XZEG.DE vs. EUNU.DE
XZEG.DE (Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged) and EUNU.DE (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) are both Global Bonds funds - XZEG.DE tracks the FTSE ESG Select World Government Bond Developed Markets (EUR Hedged) while EUNU.DE tracks the Bloomberg Global Aggregate Bond. Both are passively managed. Over the past 3 years, XZEG.DE returned 0.67%/yr vs 1.03%/yr for EUNU.DE. A 0.61 correlation means they provide meaningful diversification when combined. XZEG.DE charges 0.25%/yr vs 0.10%/yr for EUNU.DE.
Performance
XZEG.DE vs. EUNU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XZEG.DE achieves a -0.85% return, which is significantly lower than EUNU.DE's -0.39% return.
XZEG.DE
- 1D
- 0.00%
- 1M
- -0.15%
- YTD
- -0.85%
- 6M
- -0.89%
- 1Y
- -0.40%
- 3Y*
- 0.67%
- 5Y*
- —
- 10Y*
- —
EUNU.DE
- 1D
- 0.02%
- 1M
- 0.44%
- YTD
- -0.39%
- 6M
- -0.91%
- 1Y
- -0.79%
- 3Y*
- 1.03%
- 5Y*
- -0.25%
- 10Y*
- —
XZEG.DE vs. EUNU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | -0.85% | 0.96% | -1.08% | 3.63% | -17.03% | -1.50% |
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -0.39% | -4.02% | 5.70% | 4.05% | -10.69% | -1.12% |
Correlation
The correlation between XZEG.DE and EUNU.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.61 |
Over the past year, the correlation between XZEG.DE and EUNU.DE has dropped to 0.38 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
XZEG.DE vs. EUNU.DE — Risk / Return Rank
XZEG.DE
EUNU.DE
XZEG.DE vs. EUNU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) and iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.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.
| XZEG.DE | EUNU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.96 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | -0.30 | +0.14 |
| Martin ratioReturn relative to average drawdown | -0.44 | -0.67 | +0.22 |
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
| XZEG.DE | EUNU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.16 | -0.29 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.66 | 0.23 | -0.89 |
Drawdowns
XZEG.DE vs. EUNU.DE - Drawdown Comparison
The maximum XZEG.DE drawdown since its inception was -21.14%, which is greater than EUNU.DE's maximum drawdown of -12.88%. Use the drawdown chart below to compare losses from any high point for XZEG.DE and EUNU.DE.
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Drawdown Indicators
| XZEG.DE | EUNU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.14% | -12.88% | -8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -3.82% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.32% | -8.28% | +3.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.88% | — |
Current DrawdownCurrent decline from peak | -16.14% | -7.39% | -8.75% |
Average DrawdownAverage peak-to-trough decline | -15.25% | -4.71% | -10.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.71% | -0.37% |
Volatility
XZEG.DE vs. EUNU.DE - Volatility Comparison
Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) has a higher volatility of 1.42% compared to iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) at 0.95%. This indicates that XZEG.DE's price experiences larger fluctuations and is considered to be riskier than EUNU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XZEG.DE | EUNU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.95% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.92% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 3.99% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 6.06% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 5.76% | +0.03% |
XZEG.DE vs. EUNU.DE - Expense Ratio Comparison
XZEG.DE has a 0.25% expense ratio, which is higher than EUNU.DE's 0.10% 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
XZEG.DE vs. EUNU.DE - Dividend Comparison
XZEG.DE's dividend yield for the trailing twelve months is around 2.53%, more than EUNU.DE's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 1.53% | 3.21% | 4.10% | 4.25% | 1.55% | 2.78% | 2.49% | 2.47% | 2.10% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | 2.53% | 2.40% | 2.55% | 1.67% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XZEG.DE and EUNU.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNU.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XZEG.DE.
XZEG.DE tracks FTSE ESG Select World Government Bond Developed Markets (EUR Hedged), while EUNU.DE tracks Bloomberg Global Aggregate Bond. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XZEG.DE and 0.10% for EUNU.DE.
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