DBZB.DE vs. XBAE.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and XBAE.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged) are both Global Bonds funds from Xtrackers - DBZB.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged) while XBAE.DE tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). Both are passively managed. Over the past 10 years, DBZB.DE returned -0.99%/yr vs -0.46%/yr for XBAE.DE. A 0.73 correlation means they provide meaningful diversification when combined. DBZB.DE charges 0.25%/yr vs 0.10%/yr for XBAE.DE.
Performance
DBZB.DE vs. XBAE.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 XBAE.DE's -0.55% return. Over the past 10 years, DBZB.DE has underperformed XBAE.DE with an annualized return of -0.99%, while XBAE.DE has yielded a comparatively higher -0.46% 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%
XBAE.DE
- 1D
- 0.05%
- 1M
- 0.08%
- YTD
- -0.55%
- 6M
- -0.69%
- 1Y
- 0.93%
- 3Y*
- 1.72%
- 5Y*
- -1.74%
- 10Y*
- -0.46%
DBZB.DE vs. XBAE.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% |
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | -0.55% | 2.65% | 0.52% | 4.36% | -14.60% | -2.16% | 3.70% | 5.33% | -1.57% | 0.56% |
Correlation
The correlation between DBZB.DE and XBAE.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2014 | 0.73 |
The correlation between DBZB.DE and XBAE.DE has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.
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Return for Risk
DBZB.DE vs. XBAE.DE — Risk / Return Rank
DBZB.DE
XBAE.DE
DBZB.DE vs. XBAE.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 Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.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 | XBAE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.05 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.30 | -0.31 |
| Martin ratioReturn relative to average drawdown | -0.04 | 0.83 | -0.88 |
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 | XBAE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.27 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | -0.35 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | -0.10 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.08 | +0.14 |
Drawdowns
DBZB.DE vs. XBAE.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, which is greater than XBAE.DE's maximum drawdown of -19.04%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and XBAE.DE.
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Drawdown Indicators
| DBZB.DE | XBAE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -19.04% | -2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -3.11% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -4.58% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -18.29% | -1.22% |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | -19.04% | -2.84% |
Current DrawdownCurrent decline from peak | -16.44% | -10.88% | -5.56% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -5.91% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.11% | +0.15% |
Volatility
DBZB.DE vs. XBAE.DE - Volatility Comparison
Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) has a higher volatility of 1.48% compared to Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) at 1.32%. This indicates that DBZB.DE's price experiences larger fluctuations and is considered to be riskier than XBAE.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 | XBAE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.32% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.86% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.46% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 5.00% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 4.63% | +0.11% |
DBZB.DE vs. XBAE.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than XBAE.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. XBAE.DE - Dividend Comparison
Neither DBZB.DE nor XBAE.DE has paid dividends to shareholders.
Frequently Asked Questions
DBZB.DE and XBAE.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAE.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 XBAE.DE tracks Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged). Their fees differ too: 0.25% for DBZB.DE and 0.10% for XBAE.DE.
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