ZPR6.DE vs. XUEE.DE
ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) and XUEE.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged) while XUEE.DE tracks the FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). Both are passively managed. Over the past 3 years, ZPR6.DE returned 4.05%/yr vs 7.16%/yr for XUEE.DE. Their correlation of 0.81 suggests significant overlap in exposure. ZPR6.DE charges 0.47%/yr vs 0.40%/yr for XUEE.DE.
Performance
ZPR6.DE vs. XUEE.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 XUEE.DE's 1.11% 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*
- —
XUEE.DE
- 1D
- -0.01%
- 1M
- 0.45%
- YTD
- 1.11%
- 6M
- 1.53%
- 1Y
- 8.78%
- 3Y*
- 7.16%
- 5Y*
- —
- 10Y*
- —
ZPR6.DE vs. XUEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
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% | -0.88% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 1.11% | 10.44% | 3.34% | 7.63% | -21.79% | -0.09% |
Correlation
The correlation between ZPR6.DE and XUEE.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021 | 0.81 |
The correlation between ZPR6.DE and XUEE.DE has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
ZPR6.DE vs. XUEE.DE — Risk / Return Rank
ZPR6.DE
XUEE.DE
ZPR6.DE vs. XUEE.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 Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.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 | XUEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.03 | -0.29 |
| Martin ratioReturn relative to average drawdown | 7.22 | 7.91 | -0.69 |
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 | XUEE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.71 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | -0.07 | +0.14 |
Drawdowns
ZPR6.DE vs. XUEE.DE - Drawdown Comparison
The maximum ZPR6.DE drawdown since its inception was -13.50%, smaller than the maximum XUEE.DE drawdown of -30.78%. Use the drawdown chart below to compare losses from any high point for ZPR6.DE and XUEE.DE.
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Drawdown Indicators
| ZPR6.DE | XUEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.50% | -30.78% | +17.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.80% | -4.31% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -1.80% | -8.57% | +6.77% |
Max Drawdown (5Y)Largest decline over 5 years | -13.50% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -4.52% | +4.15% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -15.12% | +10.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.11% | -0.68% |
Volatility
ZPR6.DE vs. XUEE.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 Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) has a volatility of 1.82%. This indicates that ZPR6.DE experiences smaller price fluctuations and is considered to be less risky than XUEE.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 | XUEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 1.82% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 4.15% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 5.12% | -2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.41% | 9.14% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 9.14% | -4.01% |
ZPR6.DE vs. XUEE.DE - Expense Ratio Comparison
ZPR6.DE has a 0.47% expense ratio, which is higher than XUEE.DE's 0.40% expense ratio.
Dividends
ZPR6.DE vs. XUEE.DE - Dividend Comparison
ZPR6.DE has not paid dividends to shareholders, while XUEE.DE's dividend yield for the trailing twelve months is around 4.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 4.31% | 4.86% | 6.00% | 4.45% | 4.59% |
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% |
Frequently Asked Questions
ZPR6.DE and XUEE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEE.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEE.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 XUEE.DE tracks FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.47% for ZPR6.DE and 0.40% for XUEE.DE.
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