GASF.DE vs. XUEE.DE
GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) and XUEE.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index while XUEE.DE tracks the FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). Both are passively managed. Over the past 3 years, GASF.DE returned 5.09%/yr vs 6.75%/yr for XUEE.DE. At a correlation of -0.24, they often move in opposite directions. GASF.DE charges 0.24%/yr vs 0.40%/yr for XUEE.DE.
Performance
GASF.DE vs. XUEE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GASF.DE achieves a 7.95% return, which is significantly higher than XUEE.DE's 1.61% return.
GASF.DE
- 1D
- 0.06%
- 1M
- 1.40%
- 6M
- 6.61%
- YTD
- 7.95%
- 1Y
- 8.98%
- 3Y*
- 5.09%
- 5Y*
- 3.52%
- 10Y*
- —
XUEE.DE
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- 1.68%
- YTD
- 1.61%
- 1Y
- 8.67%
- 3Y*
- 6.75%
- 5Y*
- —
- 10Y*
- —
GASF.DE vs. XUEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.95% | -6.82% | 10.85% | -2.28% | 0.91% | 4.34% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 1.61% | 11.07% | 3.86% | 8.04% | -21.68% | 0.04% |
Correlation
The correlation between GASF.DE and XUEE.DE is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021 | -0.24 |
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Return for Risk
GASF.DE vs. XUEE.DE — Risk / Return Rank
GASF.DE
XUEE.DE
GASF.DE vs. XUEE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) and Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GASF.DE | XUEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.09 | +0.75 |
| Martin ratioReturn relative to average drawdown | 8.54 | 8.41 | +0.12 |
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Drawdowns
GASF.DE vs. XUEE.DE - Drawdown Comparison
The maximum GASF.DE drawdown since its inception was -13.75%, smaller than the maximum XUEE.DE drawdown of -30.69%. Use the drawdown chart below to compare losses from any high point for GASF.DE and XUEE.DE.
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Drawdown Indicators
| GASF.DE | XUEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.75% | -30.69% | +16.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -4.13% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -11.00% | -8.48% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -13.75% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | -2.52% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -14.17% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.03% | +0.09% |
Volatility
GASF.DE vs. XUEE.DE - Volatility Comparison
Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a higher volatility of 1.48% compared to Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) at 1.15%. This indicates that GASF.DE's price experiences larger fluctuations and is considered to be riskier than XUEE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GASF.DE | XUEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.15% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 4.24% | -0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 5.18% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 9.05% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.71% | 9.05% | -1.34% |
GASF.DE vs. XUEE.DE - Expense Ratio Comparison
GASF.DE has a 0.24% expense ratio, which is lower than XUEE.DE's 0.40% expense ratio.
Dividends
GASF.DE vs. XUEE.DE - Dividend Comparison
GASF.DE's dividend yield for the trailing twelve months is around 1.98%, less than XUEE.DE's 5.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.98% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 5.01% | 5.41% | 6.51% | 4.80% | 4.74% | 0.00% | 0.00% |
Frequently Asked Questions
GASF.DE and XUEE.DE have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for XUEE.DE.
GASF.DE tracks FTSE Goldman Sachs China Government Bond Index, while XUEE.DE tracks FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). They also come from different issuers: Goldman Sachs and Xtrackers. Their fees differ too: 0.24% for GASF.DE and 0.40% for XUEE.DE.
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