PJEU.DE vs. XEOD.DE
PJEU.DE (Invesco Euro Cash 3 Months UCITS ETF Acc) and XEOD.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D) are both Money Market funds - PJEU.DE tracks the FTSE Eurozone Government Bill 0-6 Month Capped Index while XEOD.DE tracks the €STR + 8.5 bps. Both are passively managed. Over the past 10 years, PJEU.DE returned 0.56%/yr vs 0.72%/yr for XEOD.DE. At a 0.22 correlation, their price movements are largely independent. PJEU.DE charges 0.09%/yr vs 0.10%/yr for XEOD.DE.
Performance
PJEU.DE vs. XEOD.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 XEOD.DE's 1.01% return. Over the past 10 years, PJEU.DE has underperformed XEOD.DE with an annualized return of 0.56%, while XEOD.DE has yielded a comparatively higher 0.72% 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%
XEOD.DE
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 0.96%
- YTD
- 1.01%
- 1Y
- 1.96%
- 3Y*
- 2.96%
- 5Y*
- 1.98%
- 10Y*
- 0.72%
PJEU.DE vs. XEOD.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% |
XEOD.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D | 1.01% | 2.22% | 3.75% | 3.32% | -0.03% | -0.58% | -0.58% | -0.49% | -0.49% | -0.54% |
Correlation
The correlation between PJEU.DE and XEOD.DE is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2008 | 0.22 |
The correlation between PJEU.DE and XEOD.DE shifts across timeframes, from 0.09 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PJEU.DE vs. XEOD.DE — Risk / Return Rank
PJEU.DE
XEOD.DE
PJEU.DE vs. XEOD.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 1D (XEOD.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 | XEOD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.17 | ||
| Sortino ratioReturn per unit of downside risk | -10.57 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 2.71 | -1.43 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 38.69 | -34.99 |
| Martin ratioReturn relative to average drawdown | 10.42 | 166.31 | -155.89 |
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Drawdowns
PJEU.DE vs. XEOD.DE - Drawdown Comparison
The maximum PJEU.DE drawdown since its inception was -4.67%, smaller than the maximum XEOD.DE drawdown of -8.62%. Use the drawdown chart below to compare losses from any high point for PJEU.DE and XEOD.DE.
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Drawdown Indicators
| PJEU.DE | XEOD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.67% | -8.62% | +3.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.54% | -0.05% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -0.19% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -1.04% | -0.66% | -0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -4.17% | -3.23% | -0.94% |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -2.23% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.01% | +0.18% |
Volatility
PJEU.DE vs. XEOD.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 1D (XEOD.DE) at 0.05%. This indicates that PJEU.DE's price experiences larger fluctuations and is considered to be riskier than XEOD.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 | XEOD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 0.05% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 0.25% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 0.31% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 0.30% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.67% | 0.25% | +0.42% |
PJEU.DE vs. XEOD.DE - Expense Ratio Comparison
PJEU.DE has a 0.09% expense ratio, which is lower than XEOD.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. XEOD.DE - Dividend Comparison
PJEU.DE has not paid dividends to shareholders, while XEOD.DE's dividend yield for the trailing twelve months is around 1.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEOD.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1D | 1.86% | 2.33% | 3.69% | 2.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.83% | 0.01% |
Frequently Asked Questions
PJEU.DE and XEOD.DE have a correlation of 0.09, 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 XEOD.DE.
PJEU.DE tracks FTSE Eurozone Government Bill 0-6 Month Capped Index, while XEOD.DE tracks €STR + 8.5 bps. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.09% for PJEU.DE and 0.10% for XEOD.DE.
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