XGEZ.DE vs. XBAT.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and XBAT.DE (Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF) are both European Government Bonds funds from Xtrackers - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while XBAT.DE tracks the iBoxx® EUR Sovereigns Eurozone AAA. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.15%/yr vs 2.19%/yr for XBAT.DE. Their correlation of 0.91 suggests significant overlap in exposure. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for XBAT.DE.
Performance
XGEZ.DE vs. XBAT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XGEZ.DE achieves a 1.60% return, which is significantly higher than XBAT.DE's 0.42% return.
XGEZ.DE
- 1D
- 0.00%
- 1M
- 1.09%
- YTD
- 1.60%
- 6M
- 1.74%
- 1Y
- 0.26%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
XBAT.DE
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 0.42%
- 6M
- 0.58%
- 1Y
- 1.26%
- 3Y*
- 2.19%
- 5Y*
- -2.26%
- 10Y*
- -1.07%
XGEZ.DE vs. XBAT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 1.60% | -2.16% | -0.51% | 8.88% | -0.36% |
XBAT.DE Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF | 0.42% | 2.47% | 0.18% | 3.80% | 0.29% |
Correlation
The correlation between XGEZ.DE and XBAT.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.91 |
The correlation between XGEZ.DE and XBAT.DE shifts across timeframes, from 0.80 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XGEZ.DE vs. XBAT.DE — Risk / Return Rank
XGEZ.DE
XBAT.DE
XGEZ.DE vs. XBAT.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 Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.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 | XBAT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.11 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 0.63 | -0.57 |
| Martin ratioReturn relative to average drawdown | 0.12 | 1.81 | -1.68 |
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Drawdowns
XGEZ.DE vs. XBAT.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum XBAT.DE drawdown of -24.48%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and XBAT.DE.
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Drawdown Indicators
| XGEZ.DE | XBAT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -24.48% | +10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -2.01% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -7.88% | -4.50% | -3.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.48% | — |
Current DrawdownCurrent decline from peak | -3.99% | -16.08% | +12.09% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -6.96% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 0.70% | +1.41% |
Volatility
XGEZ.DE vs. XBAT.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 1.75% compared to Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF (XBAT.DE) at 0.46%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than XBAT.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 | XBAT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 0.46% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 5.23% | 1.93% | +3.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 2.19% | +4.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 6.05% | +3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 5.36% | +4.56% |
XGEZ.DE vs. XBAT.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than XBAT.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. XBAT.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.06%, while XBAT.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
XBAT.DE Xtrackers iBoxx Sovereigns Eurozone AAA Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.06% | 1.99% | 2.07% | 1.27% |
Frequently Asked Questions
XGEZ.DE and XBAT.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBAT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBAT.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 XBAT.DE tracks iBoxx® EUR Sovereigns Eurozone AAA. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for XBAT.DE.
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