XXSC.L vs. XEON.DE
XXSC.L (Xtrackers MSCI Europe Small Cap UCITS ETF 1C) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - XXSC.L is a Europe Equities fund tracking the MSCI Europe Small Cap NR EUR, while XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 10 years, XXSC.L returned 8.98%/yr vs 1.68%/yr for XEON.DE. At a 0.16 correlation, their price movements are largely independent. XXSC.L charges 0.30%/yr vs 0.10%/yr for XEON.DE.
Performance
XXSC.L vs. XEON.DE - Performance Comparison
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Different Trading Currencies
XXSC.L is traded in GBp, while XEON.DE is traded in EUR. To make them comparable, the XEON.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XXSC.L achieves a 6.17% return, which is significantly higher than XEON.DE's -0.04% return. Over the past 10 years, XXSC.L has outperformed XEON.DE with an annualized return of 8.98%, while XEON.DE has yielded a comparatively lower 1.68% annualized return.
XXSC.L
- 1D
- 1.71%
- 1M
- 1.58%
- YTD
- 6.17%
- 6M
- 8.47%
- 1Y
- 13.53%
- 3Y*
- 11.34%
- 5Y*
- 4.15%
- 10Y*
- 8.98%
XEON.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- -0.04%
- 6M
- -0.58%
- 1Y
- 3.65%
- 3Y*
- 3.12%
- 5Y*
- 2.08%
- 10Y*
- 1.68%
XXSC.L vs. XEON.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XXSC.L Xtrackers MSCI Europe Small Cap UCITS ETF 1C | 6.17% | 22.28% | 0.76% | 10.44% | -17.50% | 15.39% | 10.55% | 24.37% | -14.57% | 23.35% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | -0.04% | 7.57% | -0.74% | 1.24% | 5.43% | -7.60% | 5.04% | -5.67% | 0.93% | 3.73% |
Correlation
The correlation between XXSC.L and XEON.DE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2008 | 0.16 |
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Return for Risk
XXSC.L vs. XEON.DE — Risk / Return Rank
XXSC.L
XEON.DE
XXSC.L vs. XEON.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L) and Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.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.
| XXSC.L | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 2.37 | -1.13 |
| Martin ratioReturn relative to average drawdown | 4.44 | 5.15 | -0.71 |
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Drawdowns
XXSC.L vs. XEON.DE - Drawdown Comparison
The maximum XXSC.L drawdown since its inception was -74.17%, which is greater than XEON.DE's maximum drawdown of -27.70%. Use the drawdown chart below to compare losses from any high point for XXSC.L and XEON.DE.
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Drawdown Indicators
| XXSC.L | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.17% | -27.70% | -46.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -1.96% | -8.83% |
Max Drawdown (3Y)Largest decline over 3 years | -19.10% | -3.25% | -15.85% |
Max Drawdown (5Y)Largest decline over 5 years | -30.74% | -4.86% | -25.88% |
Max Drawdown (10Y)Largest decline over 10 years | -35.75% | -13.29% | -22.46% |
Current DrawdownCurrent decline from peak | -1.69% | -3.66% | +1.97% |
Average DrawdownAverage peak-to-trough decline | -20.66% | -11.01% | -9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 0.91% | +2.13% |
Volatility
XXSC.L vs. XEON.DE - Volatility Comparison
Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L) has a higher volatility of 3.81% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 1.01%. This indicates that XXSC.L's price experiences larger fluctuations and is considered to be riskier than XEON.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XXSC.L | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 1.01% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.66% | 2.65% | +8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.66% | 4.02% | +8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.53% | 5.39% | +15.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 7.09% | +11.22% |
XXSC.L vs. XEON.DE - Expense Ratio Comparison
XXSC.L has a 0.30% expense ratio, which is higher than XEON.DE's 0.10% expense ratio.
Dividends
XXSC.L vs. XEON.DE - Dividend Comparison
Neither XXSC.L nor XEON.DE has paid dividends to shareholders.
Frequently Asked Questions
XXSC.L and XEON.DE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.30% for XXSC.L.
XXSC.L is categorized as Europe Equities, while XEON.DE is Bank Loan. XXSC.L tracks MSCI Europe Small Cap NR EUR, while XEON.DE tracks Solactive €STR +8.5 Daily Index. They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.30% for XXSC.L and 0.10% for XEON.DE.
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