# Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation (0E03)

**Page:** https://fundology.uk/fund/0e03 · ISIN LU0952581584

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, 0E03 (Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation, ISIN LU0952581584) closed at €6.09 on the London Stock Exchange. Its ongoing charge is 0.15% a year (about £15 on £10,000). Over the five years to 13/11/2026 its total return was −44.3%, or −56.5% after UK CPIH inflation.

## Summary

Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation is an exchange-traded fund (ETF) from Xtrackers, launched in 2013. It tracks the FTSE Japanese Government Bond Index - JPY - Benchmark TR Net — large and medium-sized Japanese companies. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.15% a year — about £15 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **€6.09** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 0E03 |
| ISIN | LU0952581584 |
| Also listed as | XJSE (Xetra, euros) |
| Category | Government bonds |
| Type | ETF |
| Provider | Xtrackers |
| Tracks | FTSE Japanese Government Bond Index - JPY - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.15% a year (£15 per £10,000) |
| Fund size | £580m |
| Launched | 2013 |
| Domicile | Luxembourg |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 15/11/2013 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -10.96% | -14.12% | income reinvested |
| 3 years | -25.00% | -32.24% | income reinvested |
| 5 years | -44.30% | -56.52% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund): 2022 −9.8%, 2023 −11.5%, 2024 −11.5%, 2025 −16.1%; 2026 to 13/11/2026 −4.8%. Returns of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −13.1%; to 30/09/2025: −10.5%; to 30/09/2024: −6.8%; to 30/09/2023: −15.3%; to 30/09/2022: −10.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -9.8% | -17.4% | Price |
| 2023 | -11.5% | -15.0% | Price |
| 2024 | -11.5% | -14.5% | Price |
| 2025 | -16.1% | -19.0% | Price |
| 2026 to 13/11/2026 | -4.8% | -7.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 8.83% | -14.80% |
| 3 years | 11.03% | -31.68% |
| 5 years | 10.70% | -47.10% |

## Largest fall

Volatility of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation in pounds, annualised from weekly returns to 13/11/2026: 8.8% over 1 year, 11.0% over 3 years, 10.7% over 5 years. Largest fall in the price of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation since November 2021, in pounds: −47.1% from 10/12/2021 to 24/07/2026. The lowest 12-month return of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund) since January 2021 was −20.2% (12 months to 03/04/2026); the highest was +0.1% (12 months to 04/07/2025). On 13/11/2026 the price of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation was 45.4% below its highest weekly close since November 2021 (10/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation 0.15% a year. Compared on 14/11/2026, 117 of the 311 other government bond funds charge more, 28 the same and 166 less (share classes counted once).

## Funds tracking the same index

2 funds track FTSE Japanese Government Bond Index - JPY - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.20% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation (this fund) | 0.15% | -11.0% | -25.0% | -44.3% |
| Xtrackers II JAPAN GOVERNMENT BOND UCITS ETF -2D GBP Hedged- Distribution | 0.20% | -1.9% | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.15%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 15/11/2026, 0E03 holds 284 positions, according to its published holdings. The largest is Japan (Government Of) 10YR #383 at 1.52% of the fund; the ten largest make up 12.9%.

### Top holdings

Largest positions (as of 15/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Japan (Government Of) 10YR #383 | — | 1.52% |
| 2 | Japan (Government Of) 10YR #382 | — | 1.48% |
| 3 | Japan (Government Of) 10YR #380 | — | 1.45% |
| 4 | Japan (Government Of) 10YR #381 | — | 1.39% |
| 5 | Japan (Government Of) 5YR #183 | — | 1.36% |
| 6 | Japan (Government Of) 10YR #379 | — | 1.25% |
| 7 | Japan (Government Of) 10YR #376 | — | 1.14% |
| 8 | Japan (Government Of) 10YR #378 | — | 1.14% |
| 9 | Japan (Government Of) 10YR #377 | — | 1.08% |
| 10 | Japan (Government Of) 5YR #178 | — | 1.06% |

All 284 holdings: https://fundology.uk/fund/0e03/holdings

## Questions people ask

**What is the ongoing charge of 0E03?**

The ongoing charge of 0E03 is 0.15% a year — about £15 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Xtrackers II Japan Government Bond UCITS ETF -1C- Capitalisation 0.15% a year. Compared on 14/11/2026, 117 of the 311 other government bond funds charge more, 28 the same and 166 less (share classes counted once).

**What does 0E03 track?**

0E03 tracks the FTSE Japanese Government Bond Index - JPY - Benchmark TR Net — large and medium-sized Japanese companies.

**Is 0E03 accumulating or distributing?**

0E03 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of 0E03?**

The ISIN of 0E03 is LU0952581584. An ISIN identifies one exact share class of a fund; 0E03 is its ticker on the London Stock Exchange. The same share class is also listed as XJSE (Xetra, euros).

**What does 0E03 hold?**

As of 15/11/2026, 0E03 holds 284 positions, according to its published holdings. The largest is Japan (Government Of) 10YR #383 at 1.52% of the fund; the ten largest make up 12.9%. Its ten largest holdings are Japan (Government Of) 10YR #383 (1.52%), Japan (Government Of) 10YR #382 (1.48%), Japan (Government Of) 10YR #380 (1.45%), Japan (Government Of) 10YR #381 (1.39%), Japan (Government Of) 5YR #183 (1.36%), Japan (Government Of) 10YR #379 (1.25%), Japan (Government Of) 10YR #376 (1.14%), Japan (Government Of) 10YR #378 (1.14%), Japan (Government Of) 10YR #377 (1.08%) and Japan (Government Of) 5YR #178 (1.06%).

**What were 0E03’s returns in each of the last five years?**

Calendar-year returns of 0E03 in pounds (price, with income reinvested in the fund): 2022 −9.8%, 2023 −11.5%, 2024 −11.5%, 2025 −16.1%; 2026 to 13/11/2026 −4.8%. Past performance is not a guide to future returns.

**How has 0E03 done after inflation?**

Over the five years to 13/11/2026 0E03’s total return was −44.3%, or −56.5% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/LU0952581584-japan-government-bond-ucits-etf-1c/)
- Links checked 12/10/2026.

---

We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments.

Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.