XGEZ.DE vs. XY4P.DE
XGEZ.DE (Xtrackers II Eurozone Government Green Bond UCITS ETF) and XY4P.DE (Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF) are both European Government Bonds funds from Xtrackers - XGEZ.DE tracks the iBoxx® EUR Eurozone Sovereigns Green Bonds Capped while XY4P.DE tracks the iBoxx® EUR Sovereigns Eurozone Yield Plus. Both are passively managed. Over the past 3 years, XGEZ.DE returned 1.19%/yr vs 3.35%/yr for XY4P.DE. With a 0.96 correlation, they move nearly in lockstep. XGEZ.DE charges 0.18%/yr vs 0.15%/yr for XY4P.DE.
Performance
XGEZ.DE vs. XY4P.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 XY4P.DE's -0.03% return.
XGEZ.DE
- 1D
- 0.09%
- 1M
- 0.75%
- YTD
- 0.02%
- 6M
- -0.28%
- 1Y
- -1.58%
- 3Y*
- 1.19%
- 5Y*
- —
- 10Y*
- —
XY4P.DE
- 1D
- 0.06%
- 1M
- 0.56%
- YTD
- -0.03%
- 6M
- -0.02%
- 1Y
- 0.27%
- 3Y*
- 3.35%
- 5Y*
- -1.34%
- 10Y*
- 0.56%
XGEZ.DE vs. XY4P.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% |
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | -0.03% | 1.69% | 3.52% | 8.01% | 0.38% |
Correlation
The correlation between XGEZ.DE and XY4P.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 | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2022 | 0.96 |
The correlation between XGEZ.DE and XY4P.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
XGEZ.DE vs. XY4P.DE — Risk / Return Rank
XGEZ.DE
XY4P.DE
XGEZ.DE vs. XY4P.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 Yield Plus UCITS ETF (XY4P.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 | XY4P.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.01 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.07 | -0.40 |
| Martin ratioReturn relative to average drawdown | -0.72 | 0.19 | -0.91 |
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 | XY4P.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 0.06 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.40 | -0.23 |
Drawdowns
XGEZ.DE vs. XY4P.DE - Drawdown Comparison
The maximum XGEZ.DE drawdown since its inception was -13.63%, smaller than the maximum XY4P.DE drawdown of -20.52%. Use the drawdown chart below to compare losses from any high point for XGEZ.DE and XY4P.DE.
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Drawdown Indicators
| XGEZ.DE | XY4P.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -20.52% | +6.89% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -3.95% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -7.89% | -4.07% | -3.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.52% | — |
Current DrawdownCurrent decline from peak | -5.48% | -9.19% | +3.71% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -5.49% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.43% | +0.77% |
Volatility
XGEZ.DE vs. XY4P.DE - Volatility Comparison
Xtrackers II Eurozone Government Green Bond UCITS ETF (XGEZ.DE) has a higher volatility of 2.47% compared to Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.DE) at 1.77%. This indicates that XGEZ.DE's price experiences larger fluctuations and is considered to be riskier than XY4P.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 | XY4P.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 1.77% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 5.12% | 3.88% | +1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 4.57% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.92% | 6.49% | +3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.92% | 6.49% | +3.43% |
XGEZ.DE vs. XY4P.DE - Expense Ratio Comparison
XGEZ.DE has a 0.18% expense ratio, which is higher than XY4P.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. XY4P.DE - Dividend Comparison
XGEZ.DE's dividend yield for the trailing twelve months is around 2.10%, while XY4P.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
XGEZ.DE Xtrackers II Eurozone Government Green Bond UCITS ETF | 2.10% | 1.99% | 2.07% | 1.27% |
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, XGEZ.DE and XY4P.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, XY4P.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XY4P.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 XY4P.DE tracks iBoxx® EUR Sovereigns Eurozone Yield Plus. Their fees differ too: 0.18% for XGEZ.DE and 0.15% for XY4P.DE.
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