ETF · Xtrackers
XFFE Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation
ISIN LU0321465469London Stock Exchange: XFFEDeutsche Bank AG
- Cash-like & short-term
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE$216.75
on
- Ongoing charge
- 0.10% a year
- Fund size
- £298m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, XFFE (Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation, ISIN LU0321465469) closed at $216.75 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the five years to 13/11/2026 its total return was +22.3%, or −4.5% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +3.3%
- −0.4% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +5.6%
- −4.6% after inflation (UK CPIH)
- 5 years to 13/11/2026
- +22.3%
- −4.5% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,223 on 13/11/2026 — about £955 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
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 USD Overnight Rate Swap UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund): 2022 +13.8%, 2023 −0.6%, 2024 +8.0%, 2025 −3.8%; 2026 to 13/11/2026 +4.9%. Returns of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +4.9%; to 30/09/2025: +4.1%; to 30/09/2024: −3.5%; to 30/09/2023: −5.7%; to 30/09/2022: +23.5%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +4.9% | +1.5% | |
| to | −3.8% | −7.1% | |
| to | +8.0% | +4.3% | |
| −0.6% | −4.6% | ||
| +13.8% | +4.2% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +4.9% | +1.2% |
| from | +4.1% | 0.0% |
| from | −3.5% | −6.0% |
| from | −5.7% | −11.4% |
| from | +23.5% | +13.5% |
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)
7.6%over 5 years
| 1 year | 5.6% |
|---|---|
| 3 years | 6.3% |
| 5 years | 7.6% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −12.9%
- From to
- Lowest 12-month return
- −6.2%
- 12 months to
- Highest 12-month return
- +25.3%
- 12 months to
- Below its highest weekly close since November 2021
- 1.0%
- High of , latest
In words: Volatility of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation in pounds, annualised from weekly returns to 13/11/2026: 5.6% over 1 year, 6.3% over 3 years, 7.6% over 5 years. Largest fall in the price of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation since November 2021, in pounds: −12.9% from 30/09/2022 to 14/07/2023. The lowest 12-month return of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation in pounds (price, with income reinvested in the fund) since January 2021 was −6.2% (12 months to 14/07/2023); the highest was +25.3% (12 months to 21/10/2022). On 13/11/2026 the price of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation was 1.0% below its highest weekly close since November 2021 (17/01/2025), 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
- 0.10%
- a year
- On £10,000
- £10
- a year, roughly
- Over five years
- £50
- of £10,000, before growth
- 18 charge less
- 14 the same
- 11 charge more
Ongoing charge of Xtrackers II USD Overnight Rate Swap UCITS ETF -1C- Capitalisation 0.10% a year. Compared on 14/11/2026, 11 of the 43 other cash-like and short-term funds charge more, 14 the same and 18 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 USD Overnight Rate Swap UCITS ETF -1C- Capitalisation is an exchange-traded fund (ETF) from Xtrackers, launched in 2007.
It tracks the Deutsche Bank FED Funds Effective Rate Index.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.1% a year — about £10 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.
Cash-like & short-term: Very short-term loans and money-market funds that aim to follow interest rates with little price movement.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- XFFE
- ISIN
- LU0321465469
- Provider
- Xtrackers
- Tracks
- Deutsche Bank FED Funds Effective Rate Index
- 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
- 0.10% a year · about £10 on £10,000
- Fund size
- £298m
- 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
- No
- Price currency
- USD
- Category
- Cash-like & short-term
Price chart
Over the last year, the closing price went from $209.03 on 14/11/2025 to $216.75 on 13/11/2026 (+3.7%). The lowest close shown was $209.03 on 14/11/2025 and the highest $216.75 on 13/11/2026.
One close a week. Before 31/07/2026 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
262 weekly closes, from 12/11/2021 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
- 36
- on record
- Ten largest
- 74.0%
- of the whole fund
- Effective number of holdings
- 15
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 12.3%
- Germany (Federal Republic Of)
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | Germany (Federal Republic Of)Germany | 12.34% |
| 2 | Treasury Note (US91282CPS43)GovernmentUnited States | 10.35% |
| 3 | Treasury Bond (US912810TX63)United States | 8.12% |
| 4 | Treasury Note (US91282CRM54)United States | 7.87% |
| 5 | Treasury Note (US91282CRJ26)United States | 7.55% |
| 6 | Treasury Bond (US912810TN81)GovernmentUnited States | 7.37% |
| 7 | Spain (Kingdom Of) (ES0000012S22)Spain | 6.20% |
| 8 | France (Republic Of) (FR001400OHF4)France | 6.19% |
| 9 | Treasury Bond (US912810SA79)GovernmentUnited States | 4.05% |
| 10 | European Union (EU000A3K4DY4) | 3.96% |
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 36 largest and what changed since .
All holdings
The fund publishes 36 holdings; the ten largest make up 74.0% of it.
Create a free account to see the full holdings list
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
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 254 rolling 12-month returns since January 2021, and of 150 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since November 2021, in pounds, with how many weeks each 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.
Questions people ask
What is the ongoing charge of XFFE?
The ongoing charge of XFFE is 0.10% a year — about £10 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 USD Overnight Rate Swap UCITS ETF -1C- Capitalisation 0.10% a year. Compared on 14/11/2026, 11 of the 43 other cash-like and short-term funds charge more, 14 the same and 18 less (share classes counted once).
What does XFFE track?
XFFE tracks the Deutsche Bank FED Funds Effective Rate Index.
Is XFFE accumulating or distributing?
XFFE 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 XFFE?
The ISIN of XFFE is LU0321465469. An ISIN identifies one exact share class of a fund; XFFE is its ticker on the London Stock Exchange.
What does XFFE hold?
XFFE is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 15/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index.
What were XFFE’s returns in each of the last five years?
Calendar-year returns of XFFE in pounds (price, with income reinvested in the fund): 2022 +13.8%, 2023 −0.6%, 2024 +8.0%, 2025 −3.8%; 2026 to 13/11/2026 +4.9%. Past performance is not a guide to future returns.
How has XFFE done after inflation?
Over the five years to 13/11/2026 XFFE’s total return was +22.3%, or −4.5% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- 0DMTXtrackers II EUR Overnight Rate Swap UCITS ETF0.10% a year · £20bn
- IB01iShares $ Treasury Bond 0-1yr UCITS ETF USD (Accumulating)0.07% a year · £16bn
- 0E2BAmundi Smart Overnight Return UCITS ETF C EUR Capitalisation0.10% a year · £6.2bn
- 0A24iShares USD Treasury Bond 0-1yr UCITS ETF AccumHedged MXN0.10% a year · £5.0bn
- FLOAiShares USD Floating Rate Bond UCITS ETF USD0.10% a year · £3.3bn
- ERN1iShares EUR Ultrashort Bond UCITS ETF0.09% a year · £2.8bn
- CSHDAmundi EUR Overnight Return UCITS ETF -Acc-0.10% a year · £2.8bn
- VDSTVanguard U.S. Treasury 0-1 Year Bond UCITS ETF USD0.05% a year · £2.0bn
Fund documents and methods
- Fund documents
- Fund page at Xtrackers (DWS) (links checked )
Methodology:ReturnsCategoriesAll methods
A machine-readable copy of this page: Markdown.