IS0L.DE vs. X03B.DE
IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) and X03B.DE (Xtrackers Eurozone Government Bond 1-3 UCITS ETF) are both European Government Bonds funds - IS0L.DE tracks the Bloomberg Euro Treasury Germany while X03B.DE tracks the iBoxx® EUR Eurozone 1-3. Both are passively managed. Over the past 10 years, IS0L.DE returned -1.31%/yr vs 0.23%/yr for X03B.DE. A 0.54 correlation means they provide meaningful diversification when combined. IS0L.DE charges 0.20%/yr vs 0.15%/yr for X03B.DE.
Performance
IS0L.DE vs. X03B.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 X03B.DE's 0.05% return. Over the past 10 years, IS0L.DE has underperformed X03B.DE with an annualized return of -1.31%, while X03B.DE has yielded a comparatively higher 0.23% annualized return.
IS0L.DE
- 1D
- 0.09%
- 1M
- 0.49%
- YTD
- -0.09%
- 6M
- -0.46%
- 1Y
- -1.42%
- 3Y*
- 0.83%
- 5Y*
- -3.06%
- 10Y*
- -1.31%
X03B.DE
- 1D
- 0.04%
- 1M
- 0.27%
- YTD
- 0.05%
- 6M
- 0.17%
- 1Y
- 0.81%
- 3Y*
- 2.63%
- 5Y*
- 0.68%
- 10Y*
- 0.23%
IS0L.DE vs. X03B.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% | -1.63% |
X03B.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.05% | 2.25% | 3.05% | 3.35% | -4.64% | -0.79% | -0.13% | 0.14% | -0.34% | -0.48% |
Correlation
The correlation between IS0L.DE and X03B.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2012 | 0.54 |
Over the past year, IS0L.DE and X03B.DE have become more correlated (0.77) than their long-term average of 0.54, meaning their price movements have been converging.
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Return for Risk
IS0L.DE vs. X03B.DE — Risk / Return Rank
IS0L.DE
X03B.DE
IS0L.DE vs. X03B.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 Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.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 | X03B.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.13 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.63 | -1.11 |
| Martin ratioReturn relative to average drawdown | -1.02 | 2.04 | -3.06 |
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 | X03B.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.62 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | 0.41 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.17 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.57 | -0.60 |
Drawdowns
IS0L.DE vs. X03B.DE - Drawdown Comparison
The maximum IS0L.DE drawdown since its inception was -23.96%, which is greater than X03B.DE's maximum drawdown of -6.78%. Use the drawdown chart below to compare losses from any high point for IS0L.DE and X03B.DE.
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Drawdown Indicators
| IS0L.DE | X03B.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.96% | -6.78% | -17.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -1.28% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -1.28% | -3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | -5.67% | -15.57% |
Max Drawdown (10Y)Largest decline over 10 years | -23.96% | -6.78% | -17.18% |
Current DrawdownCurrent decline from peak | -19.49% | -0.51% | -18.98% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -1.19% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.40% | +0.99% |
Volatility
IS0L.DE vs. X03B.DE - Volatility Comparison
iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) has a higher volatility of 1.37% compared to Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.DE) at 0.50%. This indicates that IS0L.DE's price experiences larger fluctuations and is considered to be riskier than X03B.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 | X03B.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 0.50% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 1.20% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 1.30% | +2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 1.63% | +4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 1.32% | +3.95% |
IS0L.DE vs. X03B.DE - Expense Ratio Comparison
IS0L.DE has a 0.20% expense ratio, which is higher than X03B.DE's 0.15% 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. X03B.DE - Dividend Comparison
IS0L.DE's dividend yield for the trailing twelve months is around 2.19%, more than X03B.DE's 1.53% 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% |
X03B.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 1.53% | 1.39% | 0.98% | 0.28% | 0.12% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.65% | 0.66% |
Frequently Asked Questions
IS0L.DE and X03B.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, X03B.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X03B.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IS0L.DE.
IS0L.DE tracks Bloomberg Euro Treasury Germany, while X03B.DE tracks iBoxx® EUR Eurozone 1-3. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for IS0L.DE and 0.15% for X03B.DE.
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