XQUE.DE vs. GASF.DE
XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged) while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, XQUE.DE returned -2.72%/yr vs 3.49%/yr for GASF.DE. At a correlation of -0.20, they often move in opposite directions. XQUE.DE charges 0.50%/yr vs 0.24%/yr for GASF.DE.
Performance
XQUE.DE vs. GASF.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 GASF.DE's 7.80% 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*
- —
GASF.DE
- 1D
- 0.00%
- 1M
- 1.11%
- 6M
- 5.78%
- YTD
- 7.80%
- 1Y
- 8.64%
- 3Y*
- 5.05%
- 5Y*
- 3.49%
- 10Y*
- —
XQUE.DE vs. GASF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 1.84% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.80% | -6.82% | 10.85% | -2.28% | 0.91% | 16.54% | -0.76% | -8.22% |
Correlation
The correlation between XQUE.DE and GASF.DE is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | -0.20 |
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Return for Risk
XQUE.DE vs. GASF.DE — Risk / Return Rank
XQUE.DE
GASF.DE
XQUE.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 EUR Hedged (XQUE.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.
| XQUE.DE | GASF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.30 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 2.53 | -1.58 |
| Martin ratioReturn relative to average drawdown | 2.74 | 7.67 | -4.93 |
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Drawdowns
XQUE.DE vs. GASF.DE - Drawdown Comparison
The maximum XQUE.DE drawdown since its inception was -28.45%, which is greater than GASF.DE's maximum drawdown of -13.75%. Use the drawdown chart below to compare losses from any high point for XQUE.DE and GASF.DE.
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Drawdown Indicators
| XQUE.DE | GASF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.45% | -13.75% | -14.70% |
Max Drawdown (1Y)Largest decline over 1 year | -4.13% | -3.40% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -8.80% | -11.00% | +2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -28.06% | -13.75% | -14.31% |
Current DrawdownCurrent decline from peak | -14.01% | -1.66% | -12.35% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -6.05% | -4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 1.12% | +0.32% |
Volatility
XQUE.DE vs. GASF.DE - Volatility Comparison
Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.DE) has a higher volatility of 1.45% compared to Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) at 1.25%. This indicates that XQUE.DE's price experiences larger fluctuations and is considered to be riskier 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
| XQUE.DE | GASF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 1.25% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 3.44% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 5.31% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.36% | 6.68% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.93% | 7.71% | +1.22% |
XQUE.DE vs. GASF.DE - Expense Ratio Comparison
XQUE.DE has a 0.50% expense ratio, which is higher than GASF.DE's 0.24% expense ratio.
Dividends
XQUE.DE vs. GASF.DE - Dividend Comparison
XQUE.DE's dividend yield for the trailing twelve months is around 4.48%, more than GASF.DE's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
XQUE.DE and GASF.DE have a correlation of -0.22, 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 0.50% for XQUE.DE.
XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged), 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: 0.50% for XQUE.DE and 0.24% for GASF.DE.
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