XBO2.DE vs. XEON.DE
XBO2.DE (Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc)) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - XBO2.DE is a Government Bonds fund tracking the FTSE Eurozone BOT Index, while XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 10 years, XBO2.DE returned 0.70%/yr vs 0.72%/yr for XEON.DE. At a 0.13 correlation, their price movements are largely independent. XBO2.DE charges 0.15%/yr vs 0.10%/yr for XEON.DE.
Performance
XBO2.DE vs. XEON.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBO2.DE achieves a 0.62% return, which is significantly lower than XEON.DE's 0.98% return. Both investments have delivered pretty close results over the past 10 years, with XBO2.DE having a 0.70% annualized return and XEON.DE not far ahead at 0.72%.
XBO2.DE
- 1D
- 0.03%
- 1M
- 0.21%
- 6M
- 0.62%
- YTD
- 0.62%
- 1Y
- 1.79%
- 3Y*
- 2.85%
- 5Y*
- 1.71%
- 10Y*
- 0.70%
XEON.DE
- 1D
- 0.00%
- 1M
- 0.17%
- 6M
- 0.97%
- YTD
- 0.98%
- 1Y
- 1.98%
- 3Y*
- 2.96%
- 5Y*
- 1.98%
- 10Y*
- 0.72%
XBO2.DE vs. XEON.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.62% | 2.42% | 3.53% | 3.03% | -0.64% | -0.60% | -0.22% | 0.03% | -0.47% | -0.44% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.98% | 2.25% | 3.78% | 3.30% | -0.04% | -0.58% | -0.57% | -0.49% | -0.47% | -0.52% |
Correlation
The correlation between XBO2.DE and XEON.DE is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2012 | 0.13 |
The correlation between XBO2.DE and XEON.DE shifts across timeframes, from -0.12 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBO2.DE vs. XEON.DE — Risk / Return Rank
XBO2.DE
XEON.DE
XBO2.DE vs. XEON.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 Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.48 | ||
| Sortino ratioReturn per unit of downside risk | -21.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 4.45 | -3.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 69.56 | -67.97 |
| Martin ratioReturn relative to average drawdown | 4.48 | 323.59 | -319.11 |
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Drawdowns
XBO2.DE vs. XEON.DE - Drawdown Comparison
The maximum XBO2.DE drawdown since its inception was -3.92%, which is greater than XEON.DE's maximum drawdown of -3.71%. Use the drawdown chart below to compare losses from any high point for XBO2.DE and XEON.DE.
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Drawdown Indicators
| XBO2.DE | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.92% | -3.71% | -0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -0.03% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -1.12% | -0.08% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -1.34% | -0.66% | -0.68% |
Max Drawdown (10Y)Largest decline over 10 years | -3.77% | -3.21% | -0.56% |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -0.88% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.01% | +0.39% |
Volatility
XBO2.DE vs. XEON.DE - Volatility Comparison
Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) has a higher volatility of 1.10% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 0.05%. This indicates that XBO2.DE's price experiences larger fluctuations and is considered to be riskier than XEON.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 | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.05% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 0.15% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 0.22% | +2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.44% | 0.25% | +1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.60% | 0.39% | +1.21% |
XBO2.DE vs. XEON.DE - Expense Ratio Comparison
XBO2.DE has a 0.15% expense ratio, which is higher than XEON.DE's 0.10% expense ratio. However, 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. XEON.DE - Dividend Comparison
Neither XBO2.DE nor XEON.DE has paid dividends to shareholders.
Frequently Asked Questions
XBO2.DE and XEON.DE have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for XBO2.DE.
XBO2.DE is categorized as Government Bonds, while XEON.DE is Bank Loan. XBO2.DE tracks FTSE Eurozone BOT Index, while XEON.DE tracks Solactive €STR +8.5 Daily Index. Their fees differ too: 0.15% for XBO2.DE and 0.10% for XEON.DE.
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