VGOV.DE vs. XBAT.DE
VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) and XBAT.DE (Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF) are both European Government Bonds funds - VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while XBAT.DE tracks the iBoxx® EUR Sovereigns Eurozone AAA. Both are passively managed. Over the past 5 years, VGOV.DE returned -5.47%/yr vs -2.38%/yr for XBAT.DE. A 0.66 correlation means they provide meaningful diversification when combined. VGOV.DE charges 0.07%/yr vs 0.15%/yr for XBAT.DE.
Performance
VGOV.DE vs. XBAT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGOV.DE achieves a -0.51% return, which is significantly lower than XBAT.DE's -0.07% return.
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
XBAT.DE
- 1D
- 0.03%
- 1M
- -0.05%
- YTD
- -0.07%
- 6M
- 0.03%
- 1Y
- 1.01%
- 3Y*
- 2.22%
- 5Y*
- -2.38%
- 10Y*
- -0.93%
VGOV.DE vs. XBAT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -1.09% | 2.53% |
XBAT.DE Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF | -0.07% | 2.47% | 0.18% | 3.80% | -17.06% | -2.84% | 2.81% | 2.99% | 2.37% | -0.16% |
Correlation
The correlation between VGOV.DE and XBAT.DE is 0.59, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.66 |
The correlation between VGOV.DE and XBAT.DE shifts across timeframes, from 0.59 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGOV.DE vs. XBAT.DE — Risk / Return Rank
VGOV.DE
XBAT.DE
VGOV.DE vs. XBAT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.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.
| VGOV.DE | XBAT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.06 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.35 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.29 | 1.05 | -1.34 |
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
| VGOV.DE | XBAT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 0.31 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | -0.39 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.18 | -0.31 |
Drawdowns
VGOV.DE vs. XBAT.DE - Drawdown Comparison
The maximum VGOV.DE drawdown since its inception was -40.95%, which is greater than XBAT.DE's maximum drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for VGOV.DE and XBAT.DE.
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Drawdown Indicators
| VGOV.DE | XBAT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.95% | -24.48% | -16.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -2.01% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -9.01% | -4.50% | -4.51% |
Max Drawdown (5Y)Largest decline over 5 years | -40.45% | -21.97% | -18.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.48% | — |
Current DrawdownCurrent decline from peak | -30.35% | -16.49% | -13.86% |
Average DrawdownAverage peak-to-trough decline | -16.60% | -6.97% | -9.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.67% | +1.68% |
Volatility
VGOV.DE vs. XBAT.DE - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a higher volatility of 3.34% compared to Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.DE) at 0.75%. This indicates that VGOV.DE's price experiences larger fluctuations and is considered to be riskier than XBAT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGOV.DE | XBAT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 0.75% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 6.15% | 1.93% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 2.23% | +5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 6.06% | +6.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 5.39% | +6.47% |
VGOV.DE vs. XBAT.DE - Expense Ratio Comparison
VGOV.DE has a 0.07% expense ratio, which is lower than XBAT.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
VGOV.DE vs. XBAT.DE - Dividend Comparison
VGOV.DE's dividend yield for the trailing twelve months is around 4.59%, while XBAT.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% |
XBAT.DE Xtrackers iBoxx Sovereigns Eurozone AAA Swap 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
VGOV.DE and XBAT.DE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for XBAT.DE.
VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while XBAT.DE tracks iBoxx® EUR Sovereigns Eurozone AAA. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.07% for VGOV.DE and 0.15% for XBAT.DE.
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