XGEZ.DE vs. JBEM.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and JBEM.DE (BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while JBEM.DE tracks the J.P. Morgan ESG EMU Government Bond IG Index. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.00%/yr vs 2.06%/yr for JBEM.DE. With a 0.96 correlation, they move nearly in lockstep. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for JBEM.DE.
Performance
XGEZ.DE vs. JBEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGEZ.DE achieves a -0.54% return, which is significantly lower than JBEM.DE's -0.32% return.
XGEZ.DE
- 1D
- 0.00%
- 1M
- -1.47%
- 6M
- -1.42%
- YTD
- -0.54%
- 1Y
- -0.58%
- 3Y*
- 1.00%
- 5Y*
- —
- 10Y*
- —
JBEM.DE
- 1D
- -0.21%
- 1M
- -1.15%
- 6M
- -0.94%
- YTD
- -0.32%
- 1Y
- -0.11%
- 3Y*
- 2.06%
- 5Y*
- -2.75%
- 10Y*
- —
XGEZ.DE vs. JBEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | -0.54% | -2.16% | -0.51% | 8.88% | -0.36% |
JBEM.DE BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF | -0.32% | 0.42% | 1.18% | 6.64% | -0.46% |
Correlation
The correlation between XGEZ.DE and JBEM.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.96 |
The correlation between XGEZ.DE and JBEM.DE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. JBEM.DE — Risk / Return Rank
XGEZ.DE
JBEM.DE
XGEZ.DE vs. JBEM.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 BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.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.
| XGEZ.DE | JBEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.00 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | -0.03 | -0.09 |
| Martin ratioReturn relative to average drawdown | -0.27 | -0.08 | -0.19 |
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Drawdowns
XGEZ.DE vs. JBEM.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum JBEM.DE drawdown of -22.48%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and JBEM.DE.
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Drawdown Indicators
| XGEZ.DE | JBEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -22.48% | +8.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -3.21% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -7.82% | -3.95% | -3.87% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.49% | — |
Current DrawdownCurrent decline from peak | -6.01% | -15.11% | +9.10% |
Average DrawdownAverage peak-to-trough decline | -5.38% | -10.62% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.39% | +0.79% |
Volatility
XGEZ.DE vs. JBEM.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 1.67% compared to BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF (JBEM.DE) at 1.08%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than JBEM.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 | JBEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.08% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 3.53% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.45% | 4.23% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.87% | 6.18% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.87% | 5.71% | +4.16% |
XGEZ.DE vs. JBEM.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than JBEM.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. JBEM.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.11%, while JBEM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
JBEM.DE BNP Paribas Easy JPM ESG EMU Government Bond IG UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.11% | 1.99% | 2.07% | 1.27% |
Frequently Asked Questions
With a correlation of 0.93, XGEZ.DE and JBEM.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, JBEM.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JBEM.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 JBEM.DE tracks J.P. Morgan ESG EMU Government Bond IG Index. They also come from different issuers: Xtrackers and BNP Paribas Easy. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for JBEM.DE.
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