IUSE.L vs. DBXD.DE
IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and DBXD.DE (Xtrackers DAX UCITS ETF 1C) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index, while DBXD.DE is a Europe Equities fund tracking the DAX®. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 9.03%/yr for DBXD.DE. A 0.73 correlation means they provide meaningful diversification when combined. IUSE.L charges 0.20%/yr vs 0.09%/yr for DBXD.DE.
Performance
IUSE.L vs. DBXD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly higher than DBXD.DE's 0.89% return. Over the past 10 years, IUSE.L has outperformed DBXD.DE with an annualized return of 12.04%, while DBXD.DE has yielded a comparatively lower 9.03% annualized return.
IUSE.L
- 1D
- -1.30%
- 1M
- -0.21%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.02%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
DBXD.DE
- 1D
- -0.34%
- 1M
- -0.73%
- 6M
- -2.21%
- YTD
- 0.89%
- 1Y
- 1.76%
- 3Y*
- 14.95%
- 5Y*
- 9.27%
- 10Y*
- 9.03%
IUSE.L vs. DBXD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
DBXD.DE Xtrackers DAX UCITS ETF 1C | 0.89% | 22.65% | 18.18% | 19.60% | -12.74% | 15.26% | 3.11% | 24.69% | -18.52% | 12.12% |
Correlation
The correlation between IUSE.L and DBXD.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.73 |
The correlation between IUSE.L and DBXD.DE shifts across timeframes, from 0.62 (3 years) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IUSE.L vs. DBXD.DE — Risk / Return Rank
IUSE.L
DBXD.DE
IUSE.L vs. DBXD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and Xtrackers DAX UCITS ETF 1C (DBXD.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.
| IUSE.L | DBXD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.03 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 0.12 | +1.86 |
| Martin ratioReturn relative to average drawdown | 7.93 | 0.36 | +7.57 |
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Drawdowns
IUSE.L vs. DBXD.DE - Drawdown Comparison
The maximum IUSE.L drawdown since its inception was -34.75%, smaller than the maximum DBXD.DE drawdown of -54.83%. Use the drawdown chart below to compare losses from any high point for IUSE.L and DBXD.DE.
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Drawdown Indicators
| IUSE.L | DBXD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.75% | -54.83% | +20.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -12.32% | +3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -18.33% | -15.92% | -2.41% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -26.70% | +0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -34.75% | -38.83% | +4.08% |
Current DrawdownCurrent decline from peak | -1.97% | -3.84% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -11.27% | +7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 3.95% | -1.79% |
Volatility
IUSE.L vs. DBXD.DE - Volatility Comparison
The current volatility for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) is 3.05%, while Xtrackers DAX UCITS ETF 1C (DBXD.DE) has a volatility of 4.65%. This indicates that IUSE.L experiences smaller price fluctuations and is considered to be less risky than DBXD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSE.L | DBXD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 4.65% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 13.55% | -4.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 16.28% | -4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.07% | 17.19% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 18.09% | -1.80% |
IUSE.L vs. DBXD.DE - Expense Ratio Comparison
IUSE.L has a 0.20% expense ratio, which is higher than DBXD.DE's 0.09% 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
IUSE.L vs. DBXD.DE - Dividend Comparison
Neither IUSE.L nor DBXD.DE has paid dividends to shareholders.
Frequently Asked Questions
IUSE.L and DBXD.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBXD.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBXD.DE is cheaper with a 0.09% expense ratio, compared with 0.20% for IUSE.L.
IUSE.L is categorized as S&P 500, while DBXD.DE is Europe Equities. IUSE.L tracks S&P 500 EUR Hedged Index, while DBXD.DE tracks DAX®. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for IUSE.L and 0.09% for DBXD.DE.
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