XMEU.L vs. GOVD.L

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L).

XMEU.L and GOVD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMEU.L is a passively managed fund by Xtrackers that tracks the performance of the MSCI Europe NR EUR. It was launched on Jan 10, 2007. GOVD.L is a passively managed fund by Amundi that tracks the performance of the Bloomberg Global Aggregate TR USD. It was launched on Jun 24, 2020. Both XMEU.L and GOVD.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMEU.L vs. GOVD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L). The values are adjusted to include any dividend payments, if applicable.

XMEU.L vs. GOVD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XMEU.L Xtrackers MSCI Europe UCITS ETF 1C	1.46%	25.81%	3.60%	13.26%	-3.48%	16.84%	9.74%
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	-25.65%	33.30%	1.30%	-0.61%	-8.32%	-5.61%	-4.31%

Different Trading Currencies

XMEU.L is traded in GBp, while GOVD.L is traded in GBP. To make them comparable, the GOVD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMEU.L achieves a 1.46% return, which is significantly higher than GOVD.L's -25.65% return.

XMEU.L

• 1D: 2.24%
• 1M: -4.17%
• YTD: 1.46%
• 6M: 6.43%
• 1Y: 17.99%
• 3Y*: 11.85%
• 5Y*: 10.40%
• 10Y*: 9.90%

GOVD.L

• 1D: -0.32%
• 1M: -1.62%
• YTD: -25.65%
• 6M: -0.70%
• 1Y: -0.69%
• 3Y*: -0.19%
• 5Y*: -1.55%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XMEU.L vs. GOVD.L - Expense Ratio Comparison

XMEU.L has a 0.12% expense ratio, which is higher than GOVD.L's 0.09% 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%.

XMEU.L

Xtrackers MSCI Europe UCITS ETF 1C

GOVD.L

Lyxor Core Global Government Bond (DR) UCITS ETF - Dist

Return for Risk

XMEU.L vs. GOVD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XMEU.L

XMEU.L Risk / Return Rank: 67
XMEU.L Sharpe Ratio Rank: 71
XMEU.L Sortino Ratio Rank: 65
XMEU.L Omega Ratio Rank: 69
XMEU.L Calmar Ratio Rank: 66
XMEU.L Martin Ratio Rank: 64

GOVD.L

GOVD.L Risk / Return Rank: 31
GOVD.L Sharpe Ratio Rank: 11
GOVD.L Sortino Ratio Rank: 42
GOVD.L Omega Ratio Rank: 79
GOVD.L Calmar Ratio Rank: 11
GOVD.L Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XMEU.L vs. GOVD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) and Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L). 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.

	XMEU.L	GOVD.L	Difference
Sharpe ratio Return per unit of total volatility	1.31	-0.00	+1.31
Sortino ratio Return per unit of downside risk	1.72	1.25	+0.47
Omega ratio Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio Return relative to maximum drawdown	1.80	-0.01	+1.81
Martin ratio Return relative to average drawdown	6.89	-0.03	+6.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMEU.L vs. GOVD.L - Sharpe Ratio Comparison

The current XMEU.L Sharpe Ratio is 1.31, which is higher than the GOVD.L Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of XMEU.L and GOVD.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XMEU.L	GOVD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	-0.00	+1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	-0.02	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	-0.05	+0.46

Correlation

The correlation between XMEU.L and GOVD.L is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

XMEU.L vs. GOVD.L - Dividend Comparison

XMEU.L has not paid dividends to shareholders, while GOVD.L's dividend yield for the trailing twelve months is around 2.68%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XMEU.L Xtrackers MSCI Europe UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%
GOVD.L Lyxor Core Global Government Bond (DR) UCITS ETF - Dist	2.68%	1.99%	5.59%	2.06%	1.54%	1.67%	0.65%	0.00%	0.00%	0.00%	0.00%

Drawdowns

XMEU.L vs. GOVD.L - Drawdown Comparison

The maximum XMEU.L drawdown since its inception was -44.27%, which is greater than GOVD.L's maximum drawdown of -27.60%. Use the drawdown chart below to compare losses from any high point for XMEU.L and GOVD.L.

Drawdown Indicators

	XMEU.L	GOVD.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.27%	-27.60%	-16.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-27.60%	+17.28%
Max Drawdown (5Y) Largest decline over 5 years	-15.60%	-27.60%	+12.00%
Max Drawdown (10Y) Largest decline over 10 years	-28.55%	—	—
Current Drawdown Current decline from peak	-6.06%	-26.86%	+20.80%
Average Drawdown Average peak-to-trough decline	-5.92%	-14.83%	+8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	12.69%	-9.99%

Volatility

XMEU.L vs. GOVD.L - Volatility Comparison

The current volatility for Xtrackers MSCI Europe UCITS ETF 1C (XMEU.L) is 5.73%, while Lyxor Core Global Government Bond (DR) UCITS ETF - Dist (GOVD.L) has a volatility of 42.00%. This indicates that XMEU.L experiences smaller price fluctuations and is considered to be less risky than GOVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMEU.L	GOVD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	42.00%	-36.27%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	153.76%	-144.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.75%	156.71%	-142.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.75%	70.66%	-56.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	66.16%	-51.34%