VGEA.DE vs. CBUS.DE
VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) are both European Government Bonds funds - VGEA.DE tracks the Bloomberg Euro Aggregate Treasury while CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). Both are passively managed. Over the past 3 years, VGEA.DE returned 2.38%/yr vs 0.65%/yr for CBUS.DE. A 0.74 correlation means they provide meaningful diversification when combined. VGEA.DE charges 0.07%/yr vs 0.09%/yr for CBUS.DE.
Performance
VGEA.DE vs. CBUS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEA.DE achieves a 0.11% return, which is significantly higher than CBUS.DE's -1.94% return.
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 10Y*
- —
CBUS.DE
- 1D
- 0.20%
- 1M
- 0.46%
- YTD
- -1.94%
- 6M
- -1.87%
- 1Y
- 0.16%
- 3Y*
- 0.65%
- 5Y*
- —
- 10Y*
- —
VGEA.DE vs. CBUS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -1.20% |
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | -1.94% | 3.15% | -5.02% | 2.14% | 5.57% |
Correlation
The correlation between VGEA.DE and CBUS.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.74 |
The correlation between VGEA.DE and CBUS.DE has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.
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Return for Risk
VGEA.DE vs. CBUS.DE — Risk / Return Rank
VGEA.DE
CBUS.DE
VGEA.DE vs. CBUS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) and iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.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.
| VGEA.DE | CBUS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.02 | -0.03 |
| Martin ratioReturn relative to average drawdown | -0.04 | 0.04 | -0.08 |
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
| VGEA.DE | CBUS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.01 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.12 | -0.21 |
Drawdowns
VGEA.DE vs. CBUS.DE - Drawdown Comparison
The maximum VGEA.DE drawdown since its inception was -22.34%, which is greater than CBUS.DE's maximum drawdown of -12.79%. Use the drawdown chart below to compare losses from any high point for VGEA.DE and CBUS.DE.
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Drawdown Indicators
| VGEA.DE | CBUS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -12.79% | -9.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -5.66% | +2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -4.00% | -7.48% | +3.48% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | — | — |
Current DrawdownCurrent decline from peak | -13.91% | -7.94% | -5.97% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -7.22% | -3.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.18% | -0.85% |
Volatility
VGEA.DE vs. CBUS.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) is 1.67%, while iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) has a volatility of 2.39%. This indicates that VGEA.DE experiences smaller price fluctuations and is considered to be less risky than CBUS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEA.DE | CBUS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 2.39% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 4.93% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 6.13% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 8.34% | -1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.86% | 8.34% | -2.48% |
VGEA.DE vs. CBUS.DE - Expense Ratio Comparison
VGEA.DE has a 0.07% expense ratio, which is lower than CBUS.DE's 0.09% 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
VGEA.DE vs. CBUS.DE - Dividend Comparison
VGEA.DE has not paid dividends to shareholders, while CBUS.DE's dividend yield for the trailing twelve months is around 4.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist | 4.52% | 4.23% | 3.74% | 2.40% | 0.13% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGEA.DE and CBUS.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.09% for CBUS.DE.
VGEA.DE tracks Bloomberg Euro Aggregate Treasury, while CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGEA.DE and 0.09% for CBUS.DE.
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