XCS2.DE vs. TRDE.DE
XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) and TRDE.DE (Invesco US Treasury Bond 7-10 Year UCITS ETF EUR Hedged Dist) are both Government Bonds funds - XCS2.DE tracks the FTSE Australian Government Bond Index while TRDE.DE tracks the Bloomberg U.S. Treasury 7-10 Year Total Return Index. Both are passively managed. Over the past 5 years, XCS2.DE returned -1.92%/yr vs -3.36%/yr for TRDE.DE. At a 0.40 correlation, their price movements are largely independent. XCS2.DE charges 0.25%/yr vs 0.10%/yr for TRDE.DE.
Performance
XCS2.DE vs. TRDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XCS2.DE achieves a 8.80% return, which is significantly higher than TRDE.DE's -1.75% return.
XCS2.DE
- 1D
- 0.11%
- 1M
- 0.11%
- 6M
- 7.57%
- YTD
- 8.80%
- 1Y
- 10.13%
- 3Y*
- 2.65%
- 5Y*
- -1.92%
- 10Y*
- -0.29%
TRDE.DE
- 1D
- 0.03%
- 1M
- -0.56%
- 6M
- -1.72%
- YTD
- -1.75%
- 1Y
- 1.78%
- 3Y*
- 0.76%
- 5Y*
- -3.36%
- 10Y*
- —
XCS2.DE vs. TRDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 8.80% | -2.17% | -1.70% | 0.78% | -13.88% | -0.26% | 4.13% | 4.81% |
TRDE.DE Invesco US Treasury Bond 7-10 Year UCITS ETF EUR Hedged Dist | -1.75% | 6.20% | -2.34% | 1.23% | -17.08% | -3.96% | 8.23% | 4.48% |
Correlation
The correlation between XCS2.DE and TRDE.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019 | 0.40 |
The correlation between XCS2.DE and TRDE.DE shifts across timeframes, from 0.29 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCS2.DE vs. TRDE.DE — Risk / Return Rank
XCS2.DE
TRDE.DE
XCS2.DE vs. TRDE.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 Invesco US Treasury Bond 7-10 Year UCITS ETF EUR Hedged Dist (TRDE.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 | TRDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.07 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 0.43 | +1.78 |
| Martin ratioReturn relative to average drawdown | 7.24 | 1.03 | +6.21 |
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Drawdowns
XCS2.DE vs. TRDE.DE - Drawdown Comparison
The maximum XCS2.DE drawdown since its inception was -41.58%, which is greater than TRDE.DE's maximum drawdown of -27.68%. Use the drawdown chart below to compare losses from any high point for XCS2.DE and TRDE.DE.
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Drawdown Indicators
| XCS2.DE | TRDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -27.68% | -13.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.56% | -4.14% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -12.00% | -7.64% | -4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -22.36% | -24.70% | +2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -41.58% | — | — |
Current DrawdownCurrent decline from peak | -32.75% | -20.06% | -12.69% |
Average DrawdownAverage peak-to-trough decline | -25.77% | -13.77% | -12.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 1.72% | -0.32% |
Volatility
XCS2.DE vs. TRDE.DE - Volatility Comparison
Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) has a higher volatility of 2.74% compared to Invesco US Treasury Bond 7-10 Year UCITS ETF EUR Hedged Dist (TRDE.DE) at 1.22%. This indicates that XCS2.DE's price experiences larger fluctuations and is considered to be riskier than TRDE.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 | TRDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 1.22% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 3.24% | +4.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.96% | 4.48% | +4.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.16% | 7.39% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 6.86% | +14.16% |
XCS2.DE vs. TRDE.DE - Expense Ratio Comparison
XCS2.DE has a 0.25% expense ratio, which is higher than TRDE.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
XCS2.DE vs. TRDE.DE - Dividend Comparison
XCS2.DE has not paid dividends to shareholders, while TRDE.DE's dividend yield for the trailing twelve months is around 4.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TRDE.DE Invesco US Treasury Bond 7-10 Year UCITS ETF EUR Hedged Dist | 4.33% | 4.15% | 4.39% | 3.47% | 2.43% | 1.62% | 1.75% | 1.66% |
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% |
Frequently Asked Questions
XCS2.DE and TRDE.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRDE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRDE.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XCS2.DE.
XCS2.DE tracks FTSE Australian Government Bond Index, while TRDE.DE tracks Bloomberg U.S. Treasury 7-10 Year Total Return Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.25% for XCS2.DE and 0.10% for TRDE.DE.
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