CBUS.DE vs. VGOV.DE
CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged) while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 3 years, CBUS.DE returned 0.65%/yr vs 2.00%/yr for VGOV.DE. Their correlation of 0.85 suggests significant overlap in exposure. CBUS.DE charges 0.09%/yr vs 0.07%/yr for VGOV.DE.
Performance
CBUS.DE vs. VGOV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CBUS.DE achieves a -1.94% return, which is significantly lower than VGOV.DE's -0.51% return.
CBUS.DE
- 1D
- 0.20%
- 1M
- 0.46%
- YTD
- -1.94%
- 6M
- -1.87%
- 1Y
- 0.16%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
CBUS.DE vs. VGOV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | -1.94% | 3.15% | -5.02% | 2.14% | 5.57% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | 5.85% |
Correlation
The correlation between CBUS.DE and VGOV.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.85 |
The correlation between CBUS.DE and VGOV.DE has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.
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Return for Risk
CBUS.DE vs. VGOV.DE — Risk / Return Rank
CBUS.DE
VGOV.DE
CBUS.DE vs. VGOV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) and Vanguard UK Gilt UCITS ETF Distributing (VGOV.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.
| CBUS.DE | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.99 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.13 | +0.14 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.29 | +0.33 |
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
| CBUS.DE | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | -0.08 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | -0.13 | +0.24 |
Drawdowns
CBUS.DE vs. VGOV.DE - Drawdown Comparison
The maximum CBUS.DE drawdown since its inception was -12.79%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for CBUS.DE and VGOV.DE.
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Drawdown Indicators
| CBUS.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.79% | -40.95% | +28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -5.37% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -7.48% | -9.01% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.45% | — |
Current DrawdownCurrent decline from peak | -7.94% | -30.35% | +22.41% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -16.60% | +9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.35% | -0.17% |
Volatility
CBUS.DE vs. VGOV.DE - Volatility Comparison
The current volatility for iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) is 2.39%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that CBUS.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUS.DE | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 3.34% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 6.15% | -1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 7.99% | -1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.34% | 12.87% | -4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 11.86% | -3.52% |
CBUS.DE vs. VGOV.DE - Expense Ratio Comparison
CBUS.DE has a 0.09% expense ratio, which is higher than VGOV.DE's 0.07% 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
CBUS.DE vs. VGOV.DE - Dividend Comparison
CBUS.DE's dividend yield for the trailing twelve months is around 4.52%, less than VGOV.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | 4.52% | 4.23% | 3.74% | 2.40% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% |
Frequently Asked Questions
CBUS.DE and VGOV.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.09% for CBUS.DE.
CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged), while VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for CBUS.DE and 0.07% for VGOV.DE.
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