XUTE.DE vs. XCS2.DE
XUTE.DE (Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist)) and XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) are both Government Bonds funds from Xtrackers - XUTE.DE tracks the iBoxx USD Treasuries Index (EUR Hedged) while XCS2.DE tracks the FTSE Australian Government Bond Index. Both are passively managed. Over the past 5 years, XUTE.DE returned -2.48%/yr vs -1.91%/yr for XCS2.DE. At a 0.35 correlation, their price movements are largely independent. XUTE.DE charges 0.10%/yr vs 0.25%/yr for XCS2.DE.
Performance
XUTE.DE vs. XCS2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUTE.DE achieves a -0.78% return, which is significantly lower than XCS2.DE's 8.74% return.
XUTE.DE
- 1D
- -0.07%
- 1M
- 0.37%
- 6M
- -0.57%
- YTD
- -0.78%
- 1Y
- 1.15%
- 3Y*
- 1.17%
- 5Y*
- -2.48%
- 10Y*
- —
XCS2.DE
- 1D
- 0.64%
- 1M
- 0.17%
- 6M
- 8.57%
- YTD
- 8.74%
- 1Y
- 9.20%
- 3Y*
- 2.45%
- 5Y*
- -1.91%
- 10Y*
- -0.09%
XUTE.DE vs. XCS2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | -0.78% | 4.18% | -1.19% | 1.61% | -14.67% | -3.37% | 6.64% | 3.87% | -2.07% | 0.41% |
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 8.74% | -2.17% | -1.70% | 0.78% | -13.88% | -0.26% | 4.13% | 9.65% | -0.82% | -2.48% |
Correlation
The correlation between XUTE.DE and XCS2.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2016 | 0.35 |
The correlation between XUTE.DE and XCS2.DE shifts across timeframes, from 0.35 (all time) to 0.51 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XUTE.DE vs. XCS2.DE — Risk / Return Rank
XUTE.DE
XCS2.DE
XUTE.DE vs. XCS2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.DE) and Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.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.
| XUTE.DE | XCS2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.19 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 2.01 | -1.68 |
| Martin ratioReturn relative to average drawdown | 0.86 | 6.68 | -5.82 |
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Drawdowns
XUTE.DE vs. XCS2.DE - Drawdown Comparison
The maximum XUTE.DE drawdown since its inception was -23.77%, smaller than the maximum XCS2.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for XUTE.DE and XCS2.DE.
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Drawdown Indicators
| XUTE.DE | XCS2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.77% | -41.58% | +17.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -4.56% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -5.77% | -12.00% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -20.57% | -22.36% | +1.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.58% | — |
Current DrawdownCurrent decline from peak | -16.71% | -32.78% | +16.07% |
Average DrawdownAverage peak-to-trough decline | -9.85% | -25.75% | +15.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.37% | -0.03% |
Volatility
XUTE.DE vs. XCS2.DE - Volatility Comparison
The current volatility for Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.DE) is 0.95%, while Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) has a volatility of 2.20%. This indicates that XUTE.DE experiences smaller price fluctuations and is considered to be less risky than XCS2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUTE.DE | XCS2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 2.20% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 7.40% | -4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 8.80% | -5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.71% | 10.13% | -4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 21.02% | -15.93% |
XUTE.DE vs. XCS2.DE - Expense Ratio Comparison
XUTE.DE has a 0.10% expense ratio, which is lower than XCS2.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XUTE.DE vs. XCS2.DE - Dividend Comparison
XUTE.DE's dividend yield for the trailing twelve months is around 3.39%, while XCS2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | 3.39% | 3.36% | 3.56% | 2.27% | 2.15% | 3.30% | 1.87% | 1.28% | 0.85% |
Frequently Asked Questions
XUTE.DE and XCS2.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUTE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUTE.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XCS2.DE.
XUTE.DE tracks iBoxx USD Treasuries Index (EUR Hedged), while XCS2.DE tracks FTSE Australian Government Bond Index. Their fees differ too: 0.10% for XUTE.DE and 0.25% for XCS2.DE.
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