XY4P.DE vs. XZEB.DE
XY4P.DE (Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds from Xtrackers - XY4P.DE tracks the iBoxx® EUR Sovereigns Eurozone Yield Plus while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, XY4P.DE returned 3.35%/yr vs 1.37%/yr for XZEB.DE. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
XY4P.DE vs. XZEB.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 lower than XZEB.DE's 0.20% return.
XY4P.DE
- 1D
- 0.06%
- 1M
- -0.03%
- YTD
- -0.03%
- 6M
- 0.03%
- 1Y
- 0.60%
- 3Y*
- 3.35%
- 5Y*
- -1.34%
- 10Y*
- 0.56%
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
XY4P.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XY4P.DE Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF | -0.03% | 1.69% | 3.52% | 8.01% | -6.49% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between XY4P.DE and XZEB.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.94 |
The correlation between XY4P.DE and XZEB.DE has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
XY4P.DE vs. XZEB.DE — Risk / Return Rank
XY4P.DE
XZEB.DE
XY4P.DE vs. XZEB.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 ESG Eurozone Government Bond UCITS ETF (XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.97 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | -0.24 | +0.31 |
| Martin ratioReturn relative to average drawdown | 0.19 | -0.53 | +0.73 |
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 | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | -0.17 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | -0.11 | +0.50 |
Drawdowns
XY4P.DE vs. XZEB.DE - Drawdown Comparison
The maximum XY4P.DE drawdown since its inception was -20.52%, which is greater than XZEB.DE's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for XY4P.DE and XZEB.DE.
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Drawdown Indicators
| XY4P.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.52% | -13.98% | -6.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -2.97% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -4.07% | -4.45% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.52% | — | — |
Current DrawdownCurrent decline from peak | -9.19% | -7.28% | -1.91% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -8.40% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.33% | +0.10% |
Volatility
XY4P.DE vs. XZEB.DE - Volatility Comparison
Xtrackers iBoxx Sovereigns Eurozone Yield Plus UCITS ETF (XY4P.DE) has a higher volatility of 1.77% compared to Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) at 1.57%. This indicates that XY4P.DE's price experiences larger fluctuations and is considered to be riskier than XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.57% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.88% | 3.45% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.57% | 4.14% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.49% | 6.32% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.49% | 6.32% | +0.17% |
XY4P.DE vs. XZEB.DE - Expense Ratio Comparison
Both XY4P.DE and XZEB.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. XZEB.DE - Dividend Comparison
Neither XY4P.DE nor XZEB.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, XY4P.DE and XZEB.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 XZEB.DE have the same expense ratio: 0.15% per year.
XY4P.DE tracks iBoxx® EUR Sovereigns Eurozone Yield Plus, while XZEB.DE tracks FTSE ESG Select EMU Government Bond.
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