XZEB.DE vs. SYBG.DE
XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - XZEB.DE tracks the FTSE ESG Select EMU Government Bond while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 3 years, XZEB.DE returned 1.36%/yr vs 2.86%/yr for SYBG.DE. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
XZEB.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XZEB.DE achieves a -0.11% return, which is significantly lower than SYBG.DE's 1.48% return.
XZEB.DE
- 1D
- 0.00%
- 1M
- -0.92%
- 6M
- -0.66%
- YTD
- -0.11%
- 1Y
- -0.16%
- 3Y*
- 1.36%
- 5Y*
- —
- 10Y*
- —
SYBG.DE
- 1D
- -0.36%
- 1M
- 1.06%
- 6M
- -0.09%
- YTD
- 1.48%
- 1Y
- 4.78%
- 3Y*
- 2.86%
- 5Y*
- -5.13%
- 10Y*
- -1.83%
XZEB.DE vs. SYBG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | -0.11% | -0.59% | 0.01% | 5.77% | -5.43% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.48% | 0.15% | 0.07% | 5.36% | -11.91% |
Correlation
The correlation between XZEB.DE and SYBG.DE is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.73 |
The correlation between XZEB.DE and SYBG.DE has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
XZEB.DE vs. SYBG.DE — Risk / Return Rank
XZEB.DE
SYBG.DE
XZEB.DE vs. SYBG.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 SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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.
| XZEB.DE | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.11 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.88 | -0.93 |
| Martin ratioReturn relative to average drawdown | -0.12 | 2.73 | -2.85 |
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Drawdowns
XZEB.DE vs. SYBG.DE - Drawdown Comparison
The maximum XZEB.DE drawdown since its inception was -13.98%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for XZEB.DE and SYBG.DE.
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Drawdown Indicators
| XZEB.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.98% | -36.66% | +22.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -5.42% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | -4.45% | -8.78% | +4.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.66% | — |
Current DrawdownCurrent decline from peak | -7.56% | -26.61% | +19.05% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -13.47% | +5.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 1.75% | -0.39% |
Volatility
XZEB.DE vs. SYBG.DE - Volatility Comparison
The current volatility for Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) is 1.09%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 2.23%. This indicates that XZEB.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 2.23% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 6.24% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 7.90% | -3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.42% | 11.77% | -5.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 13.82% | -7.40% |
XZEB.DE vs. SYBG.DE - Expense Ratio Comparison
Both XZEB.DE and SYBG.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
XZEB.DE vs. SYBG.DE - Dividend Comparison
XZEB.DE has not paid dividends to shareholders, while SYBG.DE's dividend yield for the trailing twelve months is around 3.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.74% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
XZEB.DE Xtrackers II ESG Eurozone 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% | 0.00% |
Frequently Asked Questions
XZEB.DE and SYBG.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XZEB.DE and SYBG.DE have the same expense ratio: 0.15% per year.
XZEB.DE tracks FTSE ESG Select EMU Government Bond, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: Xtrackers and State Street.
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