X03G.DE vs. DE5A.DE
X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) and DE5A.DE (Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR) are both European Government Bonds funds - X03G.DE tracks the iBoxx® EUR Germany while DE5A.DE tracks the FTSE Highest-Rated Eurozone Government Bond. Both are passively managed. Over the past 10 years, X03G.DE returned -1.28%/yr vs -1.18%/yr for DE5A.DE. Their correlation of 0.92 suggests significant overlap in exposure. X03G.DE charges 0.15%/yr vs 0.14%/yr for DE5A.DE.
Performance
X03G.DE vs. DE5A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, X03G.DE achieves a -0.04% return, which is significantly lower than DE5A.DE's 0.27% return. Over the past 10 years, X03G.DE has underperformed DE5A.DE with an annualized return of -1.28%, while DE5A.DE has yielded a comparatively higher -1.18% annualized return.
X03G.DE
- 1D
- 0.11%
- 1M
- -0.00%
- YTD
- -0.04%
- 6M
- -0.24%
- 1Y
- -0.95%
- 3Y*
- 0.86%
- 5Y*
- -3.03%
- 10Y*
- -1.28%
DE5A.DE
- 1D
- 0.08%
- 1M
- -0.09%
- YTD
- 0.27%
- 6M
- 0.19%
- 1Y
- -0.43%
- 3Y*
- 1.24%
- 5Y*
- -3.17%
- 10Y*
- -1.18%
X03G.DE vs. DE5A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | -0.04% | -1.48% | 0.14% | 5.23% | -17.79% | -2.57% | 2.71% | 2.86% | 2.17% | -1.47% |
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR | 0.27% | -0.65% | -0.40% | 5.80% | -19.06% | -3.67% | 3.70% | 4.28% | 1.66% | -0.73% |
Correlation
The correlation between X03G.DE and DE5A.DE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
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 25, 2011 | 0.92 |
The correlation between X03G.DE and DE5A.DE has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
X03G.DE vs. DE5A.DE — Risk / Return Rank
X03G.DE
DE5A.DE
X03G.DE vs. DE5A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Germany Government Bond UCITS ETF (X03G.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.
| X03G.DE | DE5A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.97 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | -0.26 | -0.21 |
| Martin ratioReturn relative to average drawdown | -0.99 | -0.58 | -0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| X03G.DE | DE5A.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | -0.20 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | -0.49 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | -0.22 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.22 | -0.18 |
Drawdowns
X03G.DE vs. DE5A.DE - Drawdown Comparison
The maximum X03G.DE drawdown since its inception was -23.87%, roughly equal to the maximum DE5A.DE drawdown of -24.92%. Use the drawdown chart below to compare losses from any high point for X03G.DE and DE5A.DE.
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Drawdown Indicators
| X03G.DE | DE5A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.87% | -24.92% | +1.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -3.13% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -4.45% | -0.55% |
Max Drawdown (5Y)Largest decline over 5 years | -21.19% | -22.78% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -23.87% | -24.92% | +1.05% |
Current DrawdownCurrent decline from peak | -19.28% | -19.43% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -7.30% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 1.42% | -0.04% |
Volatility
X03G.DE vs. DE5A.DE - Volatility Comparison
The current volatility for Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) is 1.43%, while Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) has a volatility of 1.71%. This indicates that X03G.DE experiences smaller price fluctuations and is considered to be less risky than DE5A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X03G.DE | DE5A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.71% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 3.44% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 4.19% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.45% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 5.37% | -0.22% |
X03G.DE vs. DE5A.DE - Expense Ratio Comparison
X03G.DE has a 0.15% expense ratio, which is higher than DE5A.DE's 0.14% 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
X03G.DE vs. DE5A.DE - Dividend Comparison
Neither X03G.DE nor DE5A.DE has 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% |
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.33% |
Frequently Asked Questions
With a correlation of 0.97, X03G.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, DE5A.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DE5A.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for X03G.DE.
X03G.DE tracks iBoxx® EUR Germany, while DE5A.DE tracks FTSE Highest-Rated Eurozone Government Bond. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.15% for X03G.DE and 0.14% for DE5A.DE.
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