X03F.DE vs. VGEA.DE
X03F.DE (Xtrackers II Eurozone Government Bond UCITS ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - X03F.DE tracks the iBoxx® EUR Sovereigns Eurozone while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, X03F.DE returned -2.62%/yr vs -2.58%/yr for VGEA.DE. With a 0.98 correlation, they move nearly in lockstep. X03F.DE charges 0.09%/yr vs 0.07%/yr for VGEA.DE.
Performance
X03F.DE vs. VGEA.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 VGEA.DE's -0.33% 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%
VGEA.DE
- 1D
- 0.00%
- 1M
- -1.16%
- 6M
- -0.75%
- YTD
- -0.33%
- 1Y
- 0.08%
- 3Y*
- 2.02%
- 5Y*
- -2.58%
- 10Y*
- —
X03F.DE vs. VGEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
X03F.DE Xtrackers II Eurozone Government Bond UCITS ETF | -0.38% | 0.74% | 1.51% | 6.93% | -18.40% | -3.32% | 4.70% | 5.87% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | -0.33% | 0.67% | 1.54% | 6.93% | -18.29% | -3.31% | 4.79% | 5.96% |
Correlation
The correlation between X03F.DE and VGEA.DE is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.98 |
The correlation between X03F.DE and VGEA.DE has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
X03F.DE vs. VGEA.DE — Risk / Return Rank
X03F.DE
VGEA.DE
X03F.DE vs. VGEA.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 Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.01 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.02 | +0.01 |
| Martin ratioReturn relative to average drawdown | 0.07 | 0.06 | +0.01 |
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Drawdowns
X03F.DE vs. VGEA.DE - Drawdown Comparison
The maximum X03F.DE drawdown since its inception was -22.47%, roughly equal to the maximum VGEA.DE drawdown of -22.35%. Use the drawdown chart below to compare losses from any high point for X03F.DE and VGEA.DE.
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Drawdown Indicators
| X03F.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -22.35% | -0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -3.47% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.97% | -3.92% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.57% | -21.48% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -22.47% | — | — |
Current DrawdownCurrent decline from peak | -14.42% | -14.28% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -10.38% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 1.42% | +0.04% |
Volatility
X03F.DE vs. VGEA.DE - Volatility Comparison
Xtrackers II Eurozone Government Bond UCITS ETF (X03F.DE) has a higher volatility of 1.16% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 1.10%. This indicates that X03F.DE's price experiences larger fluctuations and is considered to be riskier than VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.10% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 3.68% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 4.41% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 6.40% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 5.91% | -0.65% |
X03F.DE vs. VGEA.DE - Expense Ratio Comparison
X03F.DE has a 0.09% expense ratio, which is higher than VGEA.DE's 0.07% expense ratio. However, 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. VGEA.DE - Dividend Comparison
X03F.DE's dividend yield for the trailing twelve months is around 2.31%, while VGEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 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 0.95, X03F.DE and VGEA.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, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.09% for X03F.DE.
X03F.DE tracks iBoxx® EUR Sovereigns Eurozone, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.09% for X03F.DE and 0.07% for VGEA.DE.
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