VGEA.DE vs. XGEZ.DE
VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds - VGEA.DE tracks the Bloomberg Euro Aggregate Treasury while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, VGEA.DE returned 2.50%/yr vs 1.15%/yr for XGEZ.DE. With a 0.97 correlation, they move nearly in lockstep. VGEA.DE charges 0.07%/yr vs 0.18%/yr for XGEZ.DE.
Performance
VGEA.DE vs. XGEZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEA.DE achieves a 1.25% return, which is significantly lower than XGEZ.DE's 1.60% return.
VGEA.DE
- 1D
- 0.08%
- 1M
- 0.87%
- YTD
- 1.25%
- 6M
- 1.42%
- 1Y
- 1.29%
- 3Y*
- 2.50%
- 5Y*
- -1.94%
- 10Y*
- —
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
VGEA.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 1.25% | 0.67% | 1.54% | 6.93% | -0.50% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
Correlation
The correlation between VGEA.DE and XGEZ.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.97 |
The correlation between VGEA.DE and XGEZ.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
VGEA.DE vs. XGEZ.DE — Risk / Return Rank
VGEA.DE
XGEZ.DE
VGEA.DE vs. XGEZ.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 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.
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.
| VGEA.DE | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.01 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.06 | +0.32 |
| Martin ratioReturn relative to average drawdown | 0.96 | 0.12 | +0.83 |
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Drawdowns
VGEA.DE vs. XGEZ.DE - Drawdown Comparison
The maximum VGEA.DE drawdown since its inception was -22.35%, 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 VGEA.DE and XGEZ.DE.
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Drawdown Indicators
| VGEA.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.35% | -13.63% | -8.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.47% | -4.70% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -7.88% | +3.96% |
Max Drawdown (5Y)Largest decline over 5 years | -21.48% | — | — |
Current DrawdownCurrent decline from peak | -12.92% | -3.99% | -8.93% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -5.39% | -4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 2.11% | -0.76% |
Volatility
VGEA.DE vs. XGEZ.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) is 1.03%, while Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a volatility of 1.75%. This indicates that VGEA.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
| VGEA.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.75% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.67% | 5.23% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 6.42% | -2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 9.92% | -3.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 9.92% | -4.00% |
VGEA.DE vs. XGEZ.DE - Expense Ratio Comparison
VGEA.DE has a 0.07% 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
VGEA.DE vs. XGEZ.DE - Dividend Comparison
VGEA.DE has not paid dividends to shareholders, while XGEZ.DE's dividend yield for the trailing twelve months is around 2.06%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 1.99% | 2.07% | 1.27% |
Frequently Asked Questions
With a correlation of 0.94, VGEA.DE and XGEZ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.18% for XGEZ.DE.
VGEA.DE tracks Bloomberg Euro Aggregate Treasury, while XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.07% for VGEA.DE and 0.18% for XGEZ.DE.
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