VGEA.DE vs. EXHB.DE
VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both European Government Bonds funds - VGEA.DE tracks the Bloomberg Euro Aggregate Treasury while EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 5 years, VGEA.DE returned -2.24%/yr vs 0.21%/yr for EXHB.DE. A 0.66 correlation means they provide meaningful diversification when combined. VGEA.DE charges 0.07%/yr vs 0.16%/yr for EXHB.DE.
Performance
VGEA.DE vs. EXHB.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 EXHB.DE's 0.01% 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*
- —
EXHB.DE
- 1D
- 0.06%
- 1M
- 0.01%
- YTD
- 0.01%
- 6M
- 0.02%
- 1Y
- 0.58%
- 3Y*
- 2.11%
- 5Y*
- 0.21%
- 10Y*
- -0.27%
VGEA.DE vs. EXHB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -18.30% | -3.32% | 4.81% | 5.94% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.01% | 1.65% | 2.56% | 2.58% | -5.04% | -0.96% | -0.80% | -0.62% |
Correlation
The correlation between VGEA.DE and EXHB.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.66 |
The correlation between VGEA.DE and EXHB.DE has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.
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Return for Risk
VGEA.DE vs. EXHB.DE — Risk / Return Rank
VGEA.DE
EXHB.DE
VGEA.DE vs. EXHB.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 eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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 | EXHB.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 | 1.00 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.36 | -0.38 |
| Martin ratioReturn relative to average drawdown | -0.04 | 1.07 | -1.10 |
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 | EXHB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.34 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | 0.12 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.16 | -0.26 |
Drawdowns
VGEA.DE vs. EXHB.DE - Drawdown Comparison
The maximum VGEA.DE drawdown since its inception was -22.34%, which is greater than EXHB.DE's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for VGEA.DE and EXHB.DE.
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Drawdown Indicators
| VGEA.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -10.06% | -12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -1.17% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -4.00% | -1.17% | -2.83% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | -6.45% | -15.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -10.06% | — |
Current DrawdownCurrent decline from peak | -13.91% | -2.91% | -11.00% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -2.72% | -7.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.40% | +0.93% |
Volatility
VGEA.DE vs. EXHB.DE - Volatility Comparison
Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) has a higher volatility of 1.67% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.49%. This indicates that VGEA.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 0.49% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 1.12% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 1.25% | +3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 1.72% | +4.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.86% | 1.44% | +4.42% |
VGEA.DE vs. EXHB.DE - Expense Ratio Comparison
VGEA.DE has a 0.07% expense ratio, which is lower than EXHB.DE's 0.16% 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. EXHB.DE - Dividend Comparison
VGEA.DE has not paid dividends to shareholders, while EXHB.DE's dividend yield for the trailing twelve months is around 1.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.87% | 1.50% | 1.42% | 1.49% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGEA.DE and EXHB.DE have a correlation of 0.65, 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 0.16% for EXHB.DE.
VGEA.DE tracks Bloomberg Euro Aggregate Treasury, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGEA.DE and 0.16% for EXHB.DE.
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