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D5BC.DE vs. X03B.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

D5BC.DE vs. X03B.DE

Last updated Jun 5, 2026

D5BC.DE (Xtrackers II Germany Government Bond 1-3 UCITS ETF) and X03B.DE (Xtrackers Eurozone Government Bond 1-3 UCITS ETF) are both European Government Bonds funds from Xtrackers - D5BC.DE tracks the iBoxx® EUR Germany 1-3 while X03B.DE tracks the iBoxx® EUR Eurozone 1-3. Both are passively managed. Over the past 10 years, D5BC.DE returned -0.22%/yr vs 0.23%/yr for X03B.DE. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

D5BC.DE vs. X03B.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II Germany Government Bond 1-3 UCITS ETF (D5BC.DE) and Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.DE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, D5BC.DE achieves a 0.01% return, which is significantly lower than X03B.DE's 0.05% return. Over the past 10 years, D5BC.DE has underperformed X03B.DE with an annualized return of -0.22%, while X03B.DE has yielded a comparatively higher 0.23% annualized return.

D5BC.DE

1D
0.03%
1M
0.22%
YTD
0.01%
6M
0.06%
1Y
0.50%
3Y*
2.03%
5Y*
0.22%
10Y*
-0.22%

X03B.DE

1D
0.04%
1M
0.27%
YTD
0.05%
6M
0.17%
1Y
0.81%
3Y*
2.63%
5Y*
0.68%
10Y*
0.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

D5BC.DE vs. X03B.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
D5BC.DE
Xtrackers II Germany Government Bond 1-3 UCITS ETF		0.01%1.69%2.24%2.60%-4.78%-0.95%-0.76%-0.89%-0.01%-1.07%
X03B.DE
Xtrackers Eurozone Government Bond 1-3 UCITS ETF		0.05%2.25%3.05%3.35%-4.64%-0.79%-0.13%0.14%-0.34%-0.48%

Correlation

The correlation between D5BC.DE and X03B.DE is 0.91, 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

0.91

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (10Y)
Calculated over the trailing 10-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Jan 10, 2012

0.61

Over the past year, D5BC.DE and X03B.DE have become more correlated (0.91) than their long-term average of 0.61, meaning their price movements have been converging.

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Xtrackers II Germany Government Bond 1-3 UCITS ETF

Xtrackers Eurozone Government Bond 1-3 UCITS ETF

Often compared with D5BC.DE:
D5BC.DE vs. EGV3.DED5BC.DE vs. JE13.DED5BC.DE vs. IBCN.DED5BC.DE vs. MTDD.DED5BC.DE vs. SYBB.DED5BC.DE vs. LYQ2.DED5BC.DE vs. XYP1.DE
Often compared with X03B.DE:
X03B.DE vs. EGV3.DEX03B.DE vs. SPFB.DEX03B.DE vs. VECA.DEX03B.DE vs. IS04.DEX03B.DE vs. MTDD.DEX03B.DE vs. JE13.DEX03B.DE vs. PRAR.DE

Return for Risk

D5BC.DE vs. X03B.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
D5BC.DE
D5BC.DE Risk / Return Rank: 1616
Overall Rank
D5BC.DE Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
D5BC.DE Sortino Ratio Rank: 1515
Sortino Ratio Rank
D5BC.DE Omega Ratio Rank: 1616
Omega Ratio Rank
D5BC.DE Calmar Ratio Rank: 1515
Calmar Ratio Rank
D5BC.DE Martin Ratio Rank: 1616
Martin Ratio Rank
X03B.DE
X03B.DE Risk / Return Rank: 1919
Overall Rank
X03B.DE Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
X03B.DE Sortino Ratio Rank: 1818
Sortino Ratio Rank
X03B.DE Omega Ratio Rank: 2020
Omega Ratio Rank
X03B.DE Calmar Ratio Rank: 1717
Calmar Ratio Rank
X03B.DE Martin Ratio Rank: 1919
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

D5BC.DE vs. X03B.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Germany Government Bond 1-3 UCITS ETF (D5BC.DE) and Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.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.

D5BC.DEX03B.DEDifference
Sharpe ratioReturn per unit of total volatility
0.45
0.62

-0.17

Sortino ratioReturn per unit of downside risk
0.66
0.91

-0.25

Omega ratioGain probability vs. loss probability

1.09

1.13

-0.04

Calmar ratioReturn relative to maximum drawdown

0.46

0.63

-0.17

Martin ratioReturn relative to average drawdown

1.39

2.04

-0.65

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

D5BC.DE vs. X03B.DE - Sharpe Ratio Comparison

The current D5BC.DE Sharpe Ratio is 0.45, which is comparable to the X03B.DE Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of D5BC.DE and X03B.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

D5BC.DEX03B.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.45

0.62

-0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.14

0.41

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.18

0.17

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.14

0.57

-0.44

Drawdowns

D5BC.DE vs. X03B.DE - Drawdown Comparison

The maximum D5BC.DE drawdown since its inception was -9.22%, which is greater than X03B.DE's maximum drawdown of -6.78%. Use the drawdown chart below to compare losses from any high point for D5BC.DE and X03B.DE.

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Drawdown Indicators

D5BC.DEX03B.DEDifference

Max Drawdown

Largest peak-to-trough decline

-9.22%

-6.78%

-2.44%

Max Drawdown (1Y)

Largest decline over 1 year

-1.08%

-1.28%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-1.08%

-1.28%

+0.20%

Max Drawdown (5Y)

Largest decline over 5 years

-6.12%

-5.67%

-0.45%

Max Drawdown (10Y)

Largest decline over 10 years

-9.22%

-6.78%

-2.44%

Current Drawdown

Current decline from peak

-2.33%

-0.51%

-1.82%

Average Drawdown

Average peak-to-trough decline

-2.32%

-1.19%

-1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

0.40%

-0.04%

Volatility

D5BC.DE vs. X03B.DE - Volatility Comparison

The current volatility for Xtrackers II Germany Government Bond 1-3 UCITS ETF (D5BC.DE) is 0.42%, while Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.DE) has a volatility of 0.50%. This indicates that D5BC.DE experiences smaller price fluctuations and is considered to be less risky than X03B.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

D5BC.DEX03B.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.42%

0.50%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

1.01%

1.20%

-0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

1.11%

1.30%

-0.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.57%

1.63%

-0.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.21%

1.32%

-0.11%

D5BC.DE vs. X03B.DE - Expense Ratio Comparison

Both D5BC.DE and X03B.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

D5BC.DE vs. X03B.DE - Dividend Comparison

D5BC.DE's dividend yield for the trailing twelve months is around 1.26%, less than X03B.DE's 1.53% yield.

PositionTTM20252024202320222021202020192018201720162015
D5BC.DE
Xtrackers II Germany Government Bond 1-3 UCITS ETF		1.26%1.05%0.35%0.62%1.27%0.76%0.00%0.00%0.47%0.00%0.46%0.54%
X03B.DE
Xtrackers Eurozone Government Bond 1-3 UCITS ETF		1.53%1.39%0.98%0.28%0.12%0.13%0.00%0.00%0.00%0.00%0.65%0.66%

Frequently Asked Questions

With a correlation of 0.91, D5BC.DE and X03B.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

D5BC.DE and X03B.DE have the same expense ratio: 0.15% per year.

D5BC.DE tracks iBoxx® EUR Germany 1-3, while X03B.DE tracks iBoxx® EUR Eurozone 1-3.

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