DBXP.DE vs. CBUS.DE
DBXP.DE (Xtrackers Eurozone Government Bond 1-3 UCITS ETF) and CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) are both European Government Bonds funds - DBXP.DE tracks the iBoxx® EUR Eurozone 1-3 while CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). Both are passively managed. Over the past 3 years, DBXP.DE returned 2.61%/yr vs 0.65%/yr for CBUS.DE. A 0.58 correlation means they provide meaningful diversification when combined. DBXP.DE charges 0.15%/yr vs 0.09%/yr for CBUS.DE.
Performance
DBXP.DE vs. CBUS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBXP.DE achieves a 0.04% return, which is significantly higher than CBUS.DE's -1.94% return.
DBXP.DE
- 1D
- 0.04%
- 1M
- 0.20%
- YTD
- 0.04%
- 6M
- 0.12%
- 1Y
- 0.80%
- 3Y*
- 2.61%
- 5Y*
- 0.67%
- 10Y*
- 0.22%
CBUS.DE
- 1D
- 0.20%
- 1M
- 1.30%
- YTD
- -1.94%
- 6M
- -2.08%
- 1Y
- 0.09%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
DBXP.DE vs. CBUS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBXP.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.04% | 2.21% | 2.99% | 3.41% | -0.39% |
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | -1.94% | 3.15% | -5.02% | 2.14% | 5.57% |
Correlation
The correlation between DBXP.DE and CBUS.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.58 |
The correlation between DBXP.DE and CBUS.DE has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
DBXP.DE vs. CBUS.DE — Risk / Return Rank
DBXP.DE
CBUS.DE
DBXP.DE vs. CBUS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Eurozone Government Bond 1-3 UCITS ETF (DBXP.DE) and iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.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.
| DBXP.DE | CBUS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.01 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 0.02 | +0.63 |
| Martin ratioReturn relative to average drawdown | 2.08 | 0.04 | +2.03 |
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
| DBXP.DE | CBUS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.01 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.12 | +0.44 |
Drawdowns
DBXP.DE vs. CBUS.DE - Drawdown Comparison
The maximum DBXP.DE drawdown since its inception was -6.77%, smaller than the maximum CBUS.DE drawdown of -12.79%. Use the drawdown chart below to compare losses from any high point for DBXP.DE and CBUS.DE.
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Drawdown Indicators
| DBXP.DE | CBUS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.77% | -12.79% | +6.02% |
Max Drawdown (1Y)Largest decline over 1 year | -1.24% | -5.66% | +4.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.24% | -7.48% | +6.24% |
Max Drawdown (5Y)Largest decline over 5 years | -5.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.77% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -7.94% | +7.39% |
Average DrawdownAverage peak-to-trough decline | -1.00% | -7.22% | +6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 2.18% | -1.79% |
Volatility
DBXP.DE vs. CBUS.DE - Volatility Comparison
The current volatility for Xtrackers Eurozone Government Bond 1-3 UCITS ETF (DBXP.DE) is 0.46%, while iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) has a volatility of 2.39%. This indicates that DBXP.DE experiences smaller price fluctuations and is considered to be less risky than CBUS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBXP.DE | CBUS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 2.39% | -1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 4.93% | -3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.22% | 6.13% | -4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.65% | 8.34% | -6.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.80% | 8.34% | -6.54% |
DBXP.DE vs. CBUS.DE - Expense Ratio Comparison
DBXP.DE has a 0.15% expense ratio, which is higher than CBUS.DE's 0.09% 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
DBXP.DE vs. CBUS.DE - Dividend Comparison
DBXP.DE has not paid dividends to shareholders, while CBUS.DE's dividend yield for the trailing twelve months is around 4.52%.
| 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% |
DBXP.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBXP.DE and CBUS.DE have a correlation of 0.57, 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 DBXP.DE.
DBXP.DE tracks iBoxx® EUR Eurozone 1-3, while CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.15% for DBXP.DE and 0.09% for CBUS.DE.
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