X03F.DE vs. SYBG.DE
X03F.DE (Xtrackers II Eurozone Government Bond UCITS ETF) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - X03F.DE tracks the iBoxx® EUR Sovereigns Eurozone while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 10 years, X03F.DE returned -0.56%/yr vs -1.79%/yr for SYBG.DE. At a 0.50 correlation, their price movements are largely independent. X03F.DE charges 0.09%/yr vs 0.15%/yr for SYBG.DE.
Performance
X03F.DE vs. SYBG.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 SYBG.DE's 1.36% return. Over the past 10 years, X03F.DE has outperformed SYBG.DE with an annualized return of -0.56%, while SYBG.DE has yielded a comparatively lower -1.79% 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%
SYBG.DE
- 1D
- -0.12%
- 1M
- 0.65%
- 6M
- -0.01%
- YTD
- 1.36%
- 1Y
- 4.12%
- 3Y*
- 2.55%
- 5Y*
- -5.16%
- 10Y*
- -1.79%
X03F.DE vs. SYBG.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% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.36% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 11.90% | 0.08% | -1.95% |
Correlation
The correlation between X03F.DE and SYBG.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.50 |
The correlation between X03F.DE and SYBG.DE shifts across timeframes, from 0.50 (all time) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
X03F.DE vs. SYBG.DE — Risk / Return Rank
X03F.DE
SYBG.DE
X03F.DE vs. SYBG.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 SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.76 | -0.73 |
| Martin ratioReturn relative to average drawdown | 0.07 | 2.36 | -2.29 |
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Drawdowns
X03F.DE vs. SYBG.DE - Drawdown Comparison
The maximum X03F.DE drawdown since its inception was -22.47%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for X03F.DE and SYBG.DE.
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Drawdown Indicators
| X03F.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -36.66% | +14.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -5.42% | +1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -8.78% | +4.81% |
Max Drawdown (5Y)Largest decline over 5 years | -21.57% | -36.25% | +14.68% |
Max Drawdown (10Y)Largest decline over 10 years | -22.47% | -36.66% | +14.19% |
Current DrawdownCurrent decline from peak | -14.42% | -26.70% | +12.28% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -13.48% | +7.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.75% | -0.29% |
Volatility
X03F.DE vs. SYBG.DE - Volatility Comparison
The current volatility for Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) is 1.16%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 2.23%. This indicates that X03F.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 2.23% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 6.24% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 7.89% | -3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 11.76% | -5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 13.82% | -8.56% |
X03F.DE vs. SYBG.DE - Expense Ratio Comparison
X03F.DE has a 0.09% expense ratio, which is lower than SYBG.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. SYBG.DE - Dividend Comparison
X03F.DE's dividend yield for the trailing twelve months is around 2.31%, less than SYBG.DE's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.75% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
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
X03F.DE and SYBG.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 SYBG.DE.
X03F.DE tracks iBoxx® EUR Sovereigns Eurozone, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.09% for X03F.DE and 0.15% for SYBG.DE.
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