PJEU.DE vs. DBXT.DE
PJEU.DE (Invesco Euro Cash 3 Months UCITS ETF Acc) and DBXT.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF (Acc)) are both Money Market funds - PJEU.DE tracks the FTSE Eurozone Government Bill 0-6 Month Capped Index while DBXT.DE tracks the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 10 years, PJEU.DE returned 0.56%/yr vs 0.73%/yr for DBXT.DE. At a 0.16 correlation, their price movements are largely independent. PJEU.DE charges 0.09%/yr vs 0.10%/yr for DBXT.DE.
Performance
PJEU.DE vs. DBXT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PJEU.DE achieves a 0.88% return, which is significantly lower than DBXT.DE's 1.02% return. Over the past 10 years, PJEU.DE has underperformed DBXT.DE with an annualized return of 0.56%, while DBXT.DE has yielded a comparatively higher 0.73% annualized return.
PJEU.DE
- 1D
- -0.01%
- 1M
- 0.14%
- 6M
- 0.79%
- YTD
- 0.88%
- 1Y
- 1.99%
- 3Y*
- 2.87%
- 5Y*
- 1.77%
- 10Y*
- 0.56%
DBXT.DE
- 1D
- 0.02%
- 1M
- 0.19%
- 6M
- 0.99%
- YTD
- 1.02%
- 1Y
- 1.99%
- 3Y*
- 2.99%
- 5Y*
- 1.99%
- 10Y*
- 0.73%
PJEU.DE vs. DBXT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.88% | 2.33% | 3.61% | 2.91% | -0.44% | -0.76% | -0.60% | -0.48% | -0.71% | -0.79% |
DBXT.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF (Acc) | 1.02% | 2.22% | 3.80% | 3.29% | -0.04% | -0.58% | -0.56% | -0.49% | -0.48% | -0.51% |
Correlation
The correlation between PJEU.DE and DBXT.DE is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2008 | 0.16 |
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Return for Risk
PJEU.DE vs. DBXT.DE — Risk / Return Rank
PJEU.DE
DBXT.DE
PJEU.DE vs. DBXT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) and Xtrackers II EUR Overnight Rate Swap UCITS ETF (Acc) (DBXT.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.
| PJEU.DE | DBXT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.30 | ||
| Sortino ratioReturn per unit of downside risk | -23.21 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 5.49 | -4.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 73.33 | -69.63 |
| Martin ratioReturn relative to average drawdown | 10.42 | 349.66 | -339.24 |
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Drawdowns
PJEU.DE vs. DBXT.DE - Drawdown Comparison
The maximum PJEU.DE drawdown since its inception was -4.67%, roughly equal to the maximum DBXT.DE drawdown of -4.63%. Use the drawdown chart below to compare losses from any high point for PJEU.DE and DBXT.DE.
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Drawdown Indicators
| PJEU.DE | DBXT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.67% | -4.63% | -0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -0.54% | -0.03% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -0.12% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -1.04% | -1.59% | +0.55% |
Max Drawdown (10Y)Largest decline over 10 years | -4.17% | -4.14% | -0.03% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -0.90% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.01% | +0.18% |
Volatility
PJEU.DE vs. DBXT.DE - Volatility Comparison
Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) has a higher volatility of 0.24% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF (Acc) (DBXT.DE) at 0.06%. This indicates that PJEU.DE's price experiences larger fluctuations and is considered to be riskier than DBXT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJEU.DE | DBXT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 0.06% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 0.14% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 0.19% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 0.87% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.67% | 1.13% | -0.46% |
PJEU.DE vs. DBXT.DE - Expense Ratio Comparison
PJEU.DE has a 0.09% expense ratio, which is lower than DBXT.DE's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PJEU.DE vs. DBXT.DE - Dividend Comparison
Neither PJEU.DE nor DBXT.DE has paid dividends to shareholders.
Frequently Asked Questions
PJEU.DE and DBXT.DE have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PJEU.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PJEU.DE is cheaper with a 0.09% expense ratio, compared with 0.10% for DBXT.DE.
PJEU.DE tracks FTSE Eurozone Government Bill 0-6 Month Capped Index, while DBXT.DE tracks Solactive €STR +8.5 Daily Index. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.09% for PJEU.DE and 0.10% for DBXT.DE.
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