XUEM.DE vs. XEON.DE
XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - XUEM.DE is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 5 years, XUEM.DE returned 2.28%/yr vs 1.94%/yr for XEON.DE. At a correlation of -0.02, they often move in opposite directions. XUEM.DE charges 0.25%/yr vs 0.10%/yr for XEON.DE.
Performance
XUEM.DE vs. XEON.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 XEON.DE's 0.80% return.
XUEM.DE
- 1D
- -0.07%
- 1M
- 1.53%
- YTD
- 3.29%
- 6M
- 3.01%
- 1Y
- 9.59%
- 3Y*
- 6.62%
- 5Y*
- 2.28%
- 10Y*
- —
XEON.DE
- 1D
- -0.01%
- 1M
- 0.15%
- YTD
- 0.80%
- 6M
- 0.95%
- 1Y
- 1.95%
- 3Y*
- 2.99%
- 5Y*
- 1.94%
- 10Y*
- 0.70%
XUEM.DE vs. XEON.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% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.80% | 2.25% | 3.78% | 3.30% | -0.04% | -0.58% | -0.57% | -0.49% | -0.28% |
Correlation
The correlation between XUEM.DE and XEON.DE is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 17, 2018 | -0.02 |
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Return for Risk
XUEM.DE vs. XEON.DE — Risk / Return Rank
XUEM.DE
XEON.DE
XUEM.DE vs. XEON.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 Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.29 | ||
| Sortino ratioReturn per unit of downside risk | -18.82 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 4.27 | -2.97 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 69.36 | -65.84 |
| Martin ratioReturn relative to average drawdown | 10.09 | 316.53 | -306.44 |
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 | XEON.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 8.94 | -7.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 7.54 | -7.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.74 | -0.46 |
Drawdowns
XUEM.DE vs. XEON.DE - Drawdown Comparison
The maximum XUEM.DE drawdown since its inception was -26.83%, which is greater than XEON.DE's maximum drawdown of -3.71%. Use the drawdown chart below to compare losses from any high point for XUEM.DE and XEON.DE.
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Drawdown Indicators
| XUEM.DE | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.83% | -3.71% | -23.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -0.03% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -0.08% | -13.37% |
Max Drawdown (5Y)Largest decline over 5 years | -17.85% | -0.71% | -17.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.25% | — |
Current DrawdownCurrent decline from peak | -2.82% | -0.01% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -0.92% | -9.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.01% | +0.94% |
Volatility
XUEM.DE vs. XEON.DE - Volatility Comparison
Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) has a higher volatility of 1.06% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 0.04%. This indicates that XUEM.DE's price experiences larger fluctuations and is considered to be riskier than XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.04% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 0.16% | +3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 0.22% | +5.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.74% | 0.25% | +8.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.44% | 0.39% | +10.05% |
XUEM.DE vs. XEON.DE - Expense Ratio Comparison
XUEM.DE has a 0.25% expense ratio, which is higher than XEON.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XUEM.DE vs. XEON.DE - Dividend Comparison
XUEM.DE's dividend yield for the trailing twelve months is around 4.46%, while XEON.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 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 | 4.46% | 4.97% | 6.06% | 5.00% | 5.62% | 6.82% | 4.07% | 0.54% |
Frequently Asked Questions
XUEM.DE and XEON.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XUEM.DE.
XUEM.DE is categorized as Emerging Markets Bonds, while XEON.DE is Bank Loan. XUEM.DE tracks JPM EMBI Global Diversified TR USD, while XEON.DE tracks Solactive €STR +8.5 Daily Index. Their fees differ too: 0.25% for XUEM.DE and 0.10% for XEON.DE.
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