XZMU.DE vs. XEON.DE

Last updated Jun 5, 2026

XZMU.DE (Xtrackers MSCI USA ESG UCITS ETF 1C) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - XZMU.DE is a Large Cap Blend Equities fund tracking the MSCI USA Low Carbon SRI Leaders, while XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 5 years, XZMU.DE returned 14.63%/yr vs 1.94%/yr for XEON.DE. At a correlation of -0.01, they often move in opposite directions. XZMU.DE charges 0.15%/yr vs 0.10%/yr for XEON.DE.

Performance

XZMU.DE vs. XEON.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI USA ESG UCITS ETF 1C (XZMU.DE) and Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XZMU.DE achieves a 8.21% return, which is significantly higher than XEON.DE's 0.80% return.

XZMU.DE

• 1D: 0.69%
• 1M: 5.33%
• YTD: 8.21%
• 6M: 9.17%
• 1Y: 23.46%
• 3Y*: 18.71%
• 5Y*: 14.63%
• 10Y*: —

XEON.DE

• 1D: -0.01%
• 1M: 0.15%
• YTD: 0.80%
• 6M: 0.97%
• 1Y: 1.97%
• 3Y*: 2.99%
• 5Y*: 1.94%
• 10Y*: 0.70%

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

XZMU.DE vs. XEON.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XZMU.DE Xtrackers MSCI USA ESG UCITS ETF 1C	8.21%	5.12%	32.57%	26.56%	-17.86%	45.90%	9.13%	36.81%	-5.06%
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C	0.80%	2.25%	3.78%	3.30%	-0.04%	-0.58%	-0.57%	-0.49%	-0.05%

Correlation

The correlation between XZMU.DE and XEON.DE is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Nov 21, 2018	-0.01

Return for Risk

XZMU.DE vs. XEON.DE — Risk / Return Rank

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

XZMU.DE

XZMU.DE Risk / Return Rank: 51
XZMU.DE Sharpe Ratio Rank: 55
XZMU.DE Sortino Ratio Rank: 53
XZMU.DE Omega Ratio Rank: 54
XZMU.DE Calmar Ratio Rank: 44
XZMU.DE Martin Ratio Rank: 47

XEON.DE

XEON.DE Risk / Return Rank: 99
XEON.DE Sharpe Ratio Rank: 99
XEON.DE Sortino Ratio Rank: 99
XEON.DE Omega Ratio Rank: 99
XEON.DE Calmar Ratio Rank: 100
XEON.DE Martin Ratio Rank: 100

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.

XZMU.DE vs. XEON.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI USA ESG UCITS ETF 1C (XZMU.DE) and Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.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.

	XZMU.DE	XEON.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.84	8.94	-7.10
Sortino ratio: Return per unit of downside risk	2.52	21.24	-18.72
Omega ratio: Gain probability vs. loss probability	1.33	4.27	-2.94
Calmar ratio: Return relative to maximum drawdown	2.16	69.36	-67.20
Martin ratio: Return relative to average drawdown	7.62	316.53	-308.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XZMU.DE vs. XEON.DE - Sharpe Ratio Comparison

The current XZMU.DE Sharpe Ratio is 1.84, which is lower than the XEON.DE Sharpe Ratio of 8.94. The chart below compares the historical Sharpe Ratios of XZMU.DE and XEON.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

	XZMU.DE	XEON.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	8.94	-7.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	7.54	-6.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.74	+0.20

Drawdowns

XZMU.DE vs. XEON.DE - Drawdown Comparison

The maximum XZMU.DE drawdown since its inception was -33.82%, which is greater than XEON.DE's maximum drawdown of -3.71%. Use the drawdown chart below to compare losses from any high point for XZMU.DE and XEON.DE.

Drawdown Indicators

	XZMU.DE	XEON.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.82%	-3.71%	-30.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-0.03%	-10.79%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-0.08%	-24.68%
Max Drawdown (5Y) Largest decline over 5 years	-24.76%	-0.71%	-24.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-3.25%	—
Current Drawdown Current decline from peak	-0.48%	-0.01%	-0.47%
Average Drawdown Average peak-to-trough decline	-5.40%	-0.92%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	0.01%	+3.06%

Volatility

XZMU.DE vs. XEON.DE - Volatility Comparison

Xtrackers MSCI USA ESG UCITS ETF 1C (XZMU.DE) has a higher volatility of 3.08% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 0.04%. This indicates that XZMU.DE's price experiences larger fluctuations and is considered to be riskier than XEON.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XZMU.DE	XEON.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	0.04%	+3.04%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	0.16%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	0.22%	+12.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	0.25%	+15.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	0.39%	+17.50%

XZMU.DE vs. XEON.DE - Expense Ratio Comparison

XZMU.DE has a 0.15% expense ratio, which is higher than XEON.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

XZMU.DE vs. XEON.DE - Dividend Comparison

Neither XZMU.DE nor XEON.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XZMU.DE and XEON.DE in my portfolio?

XZMU.DE and XEON.DE have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZMU.DE or XEON.DE?

On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZMU.DE or XEON.DE?

XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for XZMU.DE.

What is the main difference between XZMU.DE and XEON.DE?

XZMU.DE is categorized as Large Cap Blend Equities, while XEON.DE is Bank Loan. XZMU.DE tracks MSCI USA Low Carbon SRI Leaders, while XEON.DE tracks Solactive €STR +8.5 Daily Index. Their fees differ too: 0.15% for XZMU.DE and 0.10% for XEON.DE.