XQUD.DE vs. GASF.DE
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - XQUD.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 3 years, XQUD.DE returned 3.78%/yr vs 5.05%/yr for GASF.DE. At a 0.42 correlation, their price movements are largely independent. XQUD.DE charges 0.45%/yr vs 0.24%/yr for GASF.DE.
Performance
XQUD.DE vs. GASF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XQUD.DE achieves a 2.96% return, which is significantly lower than GASF.DE's 7.80% return.
XQUD.DE
- 1D
- 0.00%
- 1M
- 0.25%
- 6M
- 1.78%
- YTD
- 2.96%
- 1Y
- 7.40%
- 3Y*
- 3.78%
- 5Y*
- —
- 10Y*
- —
GASF.DE
- 1D
- 0.00%
- 1M
- 1.11%
- 6M
- 5.78%
- YTD
- 7.80%
- 1Y
- 8.64%
- 3Y*
- 5.05%
- 5Y*
- 3.49%
- 10Y*
- —
XQUD.DE vs. GASF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 2.96% | -1.36% | 5.23% | 3.70% | -0.19% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.80% | -6.82% | 10.85% | -2.28% | -2.05% |
Correlation
The correlation between XQUD.DE and GASF.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022 | 0.42 |
Over the past year, XQUD.DE and GASF.DE have become more correlated (0.63) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
XQUD.DE vs. GASF.DE — Risk / Return Rank
XQUD.DE
GASF.DE
XQUD.DE vs. GASF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) and Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.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.
| XQUD.DE | GASF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 2.53 | -0.60 |
| Martin ratioReturn relative to average drawdown | 5.79 | 7.67 | -1.88 |
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Drawdowns
XQUD.DE vs. GASF.DE - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, smaller than the maximum GASF.DE drawdown of -13.75%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and GASF.DE.
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Drawdown Indicators
| XQUD.DE | GASF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -13.75% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -3.40% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -11.00% | -0.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.75% | — |
Current DrawdownCurrent decline from peak | -2.05% | -1.66% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -5.42% | -6.05% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.12% | +0.16% |
Volatility
XQUD.DE vs. GASF.DE - Volatility Comparison
The current volatility for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) is 1.14%, while Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a volatility of 1.25%. This indicates that XQUD.DE experiences smaller price fluctuations and is considered to be less risky than GASF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUD.DE | GASF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.25% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 3.44% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.73% | 5.31% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 6.68% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.94% | 7.71% | +0.23% |
XQUD.DE vs. GASF.DE - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is higher than GASF.DE's 0.24% expense ratio.
Dividends
XQUD.DE vs. GASF.DE - Dividend Comparison
XQUD.DE has not paid dividends to shareholders, while GASF.DE's dividend yield for the trailing twelve months is around 1.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.99% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XQUD.DE and GASF.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.45% for XQUD.DE.
XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while GASF.DE tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: Xtrackers and Goldman Sachs. Their fees differ too: 0.45% for XQUD.DE and 0.24% for GASF.DE.
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