TGBT.DE vs. EURUSD=X
TGBT.DE (VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF) is European Government Bonds fund tracking the iBoxx® EUR Liquid Sovereigns Diversified 1-10, while EURUSD=X (Euro / U.S. Dollar) is a currency. Over the past 5 years, TGBT.DE returned -1.81%/yr vs -0.00%/yr for EURUSD=X. At a 0.02 correlation, their price movements are largely independent.
Performance
TGBT.DE vs. EURUSD=X - Performance Comparison
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Different Trading Currencies
TGBT.DE is traded in EUR, while EURUSD=X is traded in USD. To make them comparable, the EURUSD=X values have been converted to EUR using the latest available exchange rates.
Returns By Period
TGBT.DE
- 1D
- -0.08%
- 1M
- 0.73%
- YTD
- 0.40%
- 6M
- 1.13%
- 1Y
- 1.37%
- 3Y*
- 2.80%
- 5Y*
- -1.81%
- 10Y*
- —
EURUSD=X
- 1D
- -0.01%
- 1M
- -0.02%
- YTD
- -0.00%
- 6M
- -0.03%
- 1Y
- -0.03%
- 3Y*
- -0.01%
- 5Y*
- -0.00%
- 10Y*
- -0.00%
TGBT.DE vs. EURUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | 0.40% | 2.52% | 1.39% | 7.34% | -18.19% | -2.65% | 3.36% | 5.02% | 0.81% |
EURUSD=X Euro / U.S. Dollar | -0.00% | -0.03% | 0.01% | 0.07% | -0.18% | 0.16% | -0.12% | 0.27% | -0.17% |
Correlation
The correlation between TGBT.DE and EURUSD=X is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2018 | 0.02 |
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Return for Risk
TGBT.DE vs. EURUSD=X — Risk / Return Rank
TGBT.DE
EURUSD=X
TGBT.DE vs. EURUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) and Euro / U.S. Dollar (EURUSD=X). 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.
| TGBT.DE | EURUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.99 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | -0.06 | +0.47 |
| Martin ratioReturn relative to average drawdown | 1.03 | -0.27 | +1.30 |
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Drawdowns
TGBT.DE vs. EURUSD=X - Drawdown Comparison
The maximum TGBT.DE drawdown since its inception was -21.31%, which is greater than EURUSD=X's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for TGBT.DE and EURUSD=X.
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Drawdown Indicators
| TGBT.DE | EURUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.31% | -1.76% | -19.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.35% | -0.43% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -3.43% | -0.81% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -21.10% | -0.81% | -20.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.22% | — |
Current DrawdownCurrent decline from peak | -11.08% | -0.74% | -10.34% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -0.72% | -8.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 0.10% | +1.24% |
Volatility
TGBT.DE vs. EURUSD=X - Volatility Comparison
VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) has a higher volatility of 1.48% compared to Euro / U.S. Dollar (EURUSD=X) at 0.18%. This indicates that TGBT.DE's price experiences larger fluctuations and is considered to be riskier than EURUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGBT.DE | EURUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.18% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 0.58% | +3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.58% | 0.75% | +3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 0.74% | +5.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 1.14% | +4.56% |
Frequently Asked Questions
TGBT.DE and EURUSD=X have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for TGBT.DE and EURUSD=X
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