X03F.DE vs. IBCM.DE
X03F.DE (Xtrackers II Eurozone Government Bond UCITS ETF) and IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds - X03F.DE tracks the iBoxx® EUR Sovereigns Eurozone while IBCM.DE tracks the Bloomberg Euro Government Bond 10. Both are passively managed. Over the past 10 years, X03F.DE returned -0.56%/yr vs -0.40%/yr for IBCM.DE. Their correlation of 0.91 suggests significant overlap in exposure. X03F.DE charges 0.09%/yr vs 0.15%/yr for IBCM.DE.
Performance
X03F.DE vs. IBCM.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 IBCM.DE's -0.17% return. Over the past 10 years, X03F.DE has underperformed IBCM.DE with an annualized return of -0.56%, while IBCM.DE has yielded a comparatively higher -0.40% 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%
IBCM.DE
- 1D
- 0.02%
- 1M
- -1.37%
- 6M
- -0.84%
- YTD
- -0.17%
- 1Y
- 0.38%
- 3Y*
- 2.31%
- 5Y*
- -2.68%
- 10Y*
- -0.40%
X03F.DE vs. IBCM.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% |
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -0.17% | 1.53% | 0.84% | 8.74% | -19.91% | -3.09% | 4.08% | 6.64% | 1.32% | 0.88% |
Correlation
The correlation between X03F.DE and IBCM.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2011 | 0.91 |
The correlation between X03F.DE and IBCM.DE has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
X03F.DE vs. IBCM.DE — Risk / Return Rank
X03F.DE
IBCM.DE
X03F.DE vs. IBCM.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 iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.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 | IBCM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.02 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.09 | -0.06 |
| Martin ratioReturn relative to average drawdown | 0.07 | 0.22 | -0.15 |
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Drawdowns
X03F.DE vs. IBCM.DE - Drawdown Comparison
The maximum X03F.DE drawdown since its inception was -22.47%, roughly equal to the maximum IBCM.DE drawdown of -23.25%. Use the drawdown chart below to compare losses from any high point for X03F.DE and IBCM.DE.
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Drawdown Indicators
| X03F.DE | IBCM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -23.25% | +0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -4.09% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -4.52% | +0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -21.57% | -22.90% | +1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -22.47% | -23.25% | +0.78% |
Current DrawdownCurrent decline from peak | -14.42% | -14.09% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -5.23% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.68% | -0.22% |
Volatility
X03F.DE vs. IBCM.DE - Volatility Comparison
The current volatility for Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) is 1.16%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a volatility of 1.30%. This indicates that X03F.DE experiences smaller price fluctuations and is considered to be less risky than IBCM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X03F.DE | IBCM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.30% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 4.26% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 5.06% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 7.40% | -1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 6.03% | -0.77% |
X03F.DE vs. IBCM.DE - Expense Ratio Comparison
X03F.DE has a 0.09% expense ratio, which is lower than IBCM.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
X03F.DE vs. IBCM.DE - Dividend Comparison
X03F.DE's dividend yield for the trailing twelve months is around 2.31%, less than IBCM.DE's 2.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 2.93% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
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 0.92, X03F.DE and IBCM.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 0.15% for IBCM.DE.
X03F.DE tracks iBoxx® EUR Sovereigns Eurozone, while IBCM.DE tracks Bloomberg Euro Government Bond 10. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.09% for X03F.DE and 0.15% for IBCM.DE.
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