X03B.DE vs. XGEZ.DE
X03B.DE (Xtrackers Eurozone Government Bond 1-3 UCITS ETF) and XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) are both European Government Bonds funds from Xtrackers - X03B.DE tracks the iBoxx® EUR Eurozone 1-3 while XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Both are passively managed. Over the past 3 years, X03B.DE returned 2.80%/yr vs 1.15%/yr for XGEZ.DE. A 0.79 correlation means they provide meaningful diversification when combined. X03B.DE charges 0.15%/yr vs 0.18%/yr for XGEZ.DE.
Performance
X03B.DE vs. XGEZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, X03B.DE achieves a 0.40% return, which is significantly lower than XGEZ.DE's 1.60% return.
X03B.DE
- 1D
- 0.05%
- 1M
- 0.33%
- YTD
- 0.40%
- 6M
- 0.51%
- 1Y
- 1.13%
- 3Y*
- 2.80%
- 5Y*
- 0.77%
- 10Y*
- 0.26%
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
X03B.DE vs. XGEZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
X03B.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 0.40% | 2.25% | 3.05% | 3.36% | -0.38% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
Correlation
The correlation between X03B.DE and XGEZ.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.79 |
The correlation between X03B.DE and XGEZ.DE has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
X03B.DE vs. XGEZ.DE — Risk / Return Rank
X03B.DE
XGEZ.DE
X03B.DE vs. XGEZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.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.
| X03B.DE | XGEZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.01 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.06 | +0.82 |
| Martin ratioReturn relative to average drawdown | 2.73 | 0.12 | +2.60 |
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Drawdowns
X03B.DE vs. XGEZ.DE - Drawdown Comparison
The maximum X03B.DE drawdown since its inception was -6.78%, smaller than the maximum XGEZ.DE drawdown of -13.63%. Use the drawdown chart below to compare losses from any high point for X03B.DE and XGEZ.DE.
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Drawdown Indicators
| X03B.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.78% | -13.63% | +6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.28% | -4.70% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.28% | -7.88% | +6.60% |
Max Drawdown (5Y)Largest decline over 5 years | -5.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.78% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -3.99% | +3.82% |
Average DrawdownAverage peak-to-trough decline | -1.17% | -5.39% | +4.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 2.11% | -1.70% |
Volatility
X03B.DE vs. XGEZ.DE - Volatility Comparison
The current volatility for Xtrackers Eurozone Government Bond 1-3 UCITS ETF (X03B.DE) is 0.35%, while Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a volatility of 1.75%. This indicates that X03B.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
| X03B.DE | XGEZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 1.75% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.21% | 5.23% | -4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.31% | 6.42% | -5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.63% | 9.92% | -8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.32% | 9.92% | -8.60% |
X03B.DE vs. XGEZ.DE - Expense Ratio Comparison
X03B.DE has a 0.15% 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
X03B.DE vs. XGEZ.DE - Dividend Comparison
X03B.DE's dividend yield for the trailing twelve months is around 1.53%, less than XGEZ.DE's 2.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
X03B.DE Xtrackers Eurozone Government Bond 1-3 UCITS ETF | 1.53% | 1.39% | 0.98% | 0.28% | 0.12% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.65% | 0.66% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
X03B.DE and XGEZ.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, X03B.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X03B.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for XGEZ.DE.
X03B.DE tracks iBoxx® EUR Eurozone 1-3, while XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped. Their fees differ too: 0.15% for X03B.DE and 0.18% for XGEZ.DE.
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