X03F.DE vs. DE5A.DE
X03F.DE (Xtrackers II Eurozone Government Bond UCITS ETF) and DE5A.DE (Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR) are both European Government Bonds funds - X03F.DE tracks the iBoxx® EUR Sovereigns Eurozone while DE5A.DE tracks the FTSE Highest-Rated Eurozone Government Bond. Both are passively managed. Over the past 10 years, X03F.DE returned -0.56%/yr vs -1.42%/yr for DE5A.DE. Their correlation of 0.88 suggests significant overlap in exposure. X03F.DE charges 0.09%/yr vs 0.14%/yr for DE5A.DE.
Performance
X03F.DE vs. DE5A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, X03F.DE achieves a -0.38% return, which is significantly lower than DE5A.DE's -0.19% return. Over the past 10 years, X03F.DE has outperformed DE5A.DE with an annualized return of -0.56%, while DE5A.DE has yielded a comparatively lower -1.42% annualized return.
X03F.DE
- 1D
- 0.02%
- 1M
- -1.17%
- 6M
- -0.74%
- YTD
- -0.38%
- 1Y
- 0.10%
- 3Y*
- 2.02%
- 5Y*
- -2.62%
- 10Y*
- -0.56%
DE5A.DE
- 1D
- 0.06%
- 1M
- -1.16%
- 6M
- -0.66%
- YTD
- -0.19%
- 1Y
- -0.47%
- 3Y*
- 0.92%
- 5Y*
- -3.55%
- 10Y*
- -1.42%
X03F.DE vs. DE5A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X03F.DE Xtrackers II Eurozone Government Bond UCITS ETF | -0.38% | 0.74% | 1.51% | 6.93% | -18.40% | -3.32% | 4.70% | 6.75% | 0.83% | -0.13% |
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR | -0.19% | -0.65% | -0.40% | 5.80% | -19.06% | -3.67% | 3.70% | 4.28% | 1.66% | -0.73% |
Correlation
The correlation between X03F.DE and DE5A.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 | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2011 | 0.88 |
The correlation between X03F.DE and DE5A.DE shifts across timeframes, from 0.88 (all time) to 0.98 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
X03F.DE vs. DE5A.DE — Risk / Return Rank
X03F.DE
DE5A.DE
X03F.DE vs. DE5A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) and Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.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.
| X03F.DE | DE5A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.98 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | -0.15 | +0.18 |
| Martin ratioReturn relative to average drawdown | 0.07 | -0.32 | +0.39 |
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Drawdowns
X03F.DE vs. DE5A.DE - Drawdown Comparison
The maximum X03F.DE drawdown since its inception was -22.47%, smaller than the maximum DE5A.DE drawdown of -24.92%. Use the drawdown chart below to compare losses from any high point for X03F.DE and DE5A.DE.
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Drawdown Indicators
| X03F.DE | DE5A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -24.92% | +2.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -3.13% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -4.45% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -21.57% | -22.78% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -22.47% | -24.92% | +2.45% |
Current DrawdownCurrent decline from peak | -14.42% | -19.80% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -7.27% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.46% | 0.00% |
Volatility
X03F.DE vs. DE5A.DE - Volatility Comparison
Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) and Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) have volatilities of 1.16% and 1.19%, 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
| X03F.DE | DE5A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.19% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 3.54% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 4.22% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 6.46% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 5.35% | -0.09% |
X03F.DE vs. DE5A.DE - Expense Ratio Comparison
X03F.DE has a 0.09% expense ratio, which is lower than DE5A.DE's 0.14% 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
X03F.DE vs. DE5A.DE - Dividend Comparison
X03F.DE's dividend yield for the trailing twelve months is around 2.31%, while DE5A.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
X03F.DE Xtrackers II Eurozone Government Bond UCITS ETF | 2.31% | 2.20% | 2.01% | 1.84% | 3.07% | 1.88% | 0.30% | 0.34% | 0.61% | 0.83% | 1.12% | 0.48% |
Frequently Asked Questions
With a correlation of 0.96, X03F.DE and DE5A.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, X03F.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X03F.DE is cheaper with a 0.09% expense ratio, compared with 0.14% for DE5A.DE.
X03F.DE tracks iBoxx® EUR Sovereigns Eurozone, while DE5A.DE tracks FTSE Highest-Rated Eurozone Government Bond. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.09% for X03F.DE and 0.14% for DE5A.DE.
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