DBZB.DE vs. SPFB.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and SPFB.DE (SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged) are both Global Bonds funds - DBZB.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged) while SPFB.DE tracks the Bloomberg Global Aggregate Bond (GBP Hedged). Both are passively managed. Over the past 5 years, DBZB.DE returned -2.54%/yr vs 0.23%/yr for SPFB.DE. Their correlation of 0.84 suggests significant overlap in exposure. DBZB.DE charges 0.25%/yr vs 0.10%/yr for SPFB.DE.
Performance
DBZB.DE vs. SPFB.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 SPFB.DE's 0.61% 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%
SPFB.DE
- 1D
- 0.21%
- 1M
- 0.52%
- YTD
- 0.61%
- 6M
- 0.77%
- 1Y
- 3.39%
- 3Y*
- 3.94%
- 5Y*
- 0.23%
- 10Y*
- —
DBZB.DE vs. SPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.89% |
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 0.61% | 4.84% | 2.82% | 5.74% | -12.07% | -1.58% | 4.34% | 6.46% | 1.06% |
Correlation
The correlation between DBZB.DE and SPFB.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.84 |
The correlation between DBZB.DE and SPFB.DE has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
DBZB.DE vs. SPFB.DE — Risk / Return Rank
DBZB.DE
SPFB.DE
DBZB.DE vs. SPFB.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 SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.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 | SPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.20 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.46 | -1.48 |
| Martin ratioReturn relative to average drawdown | -0.04 | 4.25 | -4.29 |
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 | SPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 1.12 | -1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | 0.05 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.34 | -0.12 |
Drawdowns
DBZB.DE vs. SPFB.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, which is greater than SPFB.DE's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and SPFB.DE.
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Drawdown Indicators
| DBZB.DE | SPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -15.78% | -6.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -2.31% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -3.59% | -1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -15.55% | -3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | — | — |
Current DrawdownCurrent decline from peak | -16.44% | -1.01% | -15.43% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -4.52% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.79% | +0.47% |
Volatility
DBZB.DE vs. SPFB.DE - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) has a higher volatility of 1.48% compared to SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.DE) at 1.39%. This indicates that DBZB.DE's price experiences larger fluctuations and is considered to be riskier than SPFB.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 | SPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.39% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.47% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.01% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 4.35% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 3.84% | +0.90% |
DBZB.DE vs. SPFB.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than SPFB.DE's 0.10% 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. SPFB.DE - Dividend Comparison
DBZB.DE has not paid dividends to shareholders, while SPFB.DE's dividend yield for the trailing twelve months is around 3.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 3.09% | 3.07% | 2.70% | 1.91% | 1.48% | 1.18% | 1.51% | 1.70% | 0.88% |
Frequently Asked Questions
DBZB.DE and SPFB.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFB.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFB.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for DBZB.DE.
DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while SPFB.DE tracks Bloomberg Global Aggregate Bond (GBP Hedged). They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.25% for DBZB.DE and 0.10% for SPFB.DE.
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