VGEB.DE vs. XY4P.DE
VGEB.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) and XY4P.DE (Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF) are both European Government Bonds funds - VGEB.DE tracks the Bloomberg Euro Aggregate Treasury while XY4P.DE tracks the iBoxx® EUR Sovereigns Eurozone Yield Plus. Both are passively managed. Over the past 5 years, VGEB.DE returned -2.17%/yr vs -1.34%/yr for XY4P.DE. Their correlation of 0.92 suggests significant overlap in exposure. VGEB.DE charges 0.07%/yr vs 0.15%/yr for XY4P.DE.
Performance
VGEB.DE vs. XY4P.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEB.DE achieves a 0.13% return, which is significantly higher than XY4P.DE's -0.03% return.
VGEB.DE
- 1D
- 0.03%
- 1M
- 0.64%
- YTD
- 0.13%
- 6M
- 0.07%
- 1Y
- -0.09%
- 3Y*
- 2.38%
- 5Y*
- -2.17%
- 10Y*
- —
XY4P.DE
- 1D
- 0.06%
- 1M
- 0.56%
- YTD
- -0.03%
- 6M
- -0.02%
- 1Y
- 0.27%
- 3Y*
- 3.35%
- 5Y*
- -1.34%
- 10Y*
- 0.56%
VGEB.DE vs. XY4P.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.13% | 0.69% | 1.55% | 6.99% | -18.10% | -3.26% | 4.75% | 7.05% | 1.21% | -0.03% |
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | -0.03% | 1.69% | 3.52% | 8.01% | -17.35% | -2.95% | 5.93% | 9.55% | -0.61% | 0.01% |
Correlation
The correlation between VGEB.DE and XY4P.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.92 |
The correlation between VGEB.DE and XY4P.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
VGEB.DE vs. XY4P.DE — Risk / Return Rank
VGEB.DE
XY4P.DE
VGEB.DE vs. XY4P.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) and Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.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.
| VGEB.DE | XY4P.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.07 | -0.09 |
| Martin ratioReturn relative to average drawdown | -0.06 | 0.19 | -0.26 |
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
| VGEB.DE | XY4P.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 0.06 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | -0.20 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.40 | -0.43 |
Drawdowns
VGEB.DE vs. XY4P.DE - Drawdown Comparison
The maximum VGEB.DE drawdown since its inception was -22.15%, which is greater than XY4P.DE's maximum drawdown of -20.52%. Use the drawdown chart below to compare losses from any high point for VGEB.DE and XY4P.DE.
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Drawdown Indicators
| VGEB.DE | XY4P.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.15% | -20.52% | -1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -3.95% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -4.07% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -20.11% | -1.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.52% | — |
Current DrawdownCurrent decline from peak | -13.65% | -9.19% | -4.46% |
Average DrawdownAverage peak-to-trough decline | -8.83% | -5.49% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 1.43% | -0.08% |
Volatility
VGEB.DE vs. XY4P.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) is 1.63%, while Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.DE) has a volatility of 1.77%. This indicates that VGEB.DE experiences smaller price fluctuations and is considered to be less risky than XY4P.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEB.DE | XY4P.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 1.77% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | 3.88% | -0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.57% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 6.49% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 6.49% | -0.97% |
VGEB.DE vs. XY4P.DE - Expense Ratio Comparison
VGEB.DE has a 0.07% expense ratio, which is lower than XY4P.DE's 0.15% 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
VGEB.DE vs. XY4P.DE - Dividend Comparison
VGEB.DE's dividend yield for the trailing twelve months is around 2.89%, while XY4P.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 2.89% | 2.88% | 2.56% | 1.96% | 0.66% | 0.08% | 0.19% | 0.74% | 0.80% | 0.09% |
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, VGEB.DE and XY4P.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, VGEB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEB.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for XY4P.DE.
VGEB.DE tracks Bloomberg Euro Aggregate Treasury, while XY4P.DE tracks iBoxx® EUR Sovereigns Eurozone Yield Plus. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.07% for VGEB.DE and 0.15% for XY4P.DE.
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