XBO2.DE vs. UEEG.DE
XBO2.DE (Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc)) and UEEG.DE (iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc)) are both Government Bonds funds - XBO2.DE tracks the FTSE Eurozone BOT Index while UEEG.DE tracks the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index (EUR Hedged). Both are passively managed. Over the past 5 years, XBO2.DE returned 1.73%/yr vs -0.99%/yr for UEEG.DE. At a 0.19 correlation, their price movements are largely independent. XBO2.DE charges 0.15%/yr vs 0.18%/yr for UEEG.DE.
Performance
XBO2.DE vs. UEEG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBO2.DE achieves a 0.65% return, which is significantly higher than UEEG.DE's -0.84% return.
XBO2.DE
- 1D
- 0.00%
- 1M
- 0.15%
- 6M
- 0.86%
- YTD
- 0.65%
- 1Y
- 1.73%
- 3Y*
- 2.81%
- 5Y*
- 1.73%
- 10Y*
- 0.71%
UEEG.DE
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- -0.63%
- YTD
- -0.84%
- 1Y
- 1.29%
- 3Y*
- 2.07%
- 5Y*
- -0.99%
- 10Y*
- —
XBO2.DE vs. UEEG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.65% | 2.42% | 3.53% | 3.03% | -0.64% | -0.60% | -0.19% |
UEEG.DE iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) | -0.84% | 4.64% | 0.67% | 2.27% | -9.47% | -2.61% | -0.20% |
Correlation
The correlation between XBO2.DE and UEEG.DE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020 | 0.19 |
The correlation between XBO2.DE and UEEG.DE shifts across timeframes, from 0.04 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBO2.DE vs. UEEG.DE — Risk / Return Rank
XBO2.DE
UEEG.DE
XBO2.DE vs. UEEG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) and iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) (UEEG.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.
| XBO2.DE | UEEG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.07 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 0.56 | +0.98 |
| Martin ratioReturn relative to average drawdown | 4.21 | 1.28 | +2.93 |
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Drawdowns
XBO2.DE vs. UEEG.DE - Drawdown Comparison
The maximum XBO2.DE drawdown since its inception was -3.92%, smaller than the maximum UEEG.DE drawdown of -13.77%. Use the drawdown chart below to compare losses from any high point for XBO2.DE and UEEG.DE.
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Drawdown Indicators
| XBO2.DE | UEEG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.92% | -13.77% | +9.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -2.30% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -1.12% | -3.22% | +2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -1.31% | -12.90% | +11.59% |
Max Drawdown (10Y)Largest decline over 10 years | -3.77% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -6.19% | +5.61% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -7.23% | +6.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.01% | -0.60% |
Volatility
XBO2.DE vs. UEEG.DE - Volatility Comparison
Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) has a higher volatility of 1.48% compared to iShares $ Development Bank Bonds UCITS ETF EUR Hedged (Acc) (UEEG.DE) at 1.00%. This indicates that XBO2.DE's price experiences larger fluctuations and is considered to be riskier than UEEG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBO2.DE | UEEG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.00% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 2.78% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 3.62% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.53% | 4.30% | -2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.64% | 4.03% | -2.39% |
XBO2.DE vs. UEEG.DE - Expense Ratio Comparison
XBO2.DE has a 0.15% expense ratio, which is lower than UEEG.DE's 0.18% 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
XBO2.DE vs. UEEG.DE - Dividend Comparison
Neither XBO2.DE nor UEEG.DE has paid dividends to shareholders.
Frequently Asked Questions
XBO2.DE and UEEG.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBO2.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBO2.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for UEEG.DE.
XBO2.DE tracks FTSE Eurozone BOT Index, while UEEG.DE tracks FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index (EUR Hedged). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.15% for XBO2.DE and 0.18% for UEEG.DE.
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