XY4P.DE vs. X03G.DE
XY4P.DE (Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF) and X03G.DE (Xtrackers II Germany Government Bond UCITS ETF) are both European Government Bonds funds from Xtrackers - XY4P.DE tracks the iBoxx® EUR Sovereigns Eurozone Yield Plus while X03G.DE tracks the iBoxx® EUR Germany. Both are passively managed. Over the past 10 years, XY4P.DE returned 0.56%/yr vs -1.28%/yr for X03G.DE. A 0.50 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
XY4P.DE vs. X03G.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XY4P.DE achieves a -0.03% return, which is significantly higher than X03G.DE's -0.04% return. Over the past 10 years, XY4P.DE has outperformed X03G.DE with an annualized return of 0.56%, while X03G.DE has yielded a comparatively lower -1.28% annualized return.
XY4P.DE
- 1D
- 0.06%
- 1M
- 0.56%
- YTD
- -0.03%
- 6M
- -0.02%
- 1Y
- 0.27%
- 3Y*
- 3.35%
- 5Y*
- -1.34%
- 10Y*
- 0.56%
X03G.DE
- 1D
- 0.11%
- 1M
- 0.40%
- YTD
- -0.04%
- 6M
- -0.44%
- 1Y
- -1.37%
- 3Y*
- 0.86%
- 5Y*
- -3.03%
- 10Y*
- -1.28%
XY4P.DE vs. X03G.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | -0.03% | 1.69% | 3.52% | 8.01% | -17.35% | -2.95% | 5.93% | 9.55% | -0.61% | 0.53% |
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | -0.04% | -1.48% | 0.14% | 5.23% | -17.79% | -2.57% | 2.71% | 2.86% | 2.17% | -1.47% |
Correlation
The correlation between XY4P.DE and X03G.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2011 | 0.50 |
Over the past year, XY4P.DE and X03G.DE have become more correlated (0.93) than their long-term average of 0.50, meaning their price movements have been converging.
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Return for Risk
XY4P.DE vs. X03G.DE — Risk / Return Rank
XY4P.DE
X03G.DE
XY4P.DE vs. X03G.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.DE) and Xtrackers II Germany Government Bond UCITS ETF (X03G.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.
| XY4P.DE | X03G.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.94 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | -0.47 | +0.54 |
| Martin ratioReturn relative to average drawdown | 0.19 | -0.99 | +1.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XY4P.DE | X03G.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | -0.37 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | -0.49 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | -0.25 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.04 | +0.35 |
Drawdowns
XY4P.DE vs. X03G.DE - Drawdown Comparison
The maximum XY4P.DE drawdown since its inception was -20.52%, smaller than the maximum X03G.DE drawdown of -23.87%. Use the drawdown chart below to compare losses from any high point for XY4P.DE and X03G.DE.
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Drawdown Indicators
| XY4P.DE | X03G.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.52% | -23.87% | +3.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -2.89% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -4.07% | -5.00% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -21.19% | +1.08% |
Max Drawdown (10Y)Largest decline over 10 years | -20.52% | -23.87% | +3.35% |
Current DrawdownCurrent decline from peak | -9.19% | -19.28% | +10.09% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -7.77% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.38% | +0.05% |
Volatility
XY4P.DE vs. X03G.DE - Volatility Comparison
Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.DE) has a higher volatility of 1.77% compared to Xtrackers II Germany Government Bond UCITS ETF (X03G.DE) at 1.43%. This indicates that XY4P.DE's price experiences larger fluctuations and is considered to be riskier than X03G.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XY4P.DE | X03G.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.43% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 3.88% | 2.89% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.57% | 3.68% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.49% | 6.16% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 5.15% | +1.34% |
XY4P.DE vs. X03G.DE - Expense Ratio Comparison
Both XY4P.DE and X03G.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XY4P.DE vs. X03G.DE - Dividend Comparison
Neither XY4P.DE nor X03G.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
X03G.DE Xtrackers II Germany Government Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.33% |
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, XY4P.DE and X03G.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XY4P.DE and X03G.DE have the same expense ratio: 0.15% per year.
XY4P.DE tracks iBoxx® EUR Sovereigns Eurozone Yield Plus, while X03G.DE tracks iBoxx® EUR Germany.
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