XUEM.DE vs. VGEM.DE
XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - XUEM.DE tracks the JPM EMBI Global Diversified TR USD while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, XUEM.DE returned 2.28%/yr vs 2.73%/yr for VGEM.DE. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
XUEM.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEM.DE achieves a 3.29% return, which is significantly higher than VGEM.DE's 2.34% return.
XUEM.DE
- 1D
- -0.07%
- 1M
- 1.15%
- YTD
- 3.29%
- 6M
- 2.78%
- 1Y
- 9.90%
- 3Y*
- 6.62%
- 5Y*
- 2.28%
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.10%
- YTD
- 2.34%
- 6M
- 1.66%
- 1Y
- 6.87%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
XUEM.DE vs. VGEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 3.29% | 0.43% | 11.58% | 6.72% | -14.47% | 4.14% | -6.64% | 17.85% | 4.17% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -3.91% | 15.57% | 3.28% |
Correlation
The correlation between XUEM.DE and VGEM.DE 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 (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 17, 2018 | 0.90 |
The correlation between XUEM.DE and VGEM.DE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
XUEM.DE vs. VGEM.DE — Risk / Return Rank
XUEM.DE
VGEM.DE
XUEM.DE vs. VGEM.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 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.
| XUEM.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.21 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.16 | +1.36 |
| Martin ratioReturn relative to average drawdown | 10.09 | 5.71 | +4.39 |
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
| XUEM.DE | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 1.13 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.34 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.29 | -0.01 |
Drawdowns
XUEM.DE vs. VGEM.DE - Drawdown Comparison
The maximum XUEM.DE drawdown since its inception was -26.83%, 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 XUEM.DE and VGEM.DE.
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Drawdown Indicators
| XUEM.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.83% | -19.64% | -7.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -3.10% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -11.98% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -17.85% | -12.46% | -5.39% |
Current DrawdownCurrent decline from peak | -2.82% | -2.18% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -6.63% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.17% | -0.22% |
Volatility
XUEM.DE vs. VGEM.DE - Volatility Comparison
The current volatility for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) is 1.06%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) has a volatility of 1.18%. This indicates that XUEM.DE experiences smaller price fluctuations and is considered to be less risky 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
| XUEM.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.18% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 3.96% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.93% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.74% | 7.89% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.44% | 8.77% | +1.67% |
XUEM.DE vs. VGEM.DE - Expense Ratio Comparison
Both XUEM.DE and VGEM.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XUEM.DE vs. VGEM.DE - Dividend Comparison
XUEM.DE's dividend yield for the trailing twelve months is around 4.46%, 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% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 4.46% | 4.97% | 6.06% | 5.00% | 5.62% | 6.82% | 4.07% | 0.54% | 0.00% | 0.00% |
Frequently Asked Questions
XUEM.DE and VGEM.DE 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.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.DE and VGEM.DE have the same expense ratio: 0.25% per year.
XUEM.DE tracks JPM EMBI Global Diversified TR USD, while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: Xtrackers and Vanguard.
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