DBZB.DE vs. IS3M.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and IS3M.DE (iShares € Ultrashort Bond UCITS ETF) are both exchange-traded funds - DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged), while IS3M.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 10 years, DBZB.DE returned -0.99%/yr vs 1.01%/yr for IS3M.DE. At a 0.06 correlation, their price movements are largely independent. DBZB.DE charges 0.25%/yr vs 0.09%/yr for IS3M.DE.
Performance
DBZB.DE vs. IS3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBZB.DE achieves a -0.71% return, which is significantly lower than IS3M.DE's 0.92% return. Over the past 10 years, DBZB.DE has underperformed IS3M.DE with an annualized return of -0.99%, while IS3M.DE has yielded a comparatively higher 1.01% annualized return.
DBZB.DE
- 1D
- 0.15%
- 1M
- 0.28%
- YTD
- -0.71%
- 6M
- -1.15%
- 1Y
- -0.05%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
IS3M.DE
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- 0.92%
- 6M
- 1.01%
- 1Y
- 2.26%
- 3Y*
- 3.34%
- 5Y*
- 2.10%
- 10Y*
- 1.01%
DBZB.DE vs. IS3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 4.55% | -0.36% | -0.12% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 0.92% | 2.61% | 4.12% | 3.42% | -0.29% | -0.36% | 0.09% | 0.34% | -0.62% | -0.09% |
Correlation
The correlation between DBZB.DE and IS3M.DE is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2013 | 0.06 |
The correlation between DBZB.DE and IS3M.DE shifts across timeframes, from -0.05 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBZB.DE vs. IS3M.DE — Risk / Return Rank
DBZB.DE
IS3M.DE
DBZB.DE vs. IS3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) and iShares € Ultrashort Bond UCITS ETF (IS3M.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.
| DBZB.DE | IS3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.64 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 7.59 | -7.60 |
| Martin ratioReturn relative to average drawdown | -0.04 | 49.96 | -50.00 |
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
| DBZB.DE | IS3M.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 2.95 | -2.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | 2.74 | -3.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | 0.91 | -1.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.86 | -0.64 |
Drawdowns
DBZB.DE vs. IS3M.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, which is greater than IS3M.DE's maximum drawdown of -3.80%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and IS3M.DE.
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Drawdown Indicators
| DBZB.DE | IS3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -3.80% | -18.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -0.30% | -3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -0.47% | -4.67% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -1.21% | -18.30% |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | -3.80% | -18.08% |
Current DrawdownCurrent decline from peak | -16.44% | -0.01% | -16.43% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -0.29% | -5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.05% | +1.21% |
Volatility
DBZB.DE vs. IS3M.DE - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) has a higher volatility of 1.48% compared to iShares € Ultrashort Bond UCITS ETF (IS3M.DE) at 0.29%. This indicates that DBZB.DE's price experiences larger fluctuations and is considered to be riskier than IS3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBZB.DE | IS3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.29% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 0.59% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 0.76% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 0.76% | +4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 1.11% | +3.63% |
DBZB.DE vs. IS3M.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than IS3M.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
DBZB.DE vs. IS3M.DE - Dividend Comparison
DBZB.DE has not paid dividends to shareholders, while IS3M.DE's dividend yield for the trailing twelve months is around 3.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 3.29% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
Frequently Asked Questions
DBZB.DE and IS3M.DE have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3M.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3M.DE is cheaper with a 0.09% expense ratio, compared with 0.25% for DBZB.DE.
DBZB.DE is categorized as Global Bonds, while IS3M.DE is Ultrashort Bond. DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while IS3M.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for DBZB.DE and 0.09% for IS3M.DE.
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