CBUS.DE vs. X03G.DE
CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) and X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) are both European Government Bonds funds - CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged) while X03G.DE tracks the iBoxx® EUR Germany. Both are passively managed. Over the past 3 years, CBUS.DE returned 0.65%/yr vs 0.86%/yr for X03G.DE. A 0.74 correlation means they provide meaningful diversification when combined. CBUS.DE charges 0.09%/yr vs 0.15%/yr for X03G.DE.
Performance
CBUS.DE vs. X03G.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 X03G.DE's -0.04% return.
CBUS.DE
- 1D
- 0.20%
- 1M
- 0.46%
- YTD
- -1.94%
- 6M
- -1.87%
- 1Y
- 0.16%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
X03G.DE
- 1D
- 0.11%
- 1M
- -0.00%
- YTD
- -0.04%
- 6M
- -0.24%
- 1Y
- -0.95%
- 3Y*
- 0.86%
- 5Y*
- -3.03%
- 10Y*
- -1.28%
CBUS.DE vs. X03G.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% |
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | -0.04% | -1.48% | 0.14% | 5.23% | -2.19% |
Correlation
The correlation between CBUS.DE and X03G.DE is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.74 |
The correlation between CBUS.DE and X03G.DE has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.
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Return for Risk
CBUS.DE vs. X03G.DE — Risk / Return Rank
CBUS.DE
X03G.DE
CBUS.DE vs. X03G.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 Xtrackers II Germany Government Bond UCITS ETF (X03G.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 | X03G.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.94 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.47 | +0.49 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.99 | +1.03 |
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 | X03G.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | -0.37 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.04 | +0.07 |
Drawdowns
CBUS.DE vs. X03G.DE - Drawdown Comparison
The maximum CBUS.DE drawdown since its inception was -12.79%, smaller than the maximum X03G.DE drawdown of -23.87%. Use the drawdown chart below to compare losses from any high point for CBUS.DE and X03G.DE.
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Drawdown Indicators
| CBUS.DE | X03G.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.79% | -23.87% | +11.08% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -2.89% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -7.48% | -5.00% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.87% | — |
Current DrawdownCurrent decline from peak | -7.94% | -19.28% | +11.34% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -7.77% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.38% | +0.80% |
Volatility
CBUS.DE vs. X03G.DE - Volatility Comparison
iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) has a higher volatility of 2.39% compared to Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) at 1.43%. This indicates that CBUS.DE's price experiences larger fluctuations and is considered to be riskier than X03G.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 | X03G.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 1.43% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 2.89% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 3.68% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.34% | 6.16% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 5.15% | +3.19% |
CBUS.DE vs. X03G.DE - Expense Ratio Comparison
CBUS.DE has a 0.09% expense ratio, which is lower than X03G.DE's 0.15% expense ratio. Despite the difference, 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. X03G.DE - Dividend Comparison
CBUS.DE's dividend yield for the trailing twelve months is around 4.52%, while X03G.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.33% |
Frequently Asked Questions
CBUS.DE and X03G.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUS.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUS.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for X03G.DE.
CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged), while X03G.DE tracks iBoxx® EUR Germany. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.09% for CBUS.DE and 0.15% for X03G.DE.
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