XGEZ.DE vs. TGBT.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and TGBT.DE (VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while TGBT.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 1-10. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 2.64%/yr for TGBT.DE. Their correlation of 0.94 suggests significant overlap in exposure. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for TGBT.DE.
Performance
XGEZ.DE vs. TGBT.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 higher than TGBT.DE's -0.51% return.
XGEZ.DE
- 1D
- 0.09%
- 1M
- -0.02%
- YTD
- 0.02%
- 6M
- -0.16%
- 1Y
- -1.07%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
TGBT.DE
- 1D
- 0.11%
- 1M
- 0.02%
- YTD
- -0.51%
- 6M
- 0.56%
- 1Y
- 0.78%
- 3Y*
- 2.64%
- 5Y*
- -2.05%
- 10Y*
- —
XGEZ.DE vs. TGBT.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% |
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | -0.51% | 2.54% | 1.35% | 7.34% | -0.29% |
Correlation
The correlation between XGEZ.DE and TGBT.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.94 |
The correlation between XGEZ.DE and TGBT.DE shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XGEZ.DE vs. TGBT.DE — Risk / Return Rank
XGEZ.DE
TGBT.DE
XGEZ.DE vs. TGBT.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 VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.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 | TGBT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.02 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.11 | -0.44 |
| Martin ratioReturn relative to average drawdown | -0.72 | 0.29 | -1.00 |
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 | TGBT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.08 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.09 | +0.26 |
Drawdowns
XGEZ.DE vs. TGBT.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum TGBT.DE drawdown of -21.36%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and TGBT.DE.
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Drawdown Indicators
| XGEZ.DE | TGBT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -21.36% | +7.73% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -3.32% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -3.56% | -4.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.12% | — |
Current DrawdownCurrent decline from peak | -5.48% | -11.91% | +6.43% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -9.23% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.26% | +0.94% |
Volatility
XGEZ.DE vs. TGBT.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 2.47% compared to VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) at 1.55%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than TGBT.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 | TGBT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 1.55% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 3.94% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 4.44% | +1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 6.38% | +3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 5.67% | +4.25% |
XGEZ.DE vs. TGBT.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than TGBT.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. TGBT.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, more than TGBT.DE's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | 1.95% | 2.17% | 1.13% | 0.57% | 0.60% | 0.77% | 0.75% | 0.35% |
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% |
Frequently Asked Questions
XGEZ.DE and TGBT.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TGBT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TGBT.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 TGBT.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 1-10. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for TGBT.DE.
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