XCS2.DE vs. DFOB.DE

Last updated Jul 18, 2026

XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) and DFOB.DE (Amundi Euro Government Bond 25+Y UCITS ETF (Dist)) are both Government Bonds funds - XCS2.DE tracks the FTSE Australian Government Bond Index while DFOB.DE tracks the Bloomberg Euro Treasury 50bn 25+ Year Bond Index. Both are passively managed. Over the past 5 years, XCS2.DE returned -1.97%/yr vs -11.67%/yr for DFOB.DE. At a 0.46 correlation, their price movements are largely independent. XCS2.DE charges 0.25%/yr vs 0.07%/yr for DFOB.DE.

Performance

XCS2.DE vs. DFOB.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) and Amundi Euro Government Bond 25+Y UCITS ETF (Dist) (DFOB.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCS2.DE achieves a 8.53% return, which is significantly higher than DFOB.DE's -0.80% 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%

DFOB.DE

• 1D: 0.44%
• 1M: -3.30%
• 6M: -2.18%
• YTD: -0.80%
• 1Y: -2.63%
• 3Y*: -3.11%
• 5Y*: -11.67%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XCS2.DE vs. DFOB.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc)	8.53%	-2.17%	-1.70%	0.78%	-13.88%	-0.26%	2.12%
DFOB.DE Amundi Euro Government Bond 25+Y UCITS ETF (Dist)	-0.80%	-10.03%	-3.74%	9.37%	-40.96%	-10.62%	3.53%

Correlation

The correlation between XCS2.DE and DFOB.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020	0.46

The correlation between XCS2.DE and DFOB.DE has been stable across timeframes, ranging from 0.46 to 0.50 - a consistent structural relationship.

Return for Risk

XCS2.DE vs. DFOB.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XCS2.DE

XCS2.DE Risk / Return Rank: 44
XCS2.DE Sharpe Ratio Rank: 38
XCS2.DE Sortino Ratio Rank: 38
XCS2.DE Omega Ratio Rank: 36
XCS2.DE Calmar Ratio Rank: 54
XCS2.DE Martin Ratio Rank: 53

DFOB.DE

DFOB.DE Risk / Return Rank: 7
DFOB.DE Sharpe Ratio Rank: 8
DFOB.DE Sortino Ratio Rank: 7
DFOB.DE Omega Ratio Rank: 7
DFOB.DE Calmar Ratio Rank: 6
DFOB.DE Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XCS2.DE vs. DFOB.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 Amundi Euro Government Bond 25+Y UCITS ETF (Dist) (DFOB.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	DFOB.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-0.24	+1.29
Sortino ratio: Return per unit of downside risk	1.57	-0.26	+1.83
Omega ratio: Gain probability vs. loss probability	1.19	0.97	+0.22
Calmar ratio: Return relative to maximum drawdown	2.05	-0.39	+2.45
Martin ratio: Return relative to average drawdown	6.71	-0.75	+7.47

XCS2.DE vs. DFOB.DE - Sharpe Ratio Comparison

The current XCS2.DE Sharpe Ratio is 1.05, which is higher than the DFOB.DE Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of XCS2.DE and DFOB.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XCS2.DE vs. DFOB.DE - Drawdown Comparison

The maximum XCS2.DE drawdown since its inception was -41.58%, smaller than the maximum DFOB.DE drawdown of -54.51%. Use the drawdown chart below to compare losses from any high point for XCS2.DE and DFOB.DE.

Drawdown Indicators

	XCS2.DE	DFOB.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.58%	-54.51%	+12.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.56%	-6.66%	+2.10%
Max Drawdown (3Y) Largest decline over 3 years	-12.00%	-18.08%	+6.08%
Max Drawdown (5Y) Largest decline over 5 years	-22.36%	-51.78%	+29.42%
Max Drawdown (10Y) Largest decline over 10 years	-41.58%	—	—
Current Drawdown Current decline from peak	-32.91%	-51.10%	+18.19%
Average Drawdown Average peak-to-trough decline	-25.77%	-36.49%	+10.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	3.49%	-2.09%

Volatility

XCS2.DE vs. DFOB.DE - Volatility Comparison

The current volatility for Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) is 2.72%, while Amundi Euro Government Bond 25+Y UCITS ETF (Dist) (DFOB.DE) has a volatility of 2.94%. This indicates that XCS2.DE experiences smaller price fluctuations and is considered to be less risky than DFOB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCS2.DE	DFOB.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	2.94%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	7.34%	8.28%	-0.94%
Volatility (1Y) Calculated over the trailing 1-year period	8.96%	10.89%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.16%	17.94%	-7.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	17.09%	+3.93%

XCS2.DE vs. DFOB.DE - Expense Ratio Comparison

XCS2.DE has a 0.25% expense ratio, which is higher than DFOB.DE's 0.07% 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. DFOB.DE - Dividend Comparison

XCS2.DE has not paid dividends to shareholders, while DFOB.DE's dividend yield for the trailing twelve months is around 3.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
DFOB.DE Amundi Euro Government Bond 25+Y UCITS ETF (Dist)	3.41%	3.39%	1.55%	2.16%	2.43%	1.51%	0.58%
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XCS2.DE and DFOB.DE in my portfolio?

XCS2.DE and DFOB.DE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCS2.DE or DFOB.DE?

On fees, DFOB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCS2.DE or DFOB.DE?

DFOB.DE is cheaper with a 0.07% expense ratio, compared with 0.25% for XCS2.DE.

What is the main difference between XCS2.DE and DFOB.DE?

XCS2.DE tracks FTSE Australian Government Bond Index, while DFOB.DE tracks Bloomberg Euro Treasury 50bn 25+ Year Bond Index. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.25% for XCS2.DE and 0.07% for DFOB.DE.