XGEZ.DE vs. VGEA.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 2.38%/yr for VGEA.DE. With a 0.97 correlation, they move nearly in lockstep. XGEZ.DE charges 0.18%/yr vs 0.07%/yr for VGEA.DE.
Performance
XGEZ.DE vs. VGEA.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 VGEA.DE's 0.11% return.
XGEZ.DE
- 1D
- 0.09%
- 1M
- -0.02%
- YTD
- 0.02%
- 6M
- -0.16%
- 1Y
- -1.07%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 10Y*
- —
XGEZ.DE vs. VGEA.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% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -0.07% |
Correlation
The correlation between XGEZ.DE and VGEA.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.97 |
The correlation between XGEZ.DE and VGEA.DE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. VGEA.DE — Risk / Return Rank
XGEZ.DE
VGEA.DE
XGEZ.DE vs. VGEA.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 Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.00 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | -0.01 | -0.32 |
| Martin ratioReturn relative to average drawdown | -0.72 | -0.04 | -0.68 |
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 | VGEA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | -0.01 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.10 | +0.26 |
Drawdowns
XGEZ.DE vs. VGEA.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum VGEA.DE drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and VGEA.DE.
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Drawdown Indicators
| XGEZ.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -22.34% | +8.71% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -3.44% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -4.00% | -3.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.47% | — |
Current DrawdownCurrent decline from peak | -5.48% | -13.91% | +8.43% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -10.30% | +4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.33% | +0.87% |
Volatility
XGEZ.DE vs. VGEA.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 2.47% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) at 1.67%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 1.67% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 3.62% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 4.33% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 6.39% | +3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 5.86% | +4.06% |
XGEZ.DE vs. VGEA.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than VGEA.DE's 0.07% 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. VGEA.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, while VGEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.10% | 1.99% | 2.07% | 1.27% |
Frequently Asked Questions
With a correlation of 0.97, XGEZ.DE and VGEA.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, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.18% for XGEZ.DE.
XGEZ.DE tracks iBoxx® EUR Eurozone Sovereigns Green Bonds Capped, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.18% for XGEZ.DE and 0.07% for VGEA.DE.
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