM.DE and 0.53% for SNAZ.DE.
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