XBAE.DE vs. XZEG.DE
XBAE.DE (Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged) and XZEG.DE (Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged) are both Global Bonds funds from Xtrackers - XBAE.DE tracks the Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged) while XZEG.DE tracks the FTSE ESG Select World Government Bond Developed Markets (EUR Hedged). Both are passively managed. Over the past 3 years, XBAE.DE returned 1.91%/yr vs 0.86%/yr for XZEG.DE. Their correlation of 0.84 suggests significant overlap in exposure. XBAE.DE charges 0.10%/yr vs 0.25%/yr for XZEG.DE.
Performance
XBAE.DE vs. XZEG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBAE.DE achieves a 0.24% return, which is significantly higher than XZEG.DE's -0.01% return.
XBAE.DE
- 1D
- 0.10%
- 1M
- 0.82%
- YTD
- 0.24%
- 6M
- 0.33%
- 1Y
- 1.30%
- 3Y*
- 1.91%
- 5Y*
- -1.60%
- 10Y*
- -0.51%
XZEG.DE
- 1D
- 0.00%
- 1M
- 0.86%
- YTD
- -0.01%
- 6M
- 0.17%
- 1Y
- -0.03%
- 3Y*
- 0.86%
- 5Y*
- —
- 10Y*
- —
XBAE.DE vs. XZEG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | 0.24% | 2.65% | 0.49% | 4.37% | -14.59% | -0.74% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | -0.01% | 0.96% | -1.08% | 3.63% | -17.03% | -1.62% |
Correlation
The correlation between XBAE.DE and XZEG.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 | 0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.84 |
The correlation between XBAE.DE and XZEG.DE has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
XBAE.DE vs. XZEG.DE — Risk / Return Rank
XBAE.DE
XZEG.DE
XBAE.DE vs. XZEG.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 Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.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 | XZEG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.00 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | -0.01 | +0.43 |
| Martin ratioReturn relative to average drawdown | 1.10 | -0.02 | +1.13 |
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Drawdowns
XBAE.DE vs. XZEG.DE - Drawdown Comparison
The maximum XBAE.DE drawdown since its inception was -19.06%, smaller than the maximum XZEG.DE drawdown of -21.23%. Use the drawdown chart below to compare losses from any high point for XBAE.DE and XZEG.DE.
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Drawdown Indicators
| XBAE.DE | XZEG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.06% | -21.23% | +2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -3.70% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -4.55% | -4.28% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.29% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.06% | — | — |
Current DrawdownCurrent decline from peak | -10.19% | -15.53% | +5.34% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -15.35% | +9.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 1.44% | -0.26% |
Volatility
XBAE.DE vs. XZEG.DE - Volatility Comparison
The current volatility for Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged (XBAE.DE) is 0.86%, while Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) has a volatility of 0.94%. This indicates that XBAE.DE experiences smaller price fluctuations and is considered to be less risky than XZEG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAE.DE | XZEG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.94% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.99% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 3.63% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 5.78% | -0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.64% | 5.78% | -1.14% |
XBAE.DE vs. XZEG.DE - Expense Ratio Comparison
XBAE.DE has a 0.10% expense ratio, which is lower than XZEG.DE's 0.25% 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
XBAE.DE vs. XZEG.DE - Dividend Comparison
XBAE.DE has not paid dividends to shareholders, while XZEG.DE's dividend yield for the trailing twelve months is around 2.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XBAE.DE Xtrackers II ESG Global Aggregate Bond UCITS ETF 5C EUR hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | 2.51% | 2.40% | 2.55% | 1.67% | 1.10% |
Frequently Asked Questions
XBAE.DE and XZEG.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, XBAE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAE.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XZEG.DE.
XBAE.DE tracks Bloomberg MSCI Global Aggregate Sustainable and SRI Currency Neutral (EUR Hedged), while XZEG.DE tracks FTSE ESG Select World Government Bond Developed Markets (EUR Hedged). Their fees differ too: 0.10% for XBAE.DE and 0.25% for XZEG.DE.
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