CBUS.DE vs. XZEB.DE
CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged) while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, CBUS.DE returned 0.65%/yr vs 1.37%/yr for XZEB.DE. A 0.75 correlation means they provide meaningful diversification when combined. CBUS.DE charges 0.09%/yr vs 0.15%/yr for XZEB.DE.
Performance
CBUS.DE vs. XZEB.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 XZEB.DE's 0.20% return.
CBUS.DE
- 1D
- 0.20%
- 1M
- 0.46%
- YTD
- -1.94%
- 6M
- -1.87%
- 1Y
- 0.16%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
CBUS.DE vs. XZEB.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% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -1.94% |
Correlation
The correlation between CBUS.DE and XZEB.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.75 |
The correlation between CBUS.DE and XZEB.DE has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.
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Return for Risk
CBUS.DE vs. XZEB.DE — Risk / Return Rank
CBUS.DE
XZEB.DE
CBUS.DE vs. XZEB.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 ESG Eurozone Government Bond UCITS ETF (XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.97 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.24 | +0.25 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.53 | +0.58 |
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 | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | -0.17 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | -0.11 | +0.22 |
Drawdowns
CBUS.DE vs. XZEB.DE - Drawdown Comparison
The maximum CBUS.DE drawdown since its inception was -12.79%, smaller than the maximum XZEB.DE drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for CBUS.DE and XZEB.DE.
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Drawdown Indicators
| CBUS.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.79% | -13.98% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -2.97% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -7.48% | -4.45% | -3.03% |
Current DrawdownCurrent decline from peak | -7.94% | -7.28% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -8.40% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.33% | +0.85% |
Volatility
CBUS.DE vs. XZEB.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 ESG Eurozone Government Bond UCITS ETF (XZEB.DE) at 1.57%. This indicates that CBUS.DE's price experiences larger fluctuations and is considered to be riskier than XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 1.57% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 3.45% | +1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 4.14% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.34% | 6.32% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 6.32% | +2.02% |
CBUS.DE vs. XZEB.DE - Expense Ratio Comparison
CBUS.DE has a 0.09% expense ratio, which is lower than XZEB.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. XZEB.DE - Dividend Comparison
CBUS.DE's dividend yield for the trailing twelve months is around 4.52%, while XZEB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | 4.52% | 4.23% | 3.74% | 2.40% | 0.13% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBUS.DE and XZEB.DE have a correlation of 0.75, 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 XZEB.DE.
CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged), while XZEB.DE tracks FTSE ESG Select EMU Government Bond. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.09% for CBUS.DE and 0.15% for XZEB.DE.
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