XQUE.DE vs. CGB.DE
XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) and CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds from Xtrackers - XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged) while CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Both are passively managed. Over the past 5 years, XQUE.DE returned -2.72%/yr vs 3.10%/yr for CGB.DE. At a correlation of -0.16, they often move in opposite directions. XQUE.DE charges 0.50%/yr vs 0.20%/yr for CGB.DE.
Performance
XQUE.DE vs. CGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XQUE.DE achieves a -0.71% return, which is significantly lower than CGB.DE's 8.22% return.
XQUE.DE
- 1D
- 0.12%
- 1M
- -0.95%
- 6M
- -0.36%
- YTD
- -0.71%
- 1Y
- 3.96%
- 3Y*
- 2.34%
- 5Y*
- -2.72%
- 10Y*
- —
CGB.DE
- 1D
- -0.05%
- 1M
- 1.36%
- 6M
- 6.23%
- YTD
- 8.22%
- 1Y
- 9.90%
- 3Y*
- 4.82%
- 5Y*
- 3.10%
- 10Y*
- 2.41%
XQUE.DE vs. CGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | -0.71% | 8.45% | -2.21% | 4.90% | -19.86% | -2.86% | 5.15% | 11.65% | -6.17% | 0.90% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.22% | -6.58% | 9.93% | -2.82% | -0.10% | 15.85% | -0.38% | 4.86% | 4.94% | 1.24% |
Correlation
The correlation between XQUE.DE and CGB.DE is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2017 | -0.16 |
The correlation between XQUE.DE and CGB.DE shifts across timeframes, from -0.28 (3 years) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XQUE.DE vs. CGB.DE — Risk / Return Rank
XQUE.DE
CGB.DE
XQUE.DE vs. CGB.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 EUR Hedged (XQUE.DE) and Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.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.
| XQUE.DE | CGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.30 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 3.48 | -2.53 |
| Martin ratioReturn relative to average drawdown | 2.74 | 10.44 | -7.69 |
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Drawdowns
XQUE.DE vs. CGB.DE - Drawdown Comparison
The maximum XQUE.DE drawdown since its inception was -28.45%, which is greater than CGB.DE's maximum drawdown of -20.06%. Use the drawdown chart below to compare losses from any high point for XQUE.DE and CGB.DE.
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Drawdown Indicators
| XQUE.DE | CGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.45% | -20.06% | -8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.13% | -2.83% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -8.80% | -11.08% | +2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -28.06% | -13.94% | -14.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -14.01% | -0.74% | -13.27% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -9.25% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 0.94% | +0.50% |
Volatility
XQUE.DE vs. CGB.DE - Volatility Comparison
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.DE) and Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) have volatilities of 1.45% and 1.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUE.DE | CGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.51% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 3.98% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 5.75% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.36% | 6.73% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.93% | 11.06% | -2.13% |
XQUE.DE vs. CGB.DE - Expense Ratio Comparison
XQUE.DE has a 0.50% expense ratio, which is higher than CGB.DE's 0.20% expense ratio.
Dividends
XQUE.DE vs. CGB.DE - Dividend Comparison
XQUE.DE's dividend yield for the trailing twelve months is around 4.48%, more than CGB.DE's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 1.99% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | 4.48% | 4.55% | 4.62% | 4.12% | 7.39% | 3.89% | 10.60% | 4.37% | 1.26% | 0.00% | 0.00% |
Frequently Asked Questions
XQUE.DE and CGB.DE have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.50% for XQUE.DE.
XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged), while CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Their fees differ too: 0.50% for XQUE.DE and 0.20% for CGB.DE.
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