SYBG.DE vs. XZEB.DE
SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - SYBG.DE tracks the Bloomberg UK Gilt while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, SYBG.DE returned 1.99%/yr vs 1.37%/yr for XZEB.DE. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
SYBG.DE vs. XZEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBG.DE achieves a -0.52% return, which is significantly lower than XZEB.DE's 0.20% return.
SYBG.DE
- 1D
- 0.06%
- 1M
- 0.46%
- YTD
- -0.52%
- 6M
- -0.19%
- 1Y
- -0.66%
- 3Y*
- 1.99%
- 5Y*
- -5.01%
- 10Y*
- -2.10%
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
SYBG.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | -0.52% | 0.15% | 0.09% | 5.36% | -15.70% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between SYBG.DE and XZEB.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.74 |
The correlation between SYBG.DE and XZEB.DE has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
SYBG.DE vs. XZEB.DE — Risk / Return Rank
SYBG.DE
XZEB.DE
SYBG.DE vs. XZEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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.
| SYBG.DE | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.97 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | -0.24 | +0.11 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.53 | +0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SYBG.DE | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | -0.17 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | -0.11 | +0.09 |
Drawdowns
SYBG.DE vs. XZEB.DE - Drawdown Comparison
The maximum SYBG.DE drawdown since its inception was -36.77%, 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 SYBG.DE and XZEB.DE.
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Drawdown Indicators
| SYBG.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.77% | -13.98% | -22.79% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -2.97% | -2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -8.77% | -4.45% | -4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -36.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.77% | — | — |
Current DrawdownCurrent decline from peak | -28.15% | -7.28% | -20.87% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -8.40% | -5.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 1.33% | +1.02% |
Volatility
SYBG.DE vs. XZEB.DE - Volatility Comparison
SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a higher volatility of 3.47% compared to Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) at 1.57%. This indicates that SYBG.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
| SYBG.DE | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 1.57% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 6.13% | 3.45% | +2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.05% | 4.14% | +3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.82% | 6.32% | +5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.14% | 6.32% | +4.82% |
SYBG.DE vs. XZEB.DE - Expense Ratio Comparison
Both SYBG.DE and XZEB.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SYBG.DE vs. XZEB.DE - Dividend Comparison
SYBG.DE's dividend yield for the trailing twelve months is around 3.82%, while XZEB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.82% | 3.64% | 2.67% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.28% | 1.61% | 1.77% | 1.89% |
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
SYBG.DE and XZEB.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SYBG.DE and XZEB.DE have the same expense ratio: 0.15% per year.
SYBG.DE tracks Bloomberg UK Gilt, while XZEB.DE tracks FTSE ESG Select EMU Government Bond. They also come from different issuers: State Street and Xtrackers.
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