XZHE.L vs. XDNS.L

Last updated Jun 5, 2026

XZHE.L (Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C) and XDNS.L (Xtrackers MSCI Japan ESG Screened UCITS ETF 1D) are both exchange-traded funds - XZHE.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while XDNS.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. At a 0.32 correlation, their price movements are largely independent. XZHE.L charges 0.25%/yr vs 0.15%/yr for XDNS.L.

Performance

XZHE.L vs. XDNS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.L) and Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XZHE.L is traded in EUR, while XDNS.L is traded in GBp. To make them comparable, the XDNS.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

XZHE.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDNS.L

• 1D: -0.66%
• 1M: 6.07%
• YTD: 16.51%
• 6M: 15.75%
• 1Y: 28.96%
• 3Y*: 14.39%
• 5Y*: 9.24%
• 10Y*: 8.64%

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

XZHE.L vs. XDNS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XZHE.L Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C	-0.54%	5.46%	5.93%	9.90%	3.05%
XDNS.L Xtrackers MSCI Japan ESG Screened UCITS ETF 1D	16.51%	10.75%	14.92%	13.93%	-3.29%

Correlation

The correlation between XZHE.L and XDNS.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022	0.32

The correlation between XZHE.L and XDNS.L shifts across timeframes, from 0.32 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XZHE.L vs. XDNS.L — Risk / Return Rank

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

XDNS.L

XDNS.L Risk / Return Rank: 67
XDNS.L Sharpe Ratio Rank: 64
XDNS.L Sortino Ratio Rank: 63
XDNS.L Omega Ratio Rank: 65
XDNS.L Calmar Ratio Rank: 76
XDNS.L Martin Ratio Rank: 64

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.

XZHE.L vs. XDNS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.L) and Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XZHE.L	XDNS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.82	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.64	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.44	—

Drawdowns

Drawdown Indicators

	XZHE.L	XDNS.L	Difference
Max Drawdown Largest peak-to-trough decline	—	-29.03%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-10.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.70%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.03%	—
Current Drawdown Current decline from peak	—	-0.66%	—
Average Drawdown Average peak-to-trough decline	—	-6.26%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.54%	—

Volatility

Volatility by Period

	XZHE.L	XDNS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.99%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.73%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.89%	—

XZHE.L vs. XDNS.L - Expense Ratio Comparison

XZHE.L has a 0.25% expense ratio, which is higher than XDNS.L's 0.15% 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

XZHE.L vs. XDNS.L - Dividend Comparison

XZHE.L has not paid dividends to shareholders, while XDNS.L's dividend yield for the trailing twelve months is around 1.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
XDNS.L Xtrackers MSCI Japan ESG Screened UCITS ETF 1D	1.43%	1.63%	1.65%	1.81%	2.83%	1.46%	1.79%	1.77%	1.20%	1.97%	0.64%
XZHE.L Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C	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

Can I hold both XZHE.L and XDNS.L in my portfolio?

XZHE.L and XDNS.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZHE.L or XDNS.L?

On fees, XDNS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZHE.L or XDNS.L?

XDNS.L is cheaper with a 0.15% expense ratio, compared with 0.25% for XZHE.L.

What is the main difference between XZHE.L and XDNS.L?

XZHE.L is categorized as European High Yield Bonds, while XDNS.L is Japan Equities. XZHE.L tracks Bloomberg Pan Euro HY Euro TR EUR, while XDNS.L tracks TOPIX TR JPY. Their fees differ too: 0.25% for XZHE.L and 0.15% for XDNS.L.