VAGE.DE vs. DBZB.DE
VAGE.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both Global Bonds funds - VAGE.DE tracks the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged) while DBZB.DE tracks the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 5 years, VAGE.DE returned -1.65%/yr vs -2.54%/yr for DBZB.DE. Their correlation of 0.83 suggests significant overlap in exposure. VAGE.DE charges 0.10%/yr vs 0.25%/yr for DBZB.DE.
Performance
VAGE.DE vs. DBZB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VAGE.DE achieves a -0.58% return, which is significantly higher than DBZB.DE's -0.71% return.
VAGE.DE
- 1D
- 0.10%
- 1M
- -0.07%
- YTD
- -0.58%
- 6M
- -0.52%
- 1Y
- 1.25%
- 3Y*
- 2.06%
- 5Y*
- -1.65%
- 10Y*
- —
DBZB.DE
- 1D
- 0.15%
- 1M
- -0.28%
- YTD
- -0.71%
- 6M
- -0.77%
- 1Y
- -0.07%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
VAGE.DE vs. DBZB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist | -0.58% | 3.25% | 0.73% | 4.48% | -14.75% | -2.80% | 4.86% | 0.33% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 0.24% |
Correlation
The correlation between VAGE.DE and DBZB.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.83 |
The correlation between VAGE.DE and DBZB.DE shifts across timeframes, from 0.76 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VAGE.DE vs. DBZB.DE — Risk / Return Rank
VAGE.DE
DBZB.DE
VAGE.DE vs. DBZB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.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.
| VAGE.DE | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.01 | +0.40 |
| Martin ratioReturn relative to average drawdown | 1.08 | -0.04 | +1.12 |
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
| VAGE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | -0.01 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | -0.47 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.22 | -0.41 |
Drawdowns
VAGE.DE vs. DBZB.DE - Drawdown Comparison
The maximum VAGE.DE drawdown since its inception was -19.43%, smaller than the maximum DBZB.DE drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for VAGE.DE and DBZB.DE.
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Drawdown Indicators
| VAGE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.43% | -21.88% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -3.52% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -5.14% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -19.51% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.88% | — |
Current DrawdownCurrent decline from peak | -10.62% | -16.44% | +5.82% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -5.97% | -2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.26% | -0.14% |
Volatility
VAGE.DE vs. DBZB.DE - Volatility Comparison
Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) have volatilities of 1.42% and 1.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 1.48% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.06% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 3.86% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.69% | 5.37% | -0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.49% | 4.74% | -0.25% |
VAGE.DE vs. DBZB.DE - Expense Ratio Comparison
VAGE.DE has a 0.10% expense ratio, which is lower than DBZB.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
VAGE.DE vs. DBZB.DE - Dividend Comparison
VAGE.DE's dividend yield for the trailing twelve months is around 3.60%, while DBZB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist | 3.60% | 3.51% | 3.13% | 2.39% | 1.47% | 0.87% | 1.20% | 0.60% |
Frequently Asked Questions
VAGE.DE and DBZB.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGE.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for DBZB.DE.
VAGE.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.10% for VAGE.DE and 0.25% for DBZB.DE.
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