XCS4.DE vs. DX2S.DE

Last updated Jun 5, 2026

XCS4.DE (Xtrackers MSCI Thailand UCITS ETF 1C) and DX2S.DE (Xtrackers S&P/ASX 200 UCITS ETF 1D) are both Asia Pacific Equities funds from Xtrackers - XCS4.DE tracks the MSCI Thailand while DX2S.DE tracks the S&P/ASX 200. Both are passively managed. Over the past 10 years, XCS4.DE returned 4.54%/yr vs 7.90%/yr for DX2S.DE. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

XCS4.DE vs. DX2S.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI Thailand UCITS ETF 1C (XCS4.DE) and Xtrackers S&P/ASX 200 UCITS ETF 1D (DX2S.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCS4.DE achieves a 29.46% return, which is significantly higher than DX2S.DE's 8.70% return. Over the past 10 years, XCS4.DE has underperformed DX2S.DE with an annualized return of 4.54%, while DX2S.DE has yielded a comparatively higher 7.90% annualized return.

XCS4.DE

• 1D: 0.72%
• 1M: 6.51%
• YTD: 29.46%
• 6M: 30.18%
• 1Y: 51.19%
• 3Y*: 7.20%
• 5Y*: 5.01%
• 10Y*: 4.54%

DX2S.DE

• 1D: -0.78%
• 1M: 0.09%
• YTD: 8.70%
• 6M: 10.64%
• 1Y: 12.92%
• 3Y*: 9.46%
• 5Y*: 6.26%
• 10Y*: 7.90%

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

XCS4.DE vs. DX2S.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XCS4.DE Xtrackers MSCI Thailand UCITS ETF 1C	29.46%	-3.83%	7.49%	-15.52%	11.15%	6.09%	-19.52%	11.73%	-1.47%	17.20%
DX2S.DE Xtrackers S&P/ASX 200 UCITS ETF 1D	8.70%	4.55%	8.00%	7.90%	-3.18%	19.42%	0.73%	25.78%	-8.43%	5.76%

Correlation

The correlation between XCS4.DE and DX2S.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 27, 2011	0.48

Return for Risk

XCS4.DE vs. DX2S.DE — Risk / Return Rank

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

XCS4.DE

XCS4.DE Risk / Return Rank: 75
XCS4.DE Sharpe Ratio Rank: 74
XCS4.DE Sortino Ratio Rank: 71
XCS4.DE Omega Ratio Rank: 67
XCS4.DE Calmar Ratio Rank: 87
XCS4.DE Martin Ratio Rank: 77

DX2S.DE

DX2S.DE Risk / Return Rank: 28
DX2S.DE Sharpe Ratio Rank: 27
DX2S.DE Sortino Ratio Rank: 27
DX2S.DE Omega Ratio Rank: 26
DX2S.DE Calmar Ratio Rank: 31
DX2S.DE Martin Ratio Rank: 31

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.

XCS4.DE vs. DX2S.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Thailand UCITS ETF 1C (XCS4.DE) and Xtrackers S&P/ASX 200 UCITS ETF 1D (DX2S.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.

	XCS4.DE	DX2S.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.35	0.94	+1.41
Sortino ratio: Return per unit of downside risk	3.19	1.45	+1.74
Omega ratio: Gain probability vs. loss probability	1.40	1.17	+0.23
Calmar ratio: Return relative to maximum drawdown	4.91	1.53	+3.38
Martin ratio: Return relative to average drawdown	14.58	4.54	+10.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCS4.DE vs. DX2S.DE - Sharpe Ratio Comparison

The current XCS4.DE Sharpe Ratio is 2.35, which is higher than the DX2S.DE Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of XCS4.DE and DX2S.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.

Sharpe Ratios by Period

	XCS4.DE	DX2S.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	0.94	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.37	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.41	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.27	-0.04

Drawdowns

XCS4.DE vs. DX2S.DE - Drawdown Comparison

The maximum XCS4.DE drawdown since its inception was -45.06%, smaller than the maximum DX2S.DE drawdown of -55.30%. Use the drawdown chart below to compare losses from any high point for XCS4.DE and DX2S.DE.

Drawdown Indicators

	XCS4.DE	DX2S.DE	Difference
Max Drawdown Largest peak-to-trough decline	-45.06%	-55.30%	+10.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-8.41%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-29.85%	-23.42%	-6.43%
Max Drawdown (5Y) Largest decline over 5 years	-34.04%	-23.42%	-10.62%
Max Drawdown (10Y) Largest decline over 10 years	-45.06%	-43.65%	-1.41%
Current Drawdown Current decline from peak	-0.16%	-2.77%	+2.61%
Average Drawdown Average peak-to-trough decline	-15.35%	-9.14%	-6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.84%	+0.66%

Volatility

XCS4.DE vs. DX2S.DE - Volatility Comparison

Xtrackers MSCI Thailand UCITS ETF 1C (XCS4.DE) has a higher volatility of 5.83% compared to Xtrackers S&P/ASX 200 UCITS ETF 1D (DX2S.DE) at 4.24%. This indicates that XCS4.DE's price experiences larger fluctuations and is considered to be riskier than DX2S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCS4.DE	DX2S.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	4.24%	+1.59%
Volatility (6M) Calculated over the trailing 6-month period	16.61%	10.89%	+5.72%
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	13.68%	+8.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.90%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	19.26%	+0.44%

XCS4.DE vs. DX2S.DE - Expense Ratio Comparison

Both XCS4.DE and DX2S.DE have an expense ratio of 0.50%.

Dividends

XCS4.DE vs. DX2S.DE - Dividend Comparison

XCS4.DE has not paid dividends to shareholders, while DX2S.DE's dividend yield for the trailing twelve months is around 2.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DX2S.DE Xtrackers S&P/ASX 200 UCITS ETF 1D	2.52%	2.75%	3.13%	3.81%	5.44%	2.05%	5.01%	3.62%	3.60%	3.63%	4.04%
XCS4.DE Xtrackers MSCI Thailand UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XCS4.DE and DX2S.DE in my portfolio?

XCS4.DE and DX2S.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCS4.DE or DX2S.DE?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCS4.DE or DX2S.DE?

XCS4.DE and DX2S.DE have the same expense ratio: 0.50% per year.

What is the main difference between XCS4.DE and DX2S.DE?

XCS4.DE tracks MSCI Thailand, while DX2S.DE tracks S&P/ASX 200.