IS0P.DE vs. XZEB.DE
IS0P.DE (iShares Spain Government Bond UCITS ETF Dist) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - IS0P.DE tracks the Bloomberg Spain Treasury Bond while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, IS0P.DE returned 3.21%/yr vs 1.42%/yr for XZEB.DE. With a 0.95 correlation, they move nearly in lockstep. IS0P.DE charges 0.20%/yr vs 0.15%/yr for XZEB.DE.
Performance
IS0P.DE vs. XZEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0P.DE achieves a -0.28% return, which is significantly lower than XZEB.DE's -0.10% return.
IS0P.DE
- 1D
- -0.01%
- 1M
- -0.70%
- 6M
- -0.53%
- YTD
- -0.28%
- 1Y
- 1.28%
- 3Y*
- 3.21%
- 5Y*
- -1.97%
- 10Y*
- 0.26%
XZEB.DE
- 1D
- 0.00%
- 1M
- -0.78%
- 6M
- -0.60%
- YTD
- -0.10%
- 1Y
- -0.01%
- 3Y*
- 1.42%
- 5Y*
- —
- 10Y*
- —
IS0P.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | -0.28% | 1.84% | 2.83% | 6.58% | -3.91% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | -0.10% | -0.59% | 0.01% | 5.77% | -5.43% |
Correlation
The correlation between IS0P.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 | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.95 |
The correlation between IS0P.DE and XZEB.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
IS0P.DE vs. XZEB.DE — Risk / Return Rank
IS0P.DE
XZEB.DE
IS0P.DE vs. XZEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Spain Government Bond UCITS ETF Dist (IS0P.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.
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.
| IS0P.DE | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.00 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | -0.01 | +0.38 |
| Martin ratioReturn relative to average drawdown | 0.95 | -0.01 | +0.97 |
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Drawdowns
IS0P.DE vs. XZEB.DE - Drawdown Comparison
The maximum IS0P.DE drawdown since its inception was -21.93%, 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 IS0P.DE and XZEB.DE.
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Drawdown Indicators
| IS0P.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.93% | -13.98% | -7.95% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -2.97% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -4.45% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -20.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.93% | — | — |
Current DrawdownCurrent decline from peak | -11.78% | -7.55% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -8.27% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.35% | -0.01% |
Volatility
IS0P.DE vs. XZEB.DE - Volatility Comparison
iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) has a higher volatility of 1.16% compared to Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) at 1.10%. This indicates that IS0P.DE's price experiences larger fluctuations and is considered to be riskier 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
| IS0P.DE | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.10% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 3.51% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 4.15% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 6.42% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 6.42% | -0.93% |
IS0P.DE vs. XZEB.DE - Expense Ratio Comparison
IS0P.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
IS0P.DE vs. XZEB.DE - Dividend Comparison
IS0P.DE's dividend yield for the trailing twelve months is around 2.51%, while XZEB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | 2.51% | 2.38% | 1.96% | 1.22% | 0.63% | 0.46% | 0.45% | 0.75% | 1.08% | 1.29% | 1.38% | 1.67% |
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, IS0P.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 IS0P.DE.
IS0P.DE tracks Bloomberg Spain Treasury Bond, 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 IS0P.DE and 0.15% for XZEB.DE.
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