XCS2.DE vs. DBXG.DE
XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) and DBXG.DE (Xtrackers II Eurozone Government Bond 25+ UCITS ETF (Acc)) are both Government Bonds funds from Xtrackers - XCS2.DE tracks the FTSE Australian Government Bond Index while DBXG.DE tracks the iBoxx EUR Eurozone 25+ Index. Both are passively managed. Over the past 10 years, XCS2.DE returned -0.24%/yr vs -3.98%/yr for DBXG.DE. At a 0.28 correlation, their price movements are largely independent. XCS2.DE charges 0.25%/yr vs 0.15%/yr for DBXG.DE.
Performance
XCS2.DE vs. DBXG.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 DBXG.DE's -1.04% return. Over the past 10 years, XCS2.DE has outperformed DBXG.DE with an annualized return of -0.24%, while DBXG.DE has yielded a comparatively lower -3.98% 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%
DBXG.DE
- 1D
- 0.38%
- 1M
- -3.32%
- 6M
- -2.41%
- YTD
- -1.04%
- 1Y
- -2.98%
- 3Y*
- -3.12%
- 5Y*
- -11.38%
- 10Y*
- -3.98%
XCS2.DE vs. DBXG.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% |
DBXG.DE Xtrackers II Eurozone Government Bond 25+ UCITS ETF (Acc) | -1.04% | -9.41% | -3.96% | 9.47% | -40.42% | -9.69% | 16.29% | 21.12% | 4.90% | -2.36% |
Correlation
The correlation between XCS2.DE and DBXG.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.28 |
Over the past year, XCS2.DE and DBXG.DE have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.
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Return for Risk
XCS2.DE vs. DBXG.DE — Risk / Return Rank
XCS2.DE
DBXG.DE
XCS2.DE vs. DBXG.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 Eurozone Government Bond 25+ UCITS ETF (Acc) (DBXG.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 | DBXG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.97 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | -0.44 | +2.49 |
| Martin ratioReturn relative to average drawdown | 6.71 | -0.83 | +7.54 |
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Drawdowns
XCS2.DE vs. DBXG.DE - Drawdown Comparison
The maximum XCS2.DE drawdown since its inception was -41.58%, smaller than the maximum DBXG.DE drawdown of -53.51%. Use the drawdown chart below to compare losses from any high point for XCS2.DE and DBXG.DE.
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Drawdown Indicators
| XCS2.DE | DBXG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -53.51% | +11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.56% | -6.77% | +2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -12.00% | -17.62% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -22.36% | -51.05% | +28.69% |
Max Drawdown (10Y)Largest decline over 10 years | -41.58% | -53.51% | +11.93% |
Current DrawdownCurrent decline from peak | -32.91% | -49.94% | +17.03% |
Average DrawdownAverage peak-to-trough decline | -25.77% | -16.12% | -9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 3.57% | -2.17% |
Volatility
XCS2.DE vs. DBXG.DE - Volatility Comparison
The current volatility for Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) is 2.72%, while Xtrackers II Eurozone Government Bond 25+ UCITS ETF (Acc) (DBXG.DE) has a volatility of 2.97%. This indicates that XCS2.DE experiences smaller price fluctuations and is considered to be less risky than DBXG.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 | DBXG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 2.97% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 8.37% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 11.10% | -2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.16% | 17.72% | -7.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 15.16% | +5.86% |
XCS2.DE vs. DBXG.DE - Expense Ratio Comparison
XCS2.DE has a 0.25% expense ratio, which is higher than DBXG.DE's 0.15% 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. DBXG.DE - Dividend Comparison
Neither XCS2.DE nor DBXG.DE has paid dividends to shareholders.
Frequently Asked Questions
XCS2.DE and DBXG.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBXG.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBXG.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for XCS2.DE.
XCS2.DE tracks FTSE Australian Government Bond Index, while DBXG.DE tracks iBoxx EUR Eurozone 25+ Index. Their fees differ too: 0.25% for XCS2.DE and 0.15% for DBXG.DE.
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