ETF · Xtrackers
XBUS Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation
ISIN LU2523866379London Stock Exchange: XBUSDeutsche Bank AG
- Government bonds
- ETF
- ISA
- SIPP
- Accumulating
- USD hedged
Latest close
LSE$6.96
on
- Ongoing charge
- 0.20% a year
- Fund size
- £1.9m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, XBUS (Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation, ISIN LU2523866379) closed at $6.96 on the London Stock Exchange. Its ongoing charge is 0.20% a year (about £20 on £10,000). Over the three years to 13/11/2026 its total return was −6.1%, or −15.2% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −0.3%
- −3.8% after inflation (UK CPIH)
- 3 years to 13/11/2026
- −6.1%
- −15.2% after inflation (UK CPIH)
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation in pounds (price, with income reinvested in the fund): 2023 +1.6%, 2024 +3.5%, 2025 −7.1%; 2026 to 13/11/2026 +2.5%. Returns of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: 0.0%; to 30/09/2025: −0.9%; to 30/09/2024: +0.4%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +2.5% | −0.8% | |
| to | −7.1% | −10.3% | |
| to | +3.5% | 0.0% | |
| +1.6% | −2.4% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | 0.0% | −3.6% |
| from | −0.9% | −4.7% |
| from | +0.4% | −2.2% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
7.8%over 3 years
| 1 year | 6.9% |
|---|---|
| 3 years | 7.8% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since October 2022
- −13.5%
- From to
- Lowest 12-month return
- −8.4%
- 12 months to
- Highest 12-month return
- +7.6%
- 12 months to
- Below its highest weekly close since October 2022
- 7.3%
- High of , latest
In words: Volatility of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation in pounds, annualised from weekly returns to 13/11/2026: 6.9% over 1 year, 7.8% over 3 years. Largest fall in the price of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation since October 2022, in pounds: −13.5% from 21/10/2022 to 14/07/2023. The lowest 12-month return of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation in pounds (price, with income reinvested in the fund) since October 2022 was −8.4% (12 months to 30/01/2026); the highest was +7.6% (12 months to 22/11/2024). On 13/11/2026 the price of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation was 7.3% below its highest weekly close since October 2022 (21/10/2022), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.20%
- a year
- On £10,000
- £20
- a year, roughly
- Over five years
- £100
- of £10,000, before growth
- 219 charge less
- 30 the same
- 62 charge more
Ongoing charge of Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation is an exchange-traded fund (ETF) from Xtrackers, launched in 2022.
It tracks the iBoxx Euro Germany.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.2% a year — about £20 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.
It is currency-hedged to US dollars, not to the pound: it aims to remove most of the effect of exchange-rate moves against US dollars, so a holder who counts in pounds still has currency risk.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeCurrency hedgingShare classISIN
Key facts
- Ticker
- XBUS
- ISIN
- LU2523866379
- Provider
- Xtrackers
- Tracks
- iBoxx Euro Germany
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.20% a year · about £20 on £10,000
- Fund size
- £1.9m
- Launched
- Domicile
- Luxembourg
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- Yes, to US dollars
- Price currency
- USD
- Category
- Government bonds
Price chart
Over the last year, the closing price went from $6.95 on 14/11/2025 to $6.96 on 13/11/2026 (+0.1%). The lowest close shown was $6.86 on 11/09/2026 and the highest $7.06 on 26/06/2026.
