XCS2.DE vs. D5BE.DE
XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) and D5BE.DE (Xtrackers II US Treasuries 1-3 UCITS ETF (Dist)) are both Government Bonds funds from Xtrackers - XCS2.DE tracks the FTSE Australian Government Bond Index while D5BE.DE tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 10 years, XCS2.DE returned -0.24%/yr vs 1.33%/yr for D5BE.DE. At a 0.10 correlation, their price movements are largely independent. XCS2.DE charges 0.25%/yr vs 0.06%/yr for D5BE.DE.
Performance
XCS2.DE vs. D5BE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XCS2.DE achieves a 8.53% return, which is significantly higher than D5BE.DE's 3.73% return. Over the past 10 years, XCS2.DE has underperformed D5BE.DE with an annualized return of -0.24%, while D5BE.DE has yielded a comparatively higher 1.33% annualized return.
XCS2.DE
- 1D
- -0.03%
- 1M
- -0.78%
- 6M
- 6.96%
- YTD
- 8.53%
- 1Y
- 9.41%
- 3Y*
- 2.56%
- 5Y*
- -1.97%
- 10Y*
- -0.24%
D5BE.DE
- 1D
- 0.07%
- 1M
- 1.53%
- 6M
- 2.29%
- YTD
- 3.73%
- 1Y
- 4.63%
- 3Y*
- 3.59%
- 5Y*
- 2.60%
- 10Y*
- 1.33%
XCS2.DE vs. D5BE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 8.53% | -2.17% | -1.70% | 0.78% | -13.88% | -0.26% | 4.13% | 9.65% | -0.82% | -2.48% |
D5BE.DE Xtrackers II US Treasuries 1-3 UCITS ETF (Dist) | 3.73% | -6.60% | 10.00% | 0.62% | 2.33% | 7.69% | -6.19% | 6.04% | 6.14% | -11.86% |
Correlation
The correlation between XCS2.DE and D5BE.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 | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.10 |
The correlation between XCS2.DE and D5BE.DE shifts across timeframes, from -0.04 (1 year) to 0.12 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCS2.DE vs. D5BE.DE — Risk / Return Rank
XCS2.DE
D5BE.DE
XCS2.DE vs. D5BE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) and Xtrackers II US Treasuries 1-3 UCITS ETF (Dist) (D5BE.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.
| XCS2.DE | D5BE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.15 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 1.31 | +0.74 |
| Martin ratioReturn relative to average drawdown | 6.71 | 3.26 | +3.45 |
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Drawdowns
XCS2.DE vs. D5BE.DE - Drawdown Comparison
The maximum XCS2.DE drawdown since its inception was -41.58%, which is greater than D5BE.DE's maximum drawdown of -20.28%. Use the drawdown chart below to compare losses from any high point for XCS2.DE and D5BE.DE.
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Drawdown Indicators
| XCS2.DE | D5BE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -20.28% | -21.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.56% | -3.52% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -12.00% | -10.97% | -1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -22.36% | -12.50% | -9.86% |
Max Drawdown (10Y)Largest decline over 10 years | -41.58% | -20.28% | -21.30% |
Current DrawdownCurrent decline from peak | -32.91% | -5.26% | -27.65% |
Average DrawdownAverage peak-to-trough decline | -25.77% | -5.10% | -20.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.41% | -0.01% |
Volatility
XCS2.DE vs. D5BE.DE - Volatility Comparison
Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) has a higher volatility of 2.72% compared to Xtrackers II US Treasuries 1-3 UCITS ETF (Dist) (D5BE.DE) at 1.07%. This indicates that XCS2.DE's price experiences larger fluctuations and is considered to be riskier than D5BE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCS2.DE | D5BE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 1.07% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 3.81% | +3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 5.42% | +3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.16% | 7.16% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 8.94% | +12.08% |
XCS2.DE vs. D5BE.DE - Expense Ratio Comparison
XCS2.DE has a 0.25% expense ratio, which is higher than D5BE.DE's 0.06% 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
XCS2.DE vs. D5BE.DE - Dividend Comparison
XCS2.DE has not paid dividends to shareholders, while D5BE.DE's dividend yield for the trailing twelve months is around 2.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
D5BE.DE Xtrackers II US Treasuries 1-3 UCITS ETF (Dist) | 2.76% | 2.89% | 2.24% | 1.84% | 1.00% | 2.74% | 2.66% | 1.16% | 0.93% | 0.78% |
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCS2.DE and D5BE.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, D5BE.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
D5BE.DE is cheaper with a 0.06% expense ratio, compared with 0.25% for XCS2.DE.
XCS2.DE tracks FTSE Australian Government Bond Index, while D5BE.DE tracks iBoxx USD Treasuries 1-3 Index. Their fees differ too: 0.25% for XCS2.DE and 0.06% for D5BE.DE.
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