XZEB.DE vs. DE5A.DE
XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) and DE5A.DE (Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR) are both European Government Bonds funds - XZEB.DE tracks the FTSE ESG Select EMU Government Bond while DE5A.DE tracks the FTSE Highest-Rated Eurozone Government Bond. Both are passively managed. Over the past 3 years, XZEB.DE returned 1.37%/yr vs 1.24%/yr for DE5A.DE. With a 0.99 correlation, they move nearly in lockstep. XZEB.DE charges 0.15%/yr vs 0.14%/yr for DE5A.DE.
Performance
XZEB.DE vs. DE5A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XZEB.DE achieves a 0.20% return, which is significantly lower than DE5A.DE's 0.27% return.
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
DE5A.DE
- 1D
- 0.08%
- 1M
- -0.09%
- YTD
- 0.27%
- 6M
- 0.19%
- 1Y
- -0.43%
- 3Y*
- 1.24%
- 5Y*
- -3.17%
- 10Y*
- -1.18%
XZEB.DE vs. DE5A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR | 0.27% | -0.65% | -0.40% | 5.80% | -7.55% |
Correlation
The correlation between XZEB.DE and DE5A.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.99 |
The correlation between XZEB.DE and DE5A.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
XZEB.DE vs. DE5A.DE — Risk / Return Rank
XZEB.DE
DE5A.DE
XZEB.DE vs. DE5A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) and Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.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.
| XZEB.DE | DE5A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.97 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | -0.26 | +0.02 |
| Martin ratioReturn relative to average drawdown | -0.53 | -0.58 | +0.05 |
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
| XZEB.DE | DE5A.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.17 | -0.20 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.22 | -0.33 |
Drawdowns
XZEB.DE vs. DE5A.DE - Drawdown Comparison
The maximum XZEB.DE drawdown since its inception was -13.98%, smaller than the maximum DE5A.DE drawdown of -24.92%. Use the drawdown chart below to compare losses from any high point for XZEB.DE and DE5A.DE.
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Drawdown Indicators
| XZEB.DE | DE5A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.98% | -24.92% | +10.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -3.13% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.45% | -4.45% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.78% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.92% | — |
Current DrawdownCurrent decline from peak | -7.28% | -19.43% | +12.15% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -7.30% | -1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.42% | -0.09% |
Volatility
XZEB.DE vs. DE5A.DE - Volatility Comparison
The current volatility for Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) is 1.57%, while Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) has a volatility of 1.71%. This indicates that XZEB.DE experiences smaller price fluctuations and is considered to be less risky than DE5A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XZEB.DE | DE5A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.57% | 1.71% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 3.44% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 4.19% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 6.45% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 5.37% | +0.95% |
XZEB.DE vs. DE5A.DE - Expense Ratio Comparison
XZEB.DE has a 0.15% expense ratio, which is higher than DE5A.DE's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XZEB.DE vs. DE5A.DE - Dividend Comparison
Neither XZEB.DE nor DE5A.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, XZEB.DE and DE5A.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.
On fees, DE5A.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DE5A.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for XZEB.DE.
XZEB.DE tracks FTSE ESG Select EMU Government Bond, while DE5A.DE tracks FTSE Highest-Rated Eurozone Government Bond. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.15% for XZEB.DE and 0.14% for DE5A.DE.
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