XEON.DE vs. CSH.PA
XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) and CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) are both exchange-traded funds - XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index, while CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index. Both are passively managed. Over the past 10 years, XEON.DE returned 0.70%/yr vs 0.92%/yr for CSH.PA. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
XEON.DE vs. CSH.PA - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XEON.DE having a 0.80% return and CSH.PA slightly lower at 0.78%. Over the past 10 years, XEON.DE has underperformed CSH.PA with an annualized return of 0.70%, while CSH.PA has yielded a comparatively higher 0.92% annualized return.
XEON.DE
- 1D
- -0.01%
- 1M
- 0.15%
- YTD
- 0.80%
- 6M
- 0.95%
- 1Y
- 1.95%
- 3Y*
- 2.99%
- 5Y*
- 1.94%
- 10Y*
- 0.70%
CSH.PA
- 1D
- 0.01%
- 1M
- 0.18%
- YTD
- 0.78%
- 6M
- 0.97%
- 1Y
- 1.99%
- 3Y*
- 2.96%
- 5Y*
- 1.89%
- 10Y*
- 0.92%
XEON.DE vs. CSH.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.80% | 2.25% | 3.78% | 3.30% | -0.04% | -0.58% | -0.57% | -0.49% | -0.47% | -0.52% |
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.78% | 2.25% | 3.69% | 3.22% | -0.06% | -0.65% | 1.93% | -0.61% | -0.55% | -0.45% |
Correlation
The correlation between XEON.DE and CSH.PA is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008 | 0.31 |
The correlation between XEON.DE and CSH.PA shifts across timeframes, from 0.16 (3 years) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XEON.DE vs. CSH.PA — Risk / Return Rank
XEON.DE
CSH.PA
XEON.DE vs. CSH.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) and Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). 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.
| XEON.DE | CSH.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.97 | ||
| Sortino ratioReturn per unit of downside risk | +14.62 | ||
| Omega ratioGain probability vs. loss probability | 4.27 | 1.96 | +2.31 |
| Calmar ratioReturn relative to maximum drawdown | 69.36 | 11.24 | +58.12 |
| Martin ratioReturn relative to average drawdown | 316.53 | 57.34 | +259.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XEON.DE | CSH.PA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.94 | 3.96 | +4.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 7.54 | 5.28 | +2.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.78 | 1.41 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.79 | -0.05 |
Drawdowns
XEON.DE vs. CSH.PA - Drawdown Comparison
The maximum XEON.DE drawdown since its inception was -3.71%, roughly equal to the maximum CSH.PA drawdown of -3.73%. Use the drawdown chart below to compare losses from any high point for XEON.DE and CSH.PA.
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Drawdown Indicators
| XEON.DE | CSH.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -3.73% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.18% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -0.18% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -0.71% | -0.77% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -3.25% | -2.27% | -0.98% |
Current DrawdownCurrent decline from peak | -0.01% | 0.00% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -1.04% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.03% | -0.02% |
Volatility
XEON.DE vs. CSH.PA - Volatility Comparison
The current volatility for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) is 0.04%, while Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) has a volatility of 0.09%. This indicates that XEON.DE experiences smaller price fluctuations and is considered to be less risky than CSH.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEON.DE | CSH.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 0.09% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 0.41% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 0.50% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.25% | 0.35% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.39% | 0.64% | -0.25% |
XEON.DE vs. CSH.PA - Expense Ratio Comparison
Both XEON.DE and CSH.PA have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XEON.DE vs. CSH.PA - Dividend Comparison
Neither XEON.DE nor CSH.PA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 2.60% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEON.DE and CSH.PA have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE and CSH.PA have the same expense ratio: 0.10% per year.
XEON.DE is categorized as Bank Loan, while CSH.PA is Money Market. XEON.DE tracks Solactive €STR +8.5 Daily Index, while CSH.PA tracks Solactive Euro Overnight Return Index. They also come from different issuers: Xtrackers and Amundi.
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