TGBT.DE vs. XGEZ.DE
TGBT.DE (VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds - TGBT.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 1-10 while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, TGBT.DE returned 2.64%/yr vs 1.19%/yr for XGEZ.DE. Their correlation of 0.94 suggests significant overlap in exposure. TGBT.DE charges 0.15%/yr vs 0.18%/yr for XGEZ.DE.
Performance
TGBT.DE vs. XGEZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TGBT.DE achieves a -0.51% return, which is significantly lower than XGEZ.DE's 0.02% return.
TGBT.DE
- 1D
- 0.11%
- 1M
- 0.02%
- YTD
- -0.51%
- 6M
- 0.56%
- 1Y
- 0.78%
- 3Y*
- 2.64%
- 5Y*
- -2.05%
- 10Y*
- —
XGEZ.DE
- 1D
- 0.09%
- 1M
- 0.75%
- YTD
- 0.02%
- 6M
- -0.28%
- 1Y
- -1.58%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
TGBT.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | -0.51% | 2.54% | 1.35% | 7.34% | -0.29% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 0.02% | -2.16% | -0.51% | 8.88% | 0.10% |
Correlation
The correlation between TGBT.DE and XGEZ.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.94 |
The correlation between TGBT.DE and XGEZ.DE shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TGBT.DE vs. XGEZ.DE — Risk / Return Rank
TGBT.DE
XGEZ.DE
TGBT.DE vs. XGEZ.DE - 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 Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.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.
| TGBT.DE | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.96 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.34 | +0.44 |
| Martin ratioReturn relative to average drawdown | 0.29 | -0.72 | +1.00 |
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
| TGBT.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | -0.25 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.17 | -0.26 |
Drawdowns
TGBT.DE vs. XGEZ.DE - Drawdown Comparison
The maximum TGBT.DE drawdown since its inception was -21.36%, which is greater than XGEZ.DE's maximum drawdown of -13.63%. Use the drawdown chart below to compare losses from any high point for TGBT.DE and XGEZ.DE.
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Drawdown Indicators
| TGBT.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.36% | -13.63% | -7.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -4.70% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -7.89% | +4.33% |
Max Drawdown (5Y)Largest decline over 5 years | -21.12% | — | — |
Current DrawdownCurrent decline from peak | -11.91% | -5.48% | -6.43% |
Average DrawdownAverage peak-to-trough decline | -9.23% | -5.39% | -3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 2.20% | -0.94% |
Volatility
TGBT.DE vs. XGEZ.DE - Volatility Comparison
The current volatility for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) is 1.55%, while Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a volatility of 2.47%. This indicates that TGBT.DE experiences smaller price fluctuations and is considered to be less risky than XGEZ.DE 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 | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 2.47% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 5.12% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 6.41% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 9.92% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.67% | 9.92% | -4.25% |
TGBT.DE vs. XGEZ.DE - Expense Ratio Comparison
TGBT.DE has a 0.15% expense ratio, which is lower than XGEZ.DE's 0.18% 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
TGBT.DE vs. XGEZ.DE - Dividend Comparison
TGBT.DE's dividend yield for the trailing twelve months is around 1.95%, less than XGEZ.DE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | 1.95% | 2.17% | 1.13% | 0.57% | 0.60% | 0.77% | 0.75% | 0.35% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.10% | 1.99% | 2.07% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TGBT.DE and XGEZ.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TGBT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TGBT.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for XGEZ.DE.
TGBT.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 1-10, while XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. They also come from different issuers: VanEck and Xtrackers. Their fees differ too: 0.15% for TGBT.DE and 0.18% for XGEZ.DE.
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