One close a week. Before 13/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
209 weekly closes, from 21/10/2022 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 67
- 70 reported in all
- Ten largest
- 21.7%
- of the whole fund
- Effective number of holdings
- 60
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 2.6%
- Germany (Federal Republic Of) (DE000BU2Z064)
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Germany (Federal Republic Of) (DE000BU2Z064)Germany | 2.64% |
| 2 | Bundesrepublik Deutschland (DE000BU2Z007)Germany | 2.35% |
| 3 | Germany (Federal Republic Of) (DE000BU25067)Germany | 2.24% |
| 4 | Germany (Federal Republic Of) (DE000BU2Z031)Germany | 2.15% |
| 5 | Germany (Federal Republic Of) (DE000BU2Z049)Germany | 2.13% |
| 6 | Germany (Federal Republic Of) (DE000BU2Z023)Germany | 2.10% |
| 7 | Germany (Federal Republic Of) (DE000BU2D012)Germany | 2.05% |
| 8 | Germany (Federal Republic Of) (DE000BU2Z056)Germany | 2.05% |
| 9 | Germany (Federal Republic Of) (DE0001102341)Germany | 2.01% |
| 10 | Germany (Federal Republic Of) (DE000BU25042)Germany | 2.01% |
As of , holdings as published
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 67 largest and what changed since .
More of the portfolio
The fund publishes 70 holdings; the ten largest make up 21.7% of it. The fund's portfolio is also split by currency.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
3 funds track iBoxx Euro Germany, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.20% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Xtrackers II Germany Government Bond UCITS ETFDistributing · 0.15% a year | 0.15% | −6.7% | −0.6% | −17.6% |
| Xtrackers II Germany Government Bond UCITS ETF -2D-GBP Hedged- DistributionDistributing · Currency hedged · 0.20% a year | 0.20% | 0.0% | +1.3% | Not reported |
| Xtrackers II Germany Government Bond UCITS ETF 2C-USD Hedged- CapitalisationThis fundAccumulating · Currency hedged · 0.20% a year | 0.20% | −0.3% | −6.1% | Not reported |
As of
iBoxx Euro Germany funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 and 3 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 157 rolling 12-month returns since October 2022, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The largest fall since October 2022, in pounds, with how many weeks it took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (149 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of XBUS?
The ongoing charge of XBUS is 0.20% a year — about £20 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 Germany Government Bond UCITS ETF 2C-USD Hedged- Capitalisation 0.20% a year. Compared on 14/11/2026, 62 of the 311 other government bond funds charge more, 30 the same and 219 less (share classes counted once).
What does XBUS track?
XBUS tracks the iBoxx Euro Germany.
Is XBUS accumulating or distributing?
XBUS 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 XBUS?
The ISIN of XBUS is LU2523866379. An ISIN identifies one exact share class of a fund; XBUS is its ticker on the London Stock Exchange.
What does XBUS hold?
As of 15/11/2026, XBUS holds 70 positions, according to its published holdings. The largest is Germany (Federal Republic Of) (DE000BU2Z064) at 2.64% of the fund; the ten largest make up 21.7%. Its ten largest holdings are Germany (Federal Republic Of) (DE000BU2Z064) (2.64%), Bundesrepublik Deutschland (DE000BU2Z007) (2.35%), Germany (Federal Republic Of) (DE000BU25067) (2.24%), Germany (Federal Republic Of) (DE000BU2Z031) (2.15%), Germany (Federal Republic Of) (DE000BU2Z049) (2.13%), Germany (Federal Republic Of) (DE000BU2Z023) (2.10%), Germany (Federal Republic Of) (DE000BU2D012) (2.05%), Germany (Federal Republic Of) (DE000BU2Z056) (2.05%), Germany (Federal Republic Of) (DE0001102341) (2.01%) and Germany (Federal Republic Of) (DE000BU25042) (2.01%).
What were XBUS’s returns in each of the last five years?
Calendar-year returns of XBUS in pounds (price, with income reinvested in the fund): 2023 +1.6%, 2024 +3.5%, 2025 −7.1%; 2026 to 13/11/2026 +2.5%. Past performance is not a guide to future returns.
How has XBUS done after inflation?
Over the three years to 13/11/2026 XBUS’s total return was −6.1%, or −15.2% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at Xtrackers (DWS) (links checked )
Methodology:ReturnsCategoriesAll methods
A machine-readable copy of this page: Markdown.