X03G.DE vs. EXHB.DE
X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both European Government Bonds funds - X03G.DE tracks the iBoxx® EUR Germany while EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 10 years, X03G.DE returned -1.28%/yr vs -0.27%/yr for EXHB.DE. A 0.66 correlation means they provide meaningful diversification when combined. X03G.DE charges 0.15%/yr vs 0.16%/yr for EXHB.DE.
Performance
X03G.DE vs. EXHB.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 EXHB.DE's 0.01% return. Over the past 10 years, X03G.DE has underperformed EXHB.DE with an annualized return of -1.28%, while EXHB.DE has yielded a comparatively higher -0.27% 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%
EXHB.DE
- 1D
- 0.06%
- 1M
- 0.01%
- YTD
- 0.01%
- 6M
- 0.02%
- 1Y
- 0.58%
- 3Y*
- 2.11%
- 5Y*
- 0.21%
- 10Y*
- -0.27%
X03G.DE vs. EXHB.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% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.01% | 1.65% | 2.56% | 2.58% | -5.04% | -0.96% | -0.80% | -0.87% | -0.54% | -1.07% |
Correlation
The correlation between X03G.DE and EXHB.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2011 | 0.66 |
The correlation between X03G.DE and EXHB.DE shifts across timeframes, from 0.66 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
X03G.DE vs. EXHB.DE — Risk / Return Rank
X03G.DE
EXHB.DE
X03G.DE vs. EXHB.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 iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.07 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 0.36 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.99 | 1.07 | -2.06 |
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 | EXHB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 0.34 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | 0.12 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | -0.19 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.16 | -0.12 |
Drawdowns
X03G.DE vs. EXHB.DE - Drawdown Comparison
The maximum X03G.DE drawdown since its inception was -23.87%, which is greater than EXHB.DE's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for X03G.DE and EXHB.DE.
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Drawdown Indicators
| X03G.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.87% | -10.06% | -13.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -1.17% | -1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -1.17% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -21.19% | -6.45% | -14.74% |
Max Drawdown (10Y)Largest decline over 10 years | -23.87% | -10.06% | -13.81% |
Current DrawdownCurrent decline from peak | -19.28% | -2.91% | -16.37% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -2.72% | -5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.40% | +0.98% |
Volatility
X03G.DE vs. EXHB.DE - Volatility Comparison
Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) has a higher volatility of 1.43% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.49%. This indicates that X03G.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 0.49% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 1.12% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 1.25% | +2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 1.72% | +4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 1.44% | +3.71% |
X03G.DE vs. EXHB.DE - Expense Ratio Comparison
X03G.DE has a 0.15% expense ratio, which is lower than EXHB.DE's 0.16% 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
X03G.DE vs. EXHB.DE - Dividend Comparison
X03G.DE has not paid dividends to shareholders, while EXHB.DE's dividend yield for the trailing twelve months is around 1.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.87% | 1.50% | 1.42% | 1.49% |
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
X03G.DE and EXHB.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, X03G.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
X03G.DE is cheaper with a 0.15% expense ratio, compared with 0.16% for EXHB.DE.
X03G.DE tracks iBoxx® EUR Germany, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.15% for X03G.DE and 0.16% for EXHB.DE.
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