XBO2.DE vs. XUTE.DE
XBO2.DE (Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc)) and XUTE.DE (Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist)) are both Government Bonds funds from Xtrackers - XBO2.DE tracks the FTSE Eurozone BOT Index while XUTE.DE tracks the iBoxx USD Treasuries Index (EUR Hedged). Both are passively managed. Over the past 5 years, XBO2.DE returned 1.73%/yr vs -2.70%/yr for XUTE.DE. At a 0.12 correlation, their price movements are largely independent. XBO2.DE charges 0.15%/yr vs 0.10%/yr for XUTE.DE.
Performance
XBO2.DE vs. XUTE.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 XUTE.DE's -1.14% return.
XBO2.DE
- 1D
- -0.58%
- 1M
- 0.15%
- 6M
- 0.86%
- YTD
- 0.65%
- 1Y
- 1.79%
- 3Y*
- 2.81%
- 5Y*
- 1.73%
- 10Y*
- 0.71%
XUTE.DE
- 1D
- 0.15%
- 1M
- -0.35%
- 6M
- -1.25%
- YTD
- -1.14%
- 1Y
- 1.57%
- 3Y*
- 0.91%
- 5Y*
- -2.70%
- 10Y*
- —
XBO2.DE vs. XUTE.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) | 0.65% | 2.42% | 3.53% | 3.03% | -0.64% | -0.60% | -0.22% | 0.03% | -0.47% | -0.44% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | -1.14% | 4.18% | -1.19% | 1.61% | -14.67% | -3.37% | 6.64% | 3.87% | -2.07% | 0.41% |
Correlation
The correlation between XBO2.DE and XUTE.DE is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2016 | 0.12 |
The correlation between XBO2.DE and XUTE.DE shifts across timeframes, from 0.05 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XBO2.DE vs. XUTE.DE — Risk / Return Rank
XBO2.DE
XUTE.DE
XBO2.DE vs. XUTE.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 US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.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 | XUTE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.07 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 0.45 | +1.14 |
| Martin ratioReturn relative to average drawdown | 4.40 | 1.11 | +3.29 |
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Drawdowns
XBO2.DE vs. XUTE.DE - Drawdown Comparison
The maximum XBO2.DE drawdown since its inception was -3.92%, smaller than the maximum XUTE.DE drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for XBO2.DE and XUTE.DE.
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Drawdown Indicators
| XBO2.DE | XUTE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.92% | -23.77% | +19.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -3.49% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -1.12% | -5.77% | +4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -1.31% | -20.57% | +19.26% |
Max Drawdown (10Y)Largest decline over 10 years | -3.77% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -17.02% | +16.44% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -9.87% | +9.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.41% | -1.00% |
Volatility
XBO2.DE vs. XUTE.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 Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.DE) at 0.98%. This indicates that XBO2.DE's price experiences larger fluctuations and is considered to be riskier than XUTE.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 | XUTE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.98% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 2.75% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 3.71% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.53% | 5.71% | -4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.65% | 5.08% | -3.43% |
XBO2.DE vs. XUTE.DE - Expense Ratio Comparison
XBO2.DE has a 0.15% expense ratio, which is higher than XUTE.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. XUTE.DE - Dividend Comparison
XBO2.DE has not paid dividends to shareholders, while XUTE.DE's dividend yield for the trailing twelve months is around 3.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | 3.40% | 3.36% | 3.56% | 2.27% | 2.15% | 3.30% | 1.87% | 1.28% | 0.85% |
Frequently Asked Questions
XBO2.DE and XUTE.DE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUTE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUTE.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for XBO2.DE.
XBO2.DE tracks FTSE Eurozone BOT Index, while XUTE.DE tracks iBoxx USD Treasuries Index (EUR Hedged). Their fees differ too: 0.15% for XBO2.DE and 0.10% for XUTE.DE.
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