VGOV.DE vs. XGEZ.DE
VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds - VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, VGOV.DE returned 2.47%/yr vs 1.15%/yr for XGEZ.DE. A 0.73 correlation means they provide meaningful diversification when combined. VGOV.DE charges 0.07%/yr vs 0.18%/yr for XGEZ.DE.
Performance
VGOV.DE vs. XGEZ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VGOV.DE having a 1.59% return and XGEZ.DE slightly higher at 1.60%.
VGOV.DE
- 1D
- -0.05%
- 1M
- 2.01%
- YTD
- 1.59%
- 6M
- 2.03%
- 1Y
- 1.68%
- 3Y*
- 2.47%
- 5Y*
- -5.17%
- 10Y*
- -0.07%
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
VGOV.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 1.59% | 0.16% | -0.17% | 5.43% | 2.57% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
Correlation
The correlation between VGOV.DE and XGEZ.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.73 |
The correlation between VGOV.DE and XGEZ.DE has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
VGOV.DE vs. XGEZ.DE — Risk / Return Rank
VGOV.DE
XGEZ.DE
VGOV.DE vs. XGEZ.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 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.
| VGOV.DE | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.01 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 0.06 | +0.26 |
| Martin ratioReturn relative to average drawdown | 0.73 | 0.12 | +0.61 |
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Drawdowns
VGOV.DE vs. XGEZ.DE - Drawdown Comparison
The maximum VGOV.DE drawdown since its inception was -40.96%, 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 VGOV.DE and XGEZ.DE.
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Drawdown Indicators
| VGOV.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.96% | -13.63% | -27.33% |
Max Drawdown (1Y)Largest decline over 1 year | -5.39% | -4.70% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -9.04% | -7.88% | -1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -40.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.96% | — | — |
Current DrawdownCurrent decline from peak | -28.88% | -3.99% | -24.89% |
Average DrawdownAverage peak-to-trough decline | -11.91% | -5.39% | -6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.11% | -0.02% |
Volatility
VGOV.DE vs. XGEZ.DE - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) have volatilities of 1.74% and 1.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGOV.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 1.75% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.16% | 5.23% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.11% | 6.42% | +1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.88% | 9.92% | +2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.04% | 9.92% | +2.12% |
VGOV.DE vs. XGEZ.DE - Expense Ratio Comparison
VGOV.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
VGOV.DE vs. XGEZ.DE - Dividend Comparison
VGOV.DE's dividend yield for the trailing twelve months is around 4.45%, more than XGEZ.DE's 2.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.45% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 1.64% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 1.99% | 2.07% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGOV.DE and XGEZ.DE have a correlation of 0.67, 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 0.18% for XGEZ.DE.
VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, 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 VGOV.DE and 0.18% for XGEZ.DE.
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