X03G.DE vs. EXUS.DE

Last updated Jun 5, 2026

X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) and EXUS.DE (Xtrackers MSCI World ex USA UCITS ETF 1C USD) are both exchange-traded funds - X03G.DE is a European Government Bonds fund tracking the iBoxx® EUR Germany, while EXUS.DE is a Global Equities fund tracking the MSCI World ex USA index. Both are passively managed. Over the past year, X03G.DE returned -0.95% vs 20.06% for EXUS.DE. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

X03G.DE vs. EXUS.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) and Xtrackers MSCI World ex USA UCITS ETF 1C USD (EXUS.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, X03G.DE achieves a -0.04% return, which is significantly lower than EXUS.DE's 9.64% 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%

EXUS.DE

• 1D: 0.19%
• 1M: 1.53%
• YTD: 9.64%
• 6M: 11.66%
• 1Y: 20.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

X03G.DE vs. EXUS.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
X03G.DE Xtrackers II Germany Government Bond UCITS ETF	-0.04%	-1.48%	2.67%
EXUS.DE Xtrackers MSCI World ex USA UCITS ETF 1C USD	9.64%	17.80%	5.15%

Correlation

The correlation between X03G.DE and EXUS.DE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.17

The correlation between X03G.DE and EXUS.DE shifts across timeframes, from 0.17 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

X03G.DE vs. EXUS.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

X03G.DE

X03G.DE Risk / Return Rank: 5
X03G.DE Sharpe Ratio Rank: 6
X03G.DE Sortino Ratio Rank: 5
X03G.DE Omega Ratio Rank: 5
X03G.DE Calmar Ratio Rank: 5
X03G.DE Martin Ratio Rank: 4

EXUS.DE

EXUS.DE Risk / Return Rank: 49
EXUS.DE Sharpe Ratio Rank: 47
EXUS.DE Sortino Ratio Rank: 49
EXUS.DE Omega Ratio Rank: 50
EXUS.DE Calmar Ratio Rank: 47
EXUS.DE Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

X03G.DE vs. EXUS.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 Xtrackers MSCI World ex USA UCITS ETF 1C USD (EXUS.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	EXUS.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	1.62	-1.99
Sortino ratio: Return per unit of downside risk	-0.50	2.36	-2.86
Omega ratio: Gain probability vs. loss probability	0.94	1.31	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.47	2.30	-2.78
Martin ratio: Return relative to average drawdown	-0.99	9.01	-10.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

X03G.DE vs. EXUS.DE - Sharpe Ratio Comparison

The current X03G.DE Sharpe Ratio is -0.37, which is lower than the EXUS.DE Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of X03G.DE and EXUS.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	X03G.DE	EXUS.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.37	1.62	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	1.10	-1.06

Drawdowns

X03G.DE vs. EXUS.DE - Drawdown Comparison

The maximum X03G.DE drawdown since its inception was -23.87%, which is greater than EXUS.DE's maximum drawdown of -16.21%. Use the drawdown chart below to compare losses from any high point for X03G.DE and EXUS.DE.

Drawdown Indicators

	X03G.DE	EXUS.DE	Difference
Max Drawdown Largest peak-to-trough decline	-23.87%	-16.21%	-7.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-8.68%	+5.79%
Max Drawdown (3Y) Largest decline over 3 years	-5.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-23.87%	—	—
Current Drawdown Current decline from peak	-19.28%	-0.76%	-18.52%
Average Drawdown Average peak-to-trough decline	-7.77%	-1.78%	-5.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	2.23%	-0.85%

Volatility

X03G.DE vs. EXUS.DE - Volatility Comparison

The current volatility for Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) is 1.43%, while Xtrackers MSCI World ex USA UCITS ETF 1C USD (EXUS.DE) has a volatility of 3.28%. This indicates that X03G.DE experiences smaller price fluctuations and is considered to be less risky than EXUS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	X03G.DE	EXUS.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	3.28%	-1.85%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	10.06%	-7.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	12.37%	-8.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.16%	13.39%	-7.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	13.39%	-8.24%

X03G.DE vs. EXUS.DE - Expense Ratio Comparison

Both X03G.DE and EXUS.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

X03G.DE vs. EXUS.DE - Dividend Comparison

Neither X03G.DE nor EXUS.DE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXUS.DE Xtrackers MSCI World ex USA UCITS ETF 1C USD	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

Can I hold both X03G.DE and EXUS.DE in my portfolio?

X03G.DE and EXUS.DE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, X03G.DE or EXUS.DE?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, X03G.DE or EXUS.DE?

X03G.DE and EXUS.DE have the same expense ratio: 0.15% per year.

What is the main difference between X03G.DE and EXUS.DE?

X03G.DE is categorized as European Government Bonds, while EXUS.DE is Global Equities. X03G.DE tracks iBoxx® EUR Germany, while EXUS.DE tracks MSCI World ex USA index.