UEEG.DE vs. XCS2.DE
UEEG.DE (iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc)) and XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) are both Government Bonds funds - UEEG.DE tracks the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index (EUR Hedged) while XCS2.DE tracks the FTSE Australian Government Bond Index. Both are passively managed. Over the past 5 years, UEEG.DE returned -0.91%/yr vs -1.91%/yr for XCS2.DE. At a 0.40 correlation, their price movements are largely independent. UEEG.DE charges 0.18%/yr vs 0.25%/yr for XCS2.DE.
Performance
UEEG.DE vs. XCS2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEEG.DE achieves a -0.63% return, which is significantly lower than XCS2.DE's 8.74% return.
UEEG.DE
- 1D
- 0.00%
- 1M
- 0.21%
- 6M
- -0.42%
- YTD
- -0.63%
- 1Y
- 1.29%
- 3Y*
- 2.37%
- 5Y*
- -0.91%
- 10Y*
- —
XCS2.DE
- 1D
- 0.64%
- 1M
- 0.17%
- 6M
- 8.57%
- YTD
- 8.74%
- 1Y
- 9.20%
- 3Y*
- 2.45%
- 5Y*
- -1.91%
- 10Y*
- -0.09%
UEEG.DE vs. XCS2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UEEG.DE iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) | -0.63% | 4.64% | 0.67% | 2.27% | -9.47% | -2.61% | -0.20% |
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 8.74% | -2.17% | -1.70% | 0.78% | -13.88% | -0.26% | 2.77% |
Correlation
The correlation between UEEG.DE and XCS2.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020 | 0.40 |
The correlation between UEEG.DE and XCS2.DE shifts across timeframes, from 0.25 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UEEG.DE vs. XCS2.DE — Risk / Return Rank
UEEG.DE
XCS2.DE
UEEG.DE vs. XCS2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) (UEEG.DE) and Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.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.
| UEEG.DE | XCS2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.19 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 2.01 | -1.45 |
| Martin ratioReturn relative to average drawdown | 1.38 | 6.68 | -5.30 |
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Drawdowns
UEEG.DE vs. XCS2.DE - Drawdown Comparison
The maximum UEEG.DE drawdown since its inception was -13.77%, smaller than the maximum XCS2.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for UEEG.DE and XCS2.DE.
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Drawdown Indicators
| UEEG.DE | XCS2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.77% | -41.58% | +27.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.30% | -4.56% | +2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.22% | -12.00% | +8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -12.90% | -22.36% | +9.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.58% | — |
Current DrawdownCurrent decline from peak | -5.99% | -32.78% | +26.79% |
Average DrawdownAverage peak-to-trough decline | -7.24% | -25.75% | +18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.37% | -0.43% |
Volatility
UEEG.DE vs. XCS2.DE - Volatility Comparison
The current volatility for iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) (UEEG.DE) is 0.95%, while Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) has a volatility of 2.20%. This indicates that UEEG.DE experiences smaller price fluctuations and is considered to be less risky than XCS2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEEG.DE | XCS2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 2.20% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 7.40% | -4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 8.80% | -5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.29% | 10.13% | -5.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 21.02% | -16.99% |
UEEG.DE vs. XCS2.DE - Expense Ratio Comparison
UEEG.DE has a 0.18% expense ratio, which is lower than XCS2.DE's 0.25% 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
UEEG.DE vs. XCS2.DE - Dividend Comparison
Neither UEEG.DE nor XCS2.DE has paid dividends to shareholders.
Frequently Asked Questions
UEEG.DE and XCS2.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEEG.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEEG.DE is cheaper with a 0.18% expense ratio, compared with 0.25% for XCS2.DE.
UEEG.DE tracks FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index (EUR Hedged), while XCS2.DE tracks FTSE Australian Government Bond Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.18% for UEEG.DE and 0.25% for XCS2.DE.
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