XBAE.DE vs. SPFU.DE

Last updated Jul 18, 2026

XBAE.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged) and SPFU.DE (State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)) are both Global Bonds funds - XBAE.DE tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged) while SPFU.DE tracks the Bloomberg Global Aggregate Bond Index (USD Hedged). Both are passively managed. Over the past 5 years, XBAE.DE returned -1.96%/yr vs 1.09%/yr for SPFU.DE. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.

Performance

XBAE.DE vs. SPFU.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) and State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XBAE.DE is traded in EUR, while SPFU.DE is traded in USD. To make them comparable, the SPFU.DE values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, XBAE.DE achieves a -0.62% return, which is significantly lower than SPFU.DE's 3.28% return.

XBAE.DE

• 1D: 0.19%
• 1M: -0.67%
• 6M: -0.86%
• YTD: -0.62%
• 1Y: 1.02%
• 3Y*: 1.64%
• 5Y*: -1.96%
• 10Y*: -0.62%

SPFU.DE

• 1D: 0.17%
• 1M: 0.06%
• 6M: 1.82%
• YTD: 3.28%
• 1Y: 4.46%
• 3Y*: 3.34%
• 5Y*: 1.09%
• 10Y*: —

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

XBAE.DE vs. SPFU.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged	-0.62%	2.65%	0.49%	4.37%	-14.59%	-2.15%	3.70%	5.31%	0.09%
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)	3.28%	-7.07%	9.27%	3.57%	-6.07%	6.92%	-4.09%	10.41%	11.46%

Correlation

The correlation between XBAE.DE and SPFU.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 14, 2018	0.23

Return for Risk

XBAE.DE vs. SPFU.DE — Risk / Return Rank

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

XBAE.DE

XBAE.DE Risk / Return Rank: 14
XBAE.DE Sharpe Ratio Rank: 15
XBAE.DE Sortino Ratio Rank: 13
XBAE.DE Omega Ratio Rank: 13
XBAE.DE Calmar Ratio Rank: 14
XBAE.DE Martin Ratio Rank: 15

SPFU.DE

SPFU.DE Risk / Return Rank: 34
SPFU.DE Sharpe Ratio Rank: 35
SPFU.DE Sortino Ratio Rank: 34
SPFU.DE Omega Ratio Rank: 33
SPFU.DE Calmar Ratio Rank: 35
SPFU.DE Martin Ratio Rank: 33

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.

XBAE.DE vs. SPFU.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) and State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.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.

	XBAE.DE	SPFU.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.28	0.75	-0.47
Sortino ratio: Return per unit of downside risk	0.44	1.10	-0.66
Omega ratio: Gain probability vs. loss probability	1.05	1.14	-0.09
Calmar ratio: Return relative to maximum drawdown	0.33	1.00	-0.68
Martin ratio: Return relative to average drawdown	0.81	2.78	-1.97

XBAE.DE vs. SPFU.DE - Sharpe Ratio Comparison

The current XBAE.DE Sharpe Ratio is 0.28, which is lower than the SPFU.DE Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of XBAE.DE and SPFU.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

XBAE.DE vs. SPFU.DE - Drawdown Comparison

The maximum XBAE.DE drawdown since its inception was -19.06%, which is greater than SPFU.DE's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for XBAE.DE and SPFU.DE.

Drawdown Indicators

	XBAE.DE	SPFU.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.06%	-11.78%	-7.28%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-4.43%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-4.45%	-10.96%	+6.51%
Max Drawdown (5Y) Largest decline over 5 years	-18.29%	-11.67%	-6.62%
Max Drawdown (10Y) Largest decline over 10 years	-19.06%	—	—
Current Drawdown Current decline from peak	-10.96%	-5.73%	-5.23%
Average Drawdown Average peak-to-trough decline	-5.96%	-5.04%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.60%	-0.34%

Volatility

XBAE.DE vs. SPFU.DE - Volatility Comparison

The current volatility for Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) is 0.98%, while State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist) (SPFU.DE) has a volatility of 1.40%. This indicates that XBAE.DE experiences smaller price fluctuations and is considered to be less risky than SPFU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBAE.DE	SPFU.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	1.40%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	4.40%	-1.42%
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	5.99%	-2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.03%	7.82%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	7.53%	-2.89%

XBAE.DE vs. SPFU.DE - Expense Ratio Comparison

Both XBAE.DE and SPFU.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XBAE.DE vs. SPFU.DE - Dividend Comparison

XBAE.DE has not paid dividends to shareholders, while SPFU.DE's dividend yield for the trailing twelve months is around 3.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SPFU.DE State Street SPDR Bloomberg Global Aggregate Bond USD Hdg UCITS ETF (Dist)	3.15%	3.03%	2.73%	2.02%	1.41%	1.22%	1.51%	1.25%	0.89%
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XBAE.DE and SPFU.DE in my portfolio?

XBAE.DE and SPFU.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XBAE.DE or SPFU.DE?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XBAE.DE or SPFU.DE?

XBAE.DE and SPFU.DE have the same expense ratio: 0.10% per year.

What is the main difference between XBAE.DE and SPFU.DE?

XBAE.DE tracks Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged), while SPFU.DE tracks Bloomberg Global Aggregate Bond Index (USD Hedged). They also come from different issuers: Xtrackers and State Street.