X03G.DE vs. OG35.DE
X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) and OG35.DE (Ossiam Euro Government Bonds 3-5Y Carbon Reduction UCITS ETF) are both European Government Bonds funds - X03G.DE tracks the iBoxx® EUR Germany while OG35.DE tracks the ICE 3-5 Year Euro Government Carbon Reduction. Both are passively managed. Over the past 5 years, X03G.DE returned -3.03%/yr vs -0.34%/yr for OG35.DE. A 0.79 correlation means they provide meaningful diversification when combined. X03G.DE charges 0.15%/yr vs 0.17%/yr for OG35.DE.
Performance
X03G.DE vs. OG35.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 higher than OG35.DE's -0.13% 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%
OG35.DE
- 1D
- 0.05%
- 1M
- -0.04%
- YTD
- -0.13%
- 6M
- -0.06%
- 1Y
- 0.67%
- 3Y*
- 2.79%
- 5Y*
- -0.34%
- 10Y*
- —
X03G.DE vs. OG35.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | -0.04% | -1.48% | 0.14% | 5.23% | -17.79% | -2.57% | 0.82% |
OG35.DE Ossiam Euro Government Bonds 3-5Y Carbon Reduction UCITS ETF | -0.13% | 2.46% | 2.13% | 5.16% | -10.01% | -1.17% | 1.17% |
Correlation
The correlation between X03G.DE and OG35.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020 | 0.79 |
The correlation between X03G.DE and OG35.DE has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
X03G.DE vs. OG35.DE — Risk / Return Rank
X03G.DE
OG35.DE
X03G.DE vs. OG35.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 Ossiam Euro Government Bonds 3-5Y Carbon Reduction UCITS ETF (OG35.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 | OG35.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.03 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 0.17 | -0.64 |
| Martin ratioReturn relative to average drawdown | -0.99 | 0.48 | -1.47 |
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 | OG35.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.37 | 0.15 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.49 | -0.08 | -0.40 |
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 | -0.05 | +0.09 |
Drawdowns
X03G.DE vs. OG35.DE - Drawdown Comparison
The maximum X03G.DE drawdown since its inception was -23.87%, which is greater than OG35.DE's maximum drawdown of -12.21%. Use the drawdown chart below to compare losses from any high point for X03G.DE and OG35.DE.
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Drawdown Indicators
| X03G.DE | OG35.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.87% | -12.21% | -11.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.41% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -2.41% | -2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -21.19% | -11.90% | -9.29% |
Max Drawdown (10Y)Largest decline over 10 years | -23.87% | — | — |
Current DrawdownCurrent decline from peak | -19.28% | -2.66% | -16.62% |
Average DrawdownAverage peak-to-trough decline | -7.77% | -4.99% | -2.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.85% | +0.53% |
Volatility
X03G.DE vs. OG35.DE - Volatility Comparison
Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) has a higher volatility of 1.43% compared to Ossiam Euro Government Bonds 3-5Y Carbon Reduction UCITS ETF (OG35.DE) at 1.08%. This indicates that X03G.DE's price experiences larger fluctuations and is considered to be riskier than OG35.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 | OG35.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.08% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.47% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 2.72% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 3.97% | +2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 3.76% | +1.39% |
X03G.DE vs. OG35.DE - Expense Ratio Comparison
X03G.DE has a 0.15% expense ratio, which is lower than OG35.DE's 0.17% 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. OG35.DE - Dividend Comparison
Neither X03G.DE nor OG35.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OG35.DE Ossiam Euro Government Bonds 3-5Y Carbon Reduction UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
X03G.DE and OG35.DE have a correlation of 0.82, 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 0.17% for OG35.DE.
X03G.DE tracks iBoxx® EUR Germany, while OG35.DE tracks ICE 3-5 Year Euro Government Carbon Reduction. They also come from different issuers: Xtrackers and Natixis. Their fees differ too: 0.15% for X03G.DE and 0.17% for OG35.DE.
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