DBZB.DE vs. SPFE.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and SPFE.DE (SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged) are both Global Bonds funds - DBZB.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged) while SPFE.DE tracks the Bloomberg Global Aggregate Bond (EUR Hedged). Both are passively managed. Over the past 5 years, DBZB.DE returned -2.54%/yr vs -1.22%/yr for SPFE.DE. Their correlation of 0.80 suggests significant overlap in exposure. DBZB.DE charges 0.25%/yr vs 0.10%/yr for SPFE.DE.
Performance
DBZB.DE vs. SPFE.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 SPFE.DE's -0.14% 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%
SPFE.DE
- 1D
- 0.23%
- 1M
- 0.22%
- YTD
- -0.14%
- 6M
- -0.29%
- 1Y
- 1.30%
- 3Y*
- 2.19%
- 5Y*
- -1.22%
- 10Y*
- —
DBZB.DE vs. SPFE.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% |
SPFE.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged | -0.14% | 2.59% | 1.43% | 4.36% | -13.18% | -2.30% | 3.75% | 5.90% | 0.18% |
Correlation
The correlation between DBZB.DE and SPFE.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.80 |
The correlation between DBZB.DE and SPFE.DE shifts across timeframes, from 0.74 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBZB.DE vs. SPFE.DE — Risk / Return Rank
DBZB.DE
SPFE.DE
DBZB.DE vs. SPFE.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 EUR Hedged (SPFE.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 | SPFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.07 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.47 | -0.49 |
| Martin ratioReturn relative to average drawdown | -0.04 | 1.36 | -1.40 |
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 | SPFE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.40 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.27 | -0.20 |
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 | 0.04 | +0.19 |
Drawdowns
DBZB.DE vs. SPFE.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, which is greater than SPFE.DE's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and SPFE.DE.
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Drawdown Indicators
| DBZB.DE | SPFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -17.25% | -4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -2.73% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -3.98% | -1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -16.61% | -2.90% |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | — | — |
Current DrawdownCurrent decline from peak | -16.44% | -8.27% | -8.17% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -6.51% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.95% | +0.31% |
Volatility
DBZB.DE vs. SPFE.DE - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) and SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged (SPFE.DE) have volatilities of 1.48% and 1.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBZB.DE | SPFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.55% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.67% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.23% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 4.55% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 4.06% | +0.68% |
DBZB.DE vs. SPFE.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than SPFE.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. SPFE.DE - Dividend Comparison
DBZB.DE has not paid dividends to shareholders, while SPFE.DE's dividend yield for the trailing twelve months is around 3.12%.
| 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% |
SPFE.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF EUR Hedged | 3.12% | 3.07% | 2.78% | 1.96% | 1.51% | 1.20% | 1.49% | 2.15% | 0.77% |
Frequently Asked Questions
DBZB.DE and SPFE.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFE.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 SPFE.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.25% for DBZB.DE and 0.10% for SPFE.DE.
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