IS0L.DE vs. XZEB.DE
IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - IS0L.DE tracks the Bloomberg Euro Treasury Germany while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, IS0L.DE returned 0.83%/yr vs 1.37%/yr for XZEB.DE. With a 0.98 correlation, they move nearly in lockstep. IS0L.DE charges 0.20%/yr vs 0.15%/yr for XZEB.DE.
Performance
IS0L.DE vs. XZEB.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 XZEB.DE's 0.20% 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%
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
IS0L.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | -0.09% | -1.50% | 0.13% | 5.16% | -7.73% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between IS0L.DE and XZEB.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.98 |
The correlation between IS0L.DE and XZEB.DE has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
IS0L.DE vs. XZEB.DE — Risk / Return Rank
IS0L.DE
XZEB.DE
IS0L.DE vs. XZEB.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 II ESG Eurozone Government Bond UCITS ETF (XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.97 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.24 | -0.24 |
| Martin ratioReturn relative to average drawdown | -1.02 | -0.53 | -0.49 |
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 | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | -0.17 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | — | — |
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 | -0.11 | +0.08 |
Drawdowns
IS0L.DE vs. XZEB.DE - Drawdown Comparison
The maximum IS0L.DE drawdown since its inception was -23.96%, which is greater than XZEB.DE's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for IS0L.DE and XZEB.DE.
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Drawdown Indicators
| IS0L.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.96% | -13.98% | -9.98% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.97% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -4.45% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.96% | — | — |
Current DrawdownCurrent decline from peak | -19.49% | -7.28% | -12.21% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -8.40% | +0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.33% | +0.06% |
Volatility
IS0L.DE vs. XZEB.DE - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) is 1.37%, while Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) has a volatility of 1.57%. This indicates that IS0L.DE experiences smaller price fluctuations and is considered to be less risky than XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.57% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 3.45% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 4.14% | -0.60% |
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% | 6.32% | -1.05% |
IS0L.DE vs. XZEB.DE - Expense Ratio Comparison
IS0L.DE has a 0.20% expense ratio, which is higher than XZEB.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. XZEB.DE - Dividend Comparison
IS0L.DE's dividend yield for the trailing twelve months is around 2.19%, while XZEB.DE has not paid dividends to shareholders.
| 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% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IS0L.DE and XZEB.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, XZEB.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XZEB.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IS0L.DE.
IS0L.DE tracks Bloomberg Euro Treasury Germany, while XZEB.DE tracks FTSE ESG Select EMU Government Bond. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for IS0L.DE and 0.15% for XZEB.DE.
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