ZPR6.DE vs. UEFE.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and UEFE.DE (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while UEFE.DE tracks the JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. Both are passively managed. Over the past 5 years, ZPR6.DE returned 0.23%/yr vs 4.93%/yr for UEFE.DE. At a 0.20 correlation, their price movements are largely independent. ZPR6.DE charges 0.47%/yr vs 0.40%/yr for UEFE.DE.
Performance
ZPR6.DE vs. UEFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR6.DE achieves a 0.15% return, which is significantly lower than UEFE.DE's 2.04% return.
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
UEFE.DE
- 1D
- -0.42%
- 1M
- 1.32%
- YTD
- 2.04%
- 6M
- 2.08%
- 1Y
- 8.10%
- 3Y*
- 7.16%
- 5Y*
- 4.93%
- 10Y*
- —
ZPR6.DE vs. UEFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | -9.09% | -1.17% | 0.69% | -0.12% |
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 2.04% | 5.88% | 6.93% | 15.75% | -6.22% | 2.54% | -2.71% | 9.25% |
Correlation
The correlation between ZPR6.DE and UEFE.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2019 | 0.20 |
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Return for Risk
ZPR6.DE vs. UEFE.DE — Risk / Return Rank
ZPR6.DE
UEFE.DE
ZPR6.DE vs. UEFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.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.
| ZPR6.DE | UEFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.06 | -0.32 |
| Martin ratioReturn relative to average drawdown | 7.22 | 7.08 | +0.13 |
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
| ZPR6.DE | UEFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.48 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.58 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.66 | -0.59 |
Drawdowns
ZPR6.DE vs. UEFE.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, smaller than the maximum UEFE.DE drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and UEFE.DE.
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Drawdown Indicators
| ZPR6.DE | UEFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -23.72% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -3.93% | +2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | -8.02% | +6.22% |
Max Drawdown (5Y)Largest decline over 5 years | -13.50% | -12.46% | -1.04% |
Current DrawdownCurrent decline from peak | -0.37% | -1.03% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -4.41% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.14% | -0.71% |
Volatility
ZPR6.DE vs. UEFE.DE - Volatility Comparison
The current volatility for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) is 0.61%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (UEFE.DE) has a volatility of 1.93%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than UEFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPR6.DE | UEFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 1.93% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 4.64% | -2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 5.46% | -2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 8.44% | -4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 9.82% | -4.69% |
ZPR6.DE vs. UEFE.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is higher than UEFE.DE's 0.40% expense ratio.
Dividends
ZPR6.DE vs. UEFE.DE - Dividend Comparison
ZPR6.DE has not paid dividends to shareholders, while UEFE.DE's dividend yield for the trailing twelve months is around 4.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
UEFE.DE UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 4.67% | 5.37% | 7.09% | 8.64% | 6.79% | 8.96% | 9.53% | 9.22% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPR6.DE and UEFE.DE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFE.DE is cheaper with a 0.40% expense ratio, compared with 0.47% for ZPR6.DE.
ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged), while UEFE.DE tracks JP Morgan Emerging Markets Multi-Factor Enhanced Local Currency Bond. They also come from different issuers: State Street and UBS. Their fees differ too: 0.47% for ZPR6.DE and 0.40% for UEFE.DE.
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