IS0L.DE vs. VGEB.DE
IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) and VGEB.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) are both European Government Bonds funds - IS0L.DE tracks the Bloomberg Euro Treasury Germany while VGEB.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, IS0L.DE returned -3.06%/yr vs -2.17%/yr for VGEB.DE. Their correlation of 0.88 suggests significant overlap in exposure. IS0L.DE charges 0.20%/yr vs 0.07%/yr for VGEB.DE.
Performance
IS0L.DE vs. VGEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0L.DE achieves a -0.09% return, which is significantly lower than VGEB.DE's 0.13% return.
IS0L.DE
- 1D
- 0.09%
- 1M
- -0.08%
- YTD
- -0.09%
- 6M
- -0.26%
- 1Y
- -1.03%
- 3Y*
- 0.83%
- 5Y*
- -3.06%
- 10Y*
- -1.31%
VGEB.DE
- 1D
- 0.03%
- 1M
- 0.00%
- YTD
- 0.13%
- 6M
- 0.18%
- 1Y
- 0.31%
- 3Y*
- 2.38%
- 5Y*
- -2.17%
- 10Y*
- —
IS0L.DE vs. VGEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | -0.09% | -1.50% | 0.13% | 5.16% | -17.86% | -2.55% | 2.69% | 2.82% | 2.31% | -0.20% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.13% | 0.69% | 1.55% | 6.99% | -18.10% | -3.26% | 4.75% | 7.05% | 1.21% | -0.03% |
Correlation
The correlation between IS0L.DE and VGEB.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.88 |
The correlation between IS0L.DE and VGEB.DE has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
IS0L.DE vs. VGEB.DE — Risk / Return Rank
IS0L.DE
VGEB.DE
IS0L.DE vs. VGEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.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.
| IS0L.DE | VGEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.00 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.03 | -0.46 |
| Martin ratioReturn relative to average drawdown | -1.02 | -0.06 | -0.96 |
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
| IS0L.DE | VGEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.02 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | -0.34 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | -0.03 | 0.00 |
Drawdowns
IS0L.DE vs. VGEB.DE - Drawdown Comparison
The maximum IS0L.DE drawdown since its inception was -23.96%, which is greater than VGEB.DE's maximum drawdown of -22.15%. Use the drawdown chart below to compare losses from any high point for IS0L.DE and VGEB.DE.
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Drawdown Indicators
| IS0L.DE | VGEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.96% | -22.15% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -3.43% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -4.05% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | -21.25% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -23.96% | — | — |
Current DrawdownCurrent decline from peak | -19.49% | -13.65% | -5.84% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -8.83% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.35% | +0.04% |
Volatility
IS0L.DE vs. VGEB.DE - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) is 1.37%, while Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) has a volatility of 1.63%. This indicates that IS0L.DE experiences smaller price fluctuations and is considered to be less risky than VGEB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0L.DE | VGEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.63% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 3.47% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 4.16% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 6.32% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 5.52% | -0.25% |
IS0L.DE vs. VGEB.DE - Expense Ratio Comparison
IS0L.DE has a 0.20% expense ratio, which is higher than VGEB.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
IS0L.DE vs. VGEB.DE - Dividend Comparison
IS0L.DE's dividend yield for the trailing twelve months is around 2.19%, less than VGEB.DE's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | 2.19% | 2.19% | 2.13% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.35% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 2.89% | 2.88% | 2.56% | 1.96% | 0.66% | 0.08% | 0.19% | 0.74% | 0.80% | 0.09% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, IS0L.DE and VGEB.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VGEB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEB.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IS0L.DE.
IS0L.DE tracks Bloomberg Euro Treasury Germany, while VGEB.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IS0L.DE and 0.07% for VGEB.DE.
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