EXHF.DE vs. VGOV.DE
EXHF.DE (iShares Euro Government Bond Capped 1.5-10.5yr UCITS ETF (DE)) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - EXHF.DE tracks the iBoxx® EUR Liquid Sovereigns Capped 1.5-10.5 while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, EXHF.DE returned -1.98%/yr vs -5.47%/yr for VGOV.DE. A 0.62 correlation means they provide meaningful diversification when combined. EXHF.DE charges 0.15%/yr vs 0.07%/yr for VGOV.DE.
Performance
EXHF.DE vs. VGOV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXHF.DE achieves a -0.61% return, which is significantly lower than VGOV.DE's -0.51% return.
EXHF.DE
- 1D
- 0.03%
- 1M
- -0.63%
- YTD
- -0.61%
- 6M
- -0.60%
- 1Y
- 0.03%
- 3Y*
- 2.53%
- 5Y*
- -1.98%
- 10Y*
- -0.22%
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
EXHF.DE vs. VGOV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXHF.DE iShares Euro Government Bond Capped 1.5-10.5yr UCITS ETF (DE) | -0.61% | 1.93% | 1.59% | 7.50% | -17.55% | -2.72% | 3.54% | 5.31% | 0.83% | -0.14% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -1.09% | 2.53% |
Correlation
The correlation between EXHF.DE and VGOV.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.62 |
The correlation between EXHF.DE and VGOV.DE has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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Return for Risk
EXHF.DE vs. VGOV.DE — Risk / Return Rank
EXHF.DE
VGOV.DE
EXHF.DE vs. VGOV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond Capped 1.5-10.5yr UCITS ETF (DE) (EXHF.DE) and Vanguard UK Gilt UCITS ETF Distributing (VGOV.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.
| EXHF.DE | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.13 | +0.02 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.29 | 0.00 |
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
| EXHF.DE | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | -0.08 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | -0.42 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | -0.13 | +0.61 |
Drawdowns
EXHF.DE vs. VGOV.DE - Drawdown Comparison
The maximum EXHF.DE drawdown since its inception was -20.75%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for EXHF.DE and VGOV.DE.
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Drawdown Indicators
| EXHF.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.75% | -40.95% | +20.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -5.37% | +1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -3.59% | -9.01% | +5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -20.48% | -40.45% | +19.97% |
Max Drawdown (10Y)Largest decline over 10 years | -20.75% | — | — |
Current DrawdownCurrent decline from peak | -11.58% | -30.35% | +18.77% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -16.60% | +12.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 2.35% | -1.05% |
Volatility
EXHF.DE vs. VGOV.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond Capped 1.5-10.5yr UCITS ETF (DE) (EXHF.DE) is 1.96%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that EXHF.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXHF.DE | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 3.34% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 3.59% | 6.15% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 7.99% | -3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 12.87% | -6.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 11.86% | -6.82% |
EXHF.DE vs. VGOV.DE - Expense Ratio Comparison
EXHF.DE has a 0.15% expense ratio, which is higher than VGOV.DE's 0.07% 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
EXHF.DE vs. VGOV.DE - Dividend Comparison
EXHF.DE's dividend yield for the trailing twelve months is around 1.61%, less than VGOV.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHF.DE iShares Euro Government Bond Capped 1.5-10.5yr UCITS ETF (DE) | 1.61% | 1.74% | 1.03% | 0.51% | 0.63% | 0.62% | 0.66% | 0.75% | 0.75% | 1.51% | 1.87% | 2.45% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% | 0.00% | 0.00% |
Frequently Asked Questions
EXHF.DE and VGOV.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for EXHF.DE.
EXHF.DE tracks iBoxx® EUR Liquid Sovereigns Capped 1.5-10.5, while VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for EXHF.DE and 0.07% for VGOV.DE.
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