X1GD.DE vs. SYB3.DE

Last updated Jul 16, 2026

X1GD.DE (Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist) and SYB3.DE (SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF) are both European Government Bonds funds - X1GD.DE tracks the FTSE Lowest-Rated Eurozone Government Bond Investment Grade while SYB3.DE tracks the Bloomberg Euro 1-3 Year Treasury Bond. Both are passively managed. Over the past 3 years, X1GD.DE returned 3.02%/yr vs 2.74%/yr for SYB3.DE. Their correlation of 0.81 suggests significant overlap in exposure. X1GD.DE charges 0.14%/yr vs 0.15%/yr for SYB3.DE.

Performance

X1GD.DE vs. SYB3.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist (X1GD.DE) and SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, X1GD.DE achieves a -0.11% return, which is significantly lower than SYB3.DE's 0.23% return.

X1GD.DE

• 1D: -0.07%
• 1M: -0.78%
• 6M: -0.63%
• YTD: -0.11%
• 1Y: 1.00%
• 3Y*: 3.02%
• 5Y*: —
• 10Y*: —

SYB3.DE

• 1D: 0.04%
• 1M: -0.04%
• 6M: 0.00%
• YTD: 0.23%
• 1Y: 0.84%
• 3Y*: 2.74%
• 5Y*: 0.62%
• 10Y*: 0.19%

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

X1GD.DE vs. SYB3.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
X1GD.DE Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist	-0.11%	1.19%	2.68%	7.59%	-18.37%	-1.99%
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF	0.23%	2.25%	2.98%	3.24%	-4.93%	-0.42%

Correlation

The correlation between X1GD.DE and SYB3.DE is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.81

The correlation between X1GD.DE and SYB3.DE shifts across timeframes, from 0.66 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

X1GD.DE vs. SYB3.DE — Risk / Return Rank

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

X1GD.DE

X1GD.DE Risk / Return Rank: 12
X1GD.DE Sharpe Ratio Rank: 13
X1GD.DE Sortino Ratio Rank: 11
X1GD.DE Omega Ratio Rank: 11
X1GD.DE Calmar Ratio Rank: 13
X1GD.DE Martin Ratio Rank: 13

SYB3.DE

SYB3.DE Risk / Return Rank: 19
SYB3.DE Sharpe Ratio Rank: 20
SYB3.DE Sortino Ratio Rank: 18
SYB3.DE Omega Ratio Rank: 19
SYB3.DE Calmar Ratio Rank: 19
SYB3.DE Martin Ratio Rank: 20

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.

X1GD.DE vs. SYB3.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist (X1GD.DE) and SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.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.

	X1GD.DE	SYB3.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.21	0.58	-0.37
Sortino ratio: Return per unit of downside risk	0.33	0.87	-0.53
Omega ratio: Gain probability vs. loss probability	1.04	1.11	-0.07
Calmar ratio: Return relative to maximum drawdown	0.27	0.66	-0.38
Martin ratio: Return relative to average drawdown	0.70	1.94	-1.25

X1GD.DE vs. SYB3.DE - Sharpe Ratio Comparison

The current X1GD.DE Sharpe Ratio is 0.21, which is lower than the SYB3.DE Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of X1GD.DE and SYB3.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.

Drawdowns

X1GD.DE vs. SYB3.DE - Drawdown Comparison

The maximum X1GD.DE drawdown since its inception was -21.09%, which is greater than SYB3.DE's maximum drawdown of -7.13%. Use the drawdown chart below to compare losses from any high point for X1GD.DE and SYB3.DE.

Drawdown Indicators

	X1GD.DE	SYB3.DE	Difference
Max Drawdown Largest peak-to-trough decline	-21.09%	-7.13%	-13.96%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-1.28%	-2.37%
Max Drawdown (3Y) Largest decline over 3 years	-4.19%	-1.28%	-2.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-6.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-7.06%	—
Current Drawdown Current decline from peak	-10.86%	-0.40%	-10.46%
Average Drawdown Average peak-to-trough decline	-12.79%	-1.25%	-11.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	0.43%	+1.00%

Volatility

X1GD.DE vs. SYB3.DE - Volatility Comparison

Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist (X1GD.DE) has a higher volatility of 1.23% compared to SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.DE) at 0.40%. This indicates that X1GD.DE's price experiences larger fluctuations and is considered to be riskier than SYB3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	X1GD.DE	SYB3.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	0.40%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	1.30%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	4.65%	1.44%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.62%	1.68%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.62%	1.49%	+5.13%

X1GD.DE vs. SYB3.DE - Expense Ratio Comparison

X1GD.DE has a 0.14% expense ratio, which is lower than SYB3.DE's 0.15% 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

X1GD.DE vs. SYB3.DE - Dividend Comparison

X1GD.DE's dividend yield for the trailing twelve months is around 2.58%, more than SYB3.DE's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF	2.28%	1.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.34%
X1GD.DE Amundi Government Bond Lowest Rated Euro Investment Grade UCITS ETF EUR Dist	2.58%	2.58%	2.32%	2.20%	2.38%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both X1GD.DE and SYB3.DE in my portfolio?

X1GD.DE and SYB3.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, X1GD.DE or SYB3.DE?

On fees, X1GD.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, X1GD.DE or SYB3.DE?

X1GD.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for SYB3.DE.

What is the main difference between X1GD.DE and SYB3.DE?

X1GD.DE tracks FTSE Lowest-Rated Eurozone Government Bond Investment Grade, while SYB3.DE tracks Bloomberg Euro 1-3 Year Treasury Bond. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.14% for X1GD.DE and 0.15% for SYB3.DE.