XGEZ.DE vs. IBCA.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 2.71%/yr for IBCA.DE. A 0.77 correlation means they provide meaningful diversification when combined. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for IBCA.DE.
Performance
XGEZ.DE vs. IBCA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGEZ.DE achieves a 0.02% return, which is significantly lower than IBCA.DE's 0.16% return.
XGEZ.DE
- 1D
- 0.09%
- 1M
- -0.02%
- YTD
- 0.02%
- 6M
- -0.16%
- 1Y
- -1.07%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.09%
- YTD
- 0.16%
- 6M
- 0.30%
- 1Y
- 1.12%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
XGEZ.DE vs. IBCA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 0.02% | -2.16% | -0.51% | 8.88% | 0.10% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -0.14% |
Correlation
The correlation between XGEZ.DE and IBCA.DE is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.77 |
The correlation between XGEZ.DE and IBCA.DE has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. IBCA.DE — Risk / Return Rank
XGEZ.DE
IBCA.DE
XGEZ.DE vs. IBCA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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.
| XGEZ.DE | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.15 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.84 | -1.18 |
| Martin ratioReturn relative to average drawdown | -0.72 | 2.70 | -3.41 |
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
| XGEZ.DE | IBCA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.71 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.25 | -0.08 |
Drawdowns
XGEZ.DE vs. IBCA.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and IBCA.DE.
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Drawdown Indicators
| XGEZ.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -8.31% | -5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -1.14% | -3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -1.14% | -6.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.31% | — |
Current DrawdownCurrent decline from peak | -5.48% | -0.45% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -1.03% | -4.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 0.36% | +1.84% |
Volatility
XGEZ.DE vs. IBCA.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 2.47% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.64%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGEZ.DE | IBCA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 0.64% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 1.27% | +3.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 1.36% | +5.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 1.55% | +8.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 3.81% | +6.11% |
XGEZ.DE vs. IBCA.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than IBCA.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
XGEZ.DE vs. IBCA.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, less than IBCA.DE's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.10% | 1.99% | 2.07% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XGEZ.DE and IBCA.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCA.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for XGEZ.DE.
XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for IBCA.DE.
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