XZEU.DE vs. XDWD.DE

Last updated Jun 5, 2026

XZEU.DE (Xtrackers MSCI Europe ESG UCITS ETF 1C) and XDWD.DE (Xtrackers MSCI World UCITS ETF 1C) are both exchange-traded funds - XZEU.DE is a Europe Equities fund tracking the MSCI Europe NR EUR, while XDWD.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 5 years, XZEU.DE returned 7.48%/yr vs 12.89%/yr for XDWD.DE. Their correlation of 0.80 suggests significant overlap in exposure. XZEU.DE charges 0.20%/yr vs 0.19%/yr for XDWD.DE.

Performance

XZEU.DE vs. XDWD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI Europe ESG UCITS ETF 1C (XZEU.DE) and Xtrackers MSCI World UCITS ETF 1C (XDWD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XZEU.DE achieves a 5.81% return, which is significantly lower than XDWD.DE's 10.91% return.

XZEU.DE

• 1D: 0.87%
• 1M: 2.59%
• YTD: 5.81%
• 6M: 8.13%
• 1Y: 5.92%
• 3Y*: 10.08%
• 5Y*: 7.48%
• 10Y*: —

XDWD.DE

• 1D: -0.01%
• 1M: 3.63%
• YTD: 10.91%
• 6M: 10.96%
• 1Y: 23.80%
• 3Y*: 17.56%
• 5Y*: 12.89%
• 10Y*: 12.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XZEU.DE vs. XDWD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XZEU.DE Xtrackers MSCI Europe ESG UCITS ETF 1C	5.81%	8.12%	11.56%	16.38%	-13.12%	25.64%	0.09%	29.10%	-11.34%
XDWD.DE Xtrackers MSCI World UCITS ETF 1C	10.91%	7.85%	25.98%	20.18%	-13.67%	32.74%	5.48%	31.27%	-7.03%

Correlation

The correlation between XZEU.DE and XDWD.DE is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 14, 2018	0.80

The correlation between XZEU.DE and XDWD.DE has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

XZEU.DE vs. XDWD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XZEU.DE

XZEU.DE Risk / Return Rank: 17
XZEU.DE Sharpe Ratio Rank: 16
XZEU.DE Sortino Ratio Rank: 16
XZEU.DE Omega Ratio Rank: 16
XZEU.DE Calmar Ratio Rank: 17
XZEU.DE Martin Ratio Rank: 18

XDWD.DE

XDWD.DE Risk / Return Rank: 70
XDWD.DE Sharpe Ratio Rank: 66
XDWD.DE Sortino Ratio Rank: 66
XDWD.DE Omega Ratio Rank: 68
XDWD.DE Calmar Ratio Rank: 74
XDWD.DE Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XZEU.DE vs. XDWD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe ESG UCITS ETF 1C (XZEU.DE) and Xtrackers MSCI World UCITS ETF 1C (XDWD.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.

	XZEU.DE	XDWD.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.44	2.14	-1.69
Sortino ratio: Return per unit of downside risk	0.73	2.98	-2.25
Omega ratio: Gain probability vs. loss probability	1.09	1.40	-0.31
Calmar ratio: Return relative to maximum drawdown	0.58	3.63	-3.05
Martin ratio: Return relative to average drawdown	1.87	14.44	-12.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XZEU.DE vs. XDWD.DE - Sharpe Ratio Comparison

The current XZEU.DE Sharpe Ratio is 0.44, which is lower than the XDWD.DE Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of XZEU.DE and XDWD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XZEU.DE	XDWD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	2.14	-1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.90	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.78	-0.29

Drawdowns

XZEU.DE vs. XDWD.DE - Drawdown Comparison

The maximum XZEU.DE drawdown since its inception was -33.18%, roughly equal to the maximum XDWD.DE drawdown of -33.55%. Use the drawdown chart below to compare losses from any high point for XZEU.DE and XDWD.DE.

Drawdown Indicators

	XZEU.DE	XDWD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.18%	-33.55%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-6.54%	-3.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.97%	-21.64%	+4.67%
Max Drawdown (5Y) Largest decline over 5 years	-22.04%	-21.64%	-0.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.55%	—
Current Drawdown Current decline from peak	-0.84%	-0.33%	-0.51%
Average Drawdown Average peak-to-trough decline	-5.18%	-4.55%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	1.65%	+1.58%

Volatility

XZEU.DE vs. XDWD.DE - Volatility Comparison

Xtrackers MSCI Europe ESG UCITS ETF 1C (XZEU.DE) has a higher volatility of 4.45% compared to Xtrackers MSCI World UCITS ETF 1C (XDWD.DE) at 2.60%. This indicates that XZEU.DE's price experiences larger fluctuations and is considered to be riskier than XDWD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XZEU.DE	XDWD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	2.60%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	11.25%	7.77%	+3.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	11.12%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	14.13%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	15.16%	+0.80%

XZEU.DE vs. XDWD.DE - Expense Ratio Comparison

XZEU.DE has a 0.20% expense ratio, which is higher than XDWD.DE's 0.19% 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

XZEU.DE vs. XDWD.DE - Dividend Comparison

Neither XZEU.DE nor XDWD.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XZEU.DE and XDWD.DE in my portfolio?

XZEU.DE and XDWD.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZEU.DE or XDWD.DE?

On fees, XDWD.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZEU.DE or XDWD.DE?

XDWD.DE is cheaper with a 0.19% expense ratio, compared with 0.20% for XZEU.DE.

What is the main difference between XZEU.DE and XDWD.DE?

XZEU.DE is categorized as Europe Equities, while XDWD.DE is Global Equities. XZEU.DE tracks MSCI Europe NR EUR, while XDWD.DE tracks MSCI World. Their fees differ too: 0.20% for XZEU.DE and 0.19% for XDWD.DE.