MXNUSD=X vs. SDEU.L

Last updated Jun 3, 2026

MXNUSD=X (MXN/USD) is a currency, while SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) is European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Over the past 10 years, MXNUSD=X returned 0.75%/yr vs -0.97%/yr for SDEU.L. At a 0.25 correlation, their price movements are largely independent.

Performance

MXNUSD=X vs. SDEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MXN/USD (MXNUSD=X) and iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MXNUSD=X is traded in USD, while SDEU.L is traded in GBP. To make them comparable, the SDEU.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MXNUSD=X achieves a 4.29% return, which is significantly higher than SDEU.L's -0.96% return. Over the past 10 years, MXNUSD=X has outperformed SDEU.L with an annualized return of 0.75%, while SDEU.L has yielded a comparatively lower -0.97% annualized return.

MXNUSD=X

• 1D: 0.45%
• 1M: 0.92%
• YTD: 4.29%
• 6M: 5.83%
• 1Y: 11.20%
• 3Y*: 0.55%
• 5Y*: 3.14%
• 10Y*: 0.75%

SDEU.L

• 1D: 0.14%
• 1M: -0.30%
• YTD: -0.96%
• 6M: -0.08%
• 1Y: 0.99%
• 3Y*: 3.79%
• 5Y*: -3.67%
• 10Y*: -0.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MXNUSD=X vs. SDEU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXNUSD=X MXN/USD	4.29%	15.65%	-18.53%	14.83%	5.29%	-3.10%	-4.83%	3.73%	0.35%	5.25%
SDEU.L iShares Germany Government Bond UCITS ETF (Dist)	-0.96%	11.73%	-5.40%	8.32%	-22.46%	-9.88%	11.78%	1.74%	-2.72%	11.56%

Correlation

The correlation between MXNUSD=X and SDEU.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 10, 2012	0.25

The correlation between MXNUSD=X and SDEU.L shifts across timeframes, from 0.25 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MXNUSD=X vs. SDEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MXNUSD=X

MXNUSD=X Risk / Return Rank: 85
MXNUSD=X Sharpe Ratio Rank: 89
MXNUSD=X Sortino Ratio Rank: 88
MXNUSD=X Omega Ratio Rank: 85
MXNUSD=X Calmar Ratio Rank: 77
MXNUSD=X Martin Ratio Rank: 85

SDEU.L

SDEU.L Risk / Return Rank: 13
SDEU.L Sharpe Ratio Rank: 13
SDEU.L Sortino Ratio Rank: 12
SDEU.L Omega Ratio Rank: 12
SDEU.L Calmar Ratio Rank: 13
SDEU.L Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MXNUSD=X vs. SDEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MXN/USD (MXNUSD=X) and iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L). 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.

	MXNUSD=X	SDEU.L	Difference
Sharpe ratio Return per unit of total volatility	1.19	0.12	+1.07
Sortino ratio Return per unit of downside risk	1.72	0.24	+1.48
Omega ratio Gain probability vs. loss probability	1.23	1.03	+0.20
Calmar ratio Return relative to maximum drawdown	1.41	0.23	+1.18
Martin ratio Return relative to average drawdown	4.93	0.55	+4.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXNUSD=X vs. SDEU.L - Sharpe Ratio Comparison

The current MXNUSD=X Sharpe Ratio is 1.19, which is higher than the SDEU.L Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of MXNUSD=X and SDEU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MXNUSD=X	SDEU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	0.12	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	-0.36	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	-0.10	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-0.08	-0.10

Drawdowns

MXNUSD=X vs. SDEU.L - Drawdown Comparison

The maximum MXNUSD=X drawdown since its inception was -61.16%, which is greater than SDEU.L's maximum drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for MXNUSD=X and SDEU.L.

Drawdown Indicators

	MXNUSD=X	SDEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-61.16%	-37.02%	-24.14%
Max Drawdown (1Y) Largest decline over 1 year	-5.52%	-5.67%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-21.70%	-10.13%	-11.57%
Max Drawdown (5Y) Largest decline over 5 years	-21.70%	-34.27%	+12.57%
Max Drawdown (10Y) Largest decline over 10 years	-31.20%	-37.02%	+5.82%
Current Drawdown Current decline from peak	-42.89%	-21.30%	-21.59%
Average Drawdown Average peak-to-trough decline	-36.79%	-12.86%	-23.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.42%	-0.84%

Volatility

MXNUSD=X vs. SDEU.L - Volatility Comparison

The current volatility for MXN/USD (MXNUSD=X) is 1.54%, while iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) has a volatility of 2.34%. This indicates that MXNUSD=X experiences smaller price fluctuations and is considered to be less risky than SDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXNUSD=X	SDEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	2.34%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	5.86%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	7.56%	8.03%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.47%	10.12%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.43%	9.32%	+3.11%

Frequently Asked Questions

Can I hold both MXNUSD=X and SDEU.L in my portfolio?

MXNUSD=X and SDEU.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.