XGEZ.DE vs. VGOV.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 2.00%/yr for VGOV.DE. A 0.74 correlation means they provide meaningful diversification when combined. XGEZ.DE charges 0.18%/yr vs 0.07%/yr for VGOV.DE.
Performance
XGEZ.DE vs. VGOV.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 VGOV.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*
- —
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
XGEZ.DE vs. VGOV.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% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | 0.13% |
Correlation
The correlation between XGEZ.DE and VGOV.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.74 |
The correlation between XGEZ.DE and VGOV.DE has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. VGOV.DE — Risk / Return Rank
XGEZ.DE
VGOV.DE
XGEZ.DE vs. VGOV.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 UK Gilt UCITS ETF Distributing (VGOV.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 | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.99 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | -0.13 | -0.21 |
| Martin ratioReturn relative to average drawdown | -0.72 | -0.29 | -0.43 |
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 | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | -0.08 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.13 | +0.29 |
Drawdowns
XGEZ.DE vs. VGOV.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and VGOV.DE.
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Drawdown Indicators
| XGEZ.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -40.95% | +27.32% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -5.37% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -9.01% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.45% | — |
Current DrawdownCurrent decline from peak | -5.48% | -30.35% | +24.87% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -16.60% | +11.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.35% | -0.15% |
Volatility
XGEZ.DE vs. VGOV.DE - Volatility Comparison
The current volatility for Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) is 2.47%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that XGEZ.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.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 | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 3.34% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 6.15% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 7.99% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 12.87% | -2.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 11.86% | -1.94% |
XGEZ.DE vs. VGOV.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than VGOV.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. VGOV.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, less than VGOV.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% |
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% |
Frequently Asked Questions
XGEZ.DE and VGOV.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.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 VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.18% for XGEZ.DE and 0.07% for VGOV.DE.
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