XBAT.DE vs. XZEB.DE
XBAT.DE (Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds from Xtrackers - XBAT.DE tracks the iBoxx® EUR Sovereigns Eurozone AAA while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, XBAT.DE returned 2.22%/yr vs 1.37%/yr for XZEB.DE. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
XBAT.DE vs. XZEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBAT.DE achieves a -0.07% return, which is significantly lower than XZEB.DE's 0.20% return.
XBAT.DE
- 1D
- 0.03%
- 1M
- -0.05%
- YTD
- -0.07%
- 6M
- 0.03%
- 1Y
- 1.01%
- 3Y*
- 2.22%
- 5Y*
- -2.38%
- 10Y*
- -0.93%
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
XBAT.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XBAT.DE Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF | -0.07% | 2.47% | 0.18% | 3.80% | -6.45% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between XBAT.DE and XZEB.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.94 |
The correlation between XBAT.DE and XZEB.DE has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.
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Return for Risk
XBAT.DE vs. XZEB.DE — Risk / Return Rank
XBAT.DE
XZEB.DE
XBAT.DE vs. XZEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.DE) and Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.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.
| XBAT.DE | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.97 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | -0.24 | +0.59 |
| Martin ratioReturn relative to average drawdown | 1.05 | -0.53 | +1.59 |
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
| XBAT.DE | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | -0.17 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.39 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | -0.11 | +0.29 |
Drawdowns
XBAT.DE vs. XZEB.DE - Drawdown Comparison
The maximum XBAT.DE drawdown since its inception was -24.48%, which is greater than XZEB.DE's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for XBAT.DE and XZEB.DE.
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Drawdown Indicators
| XBAT.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.48% | -13.98% | -10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.01% | -2.97% | +0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -4.50% | -4.45% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.48% | — | — |
Current DrawdownCurrent decline from peak | -16.49% | -7.28% | -9.21% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -8.40% | +1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 1.33% | -0.66% |
Volatility
XBAT.DE vs. XZEB.DE - Volatility Comparison
The current volatility for Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.DE) is 0.75%, while Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) has a volatility of 1.57%. This indicates that XBAT.DE experiences smaller price fluctuations and is considered to be less risky than XZEB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAT.DE | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.57% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | 3.45% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.23% | 4.14% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 6.32% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.39% | 6.32% | -0.93% |
XBAT.DE vs. XZEB.DE - Expense Ratio Comparison
Both XBAT.DE and XZEB.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
XBAT.DE vs. XZEB.DE - Dividend Comparison
Neither XBAT.DE nor XZEB.DE has paid dividends to shareholders.
Frequently Asked Questions
XBAT.DE and XZEB.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XBAT.DE and XZEB.DE have the same expense ratio: 0.15% per year.
XBAT.DE tracks iBoxx® EUR Sovereigns Eurozone AAA, while XZEB.DE tracks FTSE ESG Select EMU Government Bond.
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